ChangXin Memory Technologies, China’s leading memory chipmaker, jumped 472% in its Shanghai trading debut on Monday, as investors bet the Chinese memory chipmaker will benefit from growing demand for AI. The opening price valued CXMT at about 3.3 trillion yuan ($487 billion), making it the largest company listed in mainland China, and the stock climbed as much as 535% in morning trading.

Get ready. We’ve got a slew of big tech earnings reports this week—from Meta Platforms, Microsoft, Amazon and Apple—that will pick up from Google’s report last week on the state of AI spending and business. PayPal is also reporting on Tuesday, so we should get some insight into the payment firm’ ...

Online fashion retailer Shein revealed in paperwork for its forthcoming Hong Kong Stock Exchange IPO that last year’s elimination of regulations allowing retailers to import low-cost items without paying duties had hit its business hard. Shein’s revenue growth slowed to 1.1% in the first quarter of 2026, while its U.S. business shrank 14%. The company lost money in the first quarter. The de

Dealmakers are busy scouting public and private markets for funding for the AI buildout. And with demands for capital quickly outpacing traditional forms of data center financing, they’re getting increasingly creative. John Greenwood, Goldman Sach’s global head of infrastructure and real asset ...

Until a year or two ago, big tech firms like Google had relatively simple balance sheets, stuffed with cash that covered any debt several times over. Nowadays, thanks to massive AI spending, Google and others are adopting techniques long used on Wall Street to expand their business without ...

Chinese AI developer DeepSeek has told investors that it is putting its fundraising talks on hold, according to a person with direct knowledge of the matter. The pause on the new funding round, which values DeepSeek at 500 billion yuan ($74 billion), comes after a leaked transcript of CEO Liang Wenfeng’s investor call went viral last week on Chinese social media and X. The call, which was held

Welcome, Weekenders! In this newsletter:• Shopping: Introducing the Summer Fun List—gear, gadgets and toys that all come highly recommended• AI: Where is China ahead of America? In cracking down on AI romances• Plus, Recommendations—our weekly pop culture picks: “The Last Twelve Weeks,” “The ...

SpaceX completed its 13th test flight of its Starship rocket on Friday night after aborting a test launch last week, the first completed launch since the company went public last month. The test flight marked several key milestones for SpaceX, including deploying 20 of its next generation Starlink satellites into orbit for the first time before they were intentionally deorbited. The

To combat her loneliness, An Xu, a 15-year-old middle schooler in Shanghai, had recently been relying for emotional support on her text and voice conversations with an AI companion on Doubao, China’s most popular AI chatbot app. AI companions are meant to mimic humanlike conversation, emotions ...

Nvidia on Friday announced a $500 billion partnership with the conglomerate that owns SK Hynix, whose high-bandwidth memory chips are critical to Nvidia’s AI servers. The partnership aims to help Nvidia access more memory chips and fill more data centers with its servers. Nvidia’s representatives didn’t elaborate on which firms would spend such a large amount or precisely what it would be for.

Alphabet’s Waymo is weighing an exit from its Uber partnership in which riders can hail Waymo robataxis from Uber’s app, the Financial Times reported. Waymo has held internal conversations about ending its current deals with Uber in Austin and Atlanta, the newspaper reported. In May, the two ride-hailing companies said they ended their partnership in Phoenix. Uber shares fell 4% in

Many of the largest U.S. tech companies signed a joint letter on Friday defending open-source AI software as the Trump administration considers possible restrictions on Chinese labs. The letter—signed by Meta Platforms, Nvidia, Microsoft and Andreessen Horowitz, along with AI startups like Reflexity and Hugging Face—argued that open-weight AI models strengthen competition and expand access to

Utter kitchen chaos unfolded when Brynn Putnam and I got together a week or so ago and she suggested a round of “Chop, Chop,” a collaborative restaurant simulation game created by her startup, Board. Even under her close supervision, I still nearly burned the grilled cheese—then left the tomato ...

Shares of Nvidia don’t trade like those of a company whose revenues are expected to rise 83% this year. Instead, the stock is priced as though everything that could go wrong in the next couple of years will go wrong. That creates an opportunity for investors willing to take a longer view. Most ...

OpenAI President Greg Brockman said Thursday he supported a recent suggestion from longtime rival Elon Musk that leading AI developers meet every few weeks to discuss and share safety and security concerns about the technology. “I think it’s a pretty good baseline proposal,” Brockman said, adding that such discussions are “starting to happen.” The comment came two days after OpenAI disclosed

Maybe, just maybe, big tech firms need to do a better job of explaining their AI investment strategies. Shares of Google parent Alphabet fell 7% on Thursday after the company disclosed a further increase in capital expenditures this year—money it will spend on new AI chips, servers and data ...

Before we get into today’s column, some breaking news: Stripe is in talks to buy OpenRouter for about $10 billion. The news follows our report Friday that the$1.3 billion-valuation startup, whichhelps companies choose the best and cheapest AI models, was the target of takeover interest. ...

Amazon this week closed its AGI Lab, a San Francisco-based research and product team that was developing software to improve the usefulness of AI agents, according to an Amazon spokesperson. The lab was shuttered as part of Amazon’s layoffs in its artificial general intelligence unit earlier this week. AGI Lab was founded in December 2024 and initially included several dozen employees that

Alphabet’s Google disclosed Thursday it owns $94.1 billion in SpaceX shares, representing the bulk of a $99 billion in unrealized gains in marketable securities in the second quarter. The tech giant’s marketable equity securities include $80 billion in SpaceX shares it can’t sell in the short-term and $14.1 billion locked up through the third quarter of 2027, according to a quarterly filing .

Stripe is in talks to buy OpenRouter, a startup that helps app developers access hundreds of AI models, for close to $10 billion, according to a person with knowledge of the talks. A transaction could be announced within the next month, though the talks could still fall apart, the person said. OpenRouter has also held early discussions with Databricks about a sale, they said, but it’s not