Baidu's stock jumps 15%+ after the company announced plans to add its ChatGPT-like service “Wenxin Yiyan”, or “Ernie Bot” in English, to search in March 2023
Baidu Inc. surged more than 15% after affirming it's on track to publicly roll out its ChatGPT-like service in March …
Source: Chinese search giant Baidu plans to launch an AI chatbot, similar to OpenAI's ChatGPT, in March 2023, initially embedded into its main search services
Baidu Inc. is planning to roll out an artificial intelligence chatbot service similar to OpenAI's ChatGPT, according to a person familiar …
Chinese regulators approve Ant Group's plan to raise ~$1.5B for its consumer unit, signaling progress in the government-ordered overhaul of the fintech firm
Lulu Yilun Chen / Bloomberg :
The Securities Commission of The Bahamas says it didn't order FTX to reopen withdrawals for Bahamas-based customers, refuting FTX's statement
Nikhilesh De / CoinDesk :
The Securities Commission of The Bahamas says it didn't order FTX to reopen withdrawals for Bahamas-based customers, refuting FTX's statement
FTX said last week it had allowed Bahamas-based customers to withdraw funds at its regulators' request. — Crypto exchange FTX was not required …
FTX claims the company was hacked, telling users to delete FTX apps, not install app updates, and not to visit FTX.com, after $600M+ in crypto left its wallets
trustless, permissionless, uncensorable crypto—is the only path forward for the future. This week, we grieved. Next week, we build. @cz_binance : What a sh!t show... And it's going...
FTX claims it has been hacked, and instructs users not to install new upgrades or go to FTX.com and to delete FTX apps, after $600M+ in crypto left FTX wallets
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
After Chinese state media criticized online gaming as “opium for the mind” in a now-deleted article, Tencent announces stricter rules for young users
Shares of NetEase and Bilibili also suffer steep falls — Shares of Tencent Holdings Ltd. and rivals plummeted Tuesday …
China issues regulations for food delivery platforms, mandating minimum wage, respect for worker rights, and more, leading to Meituan shares dropping by 14%+
- It extended losses after Beijing issued food platform curbs — Meituan is grappling with a broader antitrust investigation
In a blow to the edtech sector, China orders tutoring companies teaching the school curriculum to go non-profit, bans them from IPOs and raising foreign capital
Bloomberg :
China issues regulations for food delivery platforms, mandating minimum wage, respect for worker rights, and more, leading to Meituan shares dropping by 14%+
- It extended losses after Beijing issued food platform curbs — Meituan is grappling with a broader antitrust investigation
China issues regulations for food delivery platforms, mandating minimum wage, respect for worker rights, and more, leading to Meituan shares dropping by 14%+
- It extended losses after Beijing issued food platform curbs — Meituan is grappling with a broader antitrust investigation
South Korea plans to spend around $450B to build the world's biggest chipmaking base over the next decade; Samsung to boost spending by 30% to $151B by 2030
Under intense pressure from China, Ant Group will become a financial holding company that is regulated more like a bank, among other changes
- Chinese regulators summoned Ant for meeting on April 12 — Ant to fold all financial operations into holding firm
Employees at Tencent Music, Meituan, and other Chinese tech giants are expecting increased antitrust scrutiny and penalties after Alibaba's record $2.8B fine
Yuan Yang / Financial Times : Tweets: @davidinglestv and @yuanfenyang See also Mediagazer Tweets: David Ingles / @davidinglestv : Alibaba's record fine in context. $2.8 billion is...
Sources: Indonesia's Gojek is in advanced talks for a merger with local e-commerce giant PT Tokopedia; the combined entity would be valued over $18B
- The deal would combine Indonesia's two most valuable startups — Discussions with Grab hit impasse over question of control
Sources: China is planning new policies to develop third-generation semiconductors through 2025, including R&D, education, and financing for the chip industry
- New five-year plan will include backing for next-gen chips — Beijing has already pledged $1.4 trillion of tech investments
Sources: TikTok has recently traded at valuations of between $105B and $110B on private markets and, one source says, even as high as $140B
Bloomberg : Tweets: @lisaabramowicz1 , @stevekovach , @gregorhunter , @msnabilaahmed , @lucas_shaw , @ruima , @deemurthy , @daniburgz , @davidinglestv , @pingroma , and @chrisgail...
US and China trade deal will clamp down on counterfeit and pirated goods, some of which end up on Amazon and other platforms
Annie Palmer / CNBC :
Source: ZA Bank, one of eight firms granted a Hong Kong digital banking license, starts a pilot with a 6% rate for deposits, twice above the market rates
- Eight digital banks have been granted licenses in Hong Kong — Transformation comes as city gripped by pro-democracy protest