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Latest: Fintech News

Chipmaker SMIC Warns of Weak 2023 on Slipping Tech Demand
Chipmaker SMIC Warns of Weak 2023 on Slipping Tech Demand

SMIC said it predicts revenue for the year ahead to "decline by low-teens percentage year-over-year” marking a break from previous continual growth

Alibaba, Tencent Race to Build ChatGPT Rivals – Nikkei
Alibaba, Tencent Race to Build ChatGPT Rivals – Nikkei

Baidu also said earlier this week it will soon finish internal testing for a ChatGPT alternative called 'Ernie Bot'

China to Set Up Blockchain Research Centre in Beijing – SCMP
China to Set Up Blockchain Research Centre in Beijing – SCMP

The centre will be tasked with exploring blockchain’s potential for the government, Chinese citizens and industries

Google AI Chatbot’s Factual Error in Ad Costs $100bn – Reuters
Foxconn in ‘Serious’ Talks to Invest in India’s Karnataka
Australia to Remove Chinese Surveillance Cameras at State Offices
China Android Phones Have 30 Data-Collecting Apps – Register
New System Needed to Regulate Big Tech in Finance, BIS Says
Japan May Opt for Milder Chip Curbs on China Than US: Lawmaker
Chip Shortage Pushes Japan’s Subaru to Slash Output Target

Fintech: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors