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Latest: Fintech News

Chinese Tech Giants Pouring Cash Into AI Processors – FT
Chinese Tech Giants Pouring Cash Into AI Processors – FT

Alibaba, Tencent and Bytedance are splurging on AI processors and infrastructure to meet strong demand for large-language models and data centres

Investors in Musk’s X Tied to Sanctioned Putin Allies – Essanews
Investors in Musk’s X Tied to Sanctioned Putin Allies  – Essanews

Scrutiny of X's links to Russian oligarchs comes ahead of the November US election that will see Democratic nominee Kamala Harris run against second-time Republican nominee Donald Trump

PDD Stock Plunges 28% as Revenue Hit by China Slowdown
PDD Stock Plunges 28% as Revenue Hit by China Slowdown

E-commerce giant sees $55 billion knocked off its market cap in record plunge after quarterly sales miss estimates amid concern over China's severe downturn and its 'global outlook'

Many US Manufacturers Don’t Want Tariff Hikes on China Imports
IBM Closing China Research Labs, Will Lay Off Over 1,000 Staff
Telegram CEO Arrested on ‘Miscalculated’ France Visit – Guardian
China Damns Latest US Ban on 42 Firms Tied to Russian War
China Using Microsoft, Amazon Cloud to Beat AI Chip Sanctions
Call For Ban on Single-Use Plastics as UN Treaty Talks Restart
Musk’s Plunging Reputation Putting Australians Off Tesla – ABC

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