Technology shares climbed on Thursday, buoyed by strong results from Nvidia, despite the AI chip company’s boss issuing a warning about the rise of Chinese rivals. The Stoxx Europe tech index rose by 0.8% on Thursday following Nvidia’s financial report, with the Dutch semiconductor equipment maker ASML rallying by 2.4%. In the US, futures for the tech-focused Nasdaq climbed 2%, and shares in Nvidia itself jumped 6% in pre-market trading. The boost to tech and artificial intelligence stocks came hours after Nvidia beat Wall Street forecasts, with quarterly revenues jumping…
Tag: Elon Musk
Trump tariffs blocked by US federal trade court – US politics live
From 30m ago US trade court blocks Trump’s tariffs A federal trade court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. The ruling from a three-judge panel at the New York-based court of international trade came after several lawsuits arguing Trump has exceeded his authority, left US trade policy dependent on his whims and unleashed economic chaos. “The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the court ruled,…
China’s BYD overtakes Tesla as top-selling electric car seller
Elon Musk’s Tesla has been overtaken by its Chinese rival, BYD, as the world’s top selling electric carmaker. BYD, which has been backed by the US investment billionaire Warren Buffett since 2008, has beaten Tesla’s production for a second consecutive year. BYD, which stands for Build Your Dreams, said it produced 3.02m new energy vehicles in 2023. The American multinational Tesla announced on Tuesday that it made 1.84m cars. However, BYD’s sales figures include 1.6m battery-only cars, and 1.4m hybrids, which means Tesla is still the leader in the production…
Taiwan tells Elon Musk it is ‘not for sale’ after latest China comments
Taiwan is “not for sale”, the island’s foreign minister has said in a stern rebuke to Elon Musk, who asserted Taiwan was an integral part of China, again wading into the thorny issue relations between Beijing and Taipei. His comments came as dozens of Chinese warships and planes were detected near Taiwan for suspected military exercises. Musk, the billionaire owner of the social media platform X formerly known as Twitter, as well as the Tesla electric car company and SpaceX, made the comments to the All-In Summit in Los Angeles…
When Elon Musk’s ‘flying sofas’ give Ukraine internet access, we can’t sit comfortably | John Naughton
In February 2022, as Russian tanks rumbled into Ukraine, a cyber-attack took down the satellite system run by Viasat that was providing high-speed communications for Ukrainian military forces, rendering them instantly blind, deaf and dumb. With his forces knocked offline, the Ukrainian digital minister sent a plea to an American billionaire, one Elon Musk, for help. Within hours, Musk responded that his Starlink system had been activated in Ukraine. Days later Starlink terminals began to arrive. Pause for context update. Musk is the founder and Supreme Leader of SpaceX, an…
‘The everything app’: why Elon Musk wants X to be a WeChat for the west
Daily life in Chinese cities is nearly impossible to navigate without WeChat, to the extent that being barred from the country’s super-app has been likened to a “digital death”. Commonly described as a smartphone messaging platform, it is more like several apps rolled into one, used for messaging, social media, payments, subscriptions, utility bills, food deliveries, plane and train tickets, ride hailing and much more. It is owned by the Chinese tech giant Tencent. And Elon Musk would like a rebranded Twitter to be just as indispensable in the west.…
Twitter and Tesla’s interests at odds in Elon Musk’s quiet China visit
Followers of Elon Musk didn’t know what to expect from his trip to China. Would he speak about Tesla, a company with a large market and manufacturing footprint there? Or SpaceX, with its symbiotic relationship with the American state? Or even Twitter, the social network he bought because “free speech is the bedrock of a functioning democracy”? The one thing no one expected: silence. Musk sent his last tweet late on Monday night. The uncharacteristic hiatus was broken only on Thursday morning when he returned to the US and wrote…
TikTok has been spying on reporters – exactly no one is surprised
Hello and welcome to TechScape. Alex is now off on paternity leave, and in his place a rotating cast of writers will give their takes on the world of tech. Apologies to any readers who have begged Alex for fewer stories about Elon Musk and crypto, but in a post-Twitter takeover world there are no quiet weeks for tech reporters. In the last few weeks, Musk has handed over documents for the latest edition of the “Twitter Files” to controversial author Alex Berenson (with the not-so revelatory news that Twitter…
Job cuts and falling shares: how did it all go so wrong for the US tech sector?
Amazon announced 18,000 job cuts, Apple’s share price fell below $2tn (£1.7tn) and there was more bad news from Tesla: it has been another tough week for big US tech firms. But this has not been a one-off. The ongoing drama at Twitter since its takeover by Elon Musk in October has taken place against a backdrop of global economic uncertainty, retrenchment from aggressive expansion plans and China’s disruptive transition from Covid lockdowns to rocketing case numbers as restrictions ease. In fact this week’s events have been a continuation of…
‘Extinction is on the table’: Jaron Lanier warns of tech’s existential threat to humanity
Jaron Lanier, the eminent American computer scientist, composer and artist, is no stranger to skepticism around social media, but his current interpretations of its effects are becoming darker and his warnings more trenchant. Lanier, a dreadlocked free-thinker credited with coining the term “virtual reality”, has long sounded dire sirens about the dangers of a world over-reliant on the internet and at the increasing mercy of tech lords, their social media platforms and those who work for them. Nothing about the last few weeks – of chaos on Twitter and the…