Chinese telecoms firm Huawei grew faster in 2023 than it has for four years, as it shrugged off the impact of US sanctions. Revenues rose by nearly 10% to 704.2bn yuan (£77bn) as the Shenzhen-based company enjoyed a rebound within its consumer segment, which includes smartphone handsets. The performance meant Huawei defied the effect of sanctions imposed by the US in 2019, when Donald Trump’s White House accused the firm of being a security risk, something Huawei denies. The UK also vowed in 2020 to remove Huawei from 5G infrastructure…
Tag: Technology sector
US orders immediate stop to some AI chip exports to China; Lloyds profits up but lending margins fall – business live
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US orders immediate halt to some AI chip exports to China, says Nvidia
The chip designer Nvidia has said the US has told it to bring in new curbs on the export of some of its high-end artificial intelligence chips to China immediately as regulators advanced the deadline. The restrictions were supposed to come into play 30 days after 17 October, when the Joe Biden administration announced measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. Nvidia did not say why the US government had accelerated the timing but does not expect a…
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