Tesla’s sales in China continue to climb, with weekly insurance registrations reaching their third-highest level this year. The company’s Shanghai Gigafactory is running at full capacity, and Tesla remains confident about its long-term prospects in the highly competitive Chinese market.
Apple’s iPhone 16 launch has fallen short of expectations in China, particularly due to the lack of AI features. Consumers are expressing disappointment and turning to competitors like Huawei, which boasts AI capabilities and has seen a surge in smartphone sales. While analysts believe the lack of AI won’t significantly impact short-term sales, Apple faces a challenge in the Chinese market, where AI integration is becoming increasingly crucial.
AMD CEO Lisa Su has declared the start of an artificial intelligence supercycle, unveiling an aggressive roadmap for AI chips that aims to challenge NVIDIA’s dominance. AMD plans to release new AI chips annually, starting with the MI325 later this year and continuing with the MI350 in 2025 and the MI400 in 2026. These chips are designed for training and inference of large language models like ChatGPT, and AMD expects significant revenue growth in the AI chip market.
The CNN Money Fear and Greed index showed a slight improvement in market sentiment, but remained in the ‘Fear’ zone. Despite last week’s losses, the Dow Jones surged over 1%, driven by positive earnings reports and economic data. NVIDIA and Relay Therapeutics saw significant share gains after announcing positive news. Investors are eagerly awaiting earnings results from several companies.
IHIF Asia, hosted by Questex, promises to be a pivotal event for the hospitality investment landscape in the Asia Pacific region. The forum will connect global and regional investors with lucrative opportunities, driving innovation and growth in this dynamic market. The event will focus on emerging trends like serviced apartments and co-living concepts, while also providing insights into the region’s recovery from the COVID-19 pandemic.
Apple is reportedly in talks with Micron, Tata Group, and other Indian chip manufacturers to source semiconductors for its iPhones produced in India. This move aligns with Apple’s plan to increase its Indian iPhone production to 26% of its global output by 2026, creating significant business opportunities for Indian chipmakers.
In a recent podcast appearance, Elon Musk reaffirmed X’s commitment to respecting the laws of each country while championing free speech. He addressed concerns about the platform’s openness, suggesting that those who fear public discourse may be trying to protect false narratives. Musk also highlighted that X will comply with local legal regulations, taking necessary actions like account suspensions or content removal if required.
Renowned economist Peter Schiff has issued a stark warning, predicting that Federal Reserve rate cuts will not prevent a recession. He believes the US economy has been in a recession for some time, despite official confirmation. Schiff’s warning aligns with growing concerns among financial experts, with many predicting an impending recession despite the Fed’s actions.
Rwanda is positioning itself as a major player in the global medical cannabis market. The country legalized medical cannabis in 2021, and investments are pouring in to establish production facilities. With its fertile land and favorable climate, Rwanda aims to become a significant contributor to the growing medical marijuana industry, attracting foreign investment and generating substantial economic benefits.
U.S. stock indices closed higher on Monday, led by gains in tech giants like Palantir and Nvidia. Apple, Oracle, and Tesla also saw significant movement, fueled by various factors including new product launches, earnings reports, and industry developments.
