European chip equipment stocks surged on Thursday following reports that upcoming US restrictions on China’s semiconductor industry might be less stringent than anticipated. Shares of ASML, a leading supplier of semiconductor tools, rose by 4.3%, while competitors BE Semiconductor and ASM International climbed 5% and 2.9%, respectively, outperforming the STOXX 600 index.
According to Bloomberg, the US may exclude Chinese memory chipmaker ChangXin Memory Technologies (CXMT) from its trade restrictions, though details remain uncertain. The US Commerce Department, which oversees export rules, is expected to release updated guidance after Thanksgiving.
ASML, which has seen a sharp decline in sales to China over recent quarters, declined to comment. The company previously projected that sales to China would shrink to 20% of its revenue by 2025, down from nearly half in the last 18 months. Other global semiconductor equipment suppliers, including US-based Applied Materials and Tokyo Electron, are also closely monitoring the situation.
Orange has entered a groundbreaking multi-year partnership with OpenAI, becoming the first European telecom company with direct access to pre-release versions of the company’s AI models. This collaboration will allow Orange to influence OpenAI’s development roadmap while ensuring secure hosting of AI infrastructure in Europe, according to the group’s AI chief, Steve Jarrett.
The partnership highlights the strategic importance of OpenAI’s widely used models, with over 50,000 Orange employees already integrating them into their work. Jarrett emphasised the financial and technological advantages of a direct relationship with OpenAI, boosting Orange’s position in the AI race.
In addition to the partnership, Orange is working with Meta and OpenAI to translate African languages like Wolof and Pular for customer support and broader non-commercial uses. The initiative aims to support governments, universities, and startups, expanding accessibility to underserved linguistic communities.
MTN South Africa, China Telecom, and Huawei collaborate strategically to advance 5G, cloud, AI, and business solutions. The partnership combines China Telecom’s global expertise in network solutions, MTN’s extensive regional reach, and Huawei’s advanced technology to drive digital infrastructure development across Africa.
The Executive Vice President of China Telecom Global emphasised that the alliance will unlock new business opportunities and enhance technological offerings in the region. The collaboration is also set to promote the growth of the Internet of Things (IoT), enabling non-computer devices like fridges to connect to the internet.
Why does it matter?
MTN South Africa anticipates that improvements in network services will provide new possibilities for business customers, especially in sectors like smart mining and industrial applications.
Amazon has reportedly developed a new generative AI model, code-named Olympus, capable of processing images and videos alongside text. This innovation is expected to reduce Amazon’s reliance on Anthropic’s Claude chatbot, currently a prominent feature of Amazon Web Services (AWS), according to sources cited by The Information.
The Olympus model promises enhanced functionality, such as recognising scenes in visual content. For example, users could search for specific moments, like a game-winning basketball shot, using simple text prompts. This advancement aligns with Amazon’s strategy to solidify its position in the competitive generative AI landscape, currently dominated by Google, Microsoft, and OpenAI.
Amazon’s efforts come after its recent $4 billion investment in Anthropic, echoing a similar amount injected last year. These investments bolster Amazon’s generative AI capabilities, signalling its commitment to catching up with its tech rivals. An official announcement for Olympus may be made at the upcoming AWS re:Invent conference next week, according to insiders.
Amazon declined to comment on the matter when approached by Reuters. The e-commerce giant’s push for cutting-edge AI underscores its ambition to rival industry leaders and redefine user experiences through advanced AI tools.
South Korea announced plans to provide 14 trillion won ($10 billion) in low-interest loans next year to support its chip sector amid growing competition from China and uncertainty over US trade policies under President-elect Donald Trump. The funds, managed by state-run banks, will include 1.8 trillion won for infrastructure like power lines at a new high-tech chip complex in Yongin and Pyeongtaek, designed to attract advanced chipmakers.
The government highlighted challenges posed by rapid advancements in China’s semiconductor industry and potential changes to US policies like the Inflation Reduction Act and Chips Act, which could alter global trade incentives. Trump has also pledged new tariffs on goods from China, Mexico, and Canada, raising additional concerns for South Korean exporters.
While South Korea leads in memory chip manufacturing through giants like Samsung Electronics and SK Hynix, it faces setbacks in chip design and contract manufacturing, where rivals are gaining ground. The government vowed to use all available resources to help the industry overcome its current challenges and maintain global competitiveness.
OpenAI is allowing employees to sell up to $1.5 billion worth of shares to Japan’s SoftBank Group in a new tender offer, according to sources familiar with the deal. This follows SoftBank’s $500 million investment in OpenAI during an October funding round that valued the Microsoft-backed AI startup at $157 billion. Employees have until 24 December to decide whether to sell their shares, with the offer price matching the last funding round.
SoftBank’s Vision Fund 2 will finance the purchase, reflecting CEO Masayoshi Son’s strategy to increase his stake in AI ventures. Son has aggressively expanded his AI portfolio, including investments in OpenAI and chip startup Graphcore, as he positions the conglomerate to ride the AI boom.
OpenAI continues to attract global attention with its flagship product ChatGPT, which now boasts 250 million weekly active users. The company’s rapid growth and high valuation highlight its central role in shaping the AI revolution.
Huawei has announced plans to expand its Harmony operating system with a target of 100,000 apps in the next 6–12 months. Chairman Xu Zhijun emphasised the need for personalised applications to strengthen the ecosystem and meet consumer demands. Currently, Harmony has over 15,000 apps catering to basic needs.
The push comes amid United Statessanctions, which have restricted Huawei’s access to Google’s Android. Xu called on developers, government agencies, and organisations to support Harmony, stressing its maturity will depend on widespread adoption and user patience.
HarmonyOS was unveiled in 2019 after the US imposed trade restrictions upon China, citing security concerns. Huawei remains committed to investing in its development to achieve technological self-reliance, with Xu describing the initiative as essential for the company’s future success.
Qualcomm’s interest in acquiring Intel has reportedly cooled due to the complexities involved in such a massive deal, according to Bloomberg. While a full acquisition now appears unlikely, Qualcomm may consider pursuing specific parts of Intel’s business or revisiting the idea in the future. Neither company has commented publicly on the report.
Qualcomm initially approached Intel in September, sparking speculation about a potential acquisition. Any deal would face significant antitrust scrutiny as it would unite two of the semiconductor industry’s biggest players. Qualcomm had previously explored acquiring sections of Intel’s design business, but no formal offer materialised.
Intel, once a dominant chipmaking powerhouse, has struggled in recent years, losing market share to competitors like TSMC and missing key opportunities in generative AI. The company’s declining fortunes have been reflected in a 50% drop in its stock price this year and its recent removal from the Dow Jones Industrial Average.
Nvidia CEO Jensen Huang reaffirmed the importance of global collaboration in technology during a visit to Hong Kong, even as potential United States policy shifts on export controls loom. Speaking to the media, Huang stressed that cooperation in science and technology underpins societal and scientific progress, a principle he believes will endure despite regulatory changes.
In a speech at the Hong Kong University of Science and Technology, Huang celebrated the transformative potential of AI, calling it ‘the most important technology of our time.’ He urged graduates to embrace the opportunities presented by a rapidly evolving industry and highlighted Nvidia‘s contributions to advancing AI and computing over the past 25 years.
Huang received an honorary doctorate at the event alongside other distinguished honourees, noting that the emerging era of AI offers a unique chance for young innovators to tackle global challenges and revolutionise industries.
Biotech startup Cradle has raised $73 million to expand its labs and team, aiming to make AI-powered protein design more accessible. Founded in 2022, the company uses language models to analyse proteins, often described as “an alien programming language,” to suggest modifications that improve functionality, such as heat resistance or manufacturability.
Cradle’s software has gained traction among biotech and pharmaceutical companies by reducing the time and cost of experimental rounds, which can be both expensive and unpredictable. Its simple SaaS model eliminates concerns about royalties or intellectual property, offering a streamlined approach compared to competitors that co-develop drugs or processes.
Despite being a software provider, Cradle maintains a laboratory in Amsterdam to validate protein designs and build datasets to refine its models. The latest funding, led by IVP with participation from Index Ventures and Kindred Capital, will support lab expansion and further hiring. CEO Stef van Grieken aims to scale Cradle’s tools to reach a million scientists worldwide.
