Inside TSMC, the Taiwanese chipmaking giant that’s building a new plant in Phoenix

As the world grapples with an ongoing chip shortage, a quiet giant among chipmakers has committed to investing $100 billion over three years to ramp up production. Taiwan Semiconductor Manufacturing Company may not be a household name, but with a market value of over $550 billion, it’s one of the world’s 10 most valuable companies. …

Chip shortage could persist for another 2 to 3 years, major Chinese consumer goods maker warns

QINGDAO, China — The global chip shortage could persist for another two to three years before ending, the President of Hisense, one of China’s largest TV and household goods makers, told CNBC. Industries from consumer electronics companies to automakers are dealing with a shortage of semiconductors. This has led to shortage of products such as …

Microsoft shutting down LinkedIn in China amid censorship rules

Microsoft is shutting down its LinkedIn service in China later this year after censorship rules were tightened by Beijing. The company said in a blog post Thursday it has faced a significantly more challenging operating environment and greater compliance requirements in China. LinkedIn will …

U.S. officially the top destination for bitcoin miners, beating out China for the first time

The U.S. is now the number one destination for bitcoin miners, eclipsing China for the first time ever. While it was already trending in that direction, new data from Cambridge University released early Wednesday makes it official. As of July, 35.4% of bitcoin’s hashrate – an industry term used to describe the collective computing power …

Evergrande plans to roll out electric cars in 2022, sending shares of its auto unit 6% higher

People walk by an unopened shop for Evergrande’s electric cars during the last day of the National Day and Golden Week holidays on October 7, 2021 in Wuhan, Hubei province, China. Evergrande, China’s largest property developer, is facing a liquidity crisis with total debts of around $300 billion. The problems faced by the company could …

Tesla took 12 years to build 100,000 cars. China’s Xpeng and Nio took about half that time

Xpeng Motors launches the P5 sedan at an event in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third production model and features so-called Lidar technology. Arjun Kharpal | CNBC BEIJING — China’s electric car companies are racing to ramp up production, faster than Tesla did in its early days. U.S.-listed start-up Xpeng …

China tech stocks surge after food delivery giant Meituan is hit with $534 million antitrust fine

GUANGZHOU, China — Meituan shares surged over 7% on Monday, leading China technology stocks higher, after the food delivery giant was slapped with a fine as a result of an antitrust probe. On Friday, China’s State Administration for Market Regulation (SAMR) said Meituan abused its dominant position in the country’s online food delivery market. The …

China will continue curbing tech monopolies: Central bank chief

China will continue to curb monopolistic behaviors of internet platform companies and strengthen the protection of consumer privacy and data security, central bank governor Yi Gang said. The central bank will work with anti-monopoly authorities to prevent firms from abusing dominant market positions and actively deal with new monopoly problems, Yi …

Volvo says shift to electric cars is the reason behind its $2.9 billion IPO

A Volvo C40 Recharge photographed in Stockholm, Sweden, on March 2, 2021. CLAUDIO BRESCIANI | AFP | Getty Images The CEO of Volvo Cars has told CNBC that the automaker’s shift to electric vehicles is the reason behind its planned listing on the Nasdaq Stockholm stock exchange. The company wants to raise 25 billion Swedish …

How Evergrande could turn into China’s Lehman Brothers

Evergrande Center in Shanghai, China on September 17, 2021 Synopsis At the end of June, Evergrande had nearly 2 trillion Yuan (USD309 billion) of debt on its books. It is on the verge of debt restructuring or even bankruptcy, many institutions believe. A bankruptcy would amount to a financial tsunami, or as some analysts put …