FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: ByteDance Taps Qualcomm in AI Chip Deal

By

ByteDance tapped Qualcomm for the supply of artificial intelligence data center chips, Reuters reported Tuesday.

The TikTok owner will buy millions of Qualcomm's custom AI-focused application-specific ​integrated circuits, making it one of the first major customers for the chip designer's AI-focused silicon, according to the report.

The move helps ByteDance turn an in-house design into production-ready semiconductors, Reuters wrote. The deal could sidestep U.S. restrictions, as long as the chips fall within legal computing thresholds.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

APRA to Introduce Three-Tiered Approach to Proportionality in Prudential Framework for Banking

The Australian Prudential Regulation Authority (APRA) wrote to banks and confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking, according to a Wednesday statement.Effective July 1, APRA said it will introduce a third tier of "Most Significant Financial Institutions" for banks with total assets of over AU$300 billion, raise the asset value threshold for banks to qualify as a "Significant Financial Institution" (SFI) to AU$30 billion from AU$20 billion, and automatically provide a 12-month transition period when a regulated institution moves to a higher tier.The regulator said the planned move was in response to the Council of Financial Regulators' review into small and medium-sized banks, undertaken in consultation with the Australian Competition and Consumer Commission.APRA also committed to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate.Judo Capital Holdings' shares shed about 1% in recent Wednesday trade.

$ASX:BEN$ASX:JDO$ASX:MQG$ASX:MYS
Asia

Yunji Technology Buys Back Shares

Beijing Yunji Technology (HKG:2670) repurchased HK$3.3 million worth of its shares from the open market, according to a Tuesday filing with the Hong Kong bourse.The robotics company's shares gained nearly 3% in morning trade Wednesday.The firm purchased 9,950 H shares for prices ranging from HK$329.4 to HK$323.8 apiece.

$HKG:2670
Asia

Market Chatter: China Vanke Offers to Repay Some Principal on Onshore Bonds In Exchange for Extending Maturity

China Vanke (HKG:2202, SHE:000002) is asking holders of some of its onshore medium-term notes to extend the bonds' maturity by one year, offering to repay part of the principal upfront in return, Reuters reported Tuesday.The distressed developer has offered to repay 40% of the principal if holders of two 2 billion yuan bonds due on June 15 and July 7 push maturity forward, the report said, citing sources. The notes offer coupons of 3.07% each.Two other corporate bonds due or puttable in July are also subject to the same proposal, Reuters reported.The company has scheduled a meeting with bondholders on June 5 with a voting deadline of June 9.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$HKG:2202$SHE:000002