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| AI boom: SK Hynix reported record earnings and said it would quicken the pace of spending on advanced memory production equipment to meet still-increasing demand for artificial intelligence products and services. Management change: Veteran tech executive Tom Siebel said he will step aside as chief executive officer at his software company, C3.ai, after being diagnosed with an autoimmune disease that affects his sight. Intel’s troubles: The chipmaker’s sales forecast offered a glimmer of hope to investors, but executives provided few answers to questions about whether the once-mighty company can improve its technology enough to gain the trust of potential customers. | |
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| JD.com, the Chinese e-commerce company, is in advanced talks to acquire Ceconomy AG in a deal that could value the German electronics retailer at about $2.6 billion. The proposed acquisition, which would be a 23% premium to Ceconomy’s closing price on Wednesday, “reflects the company’s potential as a European entry point for JD.com, and strong profit-recovery expectations,” according to Bloomberg Intelligence analysts. | |
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| OpenAI and Google DeepMind were among the AI labs that tried to one-up each other in announcing the success of their artificial intelligence models at last weekend’s International Math Olympiad, a contest for high school students, Ellen Huet reports in today’s Tech In Depth. But the industry is competing for a lot more than a high school math prize and the intense race to finish at the top is pushing some companies to look for investment and support in ways they haven’t been comfortable doing in the past, she writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. | |
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