Mike Wheatley
Latest from Mike Wheatley
Trump blocks China-linked HieFo from acquiring US firm’s semiconductor assets
U.S. President Donald Trump issued an executive order late Friday to block a multimillion-dollar acquisition that he says would allow a Chinese-run company to access to valuable semiconductor technologies. Delaware-based HieFo Corp. announced in 2024 that it intends to acquire the chips and indium phosphide wafer fabrication businesses of a company called Emcore Corp. for ...
Reuters’ investigation claims Meta tried to deceive regulators over fake ads
Fearing billions of dollars in lost revenue, Meta Platforms Inc. reportedly developed an internal “playbook” aimed at sidestepping pressure from regulators to crack down on scam advertising on its Facebook and Instagram platforms. A special report by Reuters published Wednesday cited internal company documents that show how it adopted tactics that made it much more ...
Report: Brookfield Asset Management to launch cloud business focused on lower-cost AI infrastructure
Brookfield Asset Management Ltd., one of the world’s largest alternative investment management firms, could become an unlikely rival to cloud infrastructure giants such as Amazon Web Services Inc. and Microsoft Corp. A report in The Information yesterday suggests it’s planning to launch a cloud computing business that would lease artificial intelligence chips directly to customers. ...
Moonshot AI, one of China’s leading ‘AI Tigers,’ raises $500M to fill its AI infrastructure war chest
Chinese large language model developer Moonshot AI has reportedly raised $500 million in funding at a time when its domestic artificial intelligence rivals are gearing up to hit the public markets. The Series C funding round was first reported by the South China Morning Post, which named IDG Capital as the lead investor, laying out ...
Elon Musk reveals plan to expand xAI’s ‘Colossus’ data center to 2 gigawatts
Elon Musk’s xAI Corp. is looking to expand its sprawling artificial intelligence data center complex in Memphis after purchasing a third building at the site. It’ll house thousands of new servers that cater to AI models and bring the site’s total computing capacity to almost 2 gigawatts, Musk (pictured) wrote in a post today on X. ...
Chinese startup Z.ai seeks $560M raise in Hong Kong IPO listing
One of China’s largest large language model developers, Z.ai, today filed plans for an initial public offering on the Hong Kong Stock Exchange. It’s scheduled to list its shares on Jan. 8 under the ticker “2513,” and claims that by doing so it will become “the world’s first publicly listed foundation model company.” The company, ...
China targets semiconductor self-sufficiency with ‘50% rule’ imposed on local chipmakers
China’s rapid advances in semiconductor development are being fueled by a previously undocumented rule that requires local chipmakers to use at least 50% domestically made equipment, according to a report today by Reuters. According to three people familiar with the matter, the rule went into effect earlier in the year. It requires chipmakers seeking to ...
SMIC buys out subsidiary for $5.8B as China’s chipmaking progress accelerates
Semiconductor Manufacturing International Corp., operator of China’s largest semiconductor fabrication facility, is going to get even bigger after announcing plans to buy the remaining 49% stake of a smaller foundry it already controls. SMIC said it will acquire the rest of Semiconductor Manufacturing North China Corp. for 40.6 billion yuan ($5.79 billion) to assume full ...
Octopus Energy spins out AI-native utility software subsidiary Kraken
British clean energy giant Octopus Energy Group Ltd. has announced it’s spinning off its most valuable technology asset as a standalone entity. The company said its Kraken Technologies Ltd. subsidiary will become an independent company valued at $8.65 billion after it closed on a $1 billion funding round led by D1 Capital Partners. Octopus is ...
Meta Platforms buys Manus to bolster its agentic AI skillset
Meta Platforms Inc. is pushing into autonomous artificial intelligence agents with the acquisition of Singapore-based Manus, which made headlines when it first emerged earlier this year for its ability to perform tasks using a web browser without human supervision. Manus shot to fame in March, just weeks after China’s DeepSeek Ltd. shocked the world with ...