Latest news with #ChineseFirms
South China Morning Post
5 hours ago
- Business
- South China Morning Post
Caught in the chip war, Malaysia must rethink its US–China balancing act
Malaysia has landed in another tight spot – this time over claims Chinese engineers may have accessed high-end Nvidia chips on its soil to train artificial intelligence models, potentially breaching US export controls. Advertisement The timing could hardly be worse. Trade Minister Tengku Zafrul Aziz and Second Finance Minister Amir Hamzah Azizan were in Washington this week to negotiate down a steep 24 per cent 'reciprocal tariff' imposed by US President Donald Trump in April. Now, their efforts risk being overshadowed by fears in Washington that Malaysia is serving as a backchannel for Chinese firms to access restricted chips – fears that could harden American attitudes and demands. The report, first published by the Wall Street Journal, claimed that an unnamed Chinese firm had booked out Malaysian data centres equipped with Nvidia's most advanced chips. US policy restricts the sale or export of these chips to China and its military-linked entities, including via third countries. A banner showing Nvidia branding at the AI & Big Data Expo 2025 in London on February 5. Photo: Reuters While it is unclear whether any laws were broken, the perception alone could prove damaging. Analysts expect Washington may use the case as leverage to push Malaysia into stricter enforcement of US export controls, especially given the billions of dollars in investments by American tech firms in Malaysian plants and data centres.
CNA
18 hours ago
- Business
- CNA
EU lawmakers call for tighter controls on foreign ownership of key ports
There are growing calls from European lawmakers to tighten controls on foreign ownership of the bloc's critical transportation infrastructure. Chinese firms own stakes in more than 30 European ports and some EU officials see this is as a security concern. William Denselow reports.
Yahoo
20 hours ago
- Business
- Yahoo
Malaysia, Singapore Probe Nvidia-Powered AI Exports
Malaysian and Singaporean authorities are probing whether Chinese firms breached U.S. export controls by funneling Nvidia (NASDAQ:NVDA)-powered servers through Southeast Asia to train AI models. Malaysian trade regulators say they're verifying reports that Chinese engineers flew into Kuala Lumpur last March with suitcases full of high-end Nvidia server hardware. Simultaneously, Singapore's law minister flagged a parallel fraud investigation: Dell (NYSE:DELL) and Super Micro (NASDAQ:SMCI) serverspotentially fitted with U.S.-restricted chipswere shipped from Singapore to Malaysia under possibly false destination claims. Warning! GuruFocus has detected 3 Warning Sign with DELL. These moves come amid shifting U.S. export curbs on advanced AI semiconductorsrestrictions that have swung between the Biden and Trump administrationsand scrutiny of startups like DeepSeek for allegedly sidestepping those rules via third-party routes. AI workloads depend on accelerators like Nvidia's GPUs, making access to these chips a national-security flashpoint. If export-control loopholes are widespread, they could undermine U.S. policy objectives, tighten hardware supply for legitimate buyers and force cloud and AI providers to rethink sourcing strategies. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
London Seeks More Chinese Listings as City Battles IPO Drought
(Bloomberg) -- London is seeking to attract more Chinese firms to list on its stock exchange as the city struggles with a shrinking equity market and a deal drought across Europe. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports 'We need to get more IPOs happening in London,' Chris Hayward, policy chairman of the City of London Corp., said in an interview from Shanghai. 'We don't want to lose business across the Atlantic.' The authority for London's Square Mile financial district can provide opportunities for Chinese firms to secure customers and funding in the UK and drive them to list in the city via its connect scheme with Shanghai, Hayward said. The city can also encourage UK firms to raise capital and list on the Shanghai Stock Exchange, he said. China introduced its stock connect program with the UK in 2019, allowing listed companies to issue depository receipts on each other's exchanges. It later expanded the program to include Switzerland and Germany. Six years later, only a handful of Chinese firms, including Huatai Securities Co., have listed in London, raising a total $6.6 billion, and trading has been muted. Beijing and London vowed early this year to deepen economic and financial ties, promising efforts to boost the China-UK stock connect. 'You've got to proactively go out there and encourage listings on your exchange,' said Hayward, drawing lessons from Hong Kong's success in igniting a boom in initial public offerings in the first half of this year. Hayward, who was in Shanghai this week for China's annual financial Lujiazui forum, is traveling to Hong Kong later in the week for IPO discussions. Hong Kong's share-sale bonanza this year saw new listings and additional offerings fetch more than $27 billion as of early June. That eclipsed annual totals in the last three years, and is the most since records were reached in 2021, according to data compiled by Bloomberg. The London bourse, on the other hand, has had just four pending or trading IPOs this year, as its valuation discount to the rest of the world discourages firms. London, as a key offshore yuan center, has also worked with China's central bank to help promote the internationalization of its currency. London established a working group with the People's Bank of China in 2018 to monitor the yuan market in the UK capital. The authority has been pushing global asset managers in the city to issue new products in yuan to facilitate greater use of the currency, said Hayward. He downplayed the potential impact that UK's recent tax for wealthy non-domiciled residents and its immigration crackdown could have on London's appeal as a global financial center, while urging efforts to resolve the non-dom issue. 'I would encourage the government to continue to review this matter,' he said. 'It's important to us to try and keep wealth creators in this country.' Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
London Seeks More Chinese Listings as City Battles IPO Drought
London is seeking to attract more Chinese firms to list on its stock exchange as the city struggles with a shrinking equity market and a deal drought across Europe. 'We need to get more IPOs happening in London,' Chris Hayward, policy chairman of the City of London Corp., said in an interview from Shanghai. 'We don't want to lose business across the Atlantic.'
