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LATEST

OPay transactions more than double to $358 billion as IPO nears●New federal rules could end mortgage escrow interest for some homeowners. States are suing to block them●Braemont invests in consulting firm Thought Logic●The AI boom is not just driving stocks — it’s also moving the foreign-exchange market●Gas and diesel prices are setting records for this time of year — and there's no relief in sight●Bullish reports $280 million Q2 net loss as crypto trading slows●Easing inflation pressures, Cerebras earnings, falling Hormuz traffic and more in Morning Squawk●Water bills set to rise for many after firms permitted extra funding●OPay transactions more than double to $358 billion as IPO nears●New federal rules could end mortgage escrow interest for some homeowners. States are suing to block them●Braemont invests in consulting firm Thought Logic●The AI boom is not just driving stocks — it’s also moving the foreign-exchange market●Gas and diesel prices are setting records for this time of year — and there's no relief in sight●Bullish reports $280 million Q2 net loss as crypto trading slows●Easing inflation pressures, Cerebras earnings, falling Hormuz traffic and more in Morning Squawk●Water bills set to rise for many after firms permitted extra funding●

Asia

AI demand drives triple-digit profit growth for Chinese chip foundries SMIC, Hua Hong

Business - South China Morning Post · 1h ago · 🇨🇳 China

AI demand drives triple-digit profit growth for Chinese chip foundries SMIC, Hua Hong

China’s top two contract chipmakers, Semiconductor Manufacturing International Corporation (SMIC) and Hua Hong Grace Semiconductor, saw their profits surge by triple digits in the second quarter, amid a spike in demand for domestic artificial intelligence chips free of US export controls. Net profits for SMIC and Hua Hong jumped 261.7 per cent and 385.9 per cent year on year to US$479.2 million and US$38.6 million, respectively, in the June quarter. SMIC, the country’s largest foundry, said...

Read the full story at Business - South China Morning Post →

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