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Industry

Samsung Electronics joins $1 trillion market cap club, Asia's second after TSMC

Samsung Electronics crossed the $1 trillion market capitalisation threshold as shares rose more than 10 percent on May 6 amid surging semiconductor demand driven by an AI boom, TechCrunch reported. The company said first-quarter operating profit rose eightfold from a year earlier as high-bandwidth memory demand lifted margins. Reports that Apple is in talks with Samsung and Intel also supported the stock. The company faces labour and cost pressures.

AI & Enterprise

DeepSeek valuation jumps as it seeks funding at $45 billion

Chinese AI model developer DeepSeek is in talks to raise its first venture funding round, with its valuation rising in a matter of weeks from $20 billion to $45 billion, the Financial Times and Bloomberg News reported on Tuesday. The round is led by China’s state semiconductor investment fund, with Tencent and Alibaba discussing participation. DeepSeek drew attention after releasing an LLM trained with fewer computing resources and costs.

AI & Enterprise

xAI shifting from AI model developer to cloud infrastructure company?

xAI and AI company Anthropic announced a partnership under which Anthropic will take all computing capacity at xAI’s Colossus 1 data centre, TechCrunch reported on Tuesday. Anthropic, which secured about 300 megawatts of capacity, can immediately increase usage of its Claude service. TechCrunch said xAI is monetising idle Colossus 1 after moving training to Colossus 2, in a deal estimated at several billion dollars.