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AI & Enterprise

AI revenue rises but profits still distant; China\'s Z.ai and MiniMax seen in loss until 2030

China\'s AI companies Z.ai and MiniMax could remain loss-making until 2030 despite rapid revenue growth, with heavy spending on computing resources seen weighing on profitability. Macquarie\'s Ellie Jiang cited a severe shortage of computing resources in China, worsened by U.S. restrictions on exports of Nvidia advanced processors. The firms\' annual recurring revenue is rising, but investors are increasingly focused on costs, margins and other valuation metrics beyond ARR.

Telecommunications & Media

Outlook splits over Apple 20th anniversary iPhone \'all-glass\' design and possible launch next year

Market expectations are diverging again over whether Apple will apply an all-glass design to its 20th anniversary iPhone expected next year. A Jefferies analyst was reported as saying Apple has dropped the idea, while Bloomberg reporter Mark Gurman rejected that. The debate ties to former Apple design chief Jony Ive’s long-held vision of an iPhone that is essentially a single sheet of glass, and to questions over timing, naming and how far Apple moves toward that goal.

Telecommunications & Media

Apple 20th anniversary iPhone to launch as planned, report says

Apple is pressing ahead with a redesign of next year’s iPhone Pro models aimed at the iPhone’s 20th anniversary, a report said. Bloomberg reported the company is keeping its new design plan, featuring a glass-focused exterior. The report contradicts a claim by Jefferies analyst Edison Lee that an all-glass iPhone plan was cancelled due to production yield issues. Jefferies cut its Apple rating and lowered its target price.