Georgijevic Listen below or on the go on Apple Podcasts and Spotify ByteDance ( BDNCE ) working with Broadcom ( AVGO ) on advanced AI chip - report. (00:25) Fast-fashion firm Shein may abandon London IPO - report. (01:16) Freight M&A: UPS sells Coyote Logistics to RXO.
(02:23) This is an abridged transcript of the podcast. ByteDance ( BDNCE ), the Chinese firm that owns TikTok, is collaborating with Broadcom (NASDAQ: AVGO ). Two sources told Reuters that the companies are working on an advanced AI chip.
The goal is to secure a stable supply of high-end chips and lower procurement costs amid China-U.S. trade tensions.
Taiwan Semiconductor ( TSM ) will manufacture the 5 nanometer chip which is an application-specific integrated circuit that will comply with U.S. export curbs.
The new chip is still being designed by Taiwan Semi ( TSM ) and is not expected to start manufacturing this year. While the companies have not confirmed the partnership, it would be the first between a Chinese company and a U.S.
firm involving 5 nm or more advanced chipmaking technology since Washington imposed chip export restrictions amid national security fears. Chinese fast-fashion platform Shein may scrap an initial public offering in London over how the retailer has recently been portrayed in the UK. A series of criticisms leveled at Shein has annoyed some in the upper parts of the Chinese government, according to a report in Mail on Sunday, which cited unidentified senior City sources.
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