This Past Week in Tech
It was a good week for strikes against potentially monopolistic giants, despite the weakening economy under the Trump tariff war.
Trump tariffs trigger tech stock sell-off
The trade war is heating up as tech stocks endured a massive sell off this week. The uncertainty introduced by the trade war escalations initated by President Trump China’s Ministry of Commerce urged the U.S. to “immediately cancel” the unilateral tariffs and warned of “resolute counter-measures.” However, semi-conductors were granted an exception to all tariffs. But not even tariff exemption saved NVIDIA from a big tumble. Financial experts have upgraded the chance of economic recession from 20% to 35% this week.
Amazon launches satellites and makes bid for Tiktok
Amazon gunning for Starlink and X, announced the dates launch of their satellites for Project Kuiper for the launch of their satellites and made a bid to buy TikTok this week, CNBC has confirmed. If successful, Project Kuiper and an Amazon TikTok would provide significant challenges to Starlink and X respectively.
China makes a bold leap forward in the electric vehicle market.
Meanwhile, in the future of cars department, Chinese electric vehicle makers Xiaomi, Xpeng, and Leapmotor each delivered nearly 30,000 or more cars in March—roughly double the numbers reported by several competing startups.
Cerebras Gets CFIUS Clearance for IPO Move
Artificial intelligence chipmaker Cerebras announced Monday that it has received approval from a U.S. committee to sell shares to Group 42, an AI company backed by Microsoft and based in the United Arab Emirates.
The clearance, granted by the Committee on Foreign Investment in the United States (CFIUS), is a crucial step for Cerebras as it moves forward with plans to go public. Cerebras is a main competitor to NVIDIA.
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