technology

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LG Energy Solution (LGES), a leading South Korean battery manufacturer, has signed a major deal with Tesla worth $4.3 billion, making LGES a key supplier of lithium iron phosphate (LFP) batteries for Tesla’s energy storage systems. The agreement marks a strategic shift for Tesla as it aims to reduce its dependency on Chinese imports amid looming tariff threats from President Donald Trump.
According to sources familiar with the matter, the batteries will be produced at LGES’s plant in Michigan, USA.

South Korea Expands Business Amid U.S. Demand Surge
LGES officially announced the multi-billion-dollar deal on July 30. The agreement guarantees deliveries for over three years. While the company did not disclose the client's name or the batteries' end use, speculation suggests they may be utilized in both vehicles and energy storage applications.
With demand for electric vehicles declining since the second half of last year, LGES is leveraging the situation to boost LFP battery sales in the U.S. and solidify its position as a global battery supplier. Meanwhile, the growing number of AI-driven data center projects has created strong new demand for reliable power storage – a major growth opportunity.
When questioned about the anonymous client, LGES cited contractual confidentiality. Tesla declined to comment.

Tesla Rethinks Strategy Over Tariff Risks
Tesla CFO Vaibhav Taneja has previously warned that Trump’s tariff threats are hurting the company’s business and revenues. Most of Tesla’s LFP batteries originate from China, a key U.S. trade partner, now facing increasing restrictions.
This new agreement with LGES is a logical step: by sourcing batteries produced domestically, Tesla avoids tariff exposure. Recently, Tesla also signed a massive $16.5 billion chip supply deal with Samsung – another South Korean company – underlining the rising importance of Korean firms in Tesla’s supply chain.

South Korea Moves to Prevent Tariff Fallout
South Korea is actively negotiating with the U.S. to prevent the 25% import tariff scheduled for August 1. In a show of urgency, three government officials met with U.S. Secretary of Commerce Howard Lutnick to seek common ground.
Although Chinese companies still dominate LFP battery production globally, they face increasing challenges entering U.S. markets. LGES is one of the few players with enough local infrastructure to step in.
The company launched its first U.S. plant in Michigan this May and now plans to expand production lines for energy storage systems — a pivot from EV batteries amid persistent market weakness.

#Tesla , #Tariffs , #Musk , #Technology , #worldnews

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Nvidia has placed a massive order for 300,000 H20 chips from Taiwanese manufacturer TSMC, just days after Donald Trump lifted the export ban on chip sales to China. The move immediately triggered renewed interest from Chinese tech giants, which had previously been racing to secure access to H20 chips.
According to Reuters, Nvidia decided to restart production of these chips—specifically designed for the Chinese market—as demand quickly outpaced its existing stockpile of 600,000 to 700,000 units. While H20 chips are less powerful than Nvidia’s high-end H100 and Blackwell series, they still fully support the company’s software stack and comply with the revised U.S. export regulations.

Why H20? And Why Now?
The H20 chip was developed in response to earlier U.S. sanctions banning the export of advanced GPUs to China. Though less computationally intensive, H20 chips offer enough performance for artificial intelligence and machine learning applications.
Nvidia CEO Jensen Huang, who recently visited Beijing, told Chinese clients that the company would only resume production if they committed to significant purchases. Even then, he warned, restarting the supply chain could take up to nine months.

Chip Sales Tied to Rare Earth Trade Talks
The export ban reversal wasn’t a coincidence—it was part of broader Trump administration negotiations with China over rare earth magnets, a strategic commodity that Beijing has been restricting amid rising trade tensions. These magnets are crucial to U.S. industries from defense to electric vehicles.
In return for allowing H20 exports, the U.S. hopes to secure more consistent supplies of rare earth elements. However, critics in Washington argue that even a scaled-down chip like the H20 could enable China to strengthen its AI infrastructure and compete with the U.S. in strategic technologies. Concerns remain about how these chips may be used once they cross the border.

China’s Demand Is Surging
Tech giants like Alibaba, Tencent, and ByteDance had already bulk-ordered H20 chips before the April ban. Now, with demand only growing, Nvidia is asking Chinese buyers to submit updated documentation and forecasts, including end-client projections, to help speed up the approval process through the U.S. Department of Commerce.
Reportedly, Nvidia has already sold over 1 million H20 chips. With the new batch of 300,000 units on the way and more in reserve, the company appears confident that Chinese demand is strong enough to justify the commercial and political risks—though exports won’t move forward until official export licenses are granted.

#NVIDIA , #artificalintelligence , #china , #Technology , #AI

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

What is blockchain and how does it work?

**Key Points**
- **Blockchain** is a digital ledger that securely records transaction data on a distributed network of computers.
- Blockchain ensures data integrity through its immutable nature, achieved through cryptography and consensus mechanisms, meaning once information is recorded, it cannot be retroactively altered.

The Inside Job: How They Stole the Funds
A Beijing court has sentenced eight individuals to prison for orchestrating a sophisticated $20 million embezzlement scheme from a Chinese tech company (name withheld), followed by laundering the proceeds through Bitcoin. The ringleader, Feng, a senior employee at a short-video platform, exploited his authority over vendor onboarding, bonus approvals, and payments to systematically divert funds over 12 months.

Key Tactics Used:
- Created fake vendor accounts with inflated "performance bonuses"
- Collaborated with external partners (Tang and Yang) to submit falsified documentation
- Exploited internal policy loopholes to avoid detection
The Bitcoin Laundering Operation
After siphoning 140 million yuan ($20M), the group converted the stolen funds into BTC using:
1. Multiple Crypto Exchanges – Spread transactions across platforms to avoid flags
2. Coin Mixers – Used privacy tools like Wasabi Wallet to obscure trails
3. Peer-to-Peer (P2P) Networks – Cashed out via underground markets

Forensic Challenges:
- Mixers complicated blockchain tracing efforts
- Transactions spanned 15+ wallets before conversion to fiat

Sentences and Legal Implications
- Feng: 14.5 years (embezzlement + money laundering)
- Tang/Yang: 8–12 years (fraud conspiracy)
- Five Accomplices: 3–5 years (aiding money laundering)

Prosecutor’s Statement:
"This case sets a precedent for punishing crypto-enabled commercial corruption. We’re enhancing blockchain forensics to track similar crimes."
— Haidian District Procuratorate

Broader Impact
- Corporate Reforms: Beijing firms are now auditing payment systems and implementing multi-signature approvals.
- Regulatory Response: China’s Supreme Court plans to classify crypto mixing as an aggravating factor in fraud cases.
- Crypto Market Risk: Increased scrutiny on P2P exchanges in Asia.

Lesson for Businesses:
"Decentralized finance tools empower criminals too. Internal controls must evolve with financial technology."
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#Technology #EmploymentStatistics #job #money #crypto

This week, Shanghai transformed into a global hub for artificial intelligence as thousands of tech leaders, entrepreneurs, and government officials gathered for the annual World Artificial Intelligence Conference (WAIC). Two topics dominated the discussions — Chinese AI startup DeepSeek, which has drawn global attention with its powerful low-cost model, and Donald Trump’s new AI Action Plan, aimed at cementing the United States' dominance in this critical field.

The Race for AI Supremacy Intensifies
While Beijing accelerates its efforts to overtake the U.S. in AI development, President Donald Trump recently signed a comprehensive package of AI reforms that removes regulatory hurdles and boosts infrastructure for AI-powered data centers.
“From this day forward, it is the policy of the United States to do whatever it takes to become the world leader in artificial intelligence,” Trump declared, with Nvidia CEO Jensen Huang also in attendance.
Across the Pacific, China is rapidly catching up. Local startup DeepSeek, backed by tech giants like Alibaba and agile newcomers like Minimax, is challenging the notion that top-tier AI requires billions in chips and server farms. While DeepSeek and its founder Liang Wenfeng were not listed on the official schedule, their influence permeated nearly every conversation at the event.

Eyes on DeepSeek R2
DeepSeek made headlines earlier this year with its simple yet high-performing AI model. Now, all eyes are on its next release — DeepSeek R2. However, the release has been delayed, reportedly due to technical issues or Liang’s perfectionist standards. Despite this, the company remains a symbol of China’s AI aspirations, having received public praise from President Xi Jlnping — a rare endorsement that underscores its national significance.

Robots and Venture Capital Dominate the Expo Floor
Aside from language models, humanoid robots were a major highlight in Shanghai. Companies like UBTech, Unitree, and AgiBot showcased robots with surprising dexterity. One demonstration showed UBTech’s Walker S2 changing a battery — a choreographed clip that signaled the country's ambitions and progress.
With unit prices falling below $10,000, Chinese companies are now targeting mass production, a feat that American firms have yet to achieve at a viable commercial scale.
Meanwhile, venture capital is roaring back. Firms such as Lightspeed China Partners and Monolith Management are raising over $2 billion in USD-denominated funds, aiming to attract global investors seeking a foothold in China’s tech resurgence.

American Firms Stay in the Background
Unlike 2024 — when Tesla wowed crowds with its Cybertruck and Optimus robot — U.S. tech giants remained largely in the background this year. Notably, Elon Musk was absent from the speaker list. However, AI pioneer Yoshua Bengio is set to participate.
China, by contrast, seized the opportunity to showcase its global AI agenda. A high-level session on AI governance focused on ethical and responsible AI development, aligning with Beijing’s push to shape global norms.
According to Tom Nunlist of Trivium China, the country has used WAIC since 2018 as a platform to claim technical and political leadership in AI. As the U.S.-China AI rivalry reaches parity, he said, the urgency of this power struggle has never been greater.

Who Will Lead the AI Future?
Analysts estimate that China may now be only months behind the U.S. in AI development — a significant narrowing of the gap, especially compared to more pronounced divides in sectors like semiconductors.
Beijing’s ambitions are crystal clear: AI should become a $100 billion industry by 2030. President Xi recently called for breakthroughs in advanced chipmaking and fundamental AI research — echoing Trump’s sense of urgency and determination.

#ArtificialInteligence , #TRUMP , #AI , #worldnews , #Technology

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“