Tech CEO Greg Lui is arrested for an alleged scheme involving the smuggling of over $300M in AI chips.
CEO Arrested for Smuggling AI Chips to China Federal agents have taken into custody a technology CEO from California, who is accused of illegally exporting over $300 million worth of restricted artificial intelligence (AI) chips to China. Greg Lui, also known as Yiu Kong Lui, 38 years old and residing in San Gabriel, is facing […]
Tech CEO from California taken into custody for allegedly bringing $300 million worth of restricted AI chips into China.
California Tech CEO Arrested for Alleged Smuggling of AI Chips On Wednesday, federal agents detained a tech CEO from California, accused of illegally exporting over $300 million worth of restricted AI chips to China. Greg Lui, 38, also known as “Yiu Kong Lui,” hails from San Gabriel and faces multiple federal charges for allegedly selling […]
Shortages of AI memory chips may lead to rising prices for consumer electronics.
AI Data Center Boom Impacting Consumer Electronics A recent policy report raises concerns that the surge in AI data centers could increase the prices of laptops, smartphones, and cars as chip manufacturers shift their focus toward more lucrative AI applications. This shift, according to the report published by the Abundance Institute, limits the availability of […]
Cisco Falls 9% and Stalls the Dow as the Nasdaq Rises. Shared Factor: Memory Chips.
It was quite a morning for Cisco Systems, recording impressive sales and profits, along with a significant $4 billion in AI orders. Yet, despite these achievements, the company’s stock price dropped by 9%. This mixed performance led to an uneven session on Wall Street. The Nasdaq Composite saw a 0.53% increase around noon, while the […]
Apple is trying out CXMT memory chips for iPhones and MacBooks during a shortage.
Cheryl Casson and Rob Summell discuss the news that Apple might be testing memory chips from CXMT, a Chinese manufacturer, for its iPhones and MacBooks. This comes as the Chinese government is investing significantly to compete with the United States in the realm of artificial intelligence. Recent reports suggest that Apple is experimenting with memory […]
US simplifies UAE’s access to AI chips after offering support in the Iran conflict
UAE Gains Access to U.S. AI Chips Amid Iran Tensions The United Arab Emirates has significantly enhanced its access to valuable U.S. artificial intelligence chips by establishing itself as a crucial military ally during the ongoing conflict with Iran. This situation highlights how AI technology has become a leverage point in international relations. In the […]
ASML exceeds Q2 expectations due to demand for AI chips
ASML Raises Financial Forecast Amid AI Demand On July 15, ASML, the largest manufacturer of computer chip production equipment globally, announced an increase in its financial outlook for 2026. The boost comes as a result of higher than expected profits driven by demand for artificial intelligence (AI). The company plans to expand its production capacity […]
Critics condemn Trump’s ‘corrupt’ agreement with the UAE for AI chips
Critics are raising concerns about a deal made during the Trump administration that permits the United Arab Emirates (UAE) to access advanced U.S. technology. They argue that the White House is showing favoritism toward the UAE because the royal family invested a significant sum in Trump’s cryptocurrency venture last year. The U.S. Department of Commerce […]
Futures for stocks fall after a surge led by chips; SoftBank jumps 11% as technology stocks in Asia increase: Live updates
Market Update: U.S. and Asian Stock Movements On June 26, 2026, traders are present at the New York Stock Exchange. U.S. stock futures showed a slight decline early Friday morning. This comes after a robust week for Wall Street, which saw the S&P 500 and Nasdaq Composite moving upward. Interestingly, Asian tech stocks are on […]
Meta plans to develop its own chips as AI leaders seek to break free from a challenged supply chain.
Meta to Develop Its Own AI Chips Starting September Mark Zuckerberg’s Meta Inc. plans to start designing its own artificial intelligence chips in September, joining a trend among major AI companies to manufacture their own components amid rising demand. Codenamed “Iris,” this initiative focuses on creating custom silicon for the AI systems that support platforms […]