Good morning, a new day has begun. What interesting things have happened in the technology industry in the past 24 hours? Let's take a look with 21tech.
[Giant Wind Indicator]
1. Nvidia's market value evaporated by $240 billion. On Tuesday, Nvidia's stock price plummeted 9.53%, with its market value evaporating by over $240 billion, marking the largest market value decline in US stock history. After the market closed, it fell another 2.41%. And dragged down other stocks in the semiconductor industry. The performance report released by the company last week did not meet the market's most optimistic expectations. According to media reports, the US Department of Justice has issued subpoenas to companies such as Nvidia in search of evidence that the artificial intelligence chip giant has violated antitrust laws. Antitrust officials are concerned that Nvidia is making it harder for customers to switch to other suppliers and putting buyers who do not use all of its artificial intelligence chips at a disadvantage.
2. Intel's stock price has fallen nearly 60% this year, or it may be delisted from the Dow Jones Index. Analysts and investors say that due to Intel's poor performance in the stock market, the company is likely to be delisted from the Dow Jones Industrial Average (DJIA). Intel was one of the first two technology companies to join the Dow in the Internet era in 1999, and Microsoft was the other. But now, with the sharp decline in the company's stock price, Intel may lose its place in the index. This year, the stock price of Intel has fallen by nearly 60%, making it the worst performing company in the index and also the company with the lowest stock price.
3. China has the highest apple tax in the world. In January of this year, Apple made a series of historic reforms to its iOS, Safari, and App Store products in the European Union. Developers now only need to pay a 17% commission to Apple for app sales, and after one year, the commission rate has dropped to 10% for most developers and subscribers. In terms of rates, China is currently the country with the highest commission rate for in app transactions by Apple globally - the "Apple Tax" rates levied by Apple on standard enterprises and small and medium-sized developers in the Chinese market are 30% and 15%, respectively. According to third-party data statistics agency Sensor Tower, in 2023, the "Apple Tax" will generate approximately 22.34 billion US dollars (equivalent to 160.8 billion yuan) in global revenue, and in China alone, this figure will exceed 40 billion yuan.
4. The First Chamber of the Brazilian Supreme Court upheld the decision to ban the social platform "X". On September 2nd local time, the First Chamber of the Brazilian Supreme Court held a meeting and decided to uphold the previous ruling to ban the American social media platform "X", stating that any company or individual attempting to use technological means to continue using the services of the "X" platform will face a fine of 50000 Brazilian reals (approximately 63400 yuan). (CCTV News)
5. It is reported that the iPhone will use OLED panels, and Japan will therefore exit the screen supply chain. Apple will use OLED panels in all iPhone smartphones released after 2025 to replace LCD displays. In Japan, only Japanese display companies and Sharp are involved in the production of smartphone LCD displays, and they will also withdraw from the supply chain as a result.
6. The online store where Little Swan was embezzled 70 million yuan has announced a refund and compensation plan, promising not to close the store. On September 3rd, the "Little Swan Dongshan Specialty Store", which was robbed of 70 million yuan by the "wool party", released an announcement. The announcement stated that after negotiation, the Little Swan brand has decided to provide over one million yuan in special support for the store to compensate consumers affected by this incident. The compensation will be in the form of a 10 yuan cash red envelope and a 100 yuan unconditional coupon, hoping that this measure can alleviate consumer dissatisfaction and losses to a certain extent. For customers who have already placed an order and are affected, the store will immediately distribute a 10 yuan cash red envelope and a 100 yuan unconditional coupon. The store expresses sincere gratitude to every customer who has voluntarily refunded before for their understanding and tolerance, and promises: 'We will not close the store'.
7. Tesla China responds with false news regarding the production of a six seater version of the Model Y next year. According to market reports, Tesla plans to start producing a six seater version of the Model Y domestically by the end of 2025. Tesla China responded to Interface News with 'false information'.
8. Institution: It is expected that H200 will become Nvidia's main supplier after the third quarter. According to the latest research by TrendForce Consulting, due to the increasing demand for NVIDIA's core product Hopper GPU, NVIDIA's data center business has driven the company's overall revenue to more than double in the second quarter of fiscal year 2025, reaching $30 billion. The supply chain survey results show that CSP and OEM customers will increase their demand for H200 in the near future, and it is expected that this GPU will become Nvidia's main supplier after the third quarter of 2024.
9. Volkswagen is considering closing its German factories to cut costs. Volkswagen is considering closing its German factories to further cut costs, stating plans to shut down at least one larger car manufacturing plant and one parts factory in Germany. If the factory is closed, it will mark the first time in Volkswagen's 87 year history that it has closed a factory in Germany, and the company may face conflicts with powerful unions.
10. Xiaopeng Huitian has announced its mass production schedule, with a price not exceeding 2 million yuan. Zhao Deli, founder and president of Xiaopeng Huitian, announced on September 3rd that the Xiaopeng Huitian "land carrier" aircraft is scheduled to complete its public manned maiden flight during the Zhuhai Air Show in November this year, make its first public appearance during the Guangzhou Auto Show in November, start pre-sales at the end of 2024, and achieve mass production and delivery by 2026. (Caixin News Agency)
11. Ningde Times established a new energy company in Yibin. Recently, Yibin Runshi New Energy Co., Ltd. was established, with Pan Baolong as the legal representative and a registered capital of 18 million RMB. Its business scope includes electrical installation services, construction engineering, engineering and technology research and experimental development, research and development of emerging energy technologies, sales of new energy vehicle battery swapping facilities, and research and development of online energy metering technology. The company is wholly owned by Times Green Energy Co., Ltd., which is a wholly-owned subsidiary of CATL.
12. NASA responds to the "Interstellar Aircraft" pulse sound: audio configuration noise, does not affect the return plan. Astronauts aboard Boeing's Starliner spacecraft to the International Space Station recently heard strange pulse sounds coming from the spacecraft. NASA announced on September 2nd local time that the pulse sound heard by astronauts from the spacecraft was caused by the audio configuration between the spacecraft and the space station, and it has now been stopped. The audio system of the International Space Station is very complex, allowing multiple spacecraft and modules to be interconnected, resulting in frequent feedback noise. The feedback noise from the speakers heard this time has no technical impact on the operation of astronauts, the "StarCraft" or the space station, and the plan for the "StarCraft" to return to Earth in the near future is also not affected. (CCTV News)
Technology Financial Report Perspective
Zhiwen Group had a net revenue of 2.6914 billion yuan and a net profit of 449.2 million yuan in Q2 2024. According to the financial report, in the second quarter of 2024, Zhiwen Group's net revenue reached 2.6914 billion yuan, which is not measured according to US Generally Accepted Accounting Principles. The net profit attributable to Zhiwen Group in the second quarter of 2024 was 449.2 million yuan. On Tuesday local time, Zhiwen Group closed down 3.77%.
Listed capital flow
1. SoftBank backed OfBusiness plans a $1 billion IPO in India. A senior executive stated that OfBusiness, an Indian B2B e-commerce platform supported by SoftBank, is planning to issue stocks worth up to $1 billion on the Indian stock market. Bhavesh Keswani, Chief Financial Officer of OfBusiness, stated that the company is actively in talks with Bank of America, Citibank, JPMorgan Chase, and Morgan Stanley to manage the issuance and plans to list on the Indian stock market in the second half of 2025.
2. Bain Capital plans to acquire Fuji Software for $4.1 billion, which is about 5% higher than KKR's offer. US private equity fund Bain&Company has made a counteroffer of 600 billion yen (approximately 4.1 billion US dollars) to Japanese system developer Fuji Software, surpassing KKR's acquisition offer, which is also a US private equity firm. KKR announced in August its intention to tender out all outstanding shares of Fuji Software at a price of 8800 yen per share, bringing the total transaction amount to approximately 560 billion yen (approximately 3.8 billion US dollars). The acquisition price proposed by Bain Capital is approximately 9200 to 9300 yen per share, which is about 5% higher than KKR's acquisition price. Bain plans to proceed with the acquisition with the consent of the management of Fuji Software.
3. Blackstone continues to acquire warehousing assets and will acquire a controlling stake in Burstone's European warehouse investment portfolio. On September 2nd local time, Burstone, listed in Johannesburg, South Africa, announced on the exchange that it has agreed to sell a controlling stake in its investment portfolio worth 1.1 billion euros to private equity investment giant Blackstone Group, which owns properties in seven countries including Germany, France, and the Netherlands. Blackstone will acquire an 80% stake in the European warehouse investment portfolio operated by Burstone, with Burstone retaining a 20% stake in the portfolio and its European team continuing to manage it.
New Trendy Products
1. The new Huawei triple fold phone will be named Huawei Mate XT Extraordinary Master, and multiple MATEXT trademarks have been registered. On the morning of September 3rd, Huawei announced a new product on Weibo, and the upcoming three fold new phone to be released on September 10th will be named Huawei Mate XT Extraordinary Master. It is reported that Huawei Technologies Co., Ltd. has previously applied for the registration of multiple "MATEXT" trademarks, with international classifications involving scientific instruments and website services. Currently, some trademarks have been successfully registered. In addition, the company has also applied for registration of multiple "Extraordinary Master" and "ULTRAMATE DESIGN" trademarks, and the current trademark status is mostly awaiting substantive examination.
2. Intel has launched a new generation of AIPC chips, officially claiming to surpass Qualcomm's flagship in all aspects. Intel has launched a batch of lightweight laptop chips aimed at competing with Qualcomm and AMD in the AIPC market. In addition to a series of parameters and benchmark projects, the biggest highlight is its support for traditional x86 architecture. Intel released a total of 9 Ultra 200V series chips on Wednesday morning. Intel announced that the first batch of laptops equipped with the UItra 200V chip will be launched on September 24th. During the entire press conference, Intel repeatedly emphasized that its own chips performed better than its competitors, especially Qualcomm.