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Tencent Holdings

TENCENT HOLDINGS ADR

Tencent holds a prominent position in China's internet sector, with a diverse portfolio of products and services used daily by a significant portion of the population. The company is the world's largest video game publisher and owns Honor of Kings, a top-grossing mobile game globally. Tencent also operates WeChat, China's largest social media super app. WeChat is deeply integrated into the daily lives of Chinese people for communication, entertainment, shopping, and more. Beyond its offerings, Tencent is a significant player in global venture capital and investment. The company holds substantial stakes in leading companies including PDD, Kuaishou, and Epic Games.

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Tencent Holdings Ltd

After sitting cozy for years in a U.S.-centric equity bubble, investors are finally being served a wake-up call. With U.S. valuations at elevated levels and global equities outperforming the U.S. in 2025, the long-standing &#8220;home bias&#8221; in American portfolios is starting to appear more like a risk factor than a security blanket. 
In this scenario, T. Rowe Price debuted two new <a href="https://www.benzinga.com/etfs">actively managed ETFs</a>: the T. Rowe Price Global Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGLB#NYSE">TGLB</a>) and the T. Rowe Price Equity Research ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIER#NYSE">TIER</a>). Transparent and competitively priced, the funds are designed for investors who may be willing to step, or leap, beyond the borders of the S&amp;P 500.
Tim Coyne, T. Rowe Price&#8217;s global head of ETFs, stated that TIER and TGLB provide enhanced access to global investing opportunities within the ETF wrapper, offering investors the ability to diversify their portfolios while benefiting from the advantages of active management.
Also Read: <a href="https://www.benzinga.com/etfs/new-etfs/25/06/46127406/direxions-new-etfs-let-traders-supercharge-bets-on-cisco-and-qualcomm-with-a-catch">Direxion&#8217;s New ETFs Let Traders Supercharge Bets On Cisco And Qualcomm, With A Catch</a>
<h2 class="wp-block-heading">TGLB: A Concentrated Global Play</h2>
The TGLB fund has a concentrated strategy, featuring a high-conviction blend of 45–60 developed and U.S. stocks. At its launch, the fund still relies quite heavily on familiar American megacaps, such as Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) (5%), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) (4.5%), and Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) (4.3%), but it will adapt to changing global opportunities.
Helmed by veteran manager Peter Bates, who leads T. Rowe's Global Select Equity Strategy, the fund aims to surpass benchmarks, focusing on high-quality growth stories regardless of their trading location.
Expense ratio: 0.46%
<h2 class="wp-block-heading">TIER: No America, More Diversity</h2>
If TGLB gently nudges investors abroad, TIER goes all in, cutting U.S. equities entirely and instead spreading capital across more than 350 stocks from both developed and emerging markets.
Initial top holdings were iShares MSCI India ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/INDA#BATS">INDA</a>), Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and Tencent Holdings (OTCPK: TCEHY), a message that the fund is not merely shunning the U.S., but actively seeking exposure to the world&#8217;s new growth drivers.
The fund is co-managed by six portfolio managers, each with regional expertise and access to the firm&#8217;s team of about 40 global research analysts. TIER is structured to track the MSCI ACWI ex USA Index geographically and by sector, with the flexibility of active choice-making.
Expense ratio: 0.38%
<h2 class="wp-block-heading">A Calculated Push Toward Global Thinking</h2>
With these two funds, T. Rowe Price isn&#8217;t racing after fads; it&#8217;s filling a more strategic void in numerous portfolios. The company is essentially wagering that investors will eventually grow tired of being overweight in a few of the more overvalued U.S. tech names and begin to hunger for more diversification with an institutional-level perspective.
And though INDA or TSMC don&#8217;t exactly read like revolutionary portfolio selections, the actual change is psychological: providing retail investors with the tools to venture beyond their comfort zone.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45978750/why-smart-money-is-spreading-out-etf-flows-signal-surge-in-portfolio-diversification">Why Smart Money Is Spreading Out: ETF Flows Signal Surge In Portfolio Diversification</a></li>
</ul>
Photo: Shutterstock

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MSFT

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T. Rowe Price Launches Global ETFs To Nudge Investors Out Of Their Comfort Zone

Citigourp Global Markets 2% Protected Notes Linked To The Djia

From NYSE To Hong Kong: Over 80 Chinese Firms Pull Plug On US Listings Amid Growing Tensions

Fans of the hit Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) series "Squid Game" could have more reasons to celebrate this week, as a<a href="https://www.benzinga.com/general/entertainment/25/04/44877995/netflix-crushes-q1-says-its-working-hard-to-improve-and-expand-its-offering" target="_blank" rel="noopener"> third and final season</a> will be launched on the streaming platform, along with several games based on the hit series.
Netflix Bets on Mobile Game: Over the years, Netflix has been more aggressive in launching mobile games, especially ones <a href="https://www.benzinga.com/general/entertainment/24/06/39213738/netflix-reality-show-games-and-chill-streaming-giant-sees-success-from-interactive-games-ba">based on series </a>and movies on the company's streaming platform.
"Squid Game: Unleashed," which launched last year for the second season of the hit Netflix show, is getting updates for the third season and will also have more ways to play.
The <a href="https://www.squidgameunleashed.com/">game </a>will be playable on Google's Chromebook and large-screen Android devices, marking a first for a Netflix game, as reported by <a href="https://variety.com/2025/gaming/news/squid-game-unleashed-chromecast-gaming-news-roundup-1236438283/">Variety</a>.
"Squid Game: Unleashed" is a 32-player party royale mobile game featuring characters, challenges, and more from the hit series.
"You'll be able to experience immersive gameplay on a bigger screen, with keyboard and mouse support, updated control layouts and graphics that take full advantage of your device's display," a Google description reads.
According to the report, the game will receive updates tied to the third season of the game after its release, along with being available on more devices.
"Squid Game" season three will be released on Netflix on June 27. It will follow the second season, which premiered in December 2024 and <a href="https://www.benzinga.com/24/12/42751367/netflix-posts-record-debut-with-squid-game-season-2-heres-how-many-people-watched-show">broke Netflix records </a>with 68 million views in its first week of release.
Read Also: <a href="https://www.benzinga.com/general/entertainment/25/03/44428025/netflix-to-launch-first-mmo-video-game-is-it-the-streaming-companys-biggest-gaming-bet-yet">Netflix To Launch First MMO Video Game: Is It The Streaming Company&#8217;s Biggest Gaming Bet Yet?</a>
Fortnite Piggybacks on Squid Game Mania: Hit battle royale game &#8220;Fortnite&#8221; from Epic Games, which is partially owned by Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), the Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), is also diving into "Squid Game" mania this week.
"Fortnite" is <a href="https://www.fortnite.com/news/fight-for-survival-in-reloads-squid-grounds-map?lang=en-US">releasing </a>a version of the game that, in its Reload mode, will feature key locations from the series, like the labyrinth and playground, and interactive games like "Red Light, Green Light."
The hit battle royale game will also feature bundles of in-game purchasable items, including guards&#8217; and characters&#8217; skins from the series.
"Fortnite's" partnership with "Squid Game" will be for a limited time and also include several tournament challenges where contestants can earn in-game items.
Read Next: 
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<li><a href="https://www.benzinga.com/news/entertainment/25/06/45978982/streaming-dethrones-tv-giants-netflix-youtube-lead-the-takeover">Streaming Dethrones TV Giants: Netflix, YouTube Lead The Takeover</a></li>
</ul>
Photo: Shutterstock

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Netflix Is Turning 'Squid Game' Into Something Bigger As Fortnite Tries To Keep Up

AllianceBernstein is making a deeper foray into the <a href="https://www.benzinga.com/etfs">ETF </a>business with the introduction of its newest product, the AB Emerging Markets Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMOP#NYSE">EMOP</a>), which seeks to exploit the long-term growth potential of emerging economies.
The launch of EMOP brings AllianceBernstein&#8217;s ETF lineup to 18.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46017496/israel-iran-conflict-lifts-crude-above-77-what-it-means-for-oil-etfs">Israel-Iran Conflict Lifts Crude Above $77: What It Means For Oil ETFs</a>
By mashing up bottom-up fundamentals and top-down consciousness, the portfolio managers of the fund handpick stocks possessing decent fundamentals and good valuations. The likes of Samsung, Alibaba Group Holding Ltd.- ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Tencent Holdings ADR (OTCPK: TCEHY), and Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) are part of the heavyweight names, and represent a tilt towards tech-inspired growth stories.
The fund is unconstrained by market cap or sector, leaving it free to shift as opportunities (or threats) change, whether that entails doubling up on high-conviction wagers or navigating defensively in troubled areas.
At a 0.70% expense ratio, EMOP aims to become an investment vehicle for diversified equity exposure outside the U.S. The launch also marks AllianceBernstein&#8217;s wider strategic move into actively managed ETFs, a space that has gained favor amid an ever-more uncertain macro backdrop.
Noel Archard, global head of ETFs &amp; Portfolio Solutions at AllianceBernstein, said EMOP is intended to give investors valuable access to these vibrant economies.
With global investors contemplating softening developed markets and geopolitical risk, active emerging market strategies such as EMOP can offer a tactical advantage, melding growth exposure to the flexibility to act when markets move.
Read Next: 
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</ul>
Photo: Shutterstock

Trading Ideas

EMOP

AllianceBernstein's EMOP ETF Targets Growth In Emerging Markets

Ryde Group Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#AMEX">RYDE</a>), a Singapore-based company that operates as a ride-hailing and carpooling platform, is enhancing its platform in Southeast Asia by <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/ac46020914/tencent-cloud-empowers-ryde-to-elevate-in-app-communication-in-southeast-asia" rel="noreferrer noopener">teaming up with</a> Tencent Cloud, the cloud division of China&#8217;s tech powerhouse Tencent Holding Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>).
This collaboration aims to overhaul in-app communications with real-time, cloud-native solutions tailored for mobile-first users.
The partnership leverages Tencent&#8217;s Real-Time Communication, or TRTCTRTC technology and WeChat Mini Program integration to eliminate the inefficiencies of traditional telecom-based systems that rely on third-party number masking.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45979328/weride-partners-with-uber-dubais-road-and-transport-authority-for-autonomous-vehicle-pilot" rel="noreferrer noopener">WeRide Partners With Uber, Dubai&#8217;s Road And Transport Authority For Autonomous Vehicle Pilot</a>
Ryde&#8217;s platform will now utilize Tencent Cloud&#8217;s TRTC solution to support voice communication between riders and drivers directly within the app.
The company said in a press release that this move is set to reduce cost, improve scalability, and protect user data privacy. With its ultra-low latency performance and carrier-grade stability, TRTC is already behind platforms like PUBG, QQ, and Weixin.
The expanded features also include advanced analytics, AI-driven fleet intelligence, and dynamic dispatch systems, all backed by Tencent Cloud&#8217;s infrastructure.
Ryde plans to capitalize on these tools to grow beyond ride-hailing into deliveries, digital payments, and sustainability-focused mobility services.
Kenneth Siow, Regional Director at Tencent Cloud, said the tie-up reflects the company&#8217;s intent to build a resilient cloud backbone for next-gen digital services.
Nitin Dolli, CTO of Ryde Group, called the partnership a &#8220;transformative step&#8221; toward becoming a super-app for Southeast Asia.
Beyond the technical integration, the companies are exploring joint ventures in AI analytics and WeChat Mini Program use cases that could support optimized logistics and sustainability insights.
This strategic collaboration comes as Ryde scales up operations across the region, aiming to align with evolving user expectations and tech-driven growth.
On Wednesday, Ryde Group announced a strategic equity stake in an<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/45997572/ryde-group-shares-gain-after-company-deepens-green-strategy-with-stake-in-ev-rental-firm-atoll" rel="noreferrer noopener"> emerging electric vehicle rental startup.</a>
Ryde confirmed it has acquired 40% ownership in&nbsp;Atoll Discovery Pte Ltd, a local EV rental operator with a growing fleet of fully electric vehicles, signaling a significant expansion in Ryde&#8217;s green transportation ambitions.
The move aligns with Ryde&#8217;s broader vision to support Singapore&#8217;s transition toward sustainable transportation.
Price Action: RYDE shares are trading lower by 4.83% to $0.4263 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/46019223/elon-musks-x-faces-scrutiny-by-european-watchdogs-after-33-billion-acquisition-by-xai-platform-could-face-fine-ban-in-the-eu" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X Faces Scrutiny By European Watchdogs After $33 Billion Acquisition By xAI — Platform Could Face Fine, Ban In The EU</a></li>
</ul>
Photo by PeopleImages.com Yuri A via Shutterstock

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RYDE

Ryde Partners With Tencent Cloud For Enhanced In-App Interactions

Pony AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/n45808958/pony-ai-accelerates-gen-7-robotaxi-deployment-with-road-testing-launch-in-chinas-guangdong" rel="noreferrer noopener">announced on Friday</a> that it is ramping up its Robotaxi mass production and commercialization efforts by launching public road testing for its seventh-generation Robotaxis in&nbsp;China.
The vehicles tested on roads in the southern Chinese megacities of&nbsp;Guangzhou&nbsp;and&nbsp;Shenzhen&nbsp;are based on Guangzhou Auto(GAC)&#8217;s second-generation Aion V model and are equipped with&nbsp;Pony.ai&#8217;s advanced autonomous driving system.&nbsp;
The autonomous driving technology company&nbsp;recently obtained a regulatory permit to conduct these road tests for its seventh-generation Robotaxi, which was jointly developed with GAC.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/45718402/pony-ai-xihu-group-to-deploy-over-1000-robotaxis-in-shenzhen" rel="noreferrer noopener">Pony.ai, Xihu Group To Deploy Over 1,000 Robotaxis In Shenzhen</a>
&nbsp;At the Shanghai Auto Show, Pony.ai&nbsp;debuted its Gen-7 autonomous driving system in April.
To support widespread adoption,&nbsp;Pony.ai&nbsp;has established deep commercial partnerships with global leaders in technology, mobility services, and deployment platforms, including&nbsp;Tencent Holding (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) Tencent&nbsp;Cloud, Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) Alipay and Amap.
Pony AI&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/25/05/45514486/chinas-pony-ai-robotaxi-revenue-jumps-200-eyes-1000-vehicle-fleet" rel="noreferrer noopener">first-quarter sales</a>&nbsp;grew 11.6% to $13.98 million (101.6 million Chinese yuan), mainly driven by rapid growth in Robotaxi services revenues. The analyst consensus estimate for sales was 90.11 million Chinese yuan. Robotaxi services&nbsp;revenue climbed 200.3% to $1.7 million in the quarter, primarily attributable to expanding its public-facing fare-charging operations in Tier-one cities in China and refined operational strategies for diverse user groups.
Also this week, Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45740083/elon-musks-tesla-files-new-autonomous-taxi-trademark-application-ahead-of-robotaxi-launch-in-june" rel="noreferrer noopener">filed a fresh</a> trademark application for the wordmark &#8220;Tesla Robotaxi&#8221; with the U.S. Patent and Trademark Office (USPTO) after the&nbsp;agency previously rejected&nbsp;its application.
The EV giant is gearing up to launch its Robotaxi services in Austin on June 12. Tesla CEO Elon Musk previously stated that the launch would initially involve over 10-20 Model Ys.
Price Action: PONY shares are trading higher by 1.9% to $13.74 at last check Friday.
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Photo: Shutterstock

PONY

TSLA

Pony.ai Begins Testing Futuristic Robotaxis In China, Mass Rollout Could Be Next

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alibaba Group Holding Ltd &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) are facing regulatory delays in launching their artificial intelligence partnership in China, as Beijing withholds approval amid complex U.S.-China trade dynamics. What Happened: The tech giants submitted multiple AI products co-developed for Apple Intelligence services to China&#8217;s Cyberspace Administration this year, but applications remain stalled due to increasing geopolitical uncertainties, <a href="https://www.ft.com/content/0c76f3c2-7213-42a5-8f30-b101b7616db0">reported</a> the Financial Times, citing sources.
Apple&#8217;s AI rollout delay comes as the company battles declining market share in China&#8217;s premium smartphone segment. International Data Corporation data shows Apple&#8217;s <a href="https://www.benzinga.com/25/05/45427189/tencent-says-it-has-enough-high-end-ai-chips-to-train-models-for-generations-after-trump-administration-bans-huawei-tech-anywhere-in-the-world">high-end market share dropped</a> from 70% in early 2023 to 47% in the first quarter of 2025, while Huawei Technologies climbed from 13% to 35%.
The partnership represents<a href="https://www.benzinga.com/25/02/43631776/apple-teams-up-with-alibaba-for-ai-innovation-in-china-submits-ai-features-for-regulatory-approval"> Apple&#8217;s second attempt at AI integration</a> in China after its collaboration with Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) failed to meet expectations. 
China requires international companies to <a href="https://www.benzinga.com/25/02/43631776/apple-teams-up-with-alibaba-for-ai-innovation-in-china-submits-ai-features-for-regulatory-approval">partner with domestic firms for AI services</a>, prompting Apple to team with Alibaba after exploring options including Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and ByteDance.
Apple and Alibaba did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45786854/magnificent-7-drive-54-of-market-cap-gains-in-sp-500-since-april-lows-the-market-cannot-survive-without-big-tech">Magnificent 7 Drive 54% Of Market Cap Gains In S&amp;P 500 Since April Lows: &#8216;The Market Cannot Survive Without Big Tech&#8217;</a>
Why It Matters: President Donald Trump&#8216;s trade policies have particularly impacted Apple, with threats of 25% tariffs on devices unless manufacturing returns to the U.S. Despite this pressure, Apple continues<a href="https://www.benzinga.com/news/global/25/05/45582261/despite-trumps-warning-to-tim-cook-apple-moves-ahead-with-1-5-billion-india-expansion-via-foxconn-to-boost-iphone-production-report"> expanding its India operations </a>through Foxconn with a $1.5 billion investment.
The CAC typically approves AI models through official testing and has cleared over 300 domestic models. However, US-related partnerships now face extended review periods requiring State Council approval, according to the report, which is engaged in ongoing trade negotiations.
Read Also:
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<li><a href="https://www.benzinga.com/news/topics/25/06/45786818/steve-ballmer-says-he-didnt-speak-to-bill-gates-for-a-year-after-becoming-microsoft-chief-reveals-power-struggle-and-rift-over-real-ceo-role">Steve Ballmer Says He &#8216;Didn&#8217;t Speak&#8217; To Bill Gates For A Year After Becoming Microsoft Chief: Reveals Power Struggle And Rift Over &#8216;Real CEO&#8217; Role</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

AAPL

BIDU

Apple And Alibaba's AI Launch In China Delayed By US-China Trade Tensions And Regulatory Hurdles: Report

UBS Group expressed optimism <a href="https://www.benzinga.com/topic/chinese-stocks" target="_blank" rel="noreferrer noopener">about Chinese stocks</a>, citing the recent tariff pause with the U.S., potential stimulus measures from Beijing and attractive low valuations as key drivers.
UBS&#8217; stance coincided with a market sell-off in U.S. equities amid trade tensions, SCMP <a href="https://www.scmp.com/business/banking-finance/article/3312525/ubs-upbeat-china-stocks-citing-tariff-pause-us-and-potential-beijing-stimulus" target="_blank" rel="noreferrer noopener">reported</a> on Monday.
Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) is considered a tech barometer of China. Other significant U.S.-listed Chinese stocks included Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), JD.Com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), and PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>).
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45703311/us-listed-chinese-stocks-drop-after-trump-renews-trade-tensions" target="_blank" rel="noreferrer noopener">US Listed Chinese Stocks Drop After Trump Renews Trade Tensions</a>
Neil Hosie of UBS said Beijing&#8217;s economic policy measures in September and the emergence of artificial intelligence start-up DeepSeek&#8217;s affordable models sparked global investor interest in China equities, slowly translating into more significant fund flows.
Hosie said a 90-day tariff truce and Beijing&#8217;s hopes for domestic stimulus have translated into higher inflows into China&#8217;s markets.
Additionally, Hosie said Hong Kong&#8217;s resurgent initial public offering (IPO) market was a positive driver.
Meanwhile, Hosie said U.S. stocks were overvalued, citing the Nasdaq&#8217;s P/E of 31.70x, compared to Hong Kong&#8217;s benchmark Hang Seng Index at 10.86x and Shanghai&#8217;s main board at 15.60x, as per Bloomberg data.
Mainland Chinese households held 160 trillion yuan ($22 trillion) in cash, mostly invested in bank time deposits and about a third of it could flow into stock markets in Hong Kong as lower interest rates drive demand for riskier assets, SCMP <a href="https://www.scmp.com/business/china-business/article/3312751/chinese-households-set-buy-another-us100-billion-hong-kong-stocks-hsbc-says" target="_blank" rel="noreferrer noopener">reported</a> on Monday, citing HSBC.
Herald van der Linde, head of HSBC Asia-Pacific equity research, told SCMP that close to 50 trillion yuan, deemed excess savings over the COVID-19 pandemic years, will find their way back into local and offshore equity markets.
HSBC said Chinese investors channeled $80 billion in net inflows into Hong Kong stocks through Stock Connect&#8217;s southbound channel in 2025. At the current rate, they could funnel more excess savings to drive purchases to $180 billion by the end of the year.
HSBC said most of the cash flowing into Hong Kong&#8217;s stock market had gone into high-growth sectors such as internet firms, electric vehicle (EV) makers, and other high-yielding companies like Tencent Holdings and Alibaba.
BABA Price Actions: BABA stock is up 0.76% at $114.70 at publication on Monday.
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Photo: Shutterstock

Large Cap

Analyst Ratings

China Stocks Get Boost As UBS, HSBC Cite Stimulus Hopes, Tariff Truce, Low Valuations

China&#8217;s leading technology companies, including Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Tencent Holding (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) have begun switching to <a href="https://www.benzinga.com/topic/chip-stocks" target="_blank" rel="noreferrer noopener">homegrown chips to</a> develop artificial intelligence as the dwindling stockpile of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) processors and U.S. export controls erode their ambitions.
Growing geopolitical tensions with China led Donald Trump&#8217;s administration to clamp down on sales of Nvidia&#8217;s H20 in April, prompting the companies to step up contingency planning, the Financial Times <a target="_blank" href="https://www.ft.com/content/bb1315e8-27df-4a93-a4dc-11e2883fdde3" rel="noreferrer noopener">reported</a> on Thursday, citing unnamed sources familiar with the matter.
Uncertainties mount over Nvidia&#8217;s ability to offer a new processor for China that is compliant with Trump&#8217;s export rules and competitive against domestic rivals.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/25/05/45673288/when-nvidia-wins-broadcom-climbs-ai-boom-sends-chip-stocks-soaring" rel="noreferrer noopener">When Nvidia Wins, Broadcom Climbs: AI Boom Sends Chip Stocks Soaring</a>
New chip orders typically take three to six months to ship.
Shen Dou, head of Baidu&#8217;s AI cloud group, expressed optimism during an analyst call, saying that domestically developed self-sufficient chips and homegrown software stacks will gradually replace Nvidia.
Alibaba chief Eddie Wu, in an earnings call, talked about actively exploring diversified solutions to meet demand.
China Institutes of Contemporary International Relations&#8217; social media post quoted domestic entities in China as having already begun large-scale procurement and use of Ascend chips.
Most companies are considering a hybrid approach, with AI training continuing to run on existing Nvidia chips while adopting local processors for inference.
Analysts at GF Securities told the Financial Times that they expect Nvidia to start producing its next chips for China by early July.
Nvidia said it had incurred a <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong" target="_blank" rel="noreferrer noopener">$4.5 billion charge</a> in the first quarter related to H20 excess inventory and purchase obligations. H20 product sales were $4.6 billion for the first quarter before the new export licensing requirements.
<a href="https://www.benzinga.com/25/04/44963176/chinese-tech-firms-led-by-alibaba-hoard-nvidia-ai-chips-amid-us-sanctions" target="_blank" rel="noreferrer noopener">Chinese companies, including</a> ByteDance, Alibaba and Tencent, hoarded Nvidia&#8217;s H20 AI chips amid US sanctions. They aimed to snap up one million H20s before the latest US semiconductor sanctions. The companies reportedly placed over $16 billion in orders for the quarter. 
Reportedly, Nvidia bagged $18 billion of H20 orders since 2025.
China generated $17 billion in revenue in fiscal 2024, accounting for 13% of Nvidia&#8217;s total sales.
Price Actions: At the last check on Friday, NVDA stock was down 0.06% at $139.10. BABA is down 0.84%.
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Photo: Shutterstock

Government

Regulations

Media

Alibaba And Baidu Turn To Chinese AI Chips As US Sanctions Squeeze Nvidia Supply

Chinese AI startup DeepSeek, which triggered a <a href="https://www.benzinga.com/markets/equities/25/01/43256425/nvidia-says-deepseek-an-illustration-of-how-new-ai-models-can-be-created-while-being-export-control-compliant-amid-600-billion-market-value-plunge">$600 billion drop</a> in Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) market value with the release of its R1 model in January, has quietly launched an updated version of its reasoning model.
What Happened: The model, dubbed R1-0528, was uploaded in the early hours of Thursday to the developer platform Hugging Face without a formal public announcement, reported Reuters.
Despite the low-key release, the model quickly gained attention.
On the LiveCodeBench leaderboard—a benchmark created by researchers from UC Berkeley, MIT and Cornell—R1-0528 ranked just behind OpenAI's o4 mini and o3 models in code generation.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…&#8217;</a>
It <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44625580/alibaba-steps-up-ai-game-with-qwen-3-challenging-deepseeks-low-cost-ai-success">also outperformed</a> xAI's Grok 3 mini and Alibaba Group Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) Qwen 3, underscoring DeepSeek's rising status.
DeepSeek's more advanced model, R2, is still expected later this year, the report added.
Why It's Important: Following R1's release in January, major Chinese firms like Alibaba and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) have <a href="https://www.benzinga.com/25/03/44101621/deepseek-loses-top-spot-as-tencents-yuanbao-ai-becomes-no-1-iphone-app-amid-intensifying-ai-battle">launched models that they</a> say outperform DeepSeek's.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google also rolled out lower-cost Gemini access tiers, while OpenAI reduced pricing and introduced its o3 Mini model, designed to operate with reduced computational demands.
Previously, Demis Hassabis, CEO of Google DeepMind, acknowledged DeepSeek's AI model as arguably the most <a href="https://benzinga.com/markets/25/02/43586484/google-deepmind-ceo-calls-deepseek-ai-best-work-from-china-but-says-hype-is-overblown-theres-no-actual-new-scientific-advance">impressive to emerge from China</a>, while Alphabet CEO Sundar Pichai <a href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-latency">downplayed the threat</a> posed by the startup.
After witnessing China's DeepSeek top the App Store with an AI product built by just 200 engineers, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella reportedly <a href="https://www.benzinga.com/25/03/44529954/microsoft-ceo-satya-nadella-admits-chinas-deepseek-was-a-wake-up-call-tells-employees-its-time-to-build-real-products-not-just-research-thats-the-new-bar-to-me">pushed his teams to deliver results</a> with similar speed and real-world impact.
Benzinga Edge Stock Rankings awarded NVDA an impressive growth score of 98.75%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to compare it with other top-performing stocks such</a> as Alphabet, Alibaba, Tencent, Microsoft and more.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29023210/Screenshot-2025-05-29-at-7.06.23%E2%80%AFAM-2.png" alt="" class="wp-image-930896" /></a></figure>
Photo Courtesy: mundissima on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

China's DeepSeek Quietly Drops R1 AI Update That Nearly Matches OpenAI o4 Mini—And Beats Elon Musk's Grok 3 Mini

After years of being the poster child for China&#8217;s regulatory reckoning, Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) is now sending a different sort of signal to shareholders: It&#8217;s back, it&#8217;s profitable and it&#8217;s on the AI wave on a large scale. And for <a href="https://www.benzinga.com/etfs">ETF investors</a>, its return may be more than a BABA-centric tale, which might be a sign of a wider reawakening for China-centric tech ETFs.
The Numbers Don&#8217;t Lie, They Shout
Alibaba&#8217;s most <a href="https://www.benzinga.com/news/earnings/25/05/45437447/alibaba-stock-slides-5-after-revenue-miss-cloud-spend-hits-free-cash-flow">recent quarterly earnings</a> showed that the company&#8217;s revenue increased 7% year-over-year in the March quarter, which was a miss. However, operating income skyrocketed 93%, and adjusted EBITA jumped 36%. The jaw-dropping number? Net income expanded to $1.65 billion, an eye-opening 1,203% jump from the prior-year period. Even stripping out one-time gains, non-GAAP net income was up 22%. The company has also stepped up expenses, cut share-based compensation in half, and streamlined its sprawling platforms—all while accelerating cash flow by 18%. For a company once seen as a regulatory landmine, Alibaba is now flexing financial discipline and strategic clarity.
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45620670/alibaba-eyes-growth-in-other-markets-as-us-ties-strained-says-chairman">Alibaba Eyes Growth In Other Markets As US Ties Strained, Says Chairman</a> Alibaba&#8217;s Not-So-Secret Weapon
As e-commerce remains the company&#8217;s anchor business, Alibaba&#8217;s Cloud Intelligence Group is shaping up to be the next significant growth driver. The cloud unit increased revenue by 18% YoY to $4.15 billion, while adjusted EBITDA surged 69%. But the real news is what&#8217;s fueling that growth: artificial intelligence.
Alibaba has now reported seven straight quarters of triple-digit revenue growth from AI-driven cloud products. CEO Eddie Wu has referred to generative AI as the key driver here, a trend that international investors are following closely, particularly as AI emerges as the next wave across enterprise and consumer applications. The ETF Implication: Who&#8217;s Holding The Bag (In A Good Way)?
For&nbsp;investors&nbsp;in&nbsp;ETFs who want&nbsp;to&nbsp;play&nbsp;Alibaba&#8217;s&nbsp;rebound&nbsp;without&nbsp;committing&nbsp;all&nbsp;to&nbsp;a&nbsp;single&nbsp;stock,&nbsp;there&nbsp;are many&nbsp;funds&nbsp;with&nbsp;significant&nbsp;exposure: KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>)
With 12% weighting in Alibaba, KWEB has been a favorite among those wagering on the Chinese internet rebound. The ETF also provides some exposure to Tencent (OTCPK: TCEHY), JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), and Meituan, providing diversified access to the group. Invesco Golden Dragon China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>)
This fund invests in U.S.-listed Chinese shares, such as Alibaba (8% weightage), and goes heavy on tech-heavy names. It provides a pure play for those interested in the innovation economy of China without having to contend with A-shares. iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>)
A more diversified China play and a significant position in Alibaba (~10%), MCHI may attract investors who want to mix tech with some exposure to financials, real estate, and industrials. Not All Dragons Breathe Fire
While Alibaba&#8217;s Q4&nbsp;results&nbsp;are&nbsp;certainly&nbsp;to be applauded, it&#8217;s not&nbsp;a&nbsp;decade&nbsp;of&nbsp;peace&nbsp;and&nbsp;prosperity&nbsp;on the China tech horizon. The&nbsp;larger&nbsp;China tech&nbsp;story&nbsp;is&nbsp;still&nbsp;susceptible&nbsp;to geopolitical&nbsp;stress,&nbsp;local&nbsp;regulator&nbsp;switches, and sentiment investor turns. ETFs can insulate single-stock risk but aren&#8217;t proof against macro headwinds.
Nevertheless, the green shoots are difficult to overlook. Following years of investor doubts, Alibaba&#8217;s robust quarter may be the catalyst China tech ETFs have been waiting for.
For ETF investors, particularly those who hold long positions in KWEB, PGJ, and MCHI, the last earnings call hinted that the tide could be turning for China tech. With AI traction, cloud profitability, and a solid core commerce engine, Alibaba no longer looks like a cautionary tale. The Alibaba stock is up 38% year-to-date.
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KWEB

MCHI

PowerShares Golden Dragon Halter USX China Portfolio

China Tech's Revival Starts With Alibaba: ETFs To Watch As The Dragon Wakes

Autonomous driving company Pony AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) has announced it has signed an MoU with Dubai Government's Roads and Transport Authority (RTA) to deploy its autonomous taxi fleet in the Emirate.
What Happened: The Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival shared the announcement in an official statement on Monday. The expansion comes in line with Dubai's target of transitioning 25% of the Emirate's transportation to autonomous capabilities by 2030, the statement said.
The rollout will follow a multi-phase plan, with driverless fully-autonomous robotaxis to be introduced in 2026, according to the statement. Pony AI also aims to ramp up its global robotaxi fleet to "thousands of vehicles" within the next two years, the statement shares.&nbsp;
&#8220;Dubai stands at the forefront of intelligent urban mobility innovation, and we are honored to collaborate with RTA on this transformative initiative." Pony AI CFO Dr. Leo Wang said in the statement.
Why It Matters: With this expansion, Pony AI's global operations now include Dubai, the U.S., South Korea, China and Luxembourg. The company has over 270 robotaxis in its fleet in China.
Pony AI has been making moves in the AV segment as the company recently <a href="https://www.benzinga.com/25/05/45225030/robotaxis-take-the-wheel-pony-ai-and-uber-team-up-for-international-rollout">announced a partnership</a> with ride-hailing giant Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and another partnership with Chinese tech giant Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) to collaborate on <a href="https://www.benzinga.com/media/25/04/45013465/pony-ai-and-tencent-partner-on-l4-robotaxis-expand-chinas-self-driving-future">Level 4 robotaxis</a>.
Elsewhere, Elon Musk's Tesla has been gearing up for the launch of its robotaxi fleet in Austin next month, which Musk says would have over 10 robotaxis deployed in the first week. However, the robotaxi plans have been at the receiving end of<a href="https://www.benzinga.com/25/05/45582499/gary-black-slams-teslas-unsupervised-autonomous-driving-ahead-of-austin-robotaxi-launch-i-have-warned"> criticism from experts</a>.&nbsp;
Price Action: PONY gained 6.61% in Pre-market trading, currently trading for $18.56, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link</a>
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</ul>
Photo courtesy: Michael Vi / Shutterstock.com

UBER

Tesla Autonomous Driving Rival Pony AI To Expand Robotaxi Fleet Into Dubai Following Agreement With Regulators

Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and DeepSeek&#8217;s home province Zhejiang introduced a comprehensive policy package to <a target="_blank" href="https://www.benzinga.com/topic/chinese-stocks" rel="noreferrer noopener">accelerate&nbsp;artificial intelligence (AI)</a> research, industrial growth, and talent acquisition.
Major companies in the AI supply chain, including those responsible for large language models, cloud computing, and&nbsp;semiconductors, could potentially generate combined operating revenues of over 1 trillion yuan ($138.6 billion) by 2027, nearly double the current production value of China&#8217;s AI industry, which last year saw total output worth 570 billion yuan, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3311106/alibaba-and-deepseeks-home-province-launches-ai-spending-spree-become-innovation-hub" rel="noreferrer noopener">reported</a> on Wednesday, citing official data.
The strategy resonated with Beijing&#8217;s call for technological self-reliance.
Financial support includes attracting more than 10 billion yuan in venture capital to invest in AI, especially subsidizing start-ups.
Also Read: <a href="https://www.benzinga.com//node/45546785">China&#8217;s Twitter-Like Platform Weibo Keeps User Engagement High, Credits AI-Recommendation Engine</a>
The policy takes effect on May 31 and will remain valid through 2027.
The Guangdong government announced subsidies for the AI and robotics sectors in April. The Guangdong city of Shenzhen is home to tech firms, including&nbsp;Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and&nbsp;Huawei Technologies.
Alibaba is considered the tech barometer of China. The stock surged over 46% year-to-date.
Alibaba reported its&nbsp;<a target="_blank" href="https://www.benzinga.com/25/05/45473543/alibabas-cloud-and-e-commerce-units-shine-as-analyst-sees-ai-take-rates-fueling-future-growth" rel="noreferrer noopener">fiscal&nbsp;fourth-quarter</a> revenue growth of&nbsp;7%&nbsp;to&nbsp;$32.58 billion, missing the analyst consensus estimate of&nbsp;$33.08 billion. It clocked an adjusted earnings per ADS of&nbsp;$1.73, which&nbsp;beat the&nbsp;analyst consensus estimate&nbsp;of&nbsp;$1.48.&nbsp;Cloud Intelligence Group revenue grew by&nbsp;18%&nbsp;to&nbsp;$4.15 billion.
Benchmark&nbsp;analyst Fawne Jiang continues to view Alibaba as a leading beneficiary of accelerated AI adoption in China and a top structural player in the sector.
Price Action:&nbsp;BABA shares traded lower by&nbsp;0.75%&nbsp;to&nbsp;$124.22 at&nbsp;the last check on Wednesday.
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</ul>
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Alibaba's Home Province Launches $138 Billion AI Push To Double China's Industry Output By 2027

<a target="_blank" href="https://www.benzinga.com/topic/autonomous-vehicles" rel="noreferrer noopener">Chinese autonomous company</a> WeRide&nbsp;Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRD#NASDAQ">WRD</a>) tapped Tencent Holding (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) Tencent Cloud to boost robotaxi commercial operations and build smart driving solutions for international markets.
Tencent&#8217;s&nbsp;cloud unit will depend on its global cloud infrastructure to provide WeRide with cloud services to build a smart driving operation network, Reuters reported on Tuesday. WeRide stock gained after the report.
In April, Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and WeRide partnered with Dubai&#8217;s Road and Transport Authority (RTA) to <a target="_blank" href="https://www.benzinga.com/tech/25/04/44605125/uber-teams-up-with-weride-to-bring-self-driving-cars-to-dubai" rel="noreferrer noopener">launch autonomous vehicles</a>, advancing Dubai&#8217;s self-driving transport goals.
Also Read: <a href="https://www.benzinga.com/news/25/04/44988070/autonomous-ride-hailing-just-got-real-vw-and-uber-reveal-first-us-city" target="_blank" rel="noreferrer noopener">Autonomous Ride-Hailing Just Got Real: VW And Uber Reveal First US City</a>
Also in April, WeRide domestic rival&nbsp;Pony AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) collaborated with Tencent Cloud&nbsp;<a target="_blank" href="https://www.benzinga.com/media/25/04/45013465/pony-ai-and-tencent-partner-on-l4-robotaxis-expand-chinas-self-driving-future" rel="noreferrer noopener">to bring robotaxi rides</a> to WeChat and Tencent Maps, boosting autonomous ride-hailing access.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said in April that it had started testing its autonomous ride-hail service with Austin and Bay Area employees ahead of its planned robotaxi launch this summer.
Tesla chief Elon Musk expects the EV giant&#8217;s robotaxi fleet to function like a combination of Airbnb, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) and Uber.
Price Action: WRD stock is up 4.62% at $8.91 at last check Tuesday.
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</ul>
Photo: Shutterstock

ABNB

WeRide Stock Climbs On Tencent Cloud Deal To Speed Global Robotaxi Push

As criticism mounts over the Donald Trump administration's <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">AI chip deals with Gulf states</a>, David Sacks and Sam Altman are pushing back, calling the partnerships a strategic win over China.
What Happened: Trump announced multibillion-dollar AI partnerships between U.S. companies and Gulf nations, including Saudi Arabia and the UAE.
The deals involve major players like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
Despite <a href="https://www.benzinga.com/25/05/45459318/chuck-schumer-blasts-trump-for-backing-ai-chip-sales-to-saudi-arabia-uae-warns-deal-risks-us-tech-secrets-falling-into-chinas-hands">concerns from lawmakers</a> about potential Chinese access to U.S. AI chips via Gulf allies, Sacks, a tech investor and White House AI advisor, defended the initiative in a post on X, formerly Twitter.
"I'm genuinely perplexed how any self-proclaimed ‘China Hawk' can claim that President Trump's AI deals with UAE and Saudi Arabia aren't hugely beneficial for the United States," Sacks wrote.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most&#8217; As China&#8217;s Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
He cited semiconductor analyst Dylan Patel that the partnerships "will noticeably shift the balance of power" in the U.S.'s favor and asked critics: "Does China wish it had made these deals? Yes of course it does. But President Trump got there first and beat them to the punch."
Altman shared Sacks&#8217; post on X and echoed his view, stating, "This was an extremely smart thing for you all to do and I'm sorry naive people are giving you grief."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">this was an extremely smart thing for you all to do and i'm sorry naive people are giving you grief. <a href="https://t.co/iTkQj9c9QW">https://t.co/iTkQj9c9QW</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1923428713095479437?ref_src=twsrc%5Etfw">May 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It's Important: The Joe Biden administration had previously implemented <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">rules to restrict AI chip exports</a> to countries like Saudi Arabia and the UAE, citing national security risks.
However, those limits have now been rolled back, with new policies still in development, <a href="https://www.axios.com/2025/05/16/trump-ai-deals-gulf-chips-china-trade-policy">reported</a> Axios.
On Thursday, Senate Minority Leader Chuck Schumer (D-N.Y.) cautioned that Trump's backing of efforts to export sensitive U.S. AI chip technology to allies in the Persian Gulf might ultimately give an advantage to China.
Earlier, Nvidia CEO Jensen Huang warned that limiting access to China's AI market could <a href="https://www.benzinga.com/markets/25/05/45243129/nvidia-ceo-jensen-huang-says-losing-access-to-chinas-potential-50-billion-ai-market-would-be-a-tremendous-loss">harm the company, U.S. jobs</a>, and overall technological progress.
His remarks followed a report revealing that Nvidia has notified key Chinese clients — including Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) — that it is developing a <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">modified version of its AI chip designed</a> to meet U.S. export restrictions.
Nvidia has earned a growth score of 95.02% from Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other top tech firms</a> like AMD, Qualcomm, Alibaba and Tencent.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18231701/Screenshot-2025-05-19-at-8.46.56%E2%80%AFAM.png" alt="" class="wp-image-919127" /></a></figure>
Photo Courtesy: twenty1studio On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

QCOM

David Sacks Hails Trump's AI Strategy In Middle East As Power Move Over China — OpenAI CEO Sam Altman Backs Him: 'Sorry Naive People Are Giving You Grief'

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly expanding its research footprint in China with a new Shanghai-based R&amp;D center, signaling a strategic push to retain AI dominance in the region amid tightening U.S. export restrictions.
What Happened: Nvidia CEO Jensen Huang met with Shanghai Mayor Gong Zheng last month to discuss plans for the new facility, <a href="https://www.ft.com/content/c886a4c0-da75-4ea7-8230-6ffd18815fa4">reported</a> the Financial Times, citing two people with knowledge of the matter.
Nvidia is already leasing new office space in Shanghai to house current staff and accommodate the expansion.
While the company said that no GPU designs will be sent to China, the R&amp;D center will focus on optimizing existing products, verifying chip designs and exploring use cases like autonomous driving, the report noted.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45309175/nvidia-modifies-h20-chip-for-china-after-us-restrictions-block-sales-aims-to-deliver-new-version-by-july-report" target="_blank" rel="noreferrer noopener">Nvidia Modifies H20 Chip For China After US Restrictions Block Sales, Aims To Deliver New Version By July: Report</a>
"We are not sending any GPU designs to China to be modified to comply with export controls," Nvidia told the publication.
Why It's Important: The move underscores <a href="https://www.benzinga.com/25/04/44963176/chinese-tech-firms-led-by-alibaba-hoard-nvidia-ai-chips-amid-us-sanctions">Nvidia's delicate balancing act</a>—maintaining a presence in one of its largest overseas markets while adhering to U.S. export controls.
China accounted for roughly 14% of Nvidia's revenue in 2023, or about $17 billion. Huang has said the market could be worth as much as $50 billion.
Huang previously warned that limiting access to <a href="https://www.benzinga.com/markets/25/05/45243129/nvidia-ceo-jensen-huang-says-losing-access-to-chinas-potential-50-billion-ai-market-would-be-a-tremendous-loss">China's AI market could harm</a> not only Nvidia's business but also U.S. jobs and technological progress.
His remarks followed reports that Nvidia had notified major Chinese customers — including Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) — that it is developing a <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">modified version of AI chips</a> to meet U.S. export restrictions.
Price Action: Nvidia shares slipped 0.096% to $134.70 in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
According to Benzinga Edge Stock Rankings, Nvidia currently holds a growth score of 95.06%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against top tech firms like</a> AMD, Qualcomm, Alibaba and Tencent.
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Photo Courtesy: Hepha1st0s On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jensen Huang-Led Nvidia Plans New Shanghai Research Hub To Stay Competitive In China As US Export Curbs Threaten AI Chip Sales: Report

On Thursday, Senate Minority Leader Chuck Schumer (D-N.Y.) warned that President Donald Trump's support for exporting sensitive U.S. artificial intelligence chip <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">technology to Persian Gulf allies</a> could benefit China.
What Happened: On the Senate floor, Schumer criticized Trump for greenlighting high-stakes deals allowing advanced U.S. chips to be sold to Saudi Arabia and the UAE, <a href="https://thehill.com/homenews/senate/5302029-schumer-trump-saudi-ai-chip-deals/">reported</a> The Hill.
"This deal could very well be dangerous because we have no clarity on how the Saudis and Emiratis will prevent the Chinese Communist Party, the Chinese government, the Chinese manufacturing establishment from getting their hands on these chips," Schumer said.
He warned that "inevitably, when foreign countries end up with American-made chips, the CCP, the Chinese Communist Party, sooner or later gets hold of these American chips and their secrets in them."
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most' As China's Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
Several U.S. tech firms — including Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) — have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45424189/nvidia-amazon-tesla-palantir-among-top-beneficiaries-of-1-trillion-saudi-arabia-ai-push-analyst-says">announced major AI chip agreements</a> with Gulf-backed entities during Trump's Middle East trip.
Nvidia alone plans to deliver 18,000 Blackwell chips to a Saudi sovereign wealth fund-backed company.
Why It's Important: Over the years, the U.S. government has imposed tight export restrictions on advanced chips over fears they could be used for military or surveillance purposes by adversaries like China.
Schumer said these new deals undermine those efforts and could shift cutting-edge manufacturing abroad.
"What's this about bringing jobs and high-end technology back to the country?" Schumer asked. "All of a sudden it's OK to give it to other countries? Especially other countries whose security might not be as tight as ours?"
Previously, Nvidia CEO Jensen Huang cautioned that restricting access to China&#8217;s AI market <a href="https://www.benzinga.com/markets/25/05/45243129/nvidia-ceo-jensen-huang-says-losing-access-to-chinas-potential-50-billion-ai-market-would-be-a-tremendous-loss">could negatively impact</a> not only the company but also American jobs and technological innovation.
His statement came after a report indicated that Nvidia has informed major Chinese clients — including Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) — that it is working on a new variant of H20 AI chip models <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">tailored to comply</a> with U.S. export regulations.
Nvidia holds a growth score of 95.06% according to Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other leading tech companies</a> such as AMD, Qualcomm, Alibaba and Tencent.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chuck Schumer Blasts Trump For Backing AI Chip Sales To Saudi Arabia, UAE: 'This Deal Could Very Well Be Dangerous'

In a move that indicates faith in the resurgence of global equities, Lazard Asset Management has transformed its International Equity Advantage mutual fund into<a href="https://www.benzinga.com/etfs"> actively managed ETF</a>, the Lazard International Dynamic Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEQ#NYSE">IEQ</a>). With this, IEQ joins Lazard&#8217;s theme- and region-based ETF suite that includes the Equity Megatrends ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THMZ#NASDAQ">THMZ</a>), Japanese Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JPY#NASDAQ">JPY</a>), and Next Gen Technologies ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEKY#NASDAQ">TEKY</a>).
Also Read:<a href="https://www.benzinga.com/etfs/specialty-etfs/25/05/45297474/imtm-etf-tanks-then-soars-why-global-momentum-is-making-a-comeback"> IMTM ETF Tanks, Then Soars: Why Global Momentum Is Making A Comeback</a>
Launched on Monday, IEQ is not starting from zero. It inherits both the history and portfolio DNA of its mutual fund ancestor, now in the slick, low-cost, and tax-efficient wrapper increasingly favored by investors. The ETF launched with $31.1 million in assets and an expense ratio of 0.40%.
IEQ follows the MSCI All Country World ex-US Index (ACWI ex-US) as its benchmark but seeks to outperform it, not merely replicate it. The fund uses a quantitatively oriented process that combines machine intelligence with fundamental research to create a concentrated, high-conviction portfolio of non-U.S. stocks.
The fund&#8217;s strategy resists temptation to lean too heavily in any one direction of investment. Rather, Lazard&#8217;s team regularly assesses companies on the basis of valuation, growth, quality, and the way markets are thinking about them.
Rob Forsyth, Lazard's Global Head of ETFs, sees the &#8220;pendulum swing back toward international equities,&#8221; and investors are taking notice.
Additionally, Lazard Chief Market Strategist Ronald Temple sees a &#8220;world of opportunity&#8221; outside of the U.S., according to Bloomberg.
IEQ's portfolio includes global powerhouses such as TSMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Iberdrola (OTCPK: IBDRY), Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and Tencent (OTCPK: TCEHY), offering exposure across key regions and sectors.
As the ETF market starts to sizzle and international shares return to favour with investors, Lazard is betting that an experienced international strategy with a technology-driven twist is precisely what the market needed. IEQ might be a new ticker tape name, but the strategy playbook that underlies it has been rigorously stress-tested through market cycles — and now it&#8217;s taking it global.
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IBDRY

TEKY

THMZ

Lazard Transforms Mutual Fund Into IEQ ETF Amid Rising Demand For International Stocks

Following a new U.S. directive banning the use of Huawei Technologies AI chips globally, Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) said it has sufficient stockpiles of high-end chips, like Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H20, to continue training large language models for "a few more generations."
What Happened: "So it's a very dynamic situation," Tencent president Martin Lau told analysts on a conference call on Wednesday, <a href="https://asia.nikkei.com/Business/Technology/Tencent-says-chip-stockpile-can-power-AI-training-for-generations-despite-US-ban">reported</a> Nikkei Asia. "We just … have to manage the situation," not only in a compliant way, but also by making sure our AI strategy can still be executed.
The U.S. Bureau of Industry and Security this week barred the use of Huawei chips for AI, even outside American borders. This comes as Washington tightens export controls amid growing concerns over military applications of AI technology.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most' As China's Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
Lau noted that while GPU supply is tight, Tencent has prioritized internal use, focusing first on revenue-generating AI products like advertising and content recommendations, with model training following.
He added that Tencent is optimizing software for inference, effectively doubling GPU capacity, the report noted.
Why It's Important: Tencent's first-quarter earnings beat analyst expectations, with revenue rising 13% year-over-year to 180 billion yuan ($24.9 billion), driven by strong AI-enhanced ad performance and gaming growth.
Previously, it was reported that Chinese tech giants, including Tencent, Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and ByteDance <a href="https://www.benzinga.com/25/02/43931074/chinese-tech-giants-like-tencent-alibaba-and-bytedance-rush-to-buy-nvidias-h20-ai-chips-as-deepseeks-low-cost-models-fuel-massive-demand-surge">increased their orders for</a> Nvidia&#8217;s H20 chips to meet rising demand for affordable AI solutions, particularly from emerging startups like DeepSeek.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Since January, Nvidia has reportedly received H20 chip orders totaling around $18 billion. However, in March, Chinese server manufacturer H3C cautioned about a <a href="https://www.benzinga.com/25/03/44519562/nvidia-faces-fresh-china-setback-as-chip-shortages-and-sanctions-disrupt-supply">potential shortage of these chips</a>.
Last week, it was reported that Nvidia is redesigning its H20 AI chip for the Chinese market, with plans to release the revised version as soon as July. The decision followed a notification from the Donald Trump administration informing Nvidia that the original H20 chip would <a href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker">require an export license</a>.
Nvidia received an impressive growth score of 95% from Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other leading tech giants</a> such as Alibaba and Tencent.
Photo Courtesy: Tada Images on Shutterstock.com
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After Trump Administration's Ban On Huawei AI Chips Goes Global, Tencent Says It Has Enough High-End AI Chips To Train Models For 'Generations'

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">reportedly redesigning</a> its H20 artificial intelligence chip for the Chinese market after U.S. export controls effectively blocked the original version, with plans to launch the modified chip as early as July.
What Happened: Nvidia has notified major Chinese customers, including top cloud service providers, that it intends to release a downgraded H20 chip within the next two months, reported Reuters, citing sources familiar with the matter.
The move comes after the U.S. government <a href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker">informed Nvidia last month</a> that the original H20 would require an export license, effectively banning it from sale in China under tightened national security rules.
Following this, Nvidia revealed that export restrictions might lead to a revenue loss of $5.5 billion.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most&#8217; As China&#8217;s Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
The company has since developed new technical thresholds to guide the modified design, which will include substantial reductions in memory capacity and potentially other performance adjustments, the report noted.
Nvidia did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It's Important: Chinese tech giants such as Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and ByteDance earlier this year <a href="https://www.benzinga.com/25/02/43931074/chinese-tech-giants-like-tencent-alibaba-and-bytedance-rush-to-buy-nvidias-h20-ai-chips-as-deepseeks-low-cost-models-fuel-massive-demand-surge">ramped up H20 orders to fuel</a> a growing demand for cost-effective AI solutions, especially from startups like DeepSeek.
Since January, Nvidia has reportedly accumulated $18 billion worth of H20 orders. However, in March, Chinese server maker H3C warned of a <a href="https://www.benzinga.com/25/03/44519562/nvidia-faces-fresh-china-setback-as-chip-shortages-and-sanctions-disrupt-supply">possible shortage</a> of Nvidia's H20 chips.
Earlier this month, Nvidia CEO Jensen Huang informed U.S. lawmakers that AI chip <a href="https://www.benzinga.com/25/05/45157365/nvidia-ceo-jensen-huang-warns-us-lawmakers-that-export-bans-are-backfiring-fueling-huaweis-rise-in-global-ai-chip-race">export restrictions might be giving</a> China's Huawei Technologies a competitive advantage.
That same day, <a href="https://www.benzinga.com/25/05/45160136/nvidia-blasts-anthropic-for-backing-stricter-chip-bans-on-china-focus-on-innovation-than-tell-tall-tales">Nvidia also criticized</a> AI startup Anthropic for supporting tighter U.S. export controls on AI chips to China.
Price Action: Nvidia shares dipped by 0.27% to $117.05 in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga Edge Stock Rankings gave Nvidia a strong growth score of 94.76%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other major tech players</a> like Alibaba and Tencent.
Photo Courtesy: Hepha1st0s On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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