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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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El ETF ARGT sube un 3,5 % tras la flexibilización de divisas en Argentina, superando al S&amp;P 500 y EEM. ¿Es momento de invertir?

ARGT supera al S&amp;P 500 y EEM tras flexibilización de divisas en Argentina

Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/topic/nvidia">stock is taking a hit</a> Friday as a U.S. government decision to permit the chip giant to resume sales of its H20 AI chips to China faces strong opposition from House Select Committee on China Chairman John Moolenaar. 
This move, seen by some as a boost to China&#8217;s AI ambitions, comes amid broader national security concerns that are also delaying a multi-billion dollar AI chip deal between the U.S. and the United Arab Emirates, highlighting the increasingly complex geopolitical landscape impacting the semiconductor industry.
Moolenaar warned Commerce Secretary Howard Lutnick that the move could boost China&#8217;s AI capabilities and help its firms gain global market share, Reuters reported on Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46462378/why-nvidias-jensen-huang-says-china-leads-in-open-source-ai" rel="noreferrer noopener">Nvidia&#8217;s Jensen Huang Says China Leads In Open-Source AI</a>
In a letter sent Friday, Moolenaar criticized the reversal of the April export ban, which aimed to keep cutting-edge U.S. AI chips out of Chinese hands due to national security risks.
Nvidia confirmed earlier this week that the U.S. government had authorized renewed H20 chip sales to China. The chipmaker called the product a significant revenue source.
Lutnick stated Tuesday that the H20 chip decision was linked to ongoing negotiations with China over rare earths and magnets.
The Select Committee&#8217;s April report noted that Nvidia&#8217;s H20 chips were key in enabling a surprising AI model developed by China&#8217;s DeepSeek. Moolenaar also cited Tencent&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) use of H20s to train large-scale AI systems.
<h2 class="wp-block-heading">Concerns and Delays in the UAE Deal</h2>
Beyond the China sales, Nvidia is facing additional scrutiny due to national security concerns that are holding up a significant chip deal with the United Arab Emirates (UAE). This deal, which would enable the UAE to acquire billions of dollars&#8217; worth of Nvidia AI chips, is facing pushback from some Trump administration officials. Their primary apprehension is that Chinese firms could gain indirect access to this advanced technology through the agreement, the Wall Street Journal <a href="https://www.wsj.com/politics/national-security/national-security-concerns-tie-up-trumps-u-a-e-chips-deal-a0273815" target="_blank" rel="noreferrer noopener">reported</a> on Wednesday.
Although President Trump had endorsed the deal during a May visit to the Middle East, the terms have yet to be finalized. A key sticking point is G42, an Abu Dhabi-based AI firm slated to receive approximately 20% of the chips. U.S. officials are concerned that G42, due to its historical ties and collaborations with Chinese entities, could serve as a conduit for China to obtain restricted semiconductors.
For the time being, the Commerce Department intends to block shipments to G42, despite Secretary Lutnick&#8217;s public expression of confidence in the deal&#8217;s future. Analysts say this internal disagreement, amid fears that Huawei could fill the vacuum, highlights how export controls on AI chips have become a geopolitical flashpoint.
While some officials, like White House AI czar David Sacks, advocate for proceeding with the UAE agreement to maintain U.S. leadership in the global AI race, others are pushing for stricter restrictions before moving forward. The prevailing lack of clarity regarding chip limits and export rules continues to fuel broader uncertainty across the entire semiconductor industry.
NVDA Price Action: NVDA stock is trading lower by 0.51% to $172.10 at last check Friday.
Read Next:
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Is Washington Handing China A Win With Nvidia Sales?

The combined market capitalization of America's seven largest corporations has now overtaken the entire economic output of China, the <a href="https://www.benzinga.com/topic/china">world's second-largest economy</a>.
As of July 17, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) together reached a staggering $18.84 trillion in market value.
That figure now exceeds China's 2024 gross domestic product (GDP), which stood at 134.9 trillion yuan, or roughly $18.7 trillion when converted at current exchange rates.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Company</th>
<th>Market Cap ($B)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nvidia</td>
<td>4,217.84</td>
</tr>
<tr>
<td>Microsoft</td>
<td>3,797.20</td>
</tr>
<tr>
<td>Apple</td>
<td>3,137.98</td>
</tr>
<tr>
<td>Amazon</td>
<td>2,369.93</td>
</tr>
<tr>
<td>Alphabet</td>
<td>2,215.35</td>
</tr>
<tr>
<td>Meta</td>
<td>1,761.12</td>
</tr>
<tr>
<td>Broadcom</td>
<td>1,343.95</td>
</tr>
<tr>
<td>Total (U.S.)</td>
<td>$18.84 trillion</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Market Cap vs. GDP? Not The Same Thing</h3>
This valuation supremacy is fueled by a concentrated wave of investor enthusiasm around artificial intelligence and future cash flow generation. Nvidia alone now holds over $4.2 trillion in market cap, riding a 2024 rally powered by GPU dominance in AI workloads.
Yet, while the headline comparison is striking, it's important to recognize that market capitalization and GDP measure entirely different things. 
One is the total value of a company's stock at a moment in time. The other tracks an entire country's economic output over a year.
One is a stock, the other a flow—so the comparison, while headline-worthy, is not economically sound.
Still, the fact that just seven U.S. companies are now "worth" more than China's entire economy says a lot about how much confidence investors have in American tech.
<h3 class="wp-block-heading">Comparing Apples to Apples: U.S. vs. China's Top 7 Stocks</h3>
While comparing Wall Street's Big 7 to China's entire GDP generates headlines, a fairer—and more financially sound—comparison pits the largest U.S. companies against the largest Chinese companies by market cap. The result is still striking.
As of July 17, the combined market capitalization of China's seven biggest publicly traded firms stood at just $2.3 trillion, or 12% of the $18.84 trillion total commanded by the U.S. tech titans.
By comparison, Nvidia alone has a market cap of $4.2 trillion, nearly double the value of China's top seven combined.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Company</th>
<th>Market Cap ($B)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tencent Holdings Ltd. (OTCPK: TCEHY)</td>
<td>597.05</td>
</tr>
<tr>
<td>Industrial and Commercial Bank of China Ltd. (OTCPK: IDCBY)</td>
<td>361.61</td>
</tr>
<tr>
<td>Agricultural Bank of China Ltd. (OTCPK: ACGBY)</td>
<td>301.15</td>
</tr>
<tr>
<td>China Construction Bank Corp. (OTCPK: CICHY)</td>
<td>285.63</td>
</tr>
<tr>
<td>Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)</td>
<td>266.88</td>
</tr>
<tr>
<td>Kweichow Moutai Co. Ltd. (OTCPK: KWEHY)</td>
<td>247.84</td>
</tr>
<tr>
<td>China Mobile Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHL#NYSE">CHL</a>)</td>
<td>244.59</td>
</tr>
<tr>
<td>Total (China&#8217;s TOP 7)</td>
<td>$2.3 trillion</td>
</tr>
</tbody>
</table>
</figure>
Now Read:
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46474629/wall-street-thursday-stock-market-today">Nasdaq 100 Sets New Records, Small Caps Outperform: What&#8217;s Moving Markets Thursday?</a></li>
</ul>
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Wall Street's Big 7 Are Now Bigger Than China's Entire Economy

Chinese technology stocks surged on the Hong Kong Stock Exchange on Wednesday following the U.S. government&#8217;s decision to lift certain semiconductor export restrictions to China.
What Happened: The rally followed Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46407517/nvidia-resumes-h20-shipments-to-china-as-jensen-huang-meets-trump-beijing-officials-fully-compliant-rtx-pro-aims-to-bridge-ai-cold-war">announcement on Monday</a> that it would resume H20 GPU sales in China and launch a new RTX PRO graphics chip specifically designed for Chinese customers. 
CEO Jensen Huang stated the company is submitting applications to restart H20 shipments, with U.S. government assurances that license approvals will be granted.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Stock on the Hong Kong stock exchange</th>
<th>Price (HKD)</th>
<th>US$ Price</th>
<th>Daily Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)</td>
<td>115.40</td>
<td>$15.00</td>
<td>+1.67%</td>
</tr>
<tr>
<td>Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>)</td>
<td>519.00</td>
<td>$67.47</td>
<td>+0.29%</td>
</tr>
<tr>
<td>Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>)</td>
<td>89.15</td>
<td>$11.59</td>
<td>+1.65%</td>
</tr>
<tr>
<td>JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>)</td>
<td>125.90</td>
<td>$16.37</td>
<td>+0.72%</td>
</tr>
<tr>
<td>Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>)</td>
<td>57.70</td>
<td>$7.50</td>
<td>+0.087%</td>
</tr>
</tbody>
</table>
</figure>
The U.S. had previously imposed broad <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">semiconductor restrictions on China</a>, limiting access to advanced chips from key companies including Nvidia, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>). 
These measures, enacted citing national security concerns, aimed to curb China&#8217;s technological advancement in critical areas.
Alibaba co-founder Joe Tsai previously stated that China lagged behind the U.S. by <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">approximately two years in AI development</a>, attributing this gap largely to technology restrictions.
The export curbs had limited Chinese firms&#8217; access to advanced chips, hampering Alibaba&#8217;s cloud business and computing services capabilities.
See Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/07/46430101/bank-of-america-q2-earnings-preview-can-top-warren-buffett-holding-keep-beating-analyst-estimates">Bank Of America Q2 Earnings Preview: Can Top Warren Buffett Holding Keep Beating Analyst Estimates?</a>
Why It Matters: The semiconductor restrictions had a significant financial impact on U.S. companies. N<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">vidia booked a $4.5 billion charge</a> in its first quarter as a direct result of the H20 export ban to China, which took effect April 9.
China&#8217;s economy <a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/07/46430471/chinas-gdp-growth-beats-expectations-but-which-etfs-will-actually-benefit">expanded 5.2% in the second quarter of 2025</a>, slightly exceeding the 5.1% economists&#8217; forecast but representing a deceleration from the first quarter&#8217;s 5.4% rate. The performance keeps Beijing on track to achieve its 5% full-year growth target.
Huang is scheduled to attend China&#8217;s International Supply Chain Expo opening <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">ceremony in Beijing on Wednesday</a>, where he may meet with top Chinese officials, including Premier Li Qiang and Vice Premier He Lifeng. 
According to the Financial Times, Nvidia plans to debut a China-specific AI chip as early as September, a modified version of the Blackwell RTX Pro 6000 designed to <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">comply with U.S. export regulations</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46434347/nvidia-says-washington-gets-it-after-trumps-ai-czar-david-sacks-says-us-has-to-outcompete-global-rivals">Nvidia Says &#8216;Washington Gets It&#8217; After Trump&#8217;s AI Czar David Sacks Says US Has To &#8216;Outcompete&#8217; Global Rivals</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Robert Way / Shutterstock.com

Nvidia's China Comeback Sparks Rally In Alibaba, Baidu, Tencent Shares

<a href="https://www.benzinga.com/topic/china">China&#8217;s economy expanded</a> by 5.2% in the second quarter of 2025, slightly better than expected and just enough to spark cautious optimism in global markets. Although the number exceeds the 5.1% economists forecast, according to a Reuters poll, it also represents a slight deceleration from Q1&#8217;s 5.4% rate, as cited by CNBC. In short, China&#8217;s okay: not booming, not crashing.
But, for ETF investors, the devil is in the policy details.
While the economy overall is well on its way to achieving Beijing&#8217;s 5% full-year growth target, Chinese policymakers are temporarily giving themselves a rest from yet another stimulus. That alters the math for investors owning, or considering, China-themed ETFs. Some will flourish in this &#8220;wait-and-watch&#8221; scenario; others will stagnate until Beijing deploys its next fiscal stimulatory dose.
Let&#8217;s dissect the terrain.
Also Read:<a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46423852/nvidias-china-chip-deal-signals-new-tailwind-for-chip-and-ai-etfs"> Nvidia&#8217;s China Chip Deal Signals New Tailwind For Chip And AI ETFs</a>
<h2 class="wp-block-heading">Exports Are Up, And So Are Certain ETFs</h2>
Among the quiet heroes of Q2 is China&#8217;s export machine. In spite of the geopolitical tensions surrounding it, China was able to increase exports to Southeast Asia by 13%, and exports to the European Union by 6.6%. The numbers suggest strength in China&#8217;s position as a global supplier, even with weak domestic demand.
And that bodes well for broad China ETFs such as,
<ul class="wp-block-list">
<li>iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>): Provides diversified exposure to Chinese firms across industries, such as industrials, consumer discretionary, and technology. The fund is up 2% as of Tuesday&#8217;s publication.</li>
<li>iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>): Tracks the 50 largest Chinese securities listed on the Hong Kong Stock Exchange, which is a more export-sensitive vehicle. The fund was close behind MCHI, gaining almost 2% as of Tuesday&#8217;s writing.</li>
</ul>
Why they&#8217;re worth watching: These ETFs may continue to thrive if trade holds up and global supply chains remain fairly stable. If Beijing continues to prioritize helping industry and manufacturing over consumer segments, big caps and exporters may be among the early beneficiaries.
Also Read: <a href="https://www.benzinga.com/markets/tech/25/07/46409079/nvidia-growth-estimates-get-10-boost-as-us-lifts-china-chip-export-curbs-gene-munster-predicts-30-35-growth-for-2026">Nvidia Growth Estimates Get 10% Boost As US Lifts China Chip Export Curbs: Gene Munster Predicts 30-35% Growth For 2026</a>
<h2 class="wp-block-heading">Domestic Demand Still In The Doldrums</h2>
Although exports were strong, Chinese consumer consumption is still not strong enough. That&#8217;s bad news for investors hoping for a recovery in e-commerce, technology services, or discretionary retail.
However, ETFs such as these still have long-term potential:
<ul class="wp-block-list">
<li>KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>): Follows Chinese internet stocks like Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), JD.com (OTCPK: JDCMF), and Tencent (OTPK: TCEHY). The fund gained 4% Tuesday afternoon.</li>
<li>Invesco China Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CQQQ#NYSE">CQQQ</a>): Provides access to Chinese technology and communications companies, some of which rely more heavily on domestic consumers than on international trade. The fund was up 3.2% on Tuesday.</li>
</ul>
The Catch? These ETFs are also more sensitive to domestic demand and confidence. With real estate remaining weak and youth unemployment persisting, consumer spending is likely to remain subdued unless Beijing introduces targeted stimulus measures aimed at households. Analysts are speculating that such action, if it materializes, might be timed for September, CNBC reported.
<h2 class="wp-block-heading">Policy-Driven Plays</h2>
Another route to betting on Chinese stimulus (or not) is through A-shares: shares of mainland Chinese companies listed on exchanges such as the Shanghai and Shenzhen.
Xtrackers Harvest CSI 300 China A-Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASHR#NYSE">ASHR</a>): Follows the performance of the CSI 300 Index, an index of the 300 largest and most liquid stocks in mainland China. ASHR is particularly sensitive to policy shifts. Any future fiscal support directed at infrastructure, state-owned enterprises, or domestic industries could directly benefit these companies, and in turn, this ETF.
That said, there is a point to note. ASHR tends to respond more quickly to Chinese policy decisions than more internationally exposed ETFs, such as FXI or MCHI. If you're expecting stimulus, this could be your "policy play."
<h2 class="wp-block-heading">The Stimulus Watch</h2>
So far, Beijing has resisted the urge to unleash a major new round of economic support. Some of this caution stems from Q2's relatively stable growth, but it also reflects concerns about long-term debt levels and the effectiveness of past stimulus efforts.
Nevertheless, the pressure is mounting. In its latest <a href="https://research.nus.edu.sg/eai/wp-content/uploads/2025/07/EAIC-93-20250711-English_Chinese-2-1.pdf">report</a>, People&#8217;s Bank of China advisor Huang Yiping demanded as much as 1.5 trillion yuan of fiscal stimulus, mainly to lift consumers&#8217; spending.
September is now under the markets&#8217; radar, that is when the next batch of stimulus might arrive if the economic pace is seen to decelerate.
Until that point, ETFs with exposure to exports, industrials with large market capitalizations, or sectors boosted by the recent trade truce (such as rare earths and semiconductors) might be in the driver&#8217;s seat.
In April, U.S.-China tariffs jumped to an astronomical 145%, prompting a temporary market panic. By May, however, the two nations negotiated a temporary middle ground. If this detente solidifies into a full-fledged trade agreement by the August 12 deadline, tech-biased ETFs such as CQQQ and KWEB may gain from heightened cross-border flows and reduced regulatory risk.
<h2 class="wp-block-heading">Final Thoughts</h2>
The Q2 GDP surprise buys Beijing some time, and for the time being, that means selectivity is key. One can consider holding onto ETFs with exposure to what&#8217;s performing (exports, large caps), but watch domestic-hedged funds that may come roaring back to life if fiscal stimulus arrives later this year.
In China, as in the markets, the next big move is never about the numbers; it&#8217;s always about what policymakers do next.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">Chinese Stocks See Broad Rally As US Eases Chip Curbs</a></li>
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China's GDP Growth Beats Expectations, But Which ETFs Will Actually Benefit?

Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stocks jumped over 4% in Monday trading after investors rushed in on word that the company may once again be able to sell its high-powered H20 AI chips to China. The U.S. government is reportedly set to issue licenses enabling Nvidia to ship billions of dollars&#8217; worth of GPUs to Chinese technology behemoths such as ByteDance and Tencent (OTCPK: TCEHY), potentially restoring up to $20 billion in lost revenue, <a href="https://www.reuters.com/technology/nvidia-resume-h20-gpu-sales-china-2025-07-15/">according</a> to Reuters.
Also Read: <a href="https://www.benzinga.com/markets/tech/25/07/46409079/nvidia-growth-estimates-get-10-boost-as-us-lifts-china-chip-export-curbs-gene-munster-predicts-30-35-growth-for-2026">Nvidia Growth Estimates Get 10% Boost As US Lifts China Chip Export Curbs: Gene Munster Predicts 30-35% Growth For 2026</a>
For retail investors, this isn&#8217;t so much about the one stock; it&#8217;s about what&#8217;s going to happen to the ETFs that contain Nvidia in terms of their size. And a few of them are already up.
<h2 class="wp-block-heading">The ETFs Riding Nvidia&#8217;s Rally</h2>
<ul class="wp-block-list">
<li>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>): One of the most popular chip-exposure plays, SMH features Nvidia as its leading holding, at more than 21% of the fund. If you&#8217;re looking for a diversified semi-basket that continues to benefit from Nvidia&#8217;s AI dominance, this is a favorite selection. SMH is up more than 2% on Tuesday, tracking Nvidia&#8217;s action.</li>
</ul>
<ul class="wp-block-list">
<li>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>): Another heavyweight, SOXX provides more diversified exposure among chipmakers, but Nvidia still looms large (at about 8%). It&#8217;s the go-to choice for long-term investors seeking to capitalize on AI and next-gen tech themes without putting it all on a single name. The fund price gained around 1.5% on Tuesday.</li>
</ul>
<ul class="wp-block-list">
<li>Global X Robotics &amp; Artificial Intelligence ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOTZ#NASDAQ">BOTZ</a>): Although not a true semiconductor fund, BOTZ rides the broader AI mania that Nvidia fuels. The fund owns Nvidia and other firms constructing the AI infrastructure—consider automation, robotics, and machine learning infrastructure.</li>
</ul>
<ul class="wp-block-list">
<li>Direxion Daily NVDA Bull 1.5x Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NASDAQ">NVDU</a>) and GraniteShares 1.5x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>): For those who want to supercharge Nvidia&#8217;s daily moves, they can provide turbocharged exposure. Obviously, they are up almost 9% today, mirroring Nvidia&#8217;s gains by two. Warning: They are designed for short-term trading, not long-term investment.</li>
</ul>
<h2 class="wp-block-heading">Why China Matters</h2>
Nvidia&#8217;s H20 chip was specifically tailored to meet U.S. export controls, but it was still affected by an April embargo that compelled the company to take a $5.5 billion write-down in inventory. Now that CEO Jensen Huang has returned to Beijing and China relaxes its approach to technology exports, Nvidia appears to be poised for a significant comeback in one of its most critical markets.
If licenses are approved shortly, according to analysts, Nvidia would be able to regain $15–$20 billion in revenue, money that would be reflected through the aforementioned ETFs.
Whether you&#8217;re buying into Nvidia itself or through ETFs, today&#8217;s rally demonstrates how international politics, AI demand, and chip supply chains are all coming together in one of the market&#8217;s largest names. For those invested in ETFs, the message is straightforward: where Nvidia goes, funds follow.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46413630/chinese-stocks-see-broad-rally-as-us-eases-chip-curbs">Chinese Stocks See Broad Rally As US Eases Chip Curbs</a></li>
</ul>
Photo: Shutterstock

BOTZ

NVDL

NVDU

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Nvidia's China Chip Deal Signals New Tailwind For Chip And AI ETFs

Jim Cramer's shouting "HUGE" for a reason &#8211; Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) just scored a major geopolitical win. After a months-long U.S. export ban, the <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump administration</a> has greenlit shipments of Nvidia's H20 AI chips to China, setting off a Wall Street celebration. Nvidia stock surged 4.47% pre-market to $171.40, and analysts are already eyeing $180 as the next stop.
Back in April, the H20 ban cost Nvidia $4.5 billion in stranded inventory and up to $15 billion in lost China sales. But CEO Jensen Huang's diplomatic maneuvering &#8211; including talks with U.S. and Chinese officials &#8211; flipped the script. Now, Chinese giants like TikTok parent ByteDance, Tencent Holdings ADR (OTCPK:TCEHY) and Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#NYSE">BABAF</a>) are scrambling to lock in orders.
Read Also: <a href="https://www.benzinga.com/markets/equities/25/07/46408209/jim-cramer-says-nvidia-getting-trump-approval-for-h20-sales-to-china-is-so-huge-could-turn-the-nasdaq-futures-around">Jim Cramer Says Nvidia Getting Trump Approval For H20 Sales To China Is &#8216;So Huge, Could Turn The Nasdaq Futures Around&#8217;</a>
<h2 class="wp-block-heading">$15 Billion Back In Play</h2>
The H20 chip was custom-built for China's AI market under tighter U.S. export controls. With this green light, Nvidia stands to regain its 13% share of China revenue, and possibly more. The chip powers large language models and enterprise AI applications—exactly the kind of tech Beijing is racing to scale.
At the same time, Nvidia is doubling down with its new RTX Pro GPU, built on its Blackwell architecture and aimed at China's industrial AI boom, from factories to logistics. With both consumer and enterprise demand rebounding, the H20 approval may be the catalyst to reaccelerate Nvidia's revenue machine in Asia.
<h2 class="wp-block-heading">Cramer: "Own It, Don't Trade It"</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nvidia assured by our government that it can sell H-20s to China. Deliveries to be made soon! HUGE!!! Nvidia&#8211;own it don&#39;t trade it!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1944935337572061202?ref_src=twsrc%5Etfw">July 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cramer is putting his stamp on the rally, urging investors to hold Nvidia long-term: "Own it, don't trade it," he posted, echoing his full-throated support for the stock's post-ban upside. His "HUGE!!!" endorsement underscores just how pivotal this policy reversal could be for Nvidia's near-term growth and long-term dominance.
But the risks haven't vanished. Tensions between Washington and Beijing remain fragile, and the new approval comes with per-shipment licensing conditions, meaning regulatory whiplash is still on the table.
For now, though, Nvidia's back in the China game—and Wall Street's buying the comeback.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46409079/nvidia-growth-estimates-get-10-boost-as-us-lifts-china-chip-export-curbs-gene-munster-predicts-30-35-growth-for-2026">Nvidia Growth Estimates Get 10% Boost As US Lifts China Chip Export Curbs: Gene Munster Predicts 30-35% Growth For 2026</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Trading Ideas

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

Nvidia's H20 China Play: Cramer's 'HUGE' Call Ignites A $15 Billion AI Bonanza

<a target="_blank" href="https://www.benzinga.com/topic/cloud-computing" rel="noreferrer noopener">China&#8217;s cloud infrastructure spending</a> surged by 16% year-over-year to $11.6 billion in the first quarter of 2025, primarily fueled by the accelerating adoption of enterprise artificial intelligence (AI) nationwide.
This growth highlights cloud services&#8217; critical role in supporting China&#8217;s expanding AI capabilities, despite ongoing U.S. chip export restrictions.
The market is projected to continue its upward trajectory, with total cloud spending in China expected to climb from $40 billion in 2024 to $46 billion in 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46314590/alibaba-predicts-ai-digital-colleagues-will-be-commonplace-within-five-years" rel="noreferrer noopener">Alibaba Predicts AI Digital Colleagues Will Be Commonplace Within Five Years</a>
Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) Cloud led the market with a 33% share and 15% revenue growth. Huawei Cloud followed it at 18% share and 18% growth, and Tencent (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) Cloud at 10% share, which was reportedly limited by GPU supply issues, according to SCMP, <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3317760/chinas-cloud-services-spending-hits-us116-billion-first-quarter-ai-related-demand" rel="noreferrer noopener">citing</a> Canalys.
Partner-driven cloud revenue made up 25% of the market in the first quarter, with that share expected to grow as ecosystem collaboration turns AI capabilities into business value, according to Canalys.&nbsp;
Alibaba Cloud is experiencing rapid growth, particularly in its <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46250853/alibabas-ai-and-cloud-moves-have-sparked-28-stock-rebound" rel="noreferrer noopener">AI-driven products</a>, as its Qwen AI model family gains momentum.
Notably, Alibaba&#8217;s Damo Academy and Zhejiang Cancer Hospital jointly developed &#8220;Grape&#8221; in June, an AI model that detects early-stage gastric cancer from 3D CT scans, outperforming radiologists, as reported in Nature Medicine. This builds on Alibaba&#8217;s 2023 pancreatic cancer breakthrough, further integrating AI into healthcare.
The company is also expanding its global cloud footprint, launching new data centers in Malaysia, South Korea, and the Philippines. By 2025, Alibaba plans to roll out its Qwen models, Model Studio, and a global AI hub in Singapore, aiming to scale its cloud network across China, Asia, the Middle East, Europe, and the Americas over the next three years. 
This expansion is part of Alibaba&#8217;s &#8220;AI+Cloud&#8221; strategy, backed by a significant $53 billion investment plan to enhance cloud and AI infrastructure over the same period.
To deepen its AI expansion, Alibaba recently partnered with smartphone maker HONOR, marking the first direct integration of its AI agents into mobile devices. Unveiled during the HONOR Magic V5 launch on July 2, this collaboration brings Alibaba&#8217;s Qwen3 large language model (LLM) and Qwen-VL vision model to power HONOR&#8217;s YOYO assistant.
This enables advanced features like document analysis, role-play simulations, and real-time visual recognition, as Alizila <a target="_blank" href="https://www.alizila.com/alibaba-and-honor-deepen-ai-partnership-with-launch-of-new-smartphone/" rel="noreferrer noopener">reported</a> on Friday. Furthermore, specialized AI agents from Alibaba&#8217;s Fliggy and Amap now offer voice-enabled trip planning, navigation, and lifestyle recommendations within HONOR&#8217;s ecosystem.
Earlier in June, Alibaba <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46250853/alibabas-ai-and-cloud-moves-have-sparked-28-stock-rebound" rel="noreferrer noopener">launched updated</a> Qwen3 AI models to assist Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in integrating machine-learning features into iPhones, iPads, and MacBooks in China. This supports Apple&#8217;s efforts to expand its &#8220;Apple Intelligence&#8221; offerings in the country while adhering to China&#8217;s AI regulations.
Preliminary Counterpoint Research data indicates that <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46246152/iphone-sales-bounce-back-in-china-but-huawei-and-xiaomi-intensify-pressure" rel="noreferrer noopener">China&#8217;s smartphone market</a> is poised for a rebound in the second quarter of 2025, with Huawei and Apple leading in year-over-year sales growth.
Huawei is expected to post the strongest growth among major brands, potentially claiming the top spot as loyal users upgrade to new models. Apple saw a sales boost in May, driven by iPhone 16 series discounts, especially on the Pro and Pro Max models.
Analysts attribute this second-quarter growth partly to government smartphone subsidies but caution about potential risks if these subsidies are reduced later in the year.
Alibaba stock has surged 26% year-to-date, fueled by AI-driven cloud growth, e-commerce strength, and the phasing out of non-core assets.
Price Action: BABA shares are trading higher by 0.29% to $106.96 premarket at last check Friday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46342110/amazon-unveils-powerful-new-ai-servers-to-support-nvidias-most-advanced-chips" target="_blank" rel="noreferrer noopener">Amazon Unveils Powerful New AI Servers To Support Nvidia&#8217;s Most Advanced Chips</a></li>
</ul>
Photo via Shutterstock

Alibaba, Huawei Dominate China's Growing Cloud Market

Two Chinese artificial intelligence chip startups, Moore Threads and MetaX, are planning to raise a combined 12 billion yuan ($1.65 billion) through initial public offerings (IPOs). 
What Happened: The two companies are betting on the U.S. export restrictions to boost the demand for their products in China, Reuters reported. 
Moore Threads, based in Beijing, aims to raise 8 billion yuan, while MetaX, based in Shanghai, is looking to raise 3.9 billion yuan. Both companies are planning to list on the STAR Market, the tech-focused board of the Shanghai Stock Exchange
These fundraising plans highlight the increasing efforts of Chinese chipmakers to capitalize on Beijing&#8217;s drive to develop domestic champions in graphics processing units (GPUs), which are crucial for AI development.
See Also: <a href="https://benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs Once Spent Two Weeks Choosing A Washing Machine For His Palo Alto Home And He Got More &#8216;Thrill&#8217; Out Of It Than Any Piece Of High Tech In Ages &#8211; Benzinga</a>
The U.S. has been tightening export restrictions on China, with the latest rules implemented in April banning the shipment of Nvidia&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H20 chips, one of its most popular chips, to China. These restrictions have led to a sense of urgency in Beijing to develop domestic chip champions.
Both Moore Threads and MetaX have cited U.S. sanctions as a major risk to their development, but have also emphasized that the restrictions could create significant market opportunities. The two companies design GPUs to compete with Nvidia products and have reported significant losses over the last three years, largely attributed to heavy research and development spending.
Why It Matters: The move by Moore Threads and MetaX to go public amid U.S. export sanctions is part of a larger trend of Chinese companies seeking to <a href="https://www.benzinga.com/markets/equities/25/03/44350873/nvidia-faces-new-ai-challenge-as-chinese-start-up-unveils-framework-to-cut-reliance-on-its-gpus">reduce their reliance</a> on foreign chipmakers. In May, Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), and Tencent (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) began switching to <a href="https://www.benzinga.com/markets/asia/25/05/45692725/alibaba-and-baidu-turn-to-chinese-ai-chips-as-us-sanctions-squeeze-nvidia-supply">homegrown chips</a> as U.S. export controls and a dwindling stockpile of Nvidia processors eroded their ambitions. 
The move also aligns with China&#8217;s broader push for <a href="https://www.benzinga.com/government/regulations/25/05/45298562/chipmakers-enter-bullish-seasonal-window-5-stocks-that-could-outperform">self-sufficiency in chips</a>, with major Chinese automakers aiming for 100% domestic chip supply by 2027. This push is being <a href="https://www.benzinga.com/markets/equities/25/06/45966176/after-nvidia-pauses-china-outlook-top-chinese-automakers-race-to-ditch-foreign-chips-aim-for-100-domestic-supply-by-2027-report">shepherded</a> by China&#8217;s Ministry of Industry and Information Technology, which regularly requires self-assessments of domestic chip adoption rates.
Read Next: <a href="https://benzinga.com/markets/tech/25/06/46186013/mark-zuckerberg-once-predicted-that-this-technology-would-replace-your-phone-a-decade-later-how-far-">Mark Zuckerberg Once Predicted That This Technology Would Replace Your Phone — A Decade Later, How Far Is Meta From Delivering On A &#8216;More Natural&#8217; Future</a>
Photo: Maxx-Studio On Shutterstock

Nvidia's Chinese Rivals Look To Cash In On US Tech Ban: Moore Threads, MetaX Plot $1.65 Billion IPO

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: 
<ul class="wp-block-list">
<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

New ETFs

INDA

TGLB

TIER

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: 
<ul class="wp-block-list">
<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

Entertainment

Gaming

NFLX

Sony Group Corporation American Depositary Shares

SONY

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: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/06/46017426/trump-gives-iran-2-weeks-to-strike-a-deal-or-face-us-military-action">Trump Gives Iran 2 Weeks To Strike A Deal Or Face US Military Action</a></li>
</ul>
Photo: Shutterstock

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.
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</ul>
Photo by PeopleImages.com Yuri A via Shutterstock

Equities

General

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.
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</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

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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</ul>
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

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.
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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>
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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.

GOOG

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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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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Photo courtesy: Michael Vi / Shutterstock.com

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