A UK start-up that designs semiconductors used for artificial intelligence applications has raised $200-million from investors including BMW and Microsoft.
Is the rout ripping through technology stocks just another garden variety correction? In the long sweep of history, yes. But compared only to selloffs since the bull market began, it’s starting to get extreme.
Huawei has overtaken Apple in smartphones. Now it wants to take on some of America’s largest technology companies in semiconductors.
Asian technology stocks joined their peers in a global swoon after a disappointing sales outlook from Taiwan Semiconductor Manufacturing, Apple’s main chip supplier, rekindled concerns that the smartphone