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Foreign Automakers Turn to Chinese Tech in Reverse Joint Ventures

Key Points: Foreign car brands now use Chinese electric vehicle platforms and software to build their new models. Volkswagen and XPeng built the new China Electronic Architecture software system in just 18 months. Analysts describe the rapid technological leap of Chinese automakers during the pandemic as interstellar traveling. Global automakers plan to export these new China-developed vehicles to markets in Europe, South America, and Asia....

Memory Stocks Surge as AI Demand Forces Long-Term Supply Deals

Key Points: Micron and SanDisk shares jumped again on Monday as analysts predict strong demand for artificial intelligence memory through the decade. Micron stock climbed 5.6%, pushing its overall market cap near $600 billion, while Sandisk gained 8.1%. Consumers face a 17% increase in personal computer prices this year as basic memory components become scarce. Major technology buyers now sign three to five-year supply contracts...

Qualcomm Stock Surges 13% as OpenAI Smartphone Rumors Emerge

Key Points: Qualcomm shares jumped 13% following reports of a new partnership with OpenAI to build a smartphone processor. Tech analyst Ming-Chi Kuo expects the artificial intelligence device to enter mass production by 2028. OpenAI purchased Jony Ive's hardware startup for $6.5 billion last May to lead the design efforts. Apple and Samsung currently control about 40% of the global smartphone market and present stiff...