Mike Isaac / New York Times:
How Meta open sourcing its Llama models helped make Mark Zuckerberg popular again in Silicon Valley, reversing developer skepticism; Llama 2 has 180M+ downloads — After some trying years during which Mr. Zuckerberg could do little right, many developers and technologists have embraced …
Sensor Tower: Tencent’s Dungeon & Fighter Mobile generated $140M+ in player spending in its first week in China, and 2.6M iOS users downloaded the game in China (Zheping Huang/Bloomberg)
Zheping Huang / Bloomberg:
Sensor Tower: Tencent’s Dungeon & Fighter Mobile generated $140M+ in player spending in its first week in China, and 2.6M iOS users downloaded the game in China — – ‘DnF Mobile’ topped download and sales charts in China — Annual revenue could surpass $1 billion, Niko estimates
Didi reports Q1 revenue up 15% YoY to ~$6.8B and a ~$190M net loss, in part due to higher sales and marketing costs, as well as higher driver fees (Bloomberg)
Bloomberg:
Didi reports Q1 revenue up 15% YoY to ~$6.8B and a ~$190M net loss, in part due to higher sales and marketing costs, as well as higher driver fees — – Sales at Chinese ride-hailing firm jumped 15% on demand surge — Didi seeks to rebuild operations prior to next IPO push
Brazilian digital bank Nubank hits a $58.2B market cap, surpassing Itau, previously the most valuable financial institution in Latin America, at ~$56B (Bloomberg)
Bloomberg:
Brazilian digital bank Nubank hits a $58.2B market cap, surpassing Itau, previously the most valuable financial institution in Latin America, at ~$56B — – Digital lender worth $58.2 billion as earnings fuel rally — Nubank is one of ‘most attractive’ EM stocks, Vontobel says
EU Agency for Cybersecurity head Juhan Lepassaar says disruptive digital attacks, many tied to Russia-backed groups, have doubled in the EU in recent months (Derek Gatopoulos/Associated Press)
Derek Gatopoulos / Associated Press:
EU Agency for Cybersecurity head Juhan Lepassaar says disruptive digital attacks, many tied to Russia-backed groups, have doubled in the EU in recent months — Disruptive digital attacks, many of which have been traced to Russia-backed groups, have doubled in the European Union in recent months …
PwC plans to roll out ChatGPT Enterprise to its 75K US staff and 26K UK staff, becoming the largest customer and first reseller of OpenAI’s enterprise product (Belle Lin/Wall Street Journal)
Belle Lin / Wall Street Journal:
PwC plans to roll out ChatGPT Enterprise to its 75K US staff and 26K UK staff, becoming the largest customer and first reseller of OpenAI’s enterprise product — The Big Four accounting firm signs a new license and sales deal as the maker of ChatGPT ramps up its enterprise sales efforts
Analysis: food delivery apps Deliveroo, Just Eat Takeaway, Delivery Hero, and DoorDash have racked up $20.3B in combined operating losses since they went public (Financial Times)
Financial Times:
Analysis: food delivery apps Deliveroo, Just Eat Takeaway, Delivery Hero, and DoorDash have racked up $20.3B in combined operating losses since they went public — DoorDash, Deliveroo, Delivery Hero and Just Eat Takeaway put new focus on profits, despite slower growth following the pandemic
How Shein, which filed for a US IPO in November 2023, became stuck in US-China tensions; Shein, founded in 2012 in China, has never sold products in the country (Shen Lu/Wall Street Journal)
Shen Lu / Wall Street Journal:
How Shein, which filed for a US IPO in November 2023, became stuck in US-China tensions; Shein, founded in 2012 in China, has never sold products in the country — The fast-fashion giant aimed to bridge the divide between Beijing and Washington, but hopes for a splashy U.S. public offering have faded
Analysis: Temu and Pinduoduo parent PDD, whose shares are up 109% over the past year, has a ~$208B market cap, compared with Alibaba’s $196B and JD.com’s $48B (Sheila Chiang/CNBC)
Sheila Chiang / CNBC:
Analysis: Temu and Pinduoduo parent PDD, whose shares are up 109% over the past year, has a ~$208B market cap, compared with Alibaba’s $196B and JD.com’s $48B — PDD’s value-for-money positioning and growth of its Temu marketplace has helped the tech giant lead China’s e-commerce arena …
Malaysia plans to allocate at least ~$5.33B over the next 5-10 years under its new National Semiconductor Strategy, which aims to train 60,000 chip engineers (Norman Goh/Nikkei Asia)
Norman Goh / Nikkei Asia:
Malaysia plans to allocate at least ~$5.33B over the next 5-10 years under its new National Semiconductor Strategy, which aims to train 60,000 chip engineers — Government to allocate $5.3bn in new National Semiconductor Strategy — Malaysian Prime Minister Anwar Ibrahim speaks at a semiconductor event in Kuala Lumpur on May 28.
