1. IBM Withdraws from China: IBM is reportedly closing its China R&D department, moving operations overseas as U.S. companies face increased scrutiny from Beijing. The move affects over 1,000 employees and marks another major U.S. company pulling back from China.
2. Nvidia's Q2 Results Anticipation: Nvidia shares are slightly up ahead of their second-quarter earnings release on Wednesday. Investors are focused on growth in the data center segment and updates on the next-generation Blackwell chips.
3. Uber Fined $324M by Dutch Regulator: Uber has been fined 290 million euros by the Dutch privacy watchdog for transferring driver data to the U.S. without proper safeguards, violating GDPR. Uber plans to appeal the decision.
4. PDD Holdings Stock Drops: Shares of PDD Holdings, parent company of Temu, are down 15% after reporting lower-than-expected Q2 revenue. The company faces challenges in a sluggish Chinese economy, impacting rivals like Alibaba as well.
5. XPeng's CEO Increases Stake: XPeng shares are up 4% after CEO Xiaopeng He purchased over 2 million of the company’s shares, signaling confidence in the Chinese EV maker’s future.
2. Nvidia's Q2 Results Anticipation: Nvidia shares are slightly up ahead of their second-quarter earnings release on Wednesday. Investors are focused on growth in the data center segment and updates on the next-generation Blackwell chips.
3. Uber Fined $324M by Dutch Regulator: Uber has been fined 290 million euros by the Dutch privacy watchdog for transferring driver data to the U.S. without proper safeguards, violating GDPR. Uber plans to appeal the decision.
4. PDD Holdings Stock Drops: Shares of PDD Holdings, parent company of Temu, are down 15% after reporting lower-than-expected Q2 revenue. The company faces challenges in a sluggish Chinese economy, impacting rivals like Alibaba as well.
5. XPeng's CEO Increases Stake: XPeng shares are up 4% after CEO Xiaopeng He purchased over 2 million of the company’s shares, signaling confidence in the Chinese EV maker’s future.