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| Temu's challenges: PDD Holdings, the Chinese owner of e-commerce site Temu, grew at a slower-than-expected pace in the face of greater domestic competition and concerns over the effects of US tariffs. Chip deal: SoftBank agreed to purchase chip designer Ampere Computing for $6.5 billion in a move that broadens the Japanese investment firm's push into AI infrastructure. Ampere, backed by Oracle and private equity group Carlyle Group, makes processors for data center equipment. Apple's streaming hit: Severance, the workplace sci-fi thriller that ended its second season Thursday, has drawn a surge of subscribers to Apple TV+. The company has struggled to attract customers to its streaming service despite producing popular shows like Ted Lasso. | |
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| Perplexity AI, a startup building an AI search engine to compete with Google, is in talks for a funding round of as much as $1 billion that would double its valuation to $18 billion. The company, founded in 2022, was valued at $9 billion just three months ago when it raised $500 million. | |
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| In today's Tech In Depth, Ian King reports that Nvidia Chief Executive Officer Jensen Huang didn't spend a lot of time touting the company's latest AI chips at its development conference. Instead, Huang tried to convince tech industry leaders — an executives across the economy — that they need to keep spending or fall behind as AI becomes more and more useful. For more of Bloomberg's coverage of the tech industry, subscribe here. | |
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| In this week's Q&AI, Shirin Ghaffary interviews Perplexity AI CEO Aravind Srinivas about the startup's efforts to take on Google. For more of Shirin's reporting on AI, subscribe here. | |
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