Here are 5 important things happening in tech around the world today.
Shein Global Holdings Ltd. is on track to raise about HK$13.6 billion (R27.96 billion) in its Hong Kong initial public offering.
That would value the fast-fashion retailer at just above $26 billion, compared with a roughly $100 billion price tag it commanded four years ago.
US equity-index futures advanced as Nvidia’s bullish sales outlook reinforced optimism that this year’s artificial intelligence rally has further to run.
Treasuries edged lower as traders slightly increased bets on interest-rate hikes. Futures for the Nasdaq 100 Index climbed 0.9% after Nvidia signalled strong sales growth through 2028.
The company’s shares rallied 4.7% in extended trading, helping lift other AI stocks, including Marvell Technology and Sandisk. European stock futures also ticked higher.
MSCI’s gauge of Asia Pacific shares climbed 0.2%, with semiconductor makers SK Hynix and Samsung Electronics the biggest contributors. The Kospi Index, a bellwether for AI investments, advanced 1.3%.
Caution lingered in bond markets as traders added to bets on Federal Reserve rate hikes this year after a key US inflation gauge remained above the central bank’s target.
Treasuries slipped across the curve, with yields on rate-sensitive two-year notes climbing one basis point to 4.22%, as money markets fully priced in a rate increase by December.
Nvidia’s outlook offered fresh evidence that spending on AI infrastructure remains robust, easing concerns over the durability of the investment boom.
Still, investors are closely watching whether inflation stays elevated and will forces the Fed to raise rates to keep price pressures in check, a risk that could temper enthusiasm for technology stocks.
The “results provide further support for my bullish outlook on the AI investment theme and the broader technology sector,” said Ivan Feinseth, chief investment officer and director of research at Tigress Financial.
“The AI infrastructure cycle remains in an early-to-middle stage rather than nearing a peak.”
Nvidia expects to grow revenue by approximately 70% in fiscal 2028, chief financial officer Colette Kress said during a post-earnings conference call.
Analysts have projected an increase of about 45% for that year, according to data compiled by Bloomberg.
Still, investors such as Naoki Fujiwara, a senior fund manager at Shinkin Asset Management, said rising memory prices could put some pressure on margins.
In cryptocurrencies, Bitcoin rose 0.3% to $78,661.46 and Ether rose 0.5% to $2,484.75. [Bloomberg]
Shein to raise R28 billion in Hong Kong IPO: Shein is on track to raise about HK$13.6 billion (R27.96 billion) in its Hong Kong initial public offering as it nears the end of an arduous journey to go public. The company is telling prospective investors it is likely to price the IPO at about HK$48.56 per share, just above the midpoint of the marketed range. [Bloomberg]
Microsoft tests new privacy controls in Windows 11: Windows Insiders can now manage camera, microphone, and location permissions for individual desktop apps in Windows 11 Experimental Preview Build 26340.9233. Previously, access for traditional desktop applications was managed through a single device-wide setting. [Microsoft]
Android getting per-app memory limits amid chip crunch: Google said that Android 17 will soon enforce per-app memory limits. These will first launch on Pixel devices, but will also be adopted by other manufacturers. Applications that exceed these limits will be slowed down and may be terminated, Google said. [9to5Google]
OpenAI publishes full report of Hugging Face hacking incident: OpenAI has published its full report on a recent incident where one of its internal research models attacked the AI research platform Hugging Face. The attack was not a case of a superintelligence gone rogue, but a failure of putting sufficient safeguards in place. It said: “We consider this incident a ‘warning shot’ for us and for the world: evidence that, without proper safeguards, highly capable AI agents are now able to work around technical controls, collaborate through unapproved channels, and take dangerous actions that no human directed.” [Engadget]
Microsoft SharePoint remote code execution vulnerability targeted by hackers: Honeypot specialists at Defused reported seeing attackers probing a chain of two Microsoft SharePoint vulnerabilities that could allow them to execute arbitrary code on unpatched servers. [Bleeping Computer]
