ByteDance in talks to buy AI chips from Iluvatar CoreX

ByteDance is in talks with Shanghai-based Iluvatar CoreX to purchase AI chips for inference work, potentially making Iluvatar CoreX ByteDance's third major domestic supplier of graphics processing units (GPUs) after Huawei and Cambricon. This deal and a potential similar deal with Baidu show that Chinese chipmakers are gaining traction in offering alternatives to foreign AI chips.

Iluvatar CoreX expects to ship at least 50,000 chips to ByteDance this year. This development is significant as it highlights the growing capabilities of Chinese chipmakers in the AI space.

In other news, several major tech companies are making significant advancements in AI. Tradeweb launched TARA, an AI-powered research assistant for institutional credit trading, enabling users to query trading activity, market flows, and execution performance using natural language models.

BetaNXT partnered with DeepSee to launch RetainX, an AI-driven retention solution that combines wealth management data with AI operations to help firms address client and adviser attrition risk. Janus Henderson also partnered with Percepta to build AI tools for investors and clients.

The tech-heavy Nasdaq composite experienced volatility amid AI bubble concerns, with a 4.7% drop on June 5 followed by a quick rebound. Key players like Alphabet, Nvidia, and Marvell Technology saw significant gains, highlighting the ongoing impact of AI on tech stocks.

New York's IT office partnered with AWS for cloud and AI services, aiming to alleviate procurement hurdles and speed up innovation efforts while saving taxpayers $58 million. Microsoft faced a lawsuit from shareholders over expenses and cloud business, specifically regarding Azure growth and AI-related spending.

CrowdStrike introduced Continuous Identity for AI agents, which continuously evaluates identity, device, threat, and business context to determine access for AI agents. Lenovo partnered with FIFA for the 2026 World Cup, delivering AI-powered broadcast infrastructure and immersive fan experiences.

Key Takeaways

ByteDance in talks with Iluvatar CoreX to buy AI chips for inference workloads.
Iluvatar CoreX expects to ship at least 50,000 chips to ByteDance this year.
Tradeweb launches TARA, an AI-powered research assistant for institutional credit trading.
BetaNXT and DeepSee launch RetainX, an AI-driven retention solution for wealth management.
Tech stocks experience volatility amid AI bubble concerns.
New York's IT office partners with AWS for cloud and AI services, expected to save $58 million.
Microsoft sued by shareholders over Azure growth and AI-related spending.
CrowdStrike introduces Continuous Identity for AI agents.
Lenovo partners with FIFA for the 2026 World Cup, delivering AI-powered solutions.
Meta Platforms is one of the 6 cheap stocks to buy according to Bill Ackman.

ByteDance in talks to buy AI chips from China's Iluvatar CoreX

ByteDance is in talks with Shanghai-based Iluvatar CoreX to purchase AI chips for inference work. This deal would make Iluvatar CoreX ByteDance's third major domestic supplier of graphics processing units (GPUs) after Huawei and Cambricon. ByteDance is also considering a similar deal with Baidu. The potential deals show that Chinese chipmakers are gaining traction in offering alternatives to foreign AI chips.

ByteDance talks with Iluvatar CoreX for AI chip purchase

ByteDance is in talks with Iluvatar CoreX to buy AI chips for inference workloads. A deal would make Iluvatar CoreX ByteDance's third major GPU supplier after Huawei and Cambricon. ByteDance is also considering Baidu's Kunlunxin chips. Iluvatar CoreX expects to ship at least 50,000 chips to ByteDance this year.

Wealth firms get AI-powered retention tool

BetaNXT partnered with DeepSee to launch RetainX, an AI-driven retention solution. The tool combines wealth management data with AI operations to help firms address client and adviser attrition risk. Janus Henderson also partnered with Percepta to build AI tools for investors and clients.

Tradeweb launches AI research assistant

Tradeweb launched TARA, an AI-powered research assistant for institutional credit trading. TARA enables users to query trading activity, market flows, and execution performance using natural language models. The platform is designed to support clients trading global credit and government bonds.

Tech stocks volatile amid AI bubble concerns

The tech-heavy Nasdaq composite tanked 4.7% on June 5 after a strong jobs report sparked concerns about an AI bubble. However, tech stocks rebounded quickly, with Alphabet, Nvidia, and Marvell Technology seeing significant gains. The volatility of AI and tech stocks is a concern for investors.

X2m Connect expands AI smart city products

X2M Connect is expanding its AI smart city products in South Korea. The company aims to provide innovative solutions for urban development.

New York's IT office partners with AWS

The New York State IT office partnered with AWS for cloud and AI services. The deal aims to alleviate procurement hurdles and speed up innovation efforts. The partnership is expected to save taxpayers $58 million.

Microsoft sued over expenses and cloud business

Microsoft was sued by shareholders over expenses and cloud business. The lawsuit claims that Microsoft misled investors about its Azure growth and AI-related spending.

CrowdStrike introduces Continuous Identity for AI agents

CrowdStrike announced Continuous Identity for AI agents, which continuously evaluates identity, device, threat, and business context to determine access for AI agents.

Lenovo's FIFA World Cup deal showcases AI ambitions

Lenovo partnered with FIFA for the 2026 World Cup and will deliver AI-powered broadcast infrastructure and immersive fan experiences.

Meta Platforms is an AI stock in Bill Ackman's portfolio

Meta Platforms is one of the 6 cheap stocks to buy according to Bill Ackman. The company's shares have been under pressure but have shown signs of stability.