Jensen's wish

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Tech Across the Globe

Alibaba's slump: A protracted battle in China's food-delivery market has chopped $100 billion in market value from Alibaba Group Holding Ltd., with no end in sight for damage to profits and investor confidence.

Changing partners: Google struck a deal to acquire top talent and licensing rights from Windsurf, following the collapse of OpenAI's agreement to buy the AI coding startup.

Shein's IPO: Shein has confidentially filed for a Hong Kong listing, people familiar with the matter said. Considerations are ongoing and details such as timing and size remain unclear.

Revalued

Elon Musk's artificial intelligence and social media company xAI is in the early stages of a funding round that could value the business at $200 billion. The company just finished raising $10 billion and now is moving to raise another $10 billion. Musk, in a social media post, said Tesla will also poll its shareholders about investing in xAI.

Must Read

Nvidia's Jensen Huang is heading to China this week, attending a big supply chain expo in Beijing and meeting with senior officials. Ahead of the trip, he made public comments about his desire to see the US tech stack be promoted like the US dollar, which is now the world's reserve currency and instrumental to global trade. Ed Ludlow addresses the limits of his analogy in today's Tech In Depth essay.

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Bloomberg Tech: Europe

Bloomberg's Tom Mackenzie traveled to Walldorf, Germany, to speak to SAP CEO Christian Klein in an exclusive interview for Bloomberg Tech: Europe that includes a discussion of the challenges facing Europe in the race for AI.