Plus: Nvidia invests $500 million in glassmaker Corning to boost AI infrastructure. And Uber reports higher revenue from growing trip volume and active users. Iman Moise hosts.
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[00:00:16] [SPEAKER_00] Here's your morning TNB Tech Minute for Wednesday, May 6th. I'm Imani Moise for The Wall Street Journal. DeepSeek is raising money from investors backed by the Chinese government, aligning the AI startup with Beijing's push for technological self-sufficiency. People familiar with the matter say prospective investors have valued the company at around $50 billion in recent talks. In previous discussions, DeepSeek's valuation was between $10 and $30 billion.
[00:00:42] [SPEAKER_00] The AI lab has become a key component of China's plan to have top-class homegrown tech companies. Beijing views this plan as a way to hedge against U.S. export controls and take leadership in bringing AI to the world. NVIDIA is investing $500 million in glassmaker Corning to expand fiber optics manufacturing for AI infrastructure.
[00:01:03] [SPEAKER_00] Through the partnership, Corning will boost its U.S.-based optical connectivity manufacturing capacity by 10 times and expand its fiber production capacity by more than 50%. As part of the deal, Corning will build three new manufacturing facilities in North Carolina and Texas. The company has seen surging profit from the race to build more data centers, which has accelerated demand for fiber optic materials that can quickly transfer massive amounts of data.
[00:01:30] [SPEAKER_00] And Uber reported higher revenue this morning as trip volume jumped 20% from a year earlier. The ride-hailing app also attracted more users, with monthly active platform customers increasing 17%. Uber's CEO said growth during the most recent quarter was balanced across both Uber's mobility and delivery businesses. He also noted early signs of improvement in its freight arm, which returned to growth for the first time in nearly two years.
[00:01:56] [SPEAKER_00] And that's your TNB Tech Minute. We'll be back this afternoon with more.
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