Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced Q2 results for fiscal year 2024/25, reporting significant increases and growth in net income, year-on-year revenue growth for the 4th consecutive quarter, and strong double-digit year-on-year revenue increases from all its business groups. Group revenue increased 24% year-on-year to US$17.9 billion. Net income was up 48% year-on-year to US$404 million on a non-Hong Kong Financial Reporting Standards (non-HKFRS)[1] basis, and non-PC revenue mix was up five points year-to-year to 46%. The Group's results reflect its clear strategy, operational excellence, investment in R&D, innovations in hybrid AI, and global footprint.

The Group's hybrid AI strategy and years of continuous investment in R&D and innovations are paying off, with its first phase of AI PCs, launched in China in May 2024, already reaching double digit share of its total notebook shipments in the China market. Recent launches of AI PCs for the global market with Lenovo AI Now have also been received positively. For enterprise AI, the Group is leveraging its full-stack hybrid infrastructure as well as Lenovo Hybrid AI Advantage to capture growth opportunities. This relentless focus on AI innovation as well as investment in R&D (up 10% year-on-year to US$548 million) is firmly establishing the Group's market differentiation and industry leadership.

LG Display, the world's leading innovator of display technologies, announced today its unveiling of the world's first Stretchable display capable of expanding up to 50%, the highest rate of elongation in the industry. At LG Science Park in Seoul on Nov. 8, the company demonstrated the panel at a meeting of more than 100 South Korean industry, academia, and research stakeholders involved in a Stretchable display national project.

Stretchable displays are seen as the ultimate free-form screen technology because they can be freely transformed into any shape, including by stretching, folding, and twisting.

Today, the Department of Commerce and Natcast, the operator of the National Semiconductor Technology Center (NSTC), announced the expected location for the first CHIPS for America research and development (R&D) flagship facility. The CHIPS for America Extreme Ultraviolet (EUV) Accelerator, an NSTC facility (EUV Accelerator), is expected to operate within NY CREATES' Albany NanoTech Complex in Albany, New York, supported by a proposed federal investment of an estimated $825 million. The EUV Accelerator will focus on advancing state of the art EUV technology and the R&D that relies on it.

As a key part of President Biden's Investing in America agenda, CHIPS for America is driven by the growing need to bolster the U.S. semiconductor supply chain, accelerate U.S. leading-edge R&D, and create good quality jobs around the country. This proposed facility will bring together NSTC members from across the ecosystem to accelerate semiconductor R&D and innovation by providing NSTC members access to technologies, capabilities, and critical resources.

Today, ASML Holding NV (ASML) has published its 2024 third-quarter results.

• Q3 total net sales of €7.5 billion, gross margin of 50.8%, net income of €2.1 billion
• Quarterly net bookings in Q3 of €2.6 billion of which €1.4 billion is EUV
• ASML expects Q4 2024 total net sales between €8.8 billion and €9.2 billion, and a gross margin between 49% and 50%
• ASML expects 2024 total net sales of around €28 billion
• ASML expects 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%

CEO statement and outlook
"Our third-quarter total net sales came in at €7.5 billion, above our guidance, driven by more DUV and Installed Base Management sales. The gross margin came in at 50.8%, within guidance. While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness. Regarding Logic, the competitive foundry dynamics have resulted in a slower ramp of new nodes at certain customers, leading to several fab push outs and resulting changes in litho demand timing, in particular EUV. In Memory, we see limited capacity additions, with the focus still on technology transitions supporting the HBM and DDR5 AI-related demand."

At an industry event in Austin today, Thundercomm announces RUBIK Pi, the first Pi built on Qualcomm SoC platforms for developers. RUBIK Pi is an innovative tool that aims to lower the barriers application development with AI inference, allowing developers to access high-performance, easy-to-deploy AI R&D tools.

The Pi product is a must-have for electronics enthusiasts and developers. It can be seen as a microcomputer, integrating a processor, memory, storage, and various interfaces on a credit card-sized board. Thundercomm, a world-leading IoT product and solution provider, building on its expertise in ICT technologies and developer workflows, launched RUBIK Pi, aiming to create the most user-friendly AI R&D tools.

The Biden-Harris Administration announced today that Intel Corporation has been awarded up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program. The program is designed to expand the trusted manufacturing of leading-edge semiconductors for the U.S. government.

The Secure Enclave program builds on previous projects between Intel and the Department of Defense (DoD) such as Rapid Assured Microelectronics Prototypes - Commercial (RAMP-C) and State-of-the-Art Heterogeneous Integration Prototype (SHIP). As the only American company that both designs and manufactures leading-edge logic chips, Intel will help secure the domestic chip supply chain and collaborate with the DoD to help enhance the resilience of U.S. technological systems by advancing secure, cutting-edge solutions.

Today, AMD (NASDAQ: AMD) opened a new engineering design center in Serbia, with offices in Belgrade and Nis, strengthening its presence in the Balkans region. The new design center will employ highly skilled software engineers focused on the development of software technologies optimized for AMD leadership compute platforms, including the AMD ROCm software stack for AMD Instinct data center accelerators and AMD Radeon graphics cards. The center was established through an agreement with HTEC, a global technology services company.

"Software plays a critical role in unlocking the capabilities of our leadership AMD hardware. Our new design center will be instrumental in enabling both the design and deployment of future generations of AMD Instinct and Radeon accelerators to help make end-to-end AI solutions more accessible to customers around the world," said Andrej Zdravkovic, senior vice president and chief software officer at AMD. "Our investments in Serbia are a testament to the Balkan region's strong engineering talent, and we are excited to collaborate with HTEC, local universities and the vibrant ecosystem in Belgrade and Nis as we deepen our presence in the region over the coming years."

AMD today announced the signing of a definitive agreement to acquire ZT Systems, a leading provider of AI infrastructure for the world's largest hyperscale computing companies. The strategic transaction marks the next major step in AMD's AI strategy to deliver leadership AI training and inferencing solutions based on innovating across silicon, software and systems. ZT Systems' extensive experience designing and optimizing cloud computing solutions will also help cloud and enterprise customers significantly accelerate the deployment of AMD-powered AI infrastructure at scale. AMD has agreed to acquire ZT Systems in a cash and stock transaction valued at $4.9 billion, inclusive of a contingent payment of up to $400 million based on certain post-closing milestones. AMD expects the transaction to be accretive on a non-GAAP basis by the end of 2025.

"Our acquisition of ZT Systems is the next major step in our long-term AI strategy to deliver leadership training and inferencing solutions that can be rapidly deployed at scale across cloud and enterprise customers," said AMD Chair and CEO Dr. Lisa Su. "ZT adds world-class systems design and rack-scale solutions expertise that will significantly strengthen our data center AI systems and customer enablement capabilities. This acquisition also builds on the investments we have made to accelerate our AI hardware and software roadmaps. Combining our high-performance Instinct AI accelerator, EPYC CPU, and networking product portfolios with ZT Systems' industry-leading data center systems expertise will enable AMD to deliver end-to-end data center AI infrastructure at scale with our ecosystem of OEM and ODM partners."

According to the Taiwan Central News Agency AMD is considering opening up an R&D center in Taiwan. AMD is said to have applied with the Ministry of Economic Affairs (MOEA) as part of Taiwan's "A+ global R&D and innovation partnership program" to set up a new R&D facility. The government partnership program covers three types of fields, namely AI, new-generation semiconductors including high-power and high-frequency ICs, and new 5G network structures and it's aiming for both local and international businesses to set up new R&D centers. AMD has yet to announce any plans about the potential R&D center and the MOEA has declined to share any details with local media in Taiwan.

However, an unnamed source with inside knowledge in the matter has revealed that AMD is looking at investing around NT$5 billion (~US$155 million), based on the application. The same source also mentioned that the MOEA has stipulated conditions that AMD has to meet, which among other things involves working with local IC design companies to help further develop Taiwan's IC design industry, working with local companies to produce servers with AI chips and working with local universities to cultivate talent. Furthermore, the MOEA is said to have asked AMD to recruit at least 20 percent of its R&D centre workforce from outside of Taiwan, to avoid competing with local companies for staff. AMD could be making an announcement about the R&D center at Computex, but it's worth keeping in mind that these things take time. Back in 2021, NVIDIA announced that it would set up an R&D center in Taiwan, but with a much bigger budget of NT$24.3 billion plus a government subsidy of a further NT$6.7 billion. NVIDIA has as yet to announce the opening of its Taiwan R&D center.

SK hynix Inc., the world's leading producer of High-Bandwidth Memory (HBM) chips, announced today that it will invest an estimated $3.87 billion in West Lafayette, Indiana to build an advanced packaging fabrication and R&D facility for AI products. The project, the first of its kind in the United States, is expected to drive innovation in the nation's AI supply chain, while bringing more than a thousand new jobs to the region.

The company held an investment agreement ceremony with officials from Indiana State, Purdue University, and the U.S. government at Purdue University in West Lafayette on the 3rd and officially announced the plan. At the event, officials from each party including Governor of Indiana Eric Holcomb, Senator Todd Young, Director of the White House Office of Science and Technology Policy Arati Prabhakar, Assistant Secretary of Commerce Arun Venkataraman, Secretary of Commerce State of Indiana David Rosenberg, Purdue University President Mung Chiang, Chairman of Purdue Research Foundation Mitch Daniels, Mayor of city of West Lafayette Erin Easter, Ambassador of the Republic of Korea to the United States Hyundong Cho, Consul General of the Republic of Korea in Chicago Junghan Kim, SK vice chairman Jeong Joon Yu, SK hynix CEO Kwak Noh-Jung and SK hynix Head of Package & Test Choi Woojin, participated.

Have you ever dreamed of having a real conversation with an NPC in a video game? Not just one gated within a dialogue tree of pre-determined answers, but an actual conversation, conducted through spontaneous action and reaction? Lately, a small R&D team at Ubisoft's Paris studio, in collaboration with Nvidia's Audio2Face application and Inworld's Large Language Model (LLM), have been experimenting with generative AI in an attempt to turn this dream into a reality. Their project, NEO NPC, uses GenAI to prod at the limits of how a player can interact with an NPC without breaking the authenticity of the situation they are in, or the character of the NPC itself.

Considering that word—authenticity—the project has had to be a hugely collaborative effort across artistic and scientific disciplines. Generative AI is a hot topic of conversation in the videogame industry, and Senior Vice President of Production Technology Guillemette Picard is keen to stress that the goal behind all genAI projects at Ubisoft is to bring value to the player; and that means continuing to focus on human creativity behind the scenes. "The way we worked on this project, is always with our players and our developers in mind," says Picard. "With the player in mind, we know that developers and their creativity must still drive our projects. Generative AI is only of value if it has value for them."

Arizona State University (ASU) and Deca Technologies (Deca), a premier provider of advanced wafer- and panel-level packaging technology, today announced a groundbreaking collaboration to create North America's first fan-out wafer-level packaging (FOWLP) research and development center.

The new Center for Advanced Wafer-Level Packaging Applications and Development is set to catalyze innovation in the United States, expanding domestic semiconductor manufacturing capabilities and driving advancements in cutting-edge fields such as artificial intelligence, machine learning, automotive electronics and high-performance computing.

Extropic, a pioneer in physics-based computing, this week emerged from stealth mode and announced the release of its Litepaper, which outlines the company's revolutionary approach to AI acceleration through thermodynamic computing. Founded in 2022 by Guillaume Verdon, Extropic has been developing novel chips and algorithms that leverage the natural properties of out-of-equilibrium thermodynamic systems to perform probabilistic computations for generative AI applications in a highly efficient manner. The Litepaper delves into Extropic's groundbreaking computational paradigm, which aims to address the limitations of current digital hardware in handling the complex probability distributions required for generative AI.

Today's algorithms spend around 25% of their time moving numbers around in memory, limiting the speedup achievable by accelerating specific operations. In contrast, Extropic's chips natively accelerate a broad class of probabilistic algorithms by running them physically as a rapid and energy-efficient, physics-based process in their entirety, unlocking a new regime of AI acceleration well beyond what was previously thought achievable. In coming out of stealth, the company has announced the fabrication of a superconducting prototype processor and developments surrounding room-temperature semiconductor-based devices for the broader market, with the goal of revolutionizing the field of AI acceleration and enabling new possibilities in generative AI.

The HPC research projects DEEP-SEA, IO-SEA and RED-SEA are wrapping up this month after a three-year project term. The three projects worked together to develop key technologies for European Exascale supercomputers, based on the Modular Supercomputing Architecture (MSA), a blueprint architecture for highly efficient and scalable heterogeneous Exascale HPC systems. To achieve this, the three projects collaborated on system software and programming environments, data management and storage, as well as interconnects adapted to this architecture. The results of their joint work will be presented at a co-design workshop and poster session at the EuroHPC Summit (Antwerp, 18-21 March, www.eurohpcsummit.eu).

The Samsung Group has formed a new cross-department alliance—according to South Korea's Sedaily—this joint operation will concentrate on the research and development of a "dream substrate." The company's Electronics, Electrical Engineering, and Display divisions are collaborating in order to accelerate commercialization of "glass substrate" chip packaging. Last September, Intel revealed its intention to become an industry leader in "glass substrate production for next-generation advanced packaging." Team Blue's shiny new Arizona fabrication site will be taking on this challenge, following ten years of internal R&D work. Industry watchdogs reckon that mass production—in North America—is not expected to kick off anytime soon. Sensible guesstimates suggest a start date somewhere in 2030.

The Sedaily article states that Samsung's triple department alliance will target "commercialization faster than Intel." Company representatives—in attendance at CES 2024—set a 2026 window as their commencement goal for advanced glass substrate chip package mass production. An unnamed South Korean industry watcher has welcomed a new entrant on the field: "as each company possesses the world's best technology, synergies will be maximized in glass substrate research, which is a promising field...it is also important to watch how the glass substrate ecosystem of Samsung's joint venture will be established." Glass substrate packaging is ideal for "large-area and high-performance chip combinations" due to inherent heat-resistant properties and material strength. So far, the semiconductor industry has struggled with its development—hence the continued reliance on plastic boards and organic materials.

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Super Earth R&D Experiments
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The University of Shanghai for Science and Technology (USST), Peking University and the Shanghai Institute of Optics and Fine Mechanics (SIOM) are collaborating on new Optical Data Storage (ODS) technologies—a recently published paper reveals that scientists are attempting to create 3D nanoscale optical disk memory that breaks into petabit capacities. Society (as a whole) has an ever-growing data demand—this requires the development of improved high-capacity storage technologies—the R&D teams believe that ODS presents a viable alternative route to traditional present day solutions: "data centers based on major storage technologies such as semiconductor flash devices and hard disk drives have high energy burdens, high operation costs and short lifespans."

The proposed ODS format could be a "promising solution for cost-effective long-term archival data storage." The researchers note that current (e.g Blu-ray) and previous generation ODS technologies have been: "limited by low capacities and the challenge of increasing areal density." In order to get ODS up to petabit capacity levels, several innovations are required—the Nature.com abstract stated: "extending the planar recording architecture to three dimensions with hundreds of layers, meanwhile breaking the optical diffraction limit barrier of the recorded spots. We develop an optical recording medium based on a photoresist film doped with aggregation-induced emission dye, which can be optically stimulated by femtosecond laser beams. This film is highly transparent and uniform, and the aggregation-induced emission phenomenon provides the storage mechanism. It can also be inhibited by another deactivating beam, resulting in a recording spot with a super-resolution scale." The novel optical storage medium relies on dye-doped photoresist (DDPR) with aggregation-induced emission luminogens (AIE-DDPR)—a 515 nm femtosecond Gaussian laser beam takes care of optical writing tasks, while a doughnut-shaped 639 nm continuous wave laser beam is tasked with retrieval. A 480 nm pulsed laser and a 592 nm continuous wave laser work in tandem to read data.

Samsung Electronics and Vodafone, in collaboration with AMD, today announced that the three companies have successfully demonstrated an end-to-end call with the latest AMD processors enabling Open RAN technology, a first for the industry. This joint achievement represents the companies' technical leadership in enriching the Open RAN ecosystem throughout the industry. Conducted in Samsung's R&D lab in Korea, the first call was completed using Samsung's versatile, O-RAN-compliant, virtualized RAN (vRAN) software, powered by AMD EPYC 8004 Series processors on Supermicro's Telco/Edge servers, supported by Wind River Studio Container-as-a-Service (CaaS) platform. This demonstration aimed to verify optimized performance, energy efficiency and interoperability among partners' solutions.

The joint demonstration represents Samsung and Vodafone's ongoing commitment to reinforce their position in the Open RAN market and expand their ecosystem with industry-leading partners. This broader and growing Open RAN ecosystem helps operators to build and modernize mobile networks with greater flexibility, faster time-to-market (TTM), and unmatched performance. "Open RAN represents the forthcoming major transformation in advancing mobile networks for the future. Reaching this milestone with top industry partners like Samsung and AMD shows Vodafone's dedication to delivering on the promise of Open RAN innovation," said Nadia Benabdallah, Network Strategy and Engineering Director at Vodafone Group. "Vodafone is continually looking to innovate its network by exploring the potential and diversity of the ecosystem."

Yesterday, the U.S. Department of Commerce publicly announced two new notices of intent—as reported by Tom's Hardware, this involves the latest distributions from the CHIPS Act's $11 billion R&D budget: "$300 million is to be made available across multiple awards of up to $100 million (not including voluntary co-investment) for research on advanced packaging, while another $200 million (or more) is set aside to create the CHIPS Manufacturing USA Institute. Companies will have to compete for the funds by filing an application." The Act's primary $39 billion tranche is designated to new construction endeavors, e.g. the founding of manufacturing facilities.

A grand total of $52 billion was set aside for the CHIPS Act in 2022, which immediately attracted the attention of several semiconductor industry giants. Companies with headquarters outside of North America were allowed to send in applications. Last year, Intel CEO Pat Gelsinger, made some controversial statements regarding his company's worthiness of government funding. In his opinion, Team Blue is due the "lion's share" due to his operation being a USA firm—the likes of TSMC and Samsung are far less deserving of subsidies.

EdgeCortix, the Japan-based fabless semiconductor company focused on energy-efficient AI processing, predicts that 2024 is set to be a watershed moment for Edge AI. Through its predictions for the year, EdgeCortix believes that Edge AI landscape will be transformed during this exciting year for the industry. Next-gen AI chips, hybrid edge-cloud architectures, software supremacy and the rise of new generative-AI applications "at the edge," will revolutionize the world of business as we know it.

1. Next-Gen efficient Edge AI Chips will break barriers:
Prepare for a hardware uprising! EdgeCortix foresees next-gen energy-efficient AI chips that not only break the barriers of processing power but redefine them. These chips are not just powerful; they are customized for multi-modal generative AI and efficient language models, enabling cutting-edge AI capabilities at low power for a whole new spectrum of applications.

Synopsys (NASDAQ: SNPS) and Ansys (NASDAQ: ANSS) today announced that they have entered into a definitive agreement under which Synopsys will acquire Ansys. Under the terms of the agreement, Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share, representing an enterprise value of approximately $35 billion based on the closing price of Synopsys common stock on December 21, 2023. Bringing together Synopsys' pioneering semiconductor electronic design automation (EDA) with Ansys' broad simulation and analysis portfolio will create a leader in silicon to systems design solutions.

"The megatrends of AI, silicon proliferation and software-defined systems are requiring more compute performance and efficiency in the face of growing, systemic complexity. Bringing together Synopsys' industry-leading EDA solutions with Ansys' world-class simulation and analysis capabilities will enable us to deliver a holistic, powerful and seamlessly integrated silicon to systems approach to innovation to help maximize the capabilities of technology R&D teams across a broad range of industries," said Sassine Ghazi, President and CEO of Synopsys. "This is the logical next step for our successful, seven-year partnership with Ansys and I look forward to working closely with Ajei and the talented Ansys team to realize the benefits of this combination for our customers, shareholders and employees."

TCL CSOT, a renowned industry player developing advanced, innovative display technologies, recently showcased its extensive range of products spanning automobiles, laptops, tablets, smartphones, TVs, VR, and more at CES 2024. Among its showcased offering, the company's cutting-edge OLED and MLED technologies, notably its Inkjet Printing OLED (IJP OLED) and Fine Metal Mask-OLED (FMM-OLED) display technologies, drew major attention from the public.

Industry Breakthroughs in IJP OLED Technology
Over the years, TCL CSOT has been actively laying the groundwork for adopting inkjet-printing technology to manufacture OLED displays. This IJP OLED technology brings advantages including a wider color gamut, higher resolution, greater material utilization efficiency, lower power consumption, and reduced operating costs. TCL CSOT is currently focusing on medium and large-sized products for Inkjet Printing OLED, such as TVs, and aims to accelerate the industrialization by also including medium-sized screens, such as laptops and vehicles. In addition to focusing on medium and large-sized products, TCL CSOT aims to achieve mass production of IJP OLED in a small scale, particularly in the medical and IT fields, in 2024.

Intel today shared its plans to advance its semiconductor technology development facilities at the Gordon Moore Park at Ronler Acres in Hillsboro, Oregon. The campus is Intel's innovation hub for leading-edge semiconductor research, technology development and manufacturing in the United States. This undertaking is possible with support from the state of Oregon, city of Hillsboro and Washington County, and in anticipation of support from the U.S. CHIPS and Science Act.

"Intel has been dedicated to driving innovation and advancing technology in Oregon for almost five decades, and we are set to lead the charge in restoring America's leadership in semiconductor R&D and manufacturing, backed by Oregon and the U.S. CHIPS Act. This investment further solidifies our commitment to the Silicon Forest and rebalancing the global semiconductor supply chain," said Dr. Ann Kelleher, Intel executive vice president and general manager of the Technology Development Group.

Taiwan's Economic Daily reckons that a freshly formed partnership between TSMC, Broadcom, and NVIDIA will result in the development of cutting-edge silicon photonics. The likes of IBM, Intel and various academic institutes are already deep into their own research and development processes, but the alleged new alliance is said to focus on advancing AI computer hardware. The report cites a significant allocation of—roughly 200—TSMC staffers onto R&D involving the integration of silicon photonic technologies into high performance computing (HPC) solutions. They are very likely hoping that the usage of optical interconnects (on a silicon medium) will result in greater data transfer rates between and within microchips. Other benefits include longer transmission distances and a lower consumption of power.

TSMC vice president Yu Zhenhua has placed emphasis on innovation, in a similar fashion to his boss, within the development process (industry-wide): "If we can provide a good silicon photonics integrated system, we can solve the two key issues of energy efficiency and AI computing power. This will be a new one...Paradigm shift. We may be at the beginning of a new era." The firm is facing unprecedented demand from its clients—it hopes to further expand its advanced chip packaging capacity to address these issues by late 2024. A shift away from the limitations of "conventional electric" data transmissions could bring next generation AI compute GPUs onto the market by 2025.

International Data Corporation (IDC) today published its second forecast for the worldwide quantum computing market, projecting customer spend for quantum computing to grow from $1.1 billion in 2022 to $7.6 billion in 2027. This represents a five-year compound annual growth rate (CAGR) of 48.1%. The forecast includes base quantum computing as a service as well as enabling and adjacent quantum computing as a service.

The new forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021. In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on investment; the emergence of other technologies such as generative AI, which are expected to offer greater near-term value for end users; and an array of macroeconomic factors, such as higher interest and inflation rates and the prospect of an economic recession.