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Tech Across the Globe

Chip talk: A top official of the United Arab Emirates is said to be preparing for a visit to Washington to press Trump administration officials to ease export controls for advanced semiconductors.

Delivery power: Meituan, the Chinese delivery giant, gained more market power when British rival Deliveroo dropped its service in Hong Kong, leaving Meituan’s Keeta in a dominant position. 

AirPod tool: Apple plans to introduce a feature that would let AirPods live-translate conversations. The move will give the company’s earbuds a capability that has already been an option for rivals, including Google’s Pixel Buds. 

Revalued

Adobe was the worst performer in the S&P 500 Thursday after its lackluster quarterly results combined with a move by investors away from tech stocks sent its shares down 14% to $377.84 — its lowest price since May 2023. The maker of Photoshop was a growth engine for a decade, averaging annual returns of about 35% from 2012-2021. But investors have deserted the software maker in the face of competition from AI startups and its market value has declined 37% since the start of 2024.

Must read

In today’s Tech In Depth, Ellen Huet writes about the crosscurrents surrounding a small violent group and Silicon Valley tech communities devoted to rational thought and the prevention of out-of-control AI. For more Bloomberg coverage of the tech industry, subscribe here.

This week in Cyber Q&AI

The enthusiasm for artificial intelligence in China today is reminiscent of the fervor in the US when ChatGPT hit the public consciousness in 2022, Saritha Rai reports in this week’s Q&AI. While concerns about the cost and payoff have dimmed the exuberance a bit in the US, every other day Chinese companies are announcing ambitious new AI products or services, she writes. For more of Bloomberg’s coverage of AI, subscribe here.

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