China's Chip Boom Drives Tech Giants, Delhivery Shakes Up Leadership Amid AI Hiring Surge
China's chip sector is booming due to Beijing's push for local firms to adopt homegrown semiconductors and cut reliance on American technology. Cambricon Technologies more than doubled its revenue to 5.99 billion yuan ($887 million) in the first half of this year, while Shanghai Iluvatar CoreX expects sales to triple over the same period.
In a related development, India's logistics giant Delhivery has promoted Chief Business Officer Vani Venkatesh to deputy CEO, expanding her responsibilities across revenue, marketing and customer experience. This move follows a broader leadership reshuffle at Delhivery this year, with several executives elevated to new C-suite roles.
A Nomura report finds that AI-related hiring in India has outpaced job losses so far, 83,100 AI-related hires versus 31,921 documented layoffs and attrition. However, the gains aren't evenly spread: demand for entry-level roles is weakening while demand for experienced/senior workers stays relatively strong.
Crypto projects worldwide are experiencing a massive shakeout, with over 100 shutting down or going dark in 2026. The pace of consolidation is accelerating, with four major firms, BitMEX, BitMart, Movement Labs, and Storj Labs, folding in one week alone in late July.
A new trend in enterprise automation is emerging, known as agentic automation. This involves replacing rigid rules-based workflows with AI agents that reason, adapt, and act autonomously across systems, pulling data from CRMs, ERPs and other sources to complete tasks without manual scripting.