Tech Giants Flee China as Trade Risks Mount

Google is pulling its Pixel smartphone production out of China by 2027. This move makes Google the second major smartphone maker, after Samsung, to slash production in China. The decision reflects efforts to reduce exposure to geopolitical and trade risks associated with China.

Google's successful high-end Pixel production in Vietnam has given it confidence to relocate production outside of China. Another tech giant, Nvidia, is also expanding its operations in the US. It has agreed to provide over $100 billion in credit support for an OpenAI data centre campus in Ohio and will be the exclusive AI computing supplier.

Alibaba's shares rose by up to 5% after Alipay launched a new all-in-one platform that uses artificial intelligence agents to automate tasks, boosting optimism ahead of its upcoming earnings. Meanwhile, Robinhood has launched its own blockchain, Robinhood Chain, with total value locked surging to $540 million since its July debut.