Alphabet reported double-digit revenue growth and beat Wall Street's Q2 expectations, marking its 12th consecutive quarter of gains. The tech giant increased its capital expenditure forecast to $200bn, driven by massive AI investments, while facing intense competition from rivals like OpenAI and Anthropic.
Hong Kong police arrested a 26-year-old investment manager at Chief Securities for allegedly making unauthorized investments, causing an estimated HK$150 million (US$19.1 million) loss. The suspect, who worked as a trader for six months, was arrested Monday after audits revealed suspicious activity between January 9 and Monday.
China has blocked Meta's $2bn acquisition of Manus, an AI startup developing autonomous AI agents. The Chinese National Development and Reform Commission ordered the deal cancelled, prohibiting foreign investment in the Manus project and requiring the parties to withdraw the transaction. The move comes amid heightened US-China tech competition, with Chinese regulators reportedly planning to block tech firms from accepting US investment without government approval. The decision comes weeks before a planned mid-May summit between Trump and Xi Jinping in Beijing.
