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Mainland China stocks fell on Thursday as technology shares struggled. The Shanghai Composite Index dropped 0.8 percent, while the CSI300 index fell 0.9 percent. Meanwhile, Hong Kong shares got a boost as Alibaba jumped 4.8 percent after the company said its AI model would be integrated into Apple devices in China.
The ET Most Innovative AI Product Awards 2026 recognises AI products that provide measurable business value across different sectors. These tools typically solve four core problems: visibility, coordination, compliance, or scale. As enterprise AI adoption matures, buyers now focus on the specific business challenges that these new products actually solve.
OnePlus plans to wind down operations in India, the US, and Europe, according to Bloomberg. The company got hit by rising prices and slow demand for new phones. This move is part of a larger restructuring at parent company OPPO. The exit from Western markets starts soon, with India following by 2027.
Quick Clean raised $14 million in a series B round led by Stakeboat Capital. The company got support from Alkemi Growth Capital and Blue Ashva Capital to grow. It will use the funds to add more laundry facilities, invest in AI technology, and hire many new people for its team.
Amazon said Wednesday that it will launch its satellite internet service in South Africa in 2027. The company partnered with local provider Herotel to reach the country of 62 million people. This deal marks Amazon’s first satellite agreement on the continent, as it looks to connect many rural areas soon.
OnePlus will cease operations in the US and Europe this week due to financial challenges faced by parent company Oppo. The brand, once popular with tech fans, will also exit India by 2027. Oppo started this restructuring as handset shipments fell and the cost of phone components got high.
IT stocks staged a broad-based rebound on Thursday, snapping a two-session losing streak as investors bought into software companies. The Nifty IT index climbed 0.94% to 28,799.25. Many shares rose after softer US inflation data boosted sentiment. Investors now wait for June-quarter earnings from Wipro and Tech Mahindra later today.
Linux creator Linus Torvalds said Linux is not an anti-AI project. He now sees AI as just another tool for developers. Torvalds told those who disagree with using AI to contribute to the kernel that they can "fork it, or just walk away." He expects AI to keep finding bugs.
Google will allow third-party Android app stores in the US to access the Google Play Store's catalog starting July 22. Google said the same terms and conditions that apply to direct downloads from the Play Store will also apply to apps downloaded through third-party app stores. Fees still apply.
Taiwan Semiconductor Manufacturing Co. is expected to report a record profit on Thursday. Analysts said net profit for the April-June quarter could jump nearly 59% to T$632.6 billion. Strong global demand for AI chips fueled this growth, as many tech giants use the firm’s advanced technology for their processors.
Google will allow third-party app stores inside its Play Store in the US starting next week. The company said it chose to avoid "prolonging this process, which creates uncertainty for the ecosystem." This move follows a long legal battle with Epic Games, finally letting Android users easily access rival marketplaces.
President Xi Jinping will outline China’s AI governance vision at a Shanghai forum on Friday. The event runs from July 17 to 20, where Huawei will debut its advanced AI computing cluster. This gathering shows Beijing’s push to build domestic technology and compete for influence over global AI rules.