Asia’s AI boom papering over underlying rust-belt economies
Walk through any major electronics hub in Shenzhen, Seoul or Taipei right now, and the neon glare of artificial intelligence is blinding. It’s also intensifying: order books for advanced chips are overflowing, stock tickers are melting upward and tech executives speak with a zeal that would make dot-com CEOs blush. But step behind the glittering […] The post Asia’s AI boom papering over…
Artificial intelligence is booming in major electronics hubs across Asia, including Shenzhen, Seoul, and Taipei. The industry is experiencing intense growth, with overflowing order books for advanced chips and surging stock prices. Tech executives are optimistic, echoing the enthusiasm of dot-com CEOs.
However, according to the Asia Times, beneath the surface of this AI boom, underlying economies are struggling. The contrast between the thriving tech sector and the rest of the economy is stark.
The crypto industry, meanwhile, is experiencing a slump, with anxiety over the future of bitcoin and AI overshadowing the Bitcoin Asia conference in Hong Kong. Binance founder Zhao Changpeng, also known as "CZ", expressed optimism, stating that bitcoin "will for sure become more important than gold" and predicting it will overtake gold soon.
Brief written by urgent.news from Asia Times, SCMP Tech — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
