Trump-Xi meeting deflates TikTok fans

Hi, you’re receiving our free Tech In Brief newsletter because you had been getting one of Bloomberg’s technology newsletters that are now subscriber-only. You can manage your subscriptions here.

Tech Across the Globe

Holiday expectations: Apple predicted a major boost in holiday season sales fueled by the new iPhone 17 models, with CEO Tim Cook expressing confidence sales in China will also rebound from a surprise slump.

Chip demand: Samsung’s chip unit reported an 80% surge in profit, taking advantage of global AI demand to help drive a recovery at the South Korean company’s most important business.

So much chip demand: Jensen Huang announced a landmark deal with South Korea’s biggest companies, Samsung included, that includes the sale of more than 260,000 Nvidia AI accelerators and the setup of several projects to make the country an AI leader for the Asia-Pacific region.

Merger rejected: Core Scientific investors spurned a $9 billion takeover bid from CoreWeave, an AI infrastructure company. Proxy advisers and a major Core Scientific shareholder had said the deal undervalued the data center operator.

Revalued

Artificial intelligence startup Poolside is in discussions to raise $2 billion at a $12 billion valuation, a deal that includes an investment of as much as $1 billion from leading AI chipmaker Nvidia. Poolside has already secured more than $1 billion in commitments for the fundraising round.

Must Read

TikTok investors and users had high hopes that a meeting between US President Donald Trump and Chinese leader Xi Jinping would settle the future of the popular video app, Alexandra Levine reports in today’s Tech In Depth. But anyone who had an interest TikTok, which faces a ban in America unless sold to US investors, came away deflated as the leaders emerged from their talks without discussing the issue, Levine writes.

Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world.

This Week in Soundbite

Podcasts are on TV now, and that’s changing everything, Ashley Carman writes in this week’s Soundbite. Podcasters had been moving from audio-only to video, but now it’s not just YouTube, she writes. They’re cutting deals with Netflix, Fox and other streaming services usually watched on television.

Sign up for the Soundbite newsletter to get exclusive reporting on podcasting, the music industry and audio trends from Ashley Carman.

Get Tech In Depth and more Bloomberg Tech newsletters in your inbox:

• Cyber Bulletin for coverage of the shadow world of hackers and cyber-espionage
• Game On for diving deep inside the video game business
• Power On for Apple scoops, consumer tech news and more
• Screentime for a front-row seat to the collision of Hollywood and Silicon Valley
• Soundbite for reporting on podcasting, the music industry and audio trends
• Q&AI for answers to all your questions about AI