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5 Top Stories

Isomorphic’s Pharma Partnerships; Huawei vs. Apple; New Nvidia China Chip

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Pharma Partnerships for Alphabet’s Isomorphic

Isomorphic Labs — a London-based subsidiary of Alphabet [GOOGL] which uses artificial intelligence (AI) for drug discovery — has announced strategic research collaborations with both Novartis [NVS] and Eli Lilly [LLY]. Isomorphic will receive upfront payments of $45m and $37.5m, respectively, from the two firms, for research into small molecule therapeutics, with the potential to earn billions of dollars in performance-based payments.

Will Huawei Best Apple in China?

China’s mobile market may be growing, but Apple’s [AAPL] sales slump is worsening, Bloomberg reported. According to Jefferies analysts, sales of the latest generation of iPhones are now at a 30% year-on-year decline. Rival Huawei, meanwhile, has seen a spike in sales of its new Mate 60, launched weeks before the iPhone 15 was released back in September. Jefferies reckons that Huawei shipped some 35 million units in 2023.

BT Set to Roll Out New EV Chargers

BT [BT] could convert up to 60,000 of its street cabinets — previously used to house cables — into electric vehicle (EV) charging units, with trials set to be rolled out across the UK in coming months, reported Reuters. The government wants there to be 300,000 kerbside charge points by the 2030s, up from 53,906 at the end of December. Elsewhere, Geely’s [GELYF] EV unit Zeekr wants to double its EV deliveries to 230,000 in 2024.

Does Using AI Expose You to the Risk of a Lawsuit?

According to the Financial Times, the world’s leading cloud providers are only offering limited protections against AI-related copyright lawsuits. Firms including Amazon [AMZN] and Google are pushing generative AI tools and services that are trained on texts and images trawled from the internet. This has led to concerns that rights holders will sue third parties who use AI trained on their data, but the Financial Times has analysed indemnity clauses and found they only offer limited protection to third party users.

New Nvidia China Chip

Nvidia [NVDA] is planning to begin mass production of its H20 chip, designed for sale in China, in the second quarter of 2024, according to sources cited by Reuters. After new US export rules were announced in October, the tech giant developed three new chips, of which the H20 is the most powerful. It was originally meant to be launched in November.

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