South Korean Startups Designing AI Chips To Capitalize On Growing Market

South Korean startups are increasingly focusing on designing artificial intelligence (AI) chips to capitalize on the rapidly growing global market for AI computing. These "fabless" companies, which do not own production facilities, are receiving support from Samsung Electronics and the government.

TipTop, a startup that provides instant cash for electronics, has launched TipTop Shop, a new feature that allows users to purchase and trade in devices. The platform simplifies the process of selling old devices to buy new ones by combining buying and trading in one place. Users can purchase new, open-box, and refurbished devices using cash from trade-ins, with the value of traded-in items instantly recognized and discounts applied accordingly. TipTop handles payments through Stripe and deliveries, and owns the devices itself. The company has raised $23 million in Series A funding from various investors.

Apple has reached a settlement agreement worth $490 million in response to a class-action lawsuit that accused CEO Tim Cook of withholding information about declining demand for iPhones in China, allegedly defrauding shareholders. The lawsuit, originally brought against Apple and Mr. Cook by the US city of Roseville, was later led by Norfolk County Council. The preliminary settlement, which amounts to nearly two days of profit for Apple, has been submitted to the U.S. District Court in Oakland, California and is pending approval from Judge Yvonne Gonzalez Rogers.