Samsung Exits China’s Home Appliance Market
On May 6, Samsung Electronics China announced on its official website that it has decided to stop selling all home appliances, including TVs and monitors, in the Chinese mainland market. For users who have already purchased Samsung home appliances, the company will continue to provide after-sales service in accordance with relevant laws and regulations.
In response to the question of whether the company’s mobile phone business will also exit China, Samsung stated that its mobile phone products will continue to be sold normally.
Yu Hao Advises Young People Not to Invest in Stocks
On May 6, Yu Hao, founder and CEO of Zhuiyi Technology, posted on social media that “today is another trading day in the stock market, but I advise young people not to buy stocks. I myself don’t buy any stocks. I think before the age of 45, you should use your intelligence and hard work to earn money, and only after 45 can you let your money make money.”
In his opinion, the reason why people around him often hear about making money from stocks is actually “a survivor’s bias.” Another reason is that one should not make easy money. “Even if you make money in the stock market, the money comes too easily, and if you make easy money, you will not want to work hard to make difficult money in the future, and your mindset will change,” Yu Hao said.
Regarding the “rich second generation” group, Yu Hao also expressed his opinion, saying that he does not recommend them to invest, but rather to start their own businesses or work hard and develop in a company.
Apple Settles Siri-Related Lawsuit for $250 Million
On May 5, Apple reached a settlement in a class-action lawsuit related to Siri’s artificial intelligence, agreeing to pay $250 million.
The lawsuit originated from Apple’s high-profile announcement of its new Siri upgrade plan at the 2024 Worldwide Developers Conference (WWDC24). The plaintiffs alleged that Apple’s promotion was “false and misleading” and constituted unfair competition.
According to the settlement terms, the $250 million compensation will be distributed to eligible iPhone users in the United States who purchased devices between June 10, 2024, and March 29, 2025. The compensation standard for each device is $25, and the maximum compensation can reach $95 if the number of claimants is lower than expected. Apple did not admit any wrongdoing in the agreement, stating that the settlement was to focus on product innovation and user service. The case is still pending court approval.
Dongfang Selected Opens Its First Offline Experience Store
On May 5, Dongfang Selected’s first offline experience store opened for trial operation in Beijing’s Zhongguancun New Oriental Building. The store is scheduled to officially open on May 21 and will gradually expand its national layout based on New Oriental’s offline teaching points.
Several netizens posted videos on social media, and Dongfang Selected’s executive president, Sun Jin, also appeared at the store, communicating with customers face-to-face. In the video, Sun Jin explained the benefits of membership, including “sending coupons, discounts, and eggs,” and promoted the idea of “letting money make money” after 45.
NVIDIA’s Market Value Reaches $500 Billion Again
On May 6, NVIDIA’s stock price rose 4.75% to $205.83 per share, with a total market value of $500 billion.
On the same day, Corning announced that it had formally signed a securities purchase agreement with NVIDIA, as part of their long-term partnership. Corning issued and sold $500 million worth of warrants to NVIDIA, which can be used to purchase up to 15 million shares of Corning common stock at an exercise price of $180.00 per share.
AMD Predicts CPU Market Growth to Exceed 35% by 2030
According to reports, AMD predicted that the CPU market will grow by more than 35% by 2030. The company also expects its second-quarter CPU revenue to grow by more than 70% and plans to start shipping Meta chips in the second half of the year. Due to rising memory and component costs, AMD expects PC shipments to decline in the second half of the year. The company is working closely with its supply chain partners to increase wafer and backend production capacity.
Wentai Technology’s Stock Price Plummets, Formerly a High-Flying Stock
On May 6, Wentai Technology’s stock price plummeted, with its stock abbreviation officially changed to “*ST Wentai.” As of the closing bell, the stock price had fallen to 26.71 yuan per share, with a total market value of 33.245 billion yuan.
Coinbase to Lay Off Nearly 14% of Its Employees
Coinbase CEO Brian Armstrong announced on social media on May 5 that the company will lay off nearly 14% of its employees and restructure into “intelligent departments, calibrated by humans on the periphery.”
Armstrong stated that AI is accelerating various processes, which means that the number of employees required for operational business will decrease. The decision to lay off employees was partly attributed to the downturn in the cryptocurrency market.
