<ul>
<li>Lucid Motors is experiencing a significant increase in orders, particularly from former Tesla owners, as its new Gravity SUV hits the market. Interim CEO Marc Winterhoff noted that about 50% of recent orders are from customers who previously owned Tesla vehicles, indicating a shift in consumer preference towards Lucid's offerings. The Gravity SUV is expected to appeal to a broader market, as SUVs are increasingly favored by American consumers, potentially enhancing Lucid's sales volume and market presence.</li>
</ul>
<ul>
<li>The competitive landscape for luxury electric vehicles is intensifying, with Lucid positioning itself as a viable alternative to Tesla amid recent brand challenges faced by the latter. Winterhoff highlighted that the Gravity SUV's pricing starts at $79,900, just under the federal EV tax credit cap, which could further stimulate demand. However, Lucid must navigate competition from established luxury brands and Tesla's own offerings, which could impact its market share and growth trajectory.</li>
</ul>

EV Surge

<ul>
<li>Visa has made a significant offer of $100 million to Apple to replace Mastercard as the credit card partner for the Apple Card. This move comes as Apple seeks a new partner following the end of its alliance with Goldman Sachs, which had been the issuer since the card's launch in 2019. The competition is intensifying as American Express is also vying for the role, aiming to become both the issuer and the network for the Apple Card. This strategic shift indicates a growing interest in digital payment solutions and partnerships within the tech and financial sectors.</li>
</ul>
<ul>
<li>The departure of Goldman Sachs from the consumer credit space has opened the door for other financial institutions to step in, with Barclays and Synchrony Financial also in discussions with Apple. The competitive landscape is evolving, with major players like Visa and Amex positioning themselves to capture a lucrative market segment. This bid not only reflects Visa's aggressive strategy to expand its footprint in the digital payments arena but also highlights the ongoing transformation in consumer finance, where tech companies are increasingly collaborating with financial institutions.</li>
</ul>

Bold Bid

<ul>
<li>United Microelectronics (UMC) shares surged approximately 9% following reports of a potential merger with U.S.-based GlobalFoundries (GFS). This merger aims to create a combined entity with production capabilities across the U.S., Asia, and Europe, enhancing the companies' ability to secure American access to semiconductor chips amid rising geopolitical tensions between Taiwan and China. The merger could position the new company as a formidable competitor to industry leader Taiwan Semiconductor Manufacturing Co. (TSMC), which has recently announced significant investments in U.S. chip manufacturing.</li>
</ul>
<ul>
<li>The merger discussions come at a time when the semiconductor industry is facing increasing competition and supply chain challenges. Analysts have noted that while the merger could provide scale and resources to compete against Chinese firms, it also presents significant regulatory hurdles, particularly concerning cross-border transactions. Bank of America has flagged these complexities, suggesting that GlobalFoundries' unique value proposition&mdash;its limited exposure to China and Taiwan&mdash;might be compromised in a merger scenario. Investors are closely monitoring these developments as they could significantly impact the competitive landscape of the semiconductor industry.</li>
</ul>

Merger Buzz

<ul>
<li>Investors are reacting to President Donald Trump's announcement on Wednesday of new 25% tariffs on all cars not made in the U.S., with exceptions for cars made with U.S. parts. This adds to concerns about how Trump's retaliatory tariffs might impact the slowing U.S. economy, which is facing a 12-year low in consumer confidence.</li>
</ul>
<ul>
<li>However, Thursday&rsquo;s jobless claims data provided some relief, showing little change in initial filings for unemployment insurance, with 224,000 claims for the week ending March 22. Investors are now looking to the upcoming personal consumption expenditures index, the Federal Reserve's preferred inflation gauge, set to be released on Friday.</li>
</ul>

New Tariffs

<ul>
<li>Alibaba Cloud launched its new artificial intelligence model, "Qwen2.5-Omni-7B," on Thursday, expanding its "Qwen series" amid growing competition in China's large language model space. This multimodal model can process text, images, audio, and videos, providing real-time text and natural speech responses. It can be deployed on edge devices like mobile phones, offering high efficiency without compromising performance.</li>
</ul>
<ul>
<li>Alibaba highlights its potential for developing cost-effective AI agents, particularly for intelligent voice applications, such as aiding visually impaired individuals with real-time audio descriptions. The model is open-sourced on platforms like Hugging Face and Github, following the trend set by DeepSeek's breakthrough R1 model. Alibaba Cloud has open-sourced over 200 generative AI models in recent years.</li>
</ul>

Alibaba Steps Up in AI Race

<ul>
<li data-start="0" data-end="614">Stocks fell sharply on Wednesday, led by declines in major technology shares, as investors awaited President Trump's announcement of automobile tariffs, which raised concerns about the market's recovery from a month-long selloff. The White House confirmed that Trump would announce automobile tariffs after the market closed, setting the stage for broader tariffs to be imposed on U.S. trading partners starting April 2.</li>
</ul>
<ul>
<li data-start="0" data-end="614">In the tech sector, major companies like Tesla, Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta Platforms, and Broadcom saw significant losses. Notably, Super Micro Computer and Vistra were among the biggest decliners. However, Cintas saw a 6% surge in its shares after reporting strong earnings and raising its profit guidance, while Dollar Tree rose 3% following the announcement of its $1 billion Family Dollar sale. GameStop shares jumped nearly 12% after updating its investment policy to include Bitcoin.</li>
</ul>

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