State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would increase gasoline and diesel prices by NT$0.8 per liter to a nine-week high as crude oil prices soared amid expectations that US would cut shale oil output.
CPC attributed the price hikes to lower supply forecast by the International Energy Agency, which trimmed shale production from the US next month due to fewer oil rigs in operation, CPC said in a statement posted on its Web site.
Global crude oil prices jumped 5.93 percent, or US$3.3, to US$58.92 per barrel last week, compared with US$55.62 in the prior week, according to CPC’s pricing information.
After factoring in the New Taiwan dollar’s depreciation of NT$0.068 against the US dollar, which drove CPC’s crude import costs higher, domestic fuel prices should go up 4.93 percent this week, CPC said.
The nation’s only private oil refiner, Formosa Petrochemical Corp (台塑石化), yesterday said it would increase prices by NT$0.8 per liter for its 95-octane unleaded and 98-octane unleaded gasoline, while 92-octane unleaded gasoline would rise NT$0.7 per liter and diesel would climb NT$0.9 per liter.
Formosa’s new prices are to take effect tomorrow, rather than today, as CPC plans.
Nvidia Corp earned its US$2.2 trillion market cap by producing artificial intelligence (AI) chips that have become the lifeblood powering the new era of generative AI developers from start-ups to Microsoft Corp, OpenAI and Google parent Alphabet Inc. Almost as important to its hardware is the company’s nearly 20 years’ worth of computer code, which helps make competition with the company nearly impossible. More than 4 million global developers rely on Nvidia’s CUDA software platform to build AI and other apps. Now a coalition of tech companies that includes Qualcomm Inc, Google and Intel Corp plans to loosen Nvidia’s chokehold by going
DECOUPLING? In a sign of deeper US-China technology decoupling, Apple has held initial talks about using Baidu’s generative AI technology in its iPhones, the Wall Street Journal said China has introduced guidelines to phase out US microprocessors from Intel Corp and Advanced Micro Devices Inc (AMD) from government PCs and servers, the Financial Times reported yesterday. The procurement guidance also seeks to sideline Microsoft Corp’s Windows operating system and foreign-made database software in favor of domestic options, the report said. Chinese officials have begun following the guidelines, which were unveiled in December last year, the report said. They order government agencies above the township level to include criteria requiring “safe and reliable” processors and operating systems when making purchases, the newspaper said. The US has been aiming to boost domestic semiconductor
ENERGY IMPACT: The electricity rate hike is expected to add about NT$4 billion to TSMC’s electricity bill a year and cut its annual earnings per share by about NT$0.154 Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has left its long-term gross margin target unchanged despite the government deciding on Friday to raise electricity rates. One of the heaviest power consuming manufacturers in Taiwan, TSMC said it always respects the government’s energy policy and would continue to operate its fabs by making efforts in energy conservation. The chipmaker said it has left a long-term goal of more than 53 percent in gross margin unchanged. The Ministry of Economic Affairs concluded a power rate evaluation meeting on Friday, announcing electricity tariffs would go up by 11 percent on average to about NT$3.4518 per kilowatt-hour (kWh)
OPENING ADDRESS: The CEO is to give a speech on the future of high-performance computing and artificial intelligence at the trade show’s opening on June 3, TAITRA said Advanced Micro Devices Inc (AMD) chairperson and chief executive officer Lisa Su (蘇姿丰) is to deliver the opening keynote speech at Computex Taipei this year, the event’s organizer said in a statement yesterday. Su is to give a speech on the future of high-performance computing (HPC) in the artificial intelligence (AI) era to open Computex, one of the world’s largest computer and technology trade events, at 9:30am on June 3, the Taiwan External Trade Development Council (TAITRA) said. Su is to explore how AMD and the company’s strategic technology partners are pushing the limits of AI and HPC, from data centers to