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Alibaba's Hong Kong-listed shares jumped 8% on Thursday after the Chinese tech giant unveiled its latest AI reasoning model, claiming it outperforms competitors like OpenAI and DeepSeek. The news also helped boost the Hang Seng's China Enterprises Index.

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Discord, the popular social chat platform, has begun preliminary discussions with investment bankers regarding a potential initial public offering (IPO) that could occur as early as this year. The gaming-focused communication service, valued at approximately $15 billion in its 2021 private funding round, is considering this strategic move amid cautious signs of revival in the tech IPO market.

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Microsoft has announced that it will discontinue Skype operations in May 2025, shifting its focus entirely to its modern communication platform, Microsoft Teams (free). The move signals Microsoft's intent to consolidate its communication services around Teams after two decades of Skype serving as a leading online calling and messaging service.

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Intel Corporation has appointed industry veteran Lip-Bu Tan as its new CEO, effective March 18, in a strategic move to restore the struggling chipmaker's position in an increasingly competitive market. The announcement sent Intel shares surging 12% in extended trading Wednesday, offering investors hope amid the company's prolonged difficulties.

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Leading AI firms, including OpenAI, Microsoft, and Meta, are turning to a technique known as "distillation" to build more cost-effective and efficient AI models. This shift, sparked by competition from China's DeepSeek, has intensified the global race for AI dominance while raising concerns about intellectual property and market stability. As a result, billions of dollars have been wiped from the market value of major U.S. tech firms.

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