Apple Inc. received a rare bearish rating as KeyBanc Capital Markets downgraded the stock to underweight, citing concerns over both demand and valuation.

Huawei Technologies Co. and Apple Inc. extended their lead atop China’s smartphone market in the June quarter, expanding their shipments as consumers opted to either buy premium devices or skip upgrades, according to IDC.

OpenAI asked a judge to find that a lawsuit filed by xAI Corp. accusing the ChatGPT maker of trade secret theft “should never have been filed” and seeks to recoup more than $1 million in legal expenses from Elon Musk’s company.

Apple's lawsuit accusing OpenAI of systematically stealing its intellectual property threatens to disrupt the AI company’s device ambitions long before the case is resolved. Bloomberg's Mark Gurman joins Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)

Bloomberg’s Ed Ludlow breaks down why an AI-fueled stock rout in South Korea spilled over into the US market Monday, sending SK Hynix ADRs falling in their second US trading day. Plus, Apple and OpenAI's AI rivalry enters the courtroom, with Apple filing a sweeping trade secrets lawsuit against the ChatGPT maker. And, FCC Chairman Brendan Carr joins to talk regulating space, and Palantir co-founder and 8VC managing partner Joe Lonsdale sits down with Ed to discuss his outlook for the defense tech sector. (Source: Bloomberg)

Apple Inc.’s lawsuit accusing OpenAI of systematically stealing its intellectual property threatens to disrupt the AI company’s device ambitions long before the case is resolved.

Investors are flocking back to Apple Inc. as nervousness about artificial intelligence spending weighs on the stocks of chipmakers and cloud-computing giants.

Investors are flocking back to Apple Inc. as nervousness about artificial intelligence spending weighs on the stocks of chipmakers and cloud-computing giants.

"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Singapore with Shery Ahn and Avril Hong, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)

Also: New Apple Pencils are coming.

Bloomberg Tech host Ed Ludlow says Apple's lawsuit against OpenAI reflects an intensifying battle for AI talent and hardware leadership, with Apple alleging former employees improperly took trade secrets as OpenAI expands its device ambitions. He also says SK Hynix expects AI memory demand to outpace supply, plans to increase US investment beyond $35 billion, and sees the next test for the AI boom coming as technology companies report earnings and investors assess whether spending is translating into profits. (Source: Bloomberg)

When iPhone engineer Chang Liu quit for a job at OpenAI’s nascent hardware division, Apple Inc. says he left with more than just years of experience.

Apple sued OpenAI for trade secret theft, accusing the artificial intelligence startup and its hardware chief of engaging in a coordinated campaign to steal information about upcoming products. Apple alleges that OpenAI encouraged Apple employees to share information, components, drawings and other materials related to upcoming products. Mark Gurman reports. (Source: Bloomberg)

Apple Inc. sued OpenAI for trade secret theft, accusing the artificial intelligence startup and its hardware chief of engaging in a coordinated campaign to steal information about upcoming products.

“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Haidi Stroud-Watts + Avril Hong give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. UPDATE: Bain says a special-purpose investment vehicle it set up for SK Hynix still holds a 14% stake in Kioxia. (Source: Bloomberg)

Apple Inc. supplier Luxshare Precision Industry Co. fell in its Hong Kong trading debut on Thursday after raising HK$24.3 billion ($3.1 billion) in the city’s biggest listing this year so far.

Apple Inc. supplier Luxshare Precision Industry Co. fell in its Hong Kong trading debut on Thursday after raising HK$24.3 billion ($3.1 billion) in the city’s biggest listing this year so far.

A weekly, midday program that delivers high-impact, editorially driven coverage of the most important corporate transactions shaping the global market. Today's guests: Paul Weiss Global Co-head of M&A Krish Veeraraghavan and Alix Partners Partner & Managing Director Grace Lee. (Source: Bloomberg)

Broadcom is going to more than 15 billion chips in the US as part of an extended deal with Apple. Mark Gurman reports on how those new US-made components will be used on "Bloomberg Tech." (Source: Bloomberg)

Apple Inc., following through on a pledge to boost spending on US-made components, said its expanded agreement with Broadcom Inc. is expected to top $30 billion.