Organised AI chip smuggling to China has been tracked out of countries including Malaysia, Singapore and the United Arab Emirates, according to a source.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

China’s DeepSeek says it trained an AI model for less than $6 million. This is as big U.S. tech companies have poured billions of dollars into AI chips and systems for their projects.

Stocks rose Friday as Apple led a broad rally following a strong investor reaction to its quarterly earnings report and the market closes out a whirlwind week highlighted by Nvidia’s record-breaking losses in reaction to China’s DeepSeek cheaper AI model and a flurry of earnings reports.