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Huawei Chairman Guo Ping stated that the Chinese technology firm will return to the smartphone "throne". Huawei was placed on an export blacklist by the Trump administration, and was shut off from crucial technologies, such as advanced semiconductors used for its devices. In the first half of 2021, revenue from Huawei's consumer sector fell by 47% year on year. Source: CNBC

If chip production used to be in the hand of the US, Europe and Japan, the provenance of these very important pieces of hardware is largely diversifying, with China, South Korea, Taiwan and other countries having stepped in during the 2000s, and set to gain increasing market share in the years to come. Source: Statista, BCG, Semiconductor Industry Association

Baidu unveiled Kunlun 2, the second-generation AI processor aimed at applications such as self-driving cars. The Chinese internet behemoth also unveiled a prototype "robocar" and redesigned its robotaxi app, highlighting its autonomous driving ambitions. Source: CNBC

There are more and more investors starting to doubt Cathie Wood's investing strategy focusing on innovation, and they are making it clear. Returns were outstanding in 2020, but they are starting to dwindle this year. Famous investor Michael Burry made his position clear by shorting the ARK Innovation ETF. This fund is down 7% this year after an outstanding 149% return last year. Source: Bloomberg

Telehealth company Amwell reported that its total virtual visits have declined from 1.6 million in Q1 2021 to 1.3 million in Q2 2021. And surprisingly, the company expects this drop to continue through the end of the year even as stronger mask and social distancing mandates are enforced. What’s more, Amwell’s expected 2021 revenue range was adjusted down from $260-$270 million to $252-$262 million, indicating that it can’t rely solely on telehealth visits. Source: Insider Intelligence