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China's Car Sales Slump As Gasoline Demand Craters
China's Car Sales Slump As Gasoline Demand Craters
Authored by Irina Slav via OilPrice.com,
Chinese car sales in China fell by 21.5% in April, driven by lower demand for gasoline-powered vehicles amid higher fuel prices. EV demand failed to offset the drop in internal combustion engine vehicle sales, as well.
According to Bloomberg data, total car sales in China last month hit 1.4 million. This was the lowest since 2022, when China was still in the grip of Covid lockdowns. Internal combustion engine car sales suffered a decline of over 30%, while EV and...
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Oracle & OpenAI Scrap Texas Data Center Expansion Plan, Sending AI Stocks Lower
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AI-related stocks are sliding late in the New York cash session after Bloomberg News reported that Oracle and OpenAI have scrapped plans to expand the Stargate AI data center in Abilene, Texas, from about 1.2 GW to 2.0 GW. Sources said the expansion was canceled after talks stalled over financing issues and OpenAI's changing demand forecasts.
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