US spectrum auction raises $3.5bn, aids replacing Chinese telecom equipment

The US Federal Communications Commission (FCC) has announced that an auction of wireless mid-band spectrum has raised over $3.5Bn, with up to $3.3Bn of the proceeds to be used to fund the replacement of Chinese Telecom equipment.

The FCC's "rip and replace" programme aims to remove Huawei, ZTE, or other Chinese equipment from their Wireless networks and other programmes.

The agency previously estimated removing the Chinese equipment would cost $4.98Bn, but Congress only approved $1.9Bn before deciding to hold the auction. Last week, the FCC said that 42% of Federal funding recipients have completed the replacement and disposal of all Chinese equipment, citing delays due to permitting, supply chain issues, labour shortages and severe weather.

Congress approved the funding and authorized the one-time spectrum auction by the FCC for advanced 5G-Grade Wireless spectrum in the band known as AWS-3 to help meet the rising spectrum demands of Wireless consumers.

In 2014, the FCC auctioned AWS-3 spectrum licenses for commercial use, but some winning bidders defaulted on their payment obligations, and about 200 licenses were returned to the FCC's inventory.

Reference Sources

1. thestarmy - US spectrum auction raises $3.5 billion, will fund replacing Chinese telecom equipment
2. nikkei - US spectrum auction raises $3.5bn, aids replacing Chinese telecom equipment

Oracle shed 21,000 roles over the past year amid wave of AI layoffs from tech giants

Oracle has cut 21,000 jobs globally over the last fiscal year, accounting for 13% of the company's total workforce.

The cuts were partly due to the adoption and deployment of artificial intelligence (AI) tools, according to the company's latest annual report.

Oracle's Co-Founder and CTO, Larry Ellison, has been at the forefront of AI hype and is now worth $173Bn, according to Forbes. In March, the company warned it would cut thousands of jobs as it faced investor pressure over raising large amounts of debt for its AI buildout.

The full extent of the layoffs was not disclosed.

Reference Sources

1. dailymail - Home
2. dailymail - YourMoney
3. telegraph - Larry Ellison cuts 21,000 jobs at Oracle as AI replaces human workers
4. wsj - Oracle Sheds 21,000 Jobs as It Continues AI-Focused Streamlining
5. cnbc - Oracle shed 21,000 roles over the past year amid wave of AI layoffs from tech giants

Alibaba sues US Department of Defence for branding it a 'Chinese military company'

Chinese E-Commerce giant Alibaba has filed a lawsuit against the US Department of Defence over its designation as a "Chinese military company" on a Blacklist of companies it says have ties to the Chinese military.

The lawsuit, filed on Tuesday in San Jose Federal Court, contests the Pentagon's decision to include Alibaba in a list released this month of companies it says have ties to the Chinese military.

The lawsuit claims that the determinations have no basis in fact or law.

"Alibaba is not a Chinese military company nor part of any Military-Civil fusion strategy," a company spokesperson said. "the decision to place Alibaba on...is arbitrary and capricious, and we are filing a lawsuit against the Department of war to demand removal from the list." the Pentagon recently added Alibaba and other high-profile Chinese companies, including the world's largest EV manufacturer BYD, to the so-called 1260H list.

The congressionally mandated Blacklist includes Chinese companies with alleged ties to the People's Liberation Army that undermine US national security.

Reference Sources

1. aawsat - Alibaba Sues Pentagon over Blacklist Designation
2. hongkongfp - China's Alibaba to sue after US Pentagon blacklists it as 'military-linked' firm
3. thestarmy - Alibaba sues US Department of Defense for branding it a 'Chinese military company'
4. ft - Alibaba sues Pentagon over inclusion on Chinese military blacklist
5. brusselstimes - Chinese giant Alibaba sues US for blacklisting it

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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