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Here's your afternoon TNB Tech Minute for Monday, October 27th.

I'm Julie Chang for the Wall Street Journal.

Shares in Qualcomm were up 12% this afternoon

after the company said it's launching new artificial intelligence chips to challenge Nvidia.

The AI 200 will start shipping next year and the AI 250 in 27. In an interview, a senior VP at

Qualcomm said the new chips have high memory capabilities and are energy efficient.

Qualcomm's first customer for the AI 200 chips will be Humane, an AI company established by Saudi Arabia's public investment fund.

Humane simultaneously announced a partnership with Nvidia.

Apple and Microsoft are racing to become the stock market's second $4 trillion company after

Nvidia. Microsoft briefly crossed the threshold earlier this year, following its quarterly

earnings report in July, but the stock price retreated and it now has a market capitalization

of roughly $3.89 trillion, according to

FACSET. Apple is just above that, with the market cap of about $3.9 trillion. Both tech giants are

set to report quarterly earnings later this week. And Amazon says it'll invest more than $1.6 billion

in the Netherlands over the next three years

to prop up its cloud computing and retail businesses there. The investment will shore up

Amazon Web Services and improve retail logistics, product selection, and delivery speeds.

...