Temu owner PDD reports Q2 revenue up 8.1% YoY to ~$16.72B, missing estimate of ~$17.17B, net profit down 12% YoY to ~$4.04B, above ~$3.63B estimate (Tracy Qu/Wall Street Journal)

PDD reported Q2 revenue of $16.72 billion, an 8.1% year-over-year rise but below the $17.17 billion forecast, and net profit of $4.04 billion, down 12% yet above the $3.63 billion estimate. Nvidia announced full-scale production of its Groq 3 LPX AI accelerator, with Nebius as the first customer and SpaceX planning to use Vera CPUs. Xiaomi unveiled a 3 nm Xring O3 mobile SoC, IBM revealed a dual-architecture processor for Z/OS and Arm workloads, and AMD’s share of Q2 x86 client CPU shipments increased to 30.3%.