industry

The wine industry believed it had its new El Dorado in China. Until China asked its officials to stop drinking

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a few days ago Dynasty Fine Winesa wine company listed on the Hong Kong stock exchange, had to share the class of information that makes shareholders’ coffee (or wine, as the case may be) choke: their 2025 profit forecast has plummeted more than 50% with respect to 2024. The news might not have interest beyond its board if it were not for the fact that it connects with a larger trend: changes in the Chinese market that have led to the Asian giant ceasing to be the inexhaustible gold mine that the sector imagined in his day. And in part it is due to the guidelines on morality by Xi Jinping. What has happened? That the Western alcohol industry’s dream of finding a new big gold mine in China seems to be slowly receding. And this is especially noticeable in wine cellars. After years of accelerated growth, in which the Asian giant seemed increasingly interested in wines from Australia or France, demand has started to slow down. The signs are clear. has fallen per capita consumption, imports, production and there are companies such as Treasury Wine Estates, Pernord Ricard, Diageo or Dinasty Fine that have seen how it gets complicated the panorama in the country. China is no longer in the news for increasing its world import quota from 1 to 8% in record time to make headlines for the drop in demand. What does the data say? There are many indicators to pull from. Of all, perhaps the most eloquent is the one published by the Interprofessional Wine Organization of Spain (OIVE), based in turn on Chinese customs data. The organization recently revealed that in 2025 imports suffered a decline of 26.7% in volume, although the increase in the average price reduced the fall to 14.6% in terms of value. The “prick” affected exporters like France or Chile. Is it the only indicator? Not at all. Another producing country that has also suffered the ups and downs in the Chinese market is Australia. Although the wineries there received good news in March 2024when Xi Jinpuing lifted the tariffs that penalized his wine exports, the joy was short-lived. A few months ago Wine Australia published a report in which it recognizes that shipments of merchandise to other countries were reduced by 6% in volume and 8% in value in 2025, a decline that is partly explained by the fall in two markets: the United States (-12%) and especially the Chinese one, which contracted another 17%. Are only imports falling? No. Just a year ago the University of Adelaide published a study which shows that the changes in the Chinese wine market are much deeper and more complex. Per capita consumption, for example, skyrocketed during the first decade of the century, then registered fluctuations until 2016 and from that year on it suffered a decline that extends at least until 2022, the last year analyzed. The production curve is not good either. “We have seen how the (Chinese) market has completely dried up,” he complained recently in statements to The Wall Street Journal (WSJ) the owner of a winery that exports wine from New South Wales, Australia. Your case is illustrative. Until 2019, 40% of its profits came from China. The collapse in sales in that market has now translated, however, into a surplus that will force him to let 30% of his grapes rot this year. Has the market changed that much? It seems so. In November 2025 the Hong Kong newspaper South China Morning Post (SCMP) published an extensive report which made its premise clear from the same headline: “European wines stay on the shelves while China looks for cheaper drinks.” In the chronicle he talks about a contraction in the consumption of both premium wines and traditional spirits, while other options such as craft beer seem to be gaining ground. The information is accompanied by a graph that reflects the fall in wine imports between 2017 and 2023. If there were any doubts about whether the trend only affects European or Australian wineries, a few weeks ago The New York Times public another report in which he explains how the drop in demand affects the distilleries of Maotaiin China itself, dedicated to the production of baijiua powerful liquor. Why is demand falling? There are several factors. Influences the economic slowdown and the hangover real estate crisiswhich have in turn affected spending on alcohol, especially when we talk about expensive imported wines. There are also analysts who they point to a change in consumer habits, especially among the youngest. Recently Global Timesa Chinese newspaper linked to the communist government, published a report in which he told precisely how the new generations show less interest in drinking. In that aspect they connect with other societies that live the same phenomenon. Is it the only reason? No. There is another. And although a priori it may seem minor or secondary, it is relevant enough for WSJ I related it directly with the decline of the wine market. Which is it? The position of the Chinese Government. A few months ago the Executive headed by Xi Jinping issued a strict guideline in which it prohibits the serving of alcohol, luxury dishes or cigarettes at official meals. The objective: end excesses. “Extravagant banquets and excessive alcohol consumption were a regular part of official life in China. But such excesses, long criticized by the public, have come under increasing scrutiny. As part of a new push to ensure discipline, China has imposed a widespread ban on alcohol at official receptions,” it proclaims. a statement published in May 2025 by the Information Office, which warns: “Excessive alcohol deteriorates the image of officials.” And is it being fulfilled? Although it cites the rest of the economic and cultural factors that influence demand, WSJ points out the government guideline as one of the factors that explain the change in trend in China. He even shares a concrete example: last year during the conference of a state-owned … Read more

build the largest drone industry without China’s help

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A modified commercial drone can cost less than a mid-range mobile phone and still be able to destroy armored vehicles valued in millions. Hence, in recent conflicts, these systems are being lost at such a rate that their production is closer to an industrial logic than to the traditional manufacture of weapons itself. Ukraine has now taken another leap. Being autonomous in the middle of war. Yes, I counted a few days ago the new york times that Ukraine has achieved a relevant milestone in its military industry, and it has done so by developing drones capable of operating practically without direct components from China. It is not a trivial topic. In fact, progress does not arise from comfort, but from the strategic need to reduce dependencies in a context total war. The transition reflects a profound change in the way weapons are produced, one where self-sufficiency becomes as decisive an advantage as combat performance itself. Drones and figures. Ukraine had opened numerous russian drones finding inside a skeleton of technologies and raw materials that came, on the one hand, from their supposed “allies”and on the other from china. Ukraine now hopes that no one tells it the same. The conflict has elevated drones to an unprecedented industrial scale, to the point that they are already attributed more than 90% of Russian casualties according to Ukrainian commanders. In addition, production has also skyrocketed: companies like Ukrainian Defense Drones manufacture up to 15,000 antennas per dayand the use of cheap drones of about $500 has become a key tool to balance the scales against an enemy superior in resources. This logic requires manufacturing in large quantities, assuming high loss rates in missions, and prioritizing volume and speed over perfection. Reduce dependency piece by piece. From that perspective, the advance towards “China-free” drones is progressive and partial, but significant. In just one year, Ukraine has gone from depending almost entirely on Chinese components to reducing that proportion to around 38%replacing key parts such as structures, controllers, antennas or transmission systems. This process has involved rebuilding entire supply chains and developing our own technical capabilities in record time, with European support to fill critical gaps. The real limits of independence. With everything and despite the advances, total autonomy remains complex. There are materials such as carbon, batteries or certain electronic components that still depend on global chains. dominated by Chinaeven when assembled outside its territory. This reveals an uncomfortable reality, since completely eliminating that dependency is not viable in the short term, especially when the cost remains a decisive factor in a war where thousands of units are constantly needed. Production, war and negotiation. They noted in the Times that the development of its own industry not only responds to immediate military needs, it also has political implications. Ukraine thus seeks to strengthen its position in ffuture negotiations demonstrating that it can sustain its war effort without depending on third parties. At the same time, diversifying suppliers reduces China’s pressure capacity, introducing a new balance in the global supply chain. Constant innovation. Practically since the beginning of the Russian invasion in 2022, the pace of technological adaptation in Ukraine has been breaking with traditional defense schemes. Drone designs are updated monthlyif not before, based on their performance on the front, in a continuous cycle of trial, trial, error and improvement. In short, a model that, driven by the urgency and human cost of conflict, is redefining how military technologies are developed in the 21st century, and where half the planet is asking he source code to copy it. Image | Lycksele-Nord, Maxim Subotin In Xataka | Ukraine has become the world’s leading specialist against Iranian drones. And he won’t share his antidote In Xataka | We thought we had seen everything in Ukraine, but no: the soldiers’ scissors have mutated into something similar to a laser

become an oasis of industry and data centers

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The energy panorama that renewables are leaving in the Spanish state leaves some interesting realities, such as Empty Spain is energetic Spainwith regions such as Castilla-La Mancha, Castilla y León or Aragón as prominent hubs that supply other Autonomous Communities. Exporting it is all well and good, but surplus energy provides an opportunity to get more out of it. As? Becoming an industrial oasis. Aragón knows this and has everything it needs: abundant energy and good communications (another thing it’s how they are). And it has already started with data centersbut it’s just the beginning. Why is it important. Because the window of opportunity for the Aragonese electrical system in Europe is where two trends come together: The energy transformation, leaving fossil fuels behind in favor of renewables, a subject of which he is an advanced student. The digital economy, with data centers at the forefront of the new advanced industry with high electrical demand. The opportunity is real, but it doesn’t last forever. Aragon competes against other regions at the European level to establish itself as the best place to build this digital infrastructure in the eyes of those who make the decision in search of a territory with abundant and reliable energy. context. Aragon has energy. In fact, it produces twice the energy it consumes. Its energy generation is a mix with a high weight of renewables. More specifically and as stated in the report by the Basilio Paraíso Foundation and PwCAt the end of 2025, the Aragonese community has 13,793 MW of installed power, of which 82.5% comes from renewables (mostly wind and solar). Of the 22,365 GWh that it produces per year, it consumes only 10,659 GWh. In short: you have 11,700 GWh per year to spare. Historically, the Aragonese system has exported this surplus, but now it wants to convert it into a differential strategic asset in the event of the eventual arrival of high value-added industries. In figures. Throughout the article we have already been sliding some numbers that better outline the Aragonese energy scenario according to the aforementioned report and the Aragon Energy Plan 2024-2030which we summarize here: Aragón produces 22,365 GWh per year and only consumes 10,659 GWh. It has “left over” 11,700 GWh per year. 82% of its electricity already comes from renewable sources. Data centers already account for 14% of the electricity consumption of the entire autonomous community. In 2025, electricity demand increased by 7.2%: the key is in the new large consumers. By 2030, the objective is to attract new demand of 5.4 GW: 3.7 GW associated with data centers and 1.7 GW for other large electro-intensive consumers. The challenge is not energy generation, but the connection. The link between this available energy and the ability to use it effectively in industries with high energy demand is having an evacuation and connection infrastructure. In short: being able to bring energy to where it is needed. He draft plan 2024-2030 establishes a balance between the supply of connection points, of 15.2 GW, and the potential demand (13.84 GW). Of course, as long as they materialize in a timely manner, so that a potential promoter finds the connection point where and when they need it and that the supply is also stable enough. A bottleneck called Zaragoza. The problem is in Zaragoza and its surroundings. The capital of the community is the environment with the most pressure as it is the place that attracts the most projects. So: Of all the connection capacity that has already been authorized, only 12.7% is operational. Available capacity in the distribution network plummeted to 3.48 MW at the beginning of 2026, compared to 256 MW available in September 2024. Almost half of all requested power (48%) corresponds to data centers. The solutions are on the table. The Basilio Paraíso Foundation report also provides the levers for Aragón to take advantage of this window of opportunity. The most urgent is to reinforce the electrical network of Zaragoza and its surroundings, the bastion of this reindustrialization. In this sense, they call for putting order in the permit queue, prioritizing those with their homework done to release the capacity that is reserved but not being used. The network is not built overnight, so they call for anticipating needs. Finally, it advocates meeting the deadlines of the Plans and Projects of General Interest of Aragon, to offer guarantees for large strategic projects. In Xataka | Aragón is not afraid of AI: it has just approved three more new mega data centers in full commitment to renewables In Xataka | Quietly, Spain is solving its biggest energy problem: becoming the world’s second largest battery power Cover | SQUARE and Wikimedia

the concert industry is unleashed

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Shakira will close her world tour in Spain with a temporary stadium built specifically for her by Live Nation and which will be called Shakira Stadium. It is not the first time it has happened (Adele did it in Munich in 2024) but the phenomenon speaks of something deeper: the live industry has entered a phase in which mainstream artists do not adapt to existing venues. Rather, the enclosures adapt to them. When he said it. Was in the RTVE program ‘Al cielo con ella’broadcast on March 15: will close its world tour in Spain with this exclusive stadium. The artist stated that “it was going to be something from another world, a production that I think has not been seen before in Spain.” Without revealing dates or location, he confirmed that there will be more than two nights of concerts, a kind of residency. Among the possible locations there are means that They point out the Iberdrola Music in Villaverde, the same space where Mad Cool is celebrated. Continuing success. Shakira is right now one of the main Latin artists in the world. His Women No Longer Cry World Tour has collected 421.6 million dollars and sold 3.3 million tickets in almost a hundred concerts: it is the highest-grossing Latin tour in history, surpassing the Luis Miguel Tour 2023-24 that held the previous record. The tour started in February 2025 in Rio de Janeiro and has toured Latin America, the United States and Canada. The leg on the other side of the Atlantic, stopping in the Middle East, India and Egypt before reaching Spain, will close the tour. Come on, the Shakira Stadium is more than justified. The precedent: Adele. In August 2024, Adele performed ten times at the Adele Arenaa temporary enclosure built on the grounds of the Messe München in thirty days. It took 700 workers to build it and it had a capacity for 80,000 people. Total attendance was around 730,000 spectators. A 220-meter LED screen crowned an infrastructure whose total cost was estimated about 130 million dollars. The advantages. What characterizes This type of stage on conventional stadiums is the scale: a conventional touring stage is 60 meters wide, Adele’s was 220. “The fact of not having to tour the show means that the scale can be much larger,” explained production director Malcolm Birkett. Significantly, Adele’s promoter was also Live Nation. The stadium also included Adele World: a perimeter ring with an amusement park, a replica of a London pub and additional performances. It is likely that Shakira will set up comparable facilities. The “staging” of the live. To understand why something like the Shakira Stadium happens, you have to follow the music industry over the last fifteen years. When the streaming revenue from the sale of physical formats sank, live streaming emerged as the economic core of the business. Today, that process is completely consolidated: the global live music market has an annual growth rate of 8.78%. Live Nation alone reported $23 billion in revenue in 2024, and 151 million attendees at its events. In Spain, the Association of Music Promoters billed only with tickets 725.6 million euros in 2024, 25.32% more than the previous year. This growth has a very specific architecture. As we told at the time1% of artists generate 60% of revenue from live performances. The average ticket price of the top 100 tours rose more than 20% between 2022 and 2024. The market is growing, but is concentrated. Dynamic prices, VIP packages and Ticketmaster commissions have turned big concerts into luxury goods. The barrier to entry is increasingly higher for the public, and the losers are also the artists who do not have the capacity to fill stadiums. The logic of the own stadium. And so we have things like the Shakira Stadium. When the artist doesn’t need to move the stage between cities, he can build something that would be impossible to fit into a traveling tour. The investment is enormous, but the concentration of the public in a single point for several nights allows it to be amortized. And it’s worth keeping in mind, too, that Live Nation, whose business practices are being investigated It is the only company in the business with the capacity to execute it on this scale. In Xataka | We Spaniards have stopped watching TV, going to the cinema and reading books: the only thing that interests us is going to concerts

A robot rental industry has been created in China that has plunged prices in a year, but it has an asterisk

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From spring 2025 to winter 2026, renting a humanoid robot for a business event in China has gone from costing between 10,000 and 20,000 yuan a day to being listed at 1,796. Robot dogs already cost 78 yuan a day in JD.comless than 10 euros. A drop of 80% in twelve months. Why is it important. Beyond the price war, this is the first real scale laboratory in the humanoid robot business, and what happens says a lot about the real state of an industry that moves a lot of money in financing but still needs a human behind each machine. In figures: Between the lines. The most interesting number in this matter is not any of the above, but this: every robot deployed today arrives with a human engineer behind it. This technician assumes transportation, calibration, live operation and unforeseen events. The actual model is not ‘Robot as a Servicebut rather ‘Robot + Person as a Service’. The logic of SaaS (marginal costs that approach zero when scaling) does not apply here. Each new unit in the catalog implies a new payroll. The bottleneck is therefore not in the supply of machines, but in the supply of people capable of operating them. The context. Qingtianzu, the platform controlled by Zhiyuan Robotics and backed by Hillhouse Capital, connects more than 200 suppliers with companies that need robots for presentations, inaugurations or weddings. like a marketplace. During the Chinese New Year, their orders grew by 70% and exceeded 5,000 orders in one week. JD.com saw searches for “robot” increase 25-fold. The demand exists, the problem is the cost structure. Yes, but. Rent has fallen by 80%, but operating costs have barely budged: transportation, engineers, insurance, logistics… Everything remains basically the same.. The payback period cited by operators (about six or eight months) assumes about ten monthly orders at 2,500 yuan on average. But that works during peak demand. Outside of the holiday weeks, that rhythm is broken. The big question. 65% of orders are for entertainment and marketing: robots that dance or parade at fairs and those types of cute but short-lived acts. Intermittent uses by definition. To have a stable base, the sector needs to enter factories, hospitals and logistics. But experts have already warned: the majority of current humanoids are in the “cerebellum” phase, executing instructions without autonomous decision. That jump, according to the most optimistic estimatesit will take about five years. The panoramic. In a matter of months, China has built an industry with funded platforms, distributed logistics and real demand. It is the first country that has brought humanoid robots to the mass market, even if it is to perform in shopping centers and shake hands in dealerships. TrendForce foresees more than 50,000 units shipped in 2026, 700% more. The sector has its own precedent: drones for shows, which did not take off for their industrial uses but for the shows nightlife in cities across China. Robot rental can follow the same script. The difference is that an autonomous drone no longer needs a pilot. The humanoid robot still does. In Xataka | There is a Chinese startup creating the most amazing robots of the moment. It’s called X Square Featured image | Andy Kelly

We believed that AI was killing jobs in the tech industry. It is actually changing the rules of the game: Crossover 1×41

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It is possible that in the future AI will take away our jobs, but at the moment it is being taken away from very few. This was stated in a recent Anthropic study on the impact of AI on the labor market, and this is a perfect perch to present the debate that concerns us in Crossover 1×41. And it is a special edition because we have as a guest Jordi Arrufiof Talent Arena. This event, which is held within the framework of the Mobile World Congress in Barcelona, ​​is aimed at future developers and also senior profiles, and with it we had the opportunity to talk about how AI is changing the rules of the game for professionals in the sector. To begin, we must dispel myths. At least for now, because although there was a time that AI was going to replace programmers, what is being seen according to Arrufí is that The demand for technological talent is increasing. In fact, what is expected is that the impact of AI will cause this technology to begin to create jobs that we cannot even imagine. We also couldn’t imagine that with the rise of the Internet there would be frontend and backend developers or web designers: the same in this case. Many professionals may fear that future, and here the recommendation to be prepared for the future is that these professionals combine your technical capacity (‘hard skills’) with human capabilities (‘soft skills’) such as critical thinking, leadership or communication. The frenetic advancement of AI also makes the ability for continuous learning and adaptability key in these changing times. He vibe coding has changed the paradigm, and has opened this area even to users without basic programming knowledge. Plus there is something striking here. A real opportunity for current professionals and those to come, because if something is clearly taking off it is interest in technological sovereignty. Europe seeks to recover ground against the US and China through investments in chipsFor example. Public funding is especially critical to retaining talent and prevents professionals from emigrate for higher wages. We also had the opportunity to talk about another of the areas of greatest projection: robotics. It is expected a imminent adoption of humanoid robots in industry and in logistics processes. Domestic robots will take longer, no doubt, but what seems clear is that by 2035 the world will be dominated by AI agents and massive advances in fields such as biotechnology. This is not just about AI: It’s about talent, money and who adapts faster and in a more accurate way. On YouTube | Crossover In Xataka | A startup from Malaga is the most used European AI app in the world according to Andreessen Horowitz. It’s called Freepik

The “bottom of the barrel” was the cheapest waste of the oil industry. The war in Iran has just turned it into an unaffordable luxury

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Historically, the fuel oil has been known in the oil industry as the “bottom of the barrel.” Typically cheap and underappreciated, this byproduct comes from the bottom of distillation towers, the equipment where crude oil is heated and split into multiple products. In fact, very often, this fuel cost less than a barrel of crude oil, and refineries sold it at a loss as it was a simple remnant of the process necessary to manufacture high-value products such as diesel. However, as expert Javier Blas warns in your column for Bloombergthe Iran war has turned the industry upside down. That waste that no one wanted has become an ultra-expensive raw material overnight, which is bad news for the global economy. Despite being overshadowed by other distillates, the fuel oil plays an immense role in the modern world, driving container ships that act as the workhorses of globalization. The breakup of a market at the limit. In the current conflict, all eyes they are set in the rises and falls of crude oil. However, the real drama is hidden in the physical maritime bunker markets, where the traditional relationship between the price of crude oil and refined products has been completely broken. With crude oil hovering around $100, the fuel oil It shouldn’t be much more expensive. In reality, it is trading at $140 a barrel in Singapore and almost $160 in the Emirati port of Fujairah. A report of Lloyd’s List explains that the average price of the fuel oil of very low sulfur content (VLSFO) in the 20 main bunkering centers reached $1,005 per ton, double its pre-war cost and the highest figure since the Russian invasion of Ukraine. For his part, analyst Clyde Russell warns in his column Reuters that, while crude oil futures are confident of a solution, prices for physical cargoes are sending signals of an impending crisis and a supply chain that is buckling under pressure. The missing link. The key to this specific crisis lies in geography and geology. As Blas points outrefineries in Saudi Arabia, Kuwait and the United Arab Emirates produce 20% of all fuel oil sold internationally. Added to this is a crucial geological factor: the crude oil from the Persian Gulf generates much more fuel oil than that of other regions. For example, when distilling a barrel of Saudi flagship crude oil (Arab Light), approximately 50% of what comes out is residue for fuel oil, compared to 33% left by US WTI crude oil. This explains why the blockade of the Strait of Hormuz is a death trap specifically for this byproduct. The logistical panic. The real urgency is no longer just the price, but physical availability. The shipping industry has raised the alarm because supplies are critically low in Singapore and Fujairah, two of the world’s most important bunkering hubs. “If we do nothing, we risk ending up with dry supply points in Asia,” Vincent Clerc sharply warnedCEO of shipping giant Maersk. To avoid collapse, Maersk needs to be proactive and is transporting its own fuel around the globe to have the right amount in the right place, an unprecedented challenge that Clerc compares to the logistical juggle experienced during the Covid-19 pandemic. On a day-to-day basis, the charter market is paralyzed. Scott Bergeron, CEO of Oldendorff Carriers, confess to Lloyd’s List that there are problems getting fuel quotes, and that “availability for April is a big question mark.” The operational consequences will be drastic: Global slowing: Ships will reduce their speed to conserve fuel. Port congestion: Massive congestion is expected in ports that still have reserves. Accelerated scrapping: Older and inefficient fleets could be forced to be scrapped due to the enormous costs. Furthermore, according to Clyde Russell in your column for ReutersAsian refiners are cutting production, and countries like South Korea could restrict exports, pushing dependent nations like New Zealand into rationing measures. The environmental dilemma. This severe lack of supply is even putting pressure on climate regulations. Given the suffocating lack of distillates, The Maritime Executive details that the regulators could be tempted to temporarily suspend IMO 2020 emissions regulations. This would allow ships to return to burning heavy fuel oil (HSFO) widely, freeing up ingredients for other critical sectors. Meanwhile, ships already equipped with scrubbers (scrubbers) can still legally burn the cheaper HSFO. As the price gap between clean and dirty fuel widens, these shipowners are realizing massive savings; In fact, this price spread reached $189.50 per ton in Singapore. The current crisis leaves no room for maneuver. As Javier Blas saysthe world has already spent its main lines of defense against this oil shock: compromised refineries have been avoided and strategic reserves have been emptied. Looking to the future, the only variable capable of balancing consumption with a meager supply is the “destruction of demand” through suffocating prices. Ship fuel may come from the bottom of the barrel, but it has proven to have the ability to sink or keep afloat international commerce. Today, without a doubt, it has become the world’s main problem. Image | Photo by william william on Unsplash Xataka | The US Navy already knows what is going to happen to the planet: the mission to open Hormuz is the closest thing to a suicide operation

Spain is betting its future in the semiconductor industry on a single card: gallium chips

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SPARC Foundry is one of the best assets that Spain can cling to to get on a train, that of semiconductors, currently guided with a firm hand by USA, South Korea, Taiwan, China and Japan. This Galician company, however, does not pursue producing silicon chips. In this area, competing with the five powers I just mentioned is essentially impossible. SPARC’s plan involves building a manufacturing factory in the Valadares Technology Park, in Vigo. next generation photonic semiconductors. The interesting thing is that these chips will not be silicon; They will be manufactured using gallium arsenide (GaAs), indium phosphide (InP) or gallium nitride (GaN), and will most likely have a leading role in the telecommunications, defense, automotive, consumer electronics, quantum computing or the aerospace industry. Be that as it may, SPARC will not tackle the GIGaNTE project alone. Indra leads it with a 37% stake in SPARC Foundrywhich places the latter group as the majority partner of the company specialized in the production of chips. According to SPARC and Indra, the Vigo semiconductor plant will be operational during the first half of 2027 and will have the capacity to manufacture up to 20,000 wafers per year when it is able to work at full capacity. An interesting note: GIGaNTE, the name of this project, has been designed around the chemical formula of gallium nitride (GaN). Gallium aspires to be the protagonist of the next generation of chips Photonic integrated circuits use photons to process and transmit information. Photons are the elementary particles responsible for forms of electromagnetic radiation, including the manifestation of visible light. They have no mass and are capable of traveling in a vacuum at a constant speed: the speed of light. However, something worth not overlooking is that although we are referring to them as particles, they also manifest as waves, hence the existence of the quantum phenomenon known as ‘wave-particle duality’ to identify the wave nature of light. Although, as we have seen, SPARC will produce photonic chips, the core of its business will revolve around gallium arsenide and gallium nitride. Unlike silicon, They are not elementary semiconductors. And they are not because the latter are characterized by being made up of a single chemical element, while gallium arsenide (GaAs) is composed of gallium (Ga) and arsenic (As), and gallium nitride (GaN) is composed of gallium (Ga) and nitrogen (N). SPARC is going to produce photonic chips and the core of its business will revolve around gallium arsenide and gallium nitride The term semiconductor is appearing many times in this article, so it is a good idea that we review what it is about before moving forward. A semiconductor is an element or compound that, under certain conditions of pressure, temperature, or when exposed to radiation or an electromagnetic field, behaves like a conductor, and, therefore, offers little resistance to the movement of electrical charges. And when it is found in other different conditions it behaves like an insulator. In this last state it offers great resistance to the displacement of electrical charges. In elements with electrical conduction capacity, some of the electrons in their atoms, known as free electrons, can pass from one atom to another when we apply a potential difference at the ends of the conductor. Precisely, this electron displacement capacity is what we know as electric currentand we all know intuitively that metals are good conductors of electricity. Curiously, they are because they have many free electrons that can move from one atom to another and, thus, they manage to transport the electrical charge. Gallium nitride and gallium arsenide are semiconductors, and this implies that under certain circumstances they are capable of transporting electrical charge. When the appropriate conditions exist, the mobility of its electrons is much greater than in semiconductors such as silicon or germanium. And this means that its capacity to transport electrical charge is also superior. Another very interesting property of these compounds is their high saturation rate. It is not necessary for us to delve into this parameter to the point of excessively complicating the article, but it is interesting that we know that it reflects the maximum speed at which electrons can move. through the crystal structure of these compounds. This maximum speed is limited by the dispersion suffered by the electrons during their movement. Gallium arsenide transistors can work at frequencies above 250 GHz This property has very important repercussions. One of them is that gallium arsenide transistors can work at frequencies above 250 GHz, which is a quite impressive figure. In addition, they are relatively immune to overheating and produce less noise in electronic circuits than silicon devices, especially when it is necessary to work at high frequencies. On the other hand, gallium nitride can work at very high voltages and reach extreme temperatures without its performance or stability being compromised. Besides, allows manufacturing compact and efficient transformers Because it dissipates little energy in the form of heat, it will most likely play a fundamental role in the charging infrastructure of electric cars and base stations for 5G communications. Image | Generated by Xataka with Gemini More information | SPARC Foundry In Xataka | Spain steps on the accelerator in its particular chip race. And it does so with a total commitment to integrated photonics

The California peach industry has suffered an unprecedented collapse. But it will be repeated, it will be repeated a lot, it will be repeated all over the world

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Richard Lial He lived peacefully in his little house in Escalonnorthern California. He had acres and acres of productive almond trees that he had been exploiting for the last decade. But three years ago, just when costs began to become unsustainable, Del Monte (one of the largest fruit and vegetable companies in the world) made him an offer. A 20-year contract for Lial to exchange its almond trees for the peaches that the company’s large cannery in Modesto needed. Del Monte’s move put on the table some 550 million over the next few years and a business of tens of thousands of tons per season. The problem is that on July 1, 2025, Del Monte Food Corp declared bankruptcythe Modesto plant has closed and, with it, the entire Californian peach industry has collapsed. What exactly happened? Del Monte accumulated a debt of 1,245 million dollars on the day they filed the bankruptcy petition. And the reason is simple: in recent years, the company had been going into debt to make certain purchases in a sector that was in full decline. Today, the world consumes less canned goods and Del Monte executives believed that the only way to survive was to grow and ensure margins. The problem is that, with the rate increase in the months prior to the bankruptcy declaration, interest had doubled to the point of eating into the operating margin (a margin already quite affected by things like Trump’s tariffs that had made cans more expensive). The chaos has lasted for many months, but on February 6 the courts approved the sale of the company in parts. Peach growers breathed easy until they discovered that none of the buyers wanted the plant of Modesto. And why is that plant so important? Well, because Del Monte did not ask farmers to plant the peach they wanted. They were asked to plant the clingstone variety: a peach that simply has no fresh market. The pulp of the clingstone adheres to the bone and makes direct consumption uncomfortable. That is, it is a variety whose only destination is processors. In this case, the Modesto plant consumed 35% of the production of this stone fruit, about 50,000 tons in 2026. They are, to be honest, 50,000 tons that are now almost impossible to place anywhere. But the problem transcends 2026… Because the contracts that Del Monte I was signing Until a few months before the bankruptcy, they forced farmers to make investments of around $8,000 per acre in exchange for the peace of mind that comes with a 20-year contract. They went into debt for it. Many made the transition in 2023. So there are about 140 Californian farmers fgame era and some 1,200 jobs will be lost. But the impact is deeper. And it is not that talking about ‘sector cataclysm’ is not justified, it is that the central issue is the structural dependency that the dynamics of the primary sector are pushing the economy towards. …and that transcends even the peach. Because it doesn’t matter what product we look at: the consequences of financialization are there. It is enough to remember that in 2015 there were only 45 funds specialized in ‘agrobusiness’ in the world; Today they exceed 1,000 and move an enormous amount of money that is radically changed the way everything is managed. The rresult is as simple as it is tragic: Capital arrives, exploits the land as if there were no tomorrow, exhausts the territory’s resources, abuses the local socio-productive fabric and leaves. One day we will realize that there will be nothing left. Image | Ayla Meinberg In Xataka | Spain faces its greatest agricultural challenge of the century: converting 1,901,529 hectares of olive groves into irrigation before it is too late

BYD sales have fallen 41% in China. It is the biggest symptom that something much more serious is happening in your industry.

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They are very specific days but the data is the data. And the data says much more because of what it hides than what it says at first. BYD has fallen 41% in sales during the Chinese New Year holidays. The problem is that the Chinese market seems to be slowing down. And BYD isn’t the only company feeling it. 41%. This is, as we said, how much BYD sales have fallen in China during the month of February 2026 compared to the same period in 2025. The data is provided by CarNewsChina where it is also noted that it is 9.5% less than last January, so the trend does not invite optimism. In the middle they point out that this fall coincides with a Chinese New Year that in 2026 has completely departed the month of February. These are days in which sales inevitably fall because citizens live immersed in the largest migration in the world and this year has been one of the longest festive periods in recent years. In 2025, these festivals occupied the last days of January so that during the remainder of the month they were able to reach cruising speed, which exacerbates the decline. The price war. BYD’s low sales are exacerbated by a stagnating local market. To continue encouraging sales, BYD, Tesla or Xiaomi are offering financing for seven years. Something common in our country but a rarity that is becoming consolidated in China and that makes another detail clear: there is no room to continue lowering prices. Already in January, the China Passenger Car Association announced that sales had fallen 13.9% compared to the same month in 2025. The situation was more complicated among “new energy” vehicles, as plug-in hybrids, electric and extended-range electric vehicles are called. In this case, the drop reached 20%. Obviously, for BYD, Tesla or Xiaomi, who only offer electric or plug-in cars, the former, the situation is more delicate. A must-see. Exporting has become an almost obligatory outlet for BYD. Although its sales have decreased in the local market, exports have exceeded 100,000 units and that represents a growth of more than 50%. And there are already four consecutive months with shipments of this volume, they point out in CarNewsChina. Although BYD’s progress had been slow in Europe until recently, in 2025 they grew 270% on our continent. January has also been a good year (they almost triple their position compared to January 2025, they point out in The Energy Newspaper) and is a boost to a policy that has opted to give more for less money within plug-in vehicles. If we talk about Spain, one of the most important countries for BYD right now outside of China, BYD has placed two electric cars among the 10 best-selling cars so far this year and another two among the five best-selling plug-in hybrids. Much more than a symptom. Although we have focused on BYD sales, what is clear is that in 2026, car sales will not start in China. In The New York Times They reflect the drop in the company’s share price, which has lost part of the support of investors. But the problem goes beyond the brand’s headquarters. Mike Smithfrom Washington and Lee University, points out to the American media that 40% of the vehicle production generated by China is not being used, according to his calculations. This is not the first time that there has been talk of Chinese overproduction of automobiles. The constant evolutions in the product have made products launched just a few months before obsolete, pushing the price war even further. And with a country overproducing cars and evolutions at a dizzying pace, it is logical that the customer stops purchasing, expecting a better car at a better price in the short term. Photo | EEYAUT Waihung on Wikimedia In Xataka | Same car, three names, three prices and one reality: China has chosen Mexico as the spearhead of its exports

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