South Korea dropped teams led by units of Naver Corp. and NCSoft Corp. from its closely-watched competition to develop the nation’s first sovereign AI model, narrowing the field to three teams.
WeLab, the largest digital bank in Hong Kong, announced that it has secured $220 million in its Series D funding round. The company’s founder and group CEO Simon Loong says the money will fuel its expansion in Southeast Asia. He speaks exclusively with David Ingles and Yvonne Man on “Bloomberg: The China Show.” (Source: Bloomberg)
China’s surprise tightening of margin financing underscores mounting concern among regulators that speculative excess — especially in pockets of the technology sector — risks morphing into a destabilizing bubble if left unchecked.
Amazon.com Inc. is challenging Saks Global Enterprises’ foray into Chapter 11, saying the luxury retailer breached a deal related to the sale of Saks products on its website and that its equity investment in the now bankrupt business is “presumptively worthless.”
Taiwan Semiconductor Manufacturing Co. surpassed expectations with strong profit growth, supporting bullish indications from US chip designers about AI hardware demand.
Illegal sports streaming is surging in the UK, fueled by sites that are largely funded by advertising from unlicensed gambling operators, as fans seek to dodge rising subscription costs on legitimate platforms.
Payment services provider DLocal Ltd is deepening its presence this year in key Asian markets where it operates with a plan to make dozens of hires, including a senior figure, Chief Executive Officer Pedro Arnt said in an interview.
Alibaba Group Holding Ltd. plans to link its flagship online shopping and travel services to its AI app, taking its biggest step yet to build Qwen into its one-stop artificial intelligence platform for consumers.
Hong Kong-based fintech firm WeLab Ltd. has secured $220 million from investors including HSBC Holdings Plc and Prudential Hong Kong Ltd. in its largest round of funding.
Verizon Communications Inc. said service was restored on its wireless network after a widespread outage across the US that lasted for most of the day on Wednesday.
