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☆ China, Xi Jinping's Plan for AI Will Wreak Havoc on the World Economy
  + stars: | 2024-06-02 | by ( Linette Lopez | ) www.businessinsider.com   time to read: +18 min
According to the CCP's plan, by 2020, China was supposed to have "achieved iconic advances in AI models and methods, core devices, high-end equipment, and foundational software." Censorship requirements may slow China's AI development and limit the commercialization of domestic models, but they will not stop Beijing from benefiting from AI where it sees fit. We're not seeing a huge gap between the models Chinese companies have been able to roll out. The current price war is a race to the bottom, similar to what we've seen in the Chinese technology space before. A race to the bottom may simply beggar China's AI ecosystem.
Persons: Xi Jinping, China doesn't, there's, Beijing's, Reva Goujon, We're, It's, ChatGPT, Xie Huanchi, couldn't, you'll, —, Kenneth DeWoskin, it's, Matt Sheehan, they're, chatbot, Sheehan, Ernie Bot, There's, Alibaba, ByteDance's, Paul Triolo, Albright, we've, haven't, DeWoskin, Sam Altman, Elon Musk Organizations: Chinese Communist Party, CCP, Intelligence, Cyberspace Administration, Getty, Freedom, University of Michigan, Deloitte, CAC, Carnegie Endowment, International Peace, Baidu, Bloomberg, Companies, Brookings Institution, Beijing, The Commerce Department Locations: China, Beijing, China's, Hong Kong, Xinhua, , Washington, Brussels, Berlin, Taiwan, US, Xinjiang
☆ India's Jio Financial Services, BlackRock to launch asset management venture
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Anushree Fadnavis/File PhotoMUMBAI, July 26 (Reuters) - India's Jio Financial Services (JIOF.NS), part of billionaire Mukesh Ambani led Reliance Group, and U.S.-based BlackRock Inc (BLK.N) will form a 50:50 joint venture to launch asset management services in India. The two companies are targeting an initial investment of $150 million each in the joint venture, Jio Financial said in a statement on Wednesday. The announcement comes days after Jio Financial Services was demerged from Reliance Industries, with the markets ascribing a valuation of nearly $20 billion to the venture which is yet to build out a business in India's fast growing financial services sector. India's asset management industry has seen rapid growth in recent years and has 44.3 trillion Indian rupees ($540.4 billion) in assets under management. The joint venture will launch a "digital-first" offering following regulatory approvals, said the statement, without giving a timeline within which it plans to begin operations.
Persons: Anushree, Mukesh Ambani, Hitesh Sethia, Larry Fink, AngelOne, Ira Dugal, Kirsten Donovan, David Evans Organizations: Mobile, REUTERS, Financial, Reliance Group, BlackRock Inc, Jio, Jio Financial, Reliance Industries, Group, BlackRock, Jio Financial Services, Thomson Locations: Pragati, New Delhi, India, MUMBAI, U.S
☆ Temasek is betting on all its stars aligning
  + stars: | 2023-07-12 | by ( Anshuman Daga | ) www.reuters.com   time to read: +3 min
That’s one consolation Temasek can take from a tricky year. But Temasek’s hopes for a more prosperous year or two ahead rely on matters mostly out of its hands. Reuters Graphics Reuters GraphicsGranted, Temasek had a busy few years propping up the tiny city-state’s companies, like Singapore Airlines (SIAL.SI), after the pandemic hit. Meanwhile, high valuations in the United States, where Temasek has doubled exposure over the past decade, will limit opportunities. But if Temasek wants to start shining more brightly soon, it’ll need all its stars to align.
Persons: That’s, Temasek’s, Chin Yee, There’s, Antony Currie, Pranav Kiran, Thomas Shum Organizations: Reuters, Temasek, Sequoia, Reuters Graphics, Singapore Airlines, Reuters Graphics Finance, SP Group, U.S, Chartered, Thomson Locations: SINGAPORE, Singapore’s, Asia, Japan, China, People’s Republic, Southeast Asia, India, Singapore, United States
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