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Straits Times
03-07-2025
- Business
- Straits Times
China's DeepSeek ramps up hiring with job posts on LinkedIn
Sign up now: Get ST's newsletters delivered to your inbox DeepSeek's US rivals like ChatGPT-owner OpenAI and Facebook-parent Meta Platforms have been racing to lure top AI talent. – DeepSeek is ramping up its recruitment on LinkedIn, suggesting the Chinese artificial intelligence start-up may be looking to lure talent from outside its homeland. The Hangzhou-based company posted 10 positions on the Microsoft-owned jobs and networking platform over the last week, its first listings for several months. The jobs, posted in Mandarin along with their descriptions, included three roles focused on artificial general intelligence, or AGI. The positions are based in Beijing and Hangzhou. DeepSeek did not immediately respond to a request for comment. Similar jobs were posted earlier in 2025 on popular Chinese recruitment sites. In 2021, LinkedIn shuttered a localised version of its platform in China, meaning many potential job candidates viewing the listings would be based outside of the country. DeepSeek's rivals in the United States like ChatGPT-owner OpenAI and Facebook-parent Meta Platforms have been racing to lure top AI talent in a quest to dominate what could be world-changing technology. Top stories Swipe. Select. Stay informed. Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Singapore Over 40% of Singaporean seniors have claimed SG60 vouchers: Low Yen Ling Singapore Man to be charged after he allegedly damaged PAP campaign materials on GE2025 Polling Day Singapore $1.46b nickel-trading scam: Ng Yu Zhi's bid for bail midway through trial denied by High Court Asia 4 dead, 30 missing after ferry sinks on way to Indonesia's Bali Asia Thai opposition to hold off on no-confidence vote against government Singapore Pedestrian-only path rules to be enforced reasonably; focus on errant cyclists: Baey Yam Keng Singapore Train service resumes across Bukit Panjang LRT line after power fault led to 3-hour disruption
Yahoo
13-05-2025
- Business
- Yahoo
SoftBank Profit Doubles After ByteDance, Didi Values Surge
(Bloomberg) -- SoftBank Group Corp.'s profit soared 124% after valuations of tech startups like ByteDance Ltd. rose, in a boost for the Japanese company's aggressive data center investment plans. A New Central Park Amenity, Tailored to Its East Harlem Neighbors As Trump Reshapes Housing Policy, Renters Face Rollback of Rights What's Behind the Rise in Serious Injuries on New York City's Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies LA Mayor Credits Trump on Fire Aid, Stays Wary on Immigration SoftBank, which on Tuesday reaffirmed plans to invest up to $30 billion in ChatGPT-owner OpenAI, reported net income of ¥517.18 billion ($3.5 billion) in its fiscal fourth quarter. That was helped by the Vision Fund, which swung to a profit of ¥26.1 billion thanks to gains in investees such as ByteDance and China's Didi Global Inc. SoftBank founder Masayoshi Son and OpenAI co-founder Sam Altman unveiled the US-based Stargate project in January with promises to deploy $100 billion into data centers and other infrastructure. That could rise to more than $500 billion over time. Maintaining a healthy cash flow and balance sheet is key to securing the billions of dollars needed at minimum cost. Son and Altman's undertaking however coincides with mounting macroeconomic turbulence. Their bid has been stymied as debt investors and bankers reassess the value of data centers, Bloomberg News reported. SoftBank has yet to begin detailed discussions on how the large-scale data center rollout will be financed. 'Uncertainty is growing and it's becoming harder to see the landscape ahead,' SoftBank Chief Financial Officer Yoshimitsu Goto said during an earnings conference. 'But SoftBank has not changed course for 44 years. We are not changing now.' He said it wasn't true that the Stargate endeavor has slowed. 'We don't believe the plan has become stuck due to tariffs,' he said. 'What's important is that we bring about each project, one by one.' More broadly, SoftBank's earnings jump reflects its exposure to the startup market after years of Vision Fund investments into hundreds of tech companies. In the March quarter, investors re-rated Chinese firms such as ByteDance that are managing to sustain growth despite economic slowdown back home. Online video darling TikTok has kept up a strong pace of international growth, while SoftBank was also helped by share price increases at Didi and Auto1 Group SE. That outweighed declines at baby-products retailer BrainBees Solutions Ltd. and stock price falls at other publicly listed Indian portfolio companies such as food-delivery app Swiggy Ltd. and e-scooter maker Ola Electric Mobility Ltd. Vision Fund 2, which is backed by SoftBank, logged a $708 million loss, it said. Global investment in AI computing is helping to lift sales at SoftBank's chip unit Arm Holdings Plc and SoftBank is further strengthening its hold on chip technologies Son believes crucial for AI. It's announced a $6.5 billion acquisition for chip designer Ampere Computing LLC, that it expects to close in the second half of the year. For the year ended March, SoftBank earned a ¥1.15 trillion net income, its first profit in four years after springing back from a loss of about ¥228 billion in the previous year. What Bloomberg Intelligence Says SoftBank Group's reported loan-to-value might breach its 25% limit after including the $6.5 billion acquisition cost of Ampere Computing, an investment of up to $30 billion in OpenAI and an additional sum in Stargate, assuming asset values stay unchanged vs. March. LTV had already reached 18% in March from 8% a year ago. It might need to raise more from asset-backed financing or sell assets to manage its balance sheet. — Sharon Chen, BI Credit Analyst --With assistance from Edwin Chan. (Updates with executive comments and analyst commentary.) The Recession Chatter Is Getting Louder. Watch These Metrics US Border Towns Are Being Ravaged by Canada's Furious Boycott Two Million Meat Sticks a Day Isn't Enough for Chomps' CEO Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women's Sports Franchise ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
31-01-2025
- Business
- Reuters
Intel rises on revenue beat as CEO hunt dominates investor focus
Jan 31 (Reuters) - Intel (INTC.O), opens new tab shares rose 1.7% premarket on Friday as the chipmaker's quarterly revenue beat low expectations and investors focused on its search for a new CEO to steer the company through one of its most difficult periods. Former CEO Pat Gelsinger was ousted last month, well before the completion of his four-year plan to turn around the company from years of missteps in its manufacturing operation and missed opportunities around the artificial intelligence boom that have left the erstwhile American chipmaking icon far behind its rivals. Intel also forecast current-quarter revenue below estimates on Thursday. "At this point bad results from Intel no longer burn the way they used to as investors are likely growing numb to the company's travails," Bernstein strategists said in a note. "And frankly, beats or misses on their business fundamentals likely take a back seat for now to the impending CEO transition (if we get one) and what they and the board might choose or not choose to do with the company." The company has named CFO David Zinsner and senior executive Michelle Johnston Holthaus as interim co-CEOs while the board conducts a search for a new leader. Once the dominant force in the PC market, Intel has in recent years been losing share to rival Advanced Micro Devices (AMD.O), opens new tab. It also passed on an investment in ChatGPT-owner OpenAI, before the success of the chatbot revolutionized the tech industry. Companies looking to capitalize on generative AI technology have prioritized spending on specialized AI processors that can churn huge amounts of data, crimping demand for the traditional server processors that Intel sells. "Strategic alternatives will be the primary bull case for the foreseeable future, but we don't see how this gets done with the Foundry business behind on technology and fully reliant on product business with no real foundry customers in sight," Jefferies analyst Blayne Curtis said. Shares of peers Nvidia (NVDA.O), opens new tab were down nearly 1% before the bell on Friday, while Advanced Micro Devices (AMD.O), opens new tab was up about 1%. In 2024, Intel fell 60%, while AI chip leader Nvidia (NVDA.O), opens new tab rose 171%. Qualcomm (QCOM.O), opens new tab gained 6% and AMD lost 18% in the same time period. Intel's 12-month forward price-to-earnings ratio is 24.67, compared with Nvidia's 28.17, and AMD's 23.45.
