Latest news with #DigitalSilkRoad
Malaysia Sun
5 days ago
- Business
- Malaysia Sun
Hong Kong to promote professional services of infrastructure, construction in Indonesia, Malaysia
JAKARTA/KUALA LUMPUR, June 27 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government will promote its professional services in Indonesia and Malaysia related to infrastructure and construction, and explore opportunities for cooperation. The HKSAR government's Commissioner for Belt and Road Nicholas Ho led a delegation to visit the two countries between June 23 and June 26 to learn about the latest economic and infrastructure developments and explore opportunities for Hong Kong's professional services to participate and contribute. During the visit, Hong Kong representatives signed 21 memoranda of understanding with their partners in Indonesia and Malaysia, covering areas of business collaboration and exchanges in professional services. During the stay in Jakarta, Indonesia, Ho visited a data center, an investment development project of a Hong Kong company, to learn about how the data center contributes to the development of the Digital Silk Road in promoting connectivity. "The Association of Southeast Asian Nations is Hong Kong's second-largest trading partner and a key link in the Belt and Road Initiative (BRI). Indonesia and Malaysia are both undergoing rapid infrastructure development, and there is huge demand for professional services in large-scale projects such as the new capital city of Nusantara in Indonesia and the mass rapid transit system in Malaysia," said Ho. Hong Kong, as a "super connector" and a "super value-adder," is connected to international standards in fields such as financing, law, construction engineering, project management, logistics and transportation, and innovative technology, said Ho. Ho said that Hong Kong also has a deep pool of professionals with experience, especially in taking forward public-private partnerships in infrastructure projects, presenting extensive room for collaboration with Indonesia and Malaysia to seize the opportunities brought by the BRI. He added that as an international financial and trade center, Hong Kong possesses the advantages of convergence of capital and talent, and is committed to giving full play to its role as a functional platform for the BRI.
Time of India
6 days ago
- Business
- Time of India
Sam Altman-led OpenAI has a problem with this China's ‘AI tigers' company; says ‘The goal is to…'
OpenAI has raised concerns about Chinese artificial intelligence firm Zhipu AI, calling it a major player in China's bid to dominate the global AI market. In a blog post published Wednesday (June 25), the company said Zhipu AI has made 'notable progress' and is on the 'front line' of Beijing's push to expand its AI influence. Founded in 2019, Zhipu AI has been described by Chinese media as one of the country's 'AI tigers' — a group of high-growth large language model companies seen as key to China's strategy to reduce reliance on US technology. OpenAI highlights Zhipu AI's Beijing links and overseas activity According to OpenAI, Zhipu AI has received over $1.4 billion in backing from various state-linked sources and maintains close ties with the Chinese Communist Party (CCP). The company's leadership 'frequently engages with CCP officials, including Premier Li Qiang,' the blog post said. The ChatGPT-maker highlighted that Zhipu is also expanding globally, with offices in the UK, Singapore, Malaysia, and the Middle East, and joint innovation centers in countries like Indonesia and Vietnam. OpenAI warned that Zhipu's efforts align with China's 'Digital Silk Road' strategy, which aims to embed Chinese AI systems and standards into emerging markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Find Industrial Equipment Providers in Belgium (Learn More) Equipment Manufacturers | Search Ads Undo 'In practice, this means: forming an alliance that co-builds national LLMs with ASEAN and other Belt and Road capitals; opening joint innovation centers; embedding safety labs such as the new Dubai Content-Safety Lab (corroborated by CN sources); and, underwriting projects with Gulf capital (the Saudi Prosperity7 Aramco fund participated in a USD $400M round) and Huawei Ascend hardware, albeit not at Stargate-level scale,' the company highlighted. 'The goal is to lock Chinese systems and standards into emerging markets before US or European rivals can, while showcasing a 'responsible, transparent and audit-ready' Chinese AI alternative,' OpenAI said. Zhipu AI has not responded to OpenAI's latest remarks. However, company chairman Liu Debing said last week that Zhipu hopes to 'contribute China's AI power to the world.' Zhipu has also been linked to China's military modernization efforts. This led to its inclusion on the US Commerce Department's Entity List in January. The firm is reportedly preparing for an initial public offering and was last valued at around $2.78 billion. Meanwhile, OpenAI has been expanding its own presence. It recently secured a $200 million contract with the US Defense Department and announced an 'OpenAI for Government' program aimed at US public sector use. It also plans to build an AI-focused facility in the UAE under the $500 billion Stargate Project, backed by Abu Dhabi's MGX and Japan's SoftBank. Skullcandy Dime Evo: 5 Features That Make It Stand Out! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
CNBC
7 days ago
- Business
- CNBC
Blacklisted by the U.S. and backed by Beijing, this Chinese AI startup has caught OpenAI's attention
OpenAI is putting a spotlight on an under-the-radar artificial intelligence startup that it believes is on the "front line" of China's race to lead the world in AI — and its not DeepSeek. In a blog post on Wednesday, the company wrote that Beijing-backed Zhipu AI has made "notable progress" in the AI race, as global competition ramps up. Zhipu AI, founded in 2019, has been referred by domestic media as one of China's "AI tigers" — a class of large language model unicorns seen as key to Beijing's efforts to rival the U.S. and reduce its dependence on American technology. While fellow "AI tiger" DeepSeek has received the lion's share of international attention after it released its R1 model in January, OpenAI suggests that Zhipu's expansion outside China and its ties to Beijing deserve more attention. The startup has raised funds from several local governments, according to state media. "Zhipu AI leadership frequently engages with CCP officials, including Premier Li Qiang," OpenAI claimed, pegging the value of state-backed investments in the startup at over $1.4 billion. Zhipu AI reportedly has offices in the Middle East, the United Kingdom, Singapore and Malaysia, and is also running joint "innovation centers" projects across Southeast Asia, including in Indonesia and Vietnam. Those factors could see Zhipu AI playing a key role in China's "Digital Silk Road" strategy, as it offers AI infrastructure solutions to governments around the world. "The goal is to lock Chinese systems and standards into emerging markets before US or European rivals can, while showcasing a 'responsible, transparent and audit-ready' Chinese AI alternative," OpenAI said. Zhipu AI did not immediately respond to a request for comment on OpenAI's statements. However, last week, Zhipu AI Chairman Liu Debing told reporters that the company hoped to contribute China's AI power to the world. These aims represent a threat to OpenAI, which has received Washington's support to promote its foundational models as the world's go-to AI offering. During a visit to the UAE in May, U.S. President Donald Trump announced over $200 billion in commercial deals in the region, including one for building a Stargate UAE AI campus by OpenAI, Oracle, Nvidia and Cisco Systems. It's expected to be launched in 2026. The Stargate Project is a $500 billion AI-focused private sector investment vehicle, announced by OpenAI in January in partnership with Abu Dhabi investment firm MGX and Japan's SoftBank. This month, OpenAI was also awarded a $200 million contract to provide the U.S. Defense Department with artificial intelligence tools, and announced "OpenAI for Government," an initiative aimed at bringing its AI tools to public servants across the U.S. Zhipu is also said to be working with its domestic military, helping China's military to modernize through advanced artificial intelligence, which saw it added to the US Commerce Department's Entity List in January. The company has reportedly initiated preliminary steps toward launching an initial public offering. It has previously been valued at 20 billion yuan ($2.78 billion), according to local media reports.
Daily Tribune
23-06-2025
- Business
- Daily Tribune
From Bahrain to Africa: Inside Al Baraka's Digital Silk Road
TDT | Manama Bilateral Trade Sessions Expand Reach • New cross-border link formed • MENA-Africa firms connect • Platform boosts SME trade A new trade corridor is taking shape between Africa and the Middle East — digitally powered, Sharia-compliant, and anchored in Bahrain. Al Baraka Group, one of the region's most widespread Islamic banking networks, has launched a platform-driven push to unify its banking units across continents under a common trade finance system. The initiative, described by industry experts as a 'Digital Silk Road', gained momentum recently with two major bilateral sessions hosted by Al Baraka. The first connected exporters and importers in Turkey and Algeria, while the second linked businesses in Egypt and South Africa — signalling the group's intent to bridge Africa and MENA markets through seamless financing. Bridging Regions By pairing clients from its 12 operational markets, Al Baraka's trade programme is not just facilitating business, it is redrawing the commercial landscape. Since the programme's launch, executives have reviewed performance, discussed faster operational workflows, and mapped out new tech upgrades between Islamic economies. Senior trade experts, executive teams, and business owners came together during these sessions to explore new partnerships and routes for expansion. Simultaneously, the group held its second annual Trade Finance Units Meeting in Tunisia, marking the first full year of coordinated efforts. Powering Through Platforms A centrepiece of the initiative is Al Baraka's unified Trade Finance Platform, which has undergone major enhancements to allow for: Faster transaction execution Simplified client onboarding Multi-country coordination The result is a digital-first, bank-integrated solution designed to serve businesses across diverse markets without the friction of conventional banking silos. 'These collective efforts reflect Al Baraka Group's vision of transforming its diverse network into an integrated platform that enables clients to seamlessly access multiple markets,' said Group CEO Houssem Ben Haj Amor. He noted that the group's strength lies in offering 'diversified and flexible financing solutions' to support business competitiveness. 'We offer advanced solutions and an integrated support network that aligns with our clients' ambitions for expansion and growth in new markets,' added Mr Ben Haj Amor. Path to Expansion From Istanbul to Cape Town, Al Baraka's model centres on trade enablement, particularly for small and medium-sized enterprises (SMEs) seeking to break into regional supply chains. The group's latest sessions have been widely welcomed by clients seeking reliable trade partners and faster access to finance. As digital Islamic trade finance accelerates across the Global South, Al Baraka's platform positions Bahrain as a node of influence — linking continents, capital, and clients on a new, ethical trade path.
Yahoo
02-05-2025
- Business
- Yahoo
Nvidia Faces $5.5 Billion Hit as Huang Flags Huawei AI Challenge to Congress
Nvidia (NASDAQ:NVDA) CEO Jensen Huang appeared before U.S. lawmakers on the House Foreign Affairs Committee Thursday to sound the alarm on Huawei's surging AI capabilities. Huang warned that U.S. limits on Nvidia's chip exports to China risk leaving a void that Huawei could exploit. He told lawmakers that when U.S. platforms are absent, companies will turn to competitors like Huawei to fill the gap, in a post on X, formerly Twitter. Warning! GuruFocus has detected 3 Warning Signs with NVDA. He highlighted Huawei's push to build AI data centers overseas under China's Digital Silk Road initiative, saying those projects do not align with U.S. norms or values. Huawei's rapid gains in telecom and smartphones, he added, demonstrate the perils of ceding strategic markets. Huang urged lawmakers to support greater investment in domestic chip manufacturing to maintain U.S. leadership, noting that proposed AI export rules set to take effect May 15 could force Nvidia to retreat from markets worldwide. Nvidia also faces a potential $5.5 billion hit from new curbs on its H20 AI chip shipments to China. Meanwhile, Huawei plans to start mass shipments of its own advanced AI processors this month, setting the stage for intensified rivalry in the global AI chip arena. This article first appeared on GuruFocus. Sign in to access your portfolio
