Author: Deal Street Asia Online News

China’s SenseTime reshapes to ramp up focus on generative AI techThe restructuring comes as SenseTime’s computer vision business declines.

Loss-making Chinese AI company SenseTime Group said on Tuesday it has completed a major organisational restructuring aimed at ramping up its shift toward generative AI technologies. The Hong Kong-listed company, previously focused on computer vision and surveillance technologies, has accelerated its transformation into generative AI following the industry-wide surge triggered by OpenAI’s ChatGPT. SenseTime was… Continue reading China’s SenseTime reshapes to ramp up focus on generative AI techThe restructuring comes as SenseTime’s computer vision business declines.

US chips ‘no longer safe’ say Chinese industry body in united response to curbsBeijing has also banned exports of some critical minerals to the US.

Chinese companies should be wary of buying US chips as they are “no longer safe” and buy locally instead, four of the country’s top industry associations said on Tuesday in a rare coordinated response to Washington’s curbs on Chinese chipmakers. The two nations have targeted each other’s economies in the last few days, escalating tensions… Continue reading US chips ‘no longer safe’ say Chinese industry body in united response to curbsBeijing has also banned exports of some critical minerals to the US.

Swiggy narrows losses in first earnings after India IPOIn comparison, rival Zomato posted a net profit of $21m for the September quarter.

Indian food delivery giant Swiggy posted a narrower loss in the September quarter—its first earnings since going public last month—buoyed by growing demand across its food delivery and quick commerce segments. However, the numbers also underline Swiggy’s uphill battle to catch up with rival Zomato, which has already achieved profitability. For the quarter ended September… Continue reading Swiggy narrows losses in first earnings after India IPOIn comparison, rival Zomato posted a net profit of $21m for the September quarter.

Indonesia expects Apple to commit $1b investments in a weekIndonesia requires smartphones sold domestically to comprise at least 40% locally-made part…

Indonesia is expecting to get a $1 billion investment commitment from tech firm Apple Inc. in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules. Indonesia stopped sales of the smartphone because it requires those sold domestically to comprise at least 40%… Continue reading Indonesia expects Apple to commit $1b investments in a weekIndonesia requires smartphones sold domestically to comprise at least 40% locally-made part…

Growth, talent seen as key to sustaining Japan’s private equity boomConcern about influx of capital as global buyout funds ramp up.

The bidding for Japanese systems developer Fuji Soft between two of the world’s largest private equity (PE) firms has shone the spotlight on the East Asian nation’s private equity market, which has seen frenzied activity driven by global macroeconomic and geopolitical tailwinds as well as domestic corporate sector reforms.  Go to Source

People Digest: Ortella Global names co-founder; Vanessa Lau to be sole HKEX COOHKEX has named group CFO Vanessa Lau to become the sole COO.

Ortella Global Capital has named Rajvardhan Mohite as its co-founder and head of enterprise investments while the Hong Kong Stock Exchange has named Vanessa Lau as sole COO. Ortella Global appoints co-founder Ortella Global Capital, recently launched by a former executive at the World Bank Group’s International Finance Corporation (IFC), on Tuesday named Rajvardhan Mohite… Continue reading People Digest: Ortella Global names co-founder; Vanessa Lau to be sole HKEX COOHKEX has named group CFO Vanessa Lau to become the sole COO.

SG-based Cross Capital seeks to bring Japanese LPs closer to the worldIt is targeting to raise $100m for its FoF backing VC funds in Asia, Israel, Eur…

Singapore-based Cross Capital aims to be “an open innovation infrastructure for Japan” with its first fund-of-funds, which seeks to connect Japanese limited partners (LPs) with technology markets around the globe, a top executive of the firm told DealStreetAsia. Go to Source

After $2b payday from Swiggy, Prosus plans more listings from Indian portfolioProsus expects five Indian portfolio firms to list in the next 18 months…

After raking in nearly $2 billion in profits from the initial public offering (IPO) of Indian food delivery firm Swiggy, Dutch technology investor Prosus expects five of its portfolio companies in the South Asian nation to hit the bourse in the next 18 months. Among the companies expected to go public, Prosus mentioned digital payments… Continue reading After $2b payday from Swiggy, Prosus plans more listings from Indian portfolioProsus expects five Indian portfolio firms to list in the next 18 months…

Australia’s Liven to expand in SE Asia after investment from Living Lab VenturesLiving Lab Ventures is the CVC arm of Sinar Mas Land.

Living Lab Ventures (LLV), the corporate venture capital (CVC) arm of Sinar Mas Land, has invested an undisclosed amount in the Australian hospitality startup Liven, according to a statement on Monday. Liven plans to use the funds to expand in Southeast Asia, including Indonesia. Based in Melbourne since 2014, Liven branded itself not just as… Continue reading Australia’s Liven to expand in SE Asia after investment from Living Lab VenturesLiving Lab Ventures is the CVC arm of Sinar Mas Land.