Latest AI News

Singapore's online used car marketplace Carro is preparing for expansion into Australia and exploring M&A opportunities ahead of a potential dual listing in 2025. The company recently partnered with Hong Kong's SY Holdings to enhance its AI capabilities in financing and supply chain management. Founded in 2015, Carro has built a comprehensive automotive ecosystem including refurbishment services, financing, fleet management, and retail platforms for both new and used vehicles across Southeast Asia. The Singapore-based unicorn employs over 5,000 people, has raised more than S$700 million from investors including SoftBank, and reported a positive EBITDA of S$43 million in FY2024.

Oracle's stock surged 36% in a day after impressive quarterly results, pushing its market cap past $920 billion. This rally boosted Larry Ellison's net worth to $393 billion, briefly making him the world's richest person. The key catalyst was a $300 billion cloud infrastructure deal with OpenAI, positioning Oracle as a major AI data center provider. Oracle's success is also attributed to its strategic partnership with Nvidia, securing valuable GPUs. CEO Safra Catz's net worth now exceeds $3.4 billion. The company plans to increase its cloud infrastructure revenue from $10.3 billion to $144 billion by 2030, impressing investors despite a slight earnings miss.

Malaysia has imposed strict new regulations requiring export licenses and advance notification for high-performance US-made AI chips passing through the country, responding to concerns about their diversion to China. This move follows US pressure and reports of Chinese companies exploiting regulatory gaps to access restricted technology. The regulations affect Malaysia's growing status as a data center hub, which has attracted over $16.9 billion in tech infrastructure investments. Companies must now comply with the Strategic Trade Permit system, report suspected illegal activities, and face consequences for violations. These changes will impact global AI supply chains and technology investment patterns across Southeast Asia.

OpenAI and Nvidia are preparing to announce a multibillion-dollar investment to build data centers across the UK, in partnership with Nscale Global Holdings. The investment will deploy Nvidia's GB200 processors, with Nscale committing $2.5 billion over three years. This forms part of OpenAI's global Stargate program and aligns with UK Prime Minister Starmer's AI strategy, which includes creating "AI growth zones" with faster approvals. The partnership positions the UK as a central hub in Europe's AI landscape and strengthens US-UK technological diplomacy.