Industry News & Trends Recap Apr Week 4
Industry News & Trends Recap: Apr Week 4
This week, our financial services recruitment team identified opportunities in the sector, as industry leaders such as Goldman Sachs, Noah, and KPay unveil plans to grow their headcount. Similarly, Ant International’s establishment of a business center in Malaysia is poised to generate 500 new employment opportunities for the tech sector. Meanwhile, competition intensifies in the e-commerce front, with Alibaba setting its sights on a possible investment in Korea’s leading e-commerce platform Ably.
Table of contents
- Finance Industry News
- Investment, PE & VC News
- Legal Industry News
- Healthcare & Life Sciences News
- Luxury & Retail News
- Tech & AI News
Finance Sector News
1.
Kpay to Grow Merchant Base and Headcount in Singapore
Hong Kong-based fintech startup KPay announced plans to expand its presence in Singapore by growing its merchant base to over 10,000 within the following year. To support this growth, KPay will double its Singapore workforce to over 100 employees. Established in July 2020, KPay specialises in providing point-of-sale terminals and other services tailored for small and medium-sized enterprises (SMEs). Its offerings include SME financing and a business management platform. Concurrently, KPay appointed Lytous Zhou as chief product officer and Thomas Huang as general manager for Japan.
Read the full article about Kpay’s growth plans.
2.
BNP Paribas Re-Enters Chinese Securities Market with 30 Hires
BNP Paribas announced plans to re-enter the Chinese securities market after 17 years and hired close to 30 employees to kick-start their operations. The new unit will first focus on brokerage, research, and asset management. Unlike some competitors, BNP chose not to expand their onshore investment banking due to cost concerns and a tough deal environment, and will leverage its European status to expand in China slowly. The move contrasts with other foreign firms, which have scaled back due to US-China tensions. Nonetheless, BNP has not fully abandoned investment banking and has hired an industry veteran in 2021 to strengthen the practice.
Read the full article about BNP Paribas’s China securities unit.
3.
People Moves: CITI, BoS, BNP Paribas, Haitong Securities and HKEX
CITI: CITI appointed Amit Dhawan as the head of Citi Commercial Bank (CCB). Dhawan, who has been leading emerging corporates in Asia since 2017, will now oversee CCB’s business and operations in Singapore and drive strategy, financial performance, and client relationships. Dhawan has over 30 years of banking experience, and has held senior positions in corporate banking and risk management across Asia and Africa.
BoS: Bank of Singapore (BoS) appointed Rickie Chan as the new chief executive of its Hong Kong branch, effective April 17. Chan, who also serves as the head of private banking in Greater China, will oversee risk and governance for the Hong Kong branch while continuing to drive growth and presence in Greater China. The outgoing CEO, Cindy Wong, will remain an advisor until May 31 before retiring. BoS considers Greater China a crucial market, ranking as its largest after ASEAN, and has grown its presence in the region with over 150 new hires. This constitutes about a 10% increase in assets under management (AUM) from Greater China. Rickie Chan, who joined BoS on February 15, brings over 28 years of expertise in private banking, wealth management, and capital markets, as well as rich experience as Credit Suisse’s Hong Kong chief executive and Greater China head of global wealth management.
BNP Paribas: BNP Paribas Wealth Management appointed Janet Chan, a 25-year private banking client servicing veteran, as the market head of Hong Kong. Chan joined from Julius Baer, where she was managing director, senior advisor, and team head in Hong Kong. Prior to her tenure at Julius Baer, she also served at UBS, Credit Suisse, and HSBC. In her new role, she will report to Lemuel Lee, the head of wealth management in Hong Kong.
Haitong: Chinese brokerage Haitong Securities removed Lin Yong from the position of chief executive of its Hong Kong-based offshore unit. Lin, who had been serving as the CEO of Haitong International Securities in Hong Kong since 2007, was relieved of his duties according to an internal memo. Lin’s tenure was notable for leading the offshore unit to become a major issuer of offshore high-yield bonds for Chinese companies. However, a series of defaults and subdued issuance led to substantial losses totalling US$1.7 billion for Haitong International in 2022 and 2023. Consequently, the parent firm took the Hong Kong-listed offshore unit private in January. Zhuang Wei has been appointed as the new chief executive and deputy chairman for Haitong International by the Shanghai-headquartered parent firm.
HKEX: Hong Kong Exchanges and Clearing (HKEX) appointed Carlson Tong Ka-shing, former chairman of the Securities and Futures Commission (SFC), as the new chairman. He succeeds Laura Cha Shih May-lung, who retires after a six-year term. Tong’s appointment comes at a crucial time as HKEX faces challenges such as low market turnover and declining new listings. Tong has extensive experience in the financial market and regulatory oversight, having previously served as SFC’s chairman and head of KPMG China. Under his leadership, HKEX aims to diversify its product ranges, enhance trading mechanisms, and bolster competitiveness. Tong’s appointment has garnered positive reactions from industry insiders, who commend his strategic insights and leadership skills.
Read the full article about Citi’s Head of Commercial Bank.
Read the full article about Rickie Chan’s appointment.
Read the full article about Haitong’s leadership change.
Read the full paid article about HKEX’s new chairman.
Read the full article about Laura Cha’s departure from HKEX.
Investment, PE & VC News
1.
Opportunities: NOAH and Goldman Sachs to Grow Asia Asset and Wealth Headcount
NOAH: Shanghai-based NOAH Holdings announced its intention to grow its workforce in Hong Kong and Singapore to cater to the rising capital flow from mainland China. This includes plans to double the number of relationship managers to 150-200 by year-end from the current 100, with about 70% of the new headcount in Hong Kong and the rest in Singapore. This expansion is driven by the demand from China’s affluent population seeking wealth diversification. While Hong Kong remains a significant hub for mainland investors accessing global markets, Singapore’s wealth management sector has also been growing due to incentives and regulatory changes. NOAH is also considering setting up in Dubai but is cautious due to the cost and ensuring sustainable demand. The firm has witnessed shifts in client preferences towards onshore and offshore products, with demand for offshore fixed-term deposits, insurance plans, and money market funds.
Goldman Sachs: Goldman Sachs Group Inc. announced plans to steadily expand its workforce in Asia to meet the rising demand from family offices and ultra-high-net-worth individuals in the region. Marc Nachmann, Goldman’s global head of asset and wealth management, highlighted Asia as a significant opportunity for the bank, with Singapore, Australia, and Hong Kong being key wealth markets. The bank has been witnessing a growing number of family offices in Singapore, indicating a promising trend. Although specific hiring targets were not disclosed, Goldman’s asset and wealth management headcount in Singapore has increased 30% over the past three years.
Read the full article about NOAH’s hiring plans for wealth managers.
Read the full article about Goldman Sachs’ growth in Asia headcount.
2.
Business Moves: New Middle East Fund, Li Ka-shing Consortium Invests and More
i. Firms Roll Out Semi-Liquid Strategies
Schroders x iCapital: The partnership to increase access to semi-liquid global private equity by leveraging iCapital’s technology platform. Schroders Capital will gain access to iCapital’s network through its Marketplace, which links wealth managers and financial advisers to alternative investment opportunities. The partnership will focus first on Latin America, Asia, and Switzerland.
Wellington x SC: Wellington Management partnered with Standard Chartered Private Bank to offer Standard Chartered’s Singapore and Hong Kong clients access to Wellington’s Credit Total Return plan. Beginning in April 2024, this plan provides an actively managed long-only strategy focusing on a global portfolio of US dollar-denominated fixed-income instruments. Fitzgerald has over 18 years of experience and will oversee the strategy, which includes corporate, high-yield, emerging market, and treasury fixed-income instruments.
Manulife: Manulife Investment Management (IM) has introduced a semi-liquid credit strategy, Manulife Private Credit Plus, to Singapore’s private banks and wealth managers. This strategy invests in US middle-market senior secured loans and asset-based lending sourced through Manulife’s IM platform and Marathon Asset Management. The plan aims for a double-digit yield with a diversified portfolio, including senior direct lending, asset-based lending, and liquid credit.
Read the full paid article about Wellington’s partnership with Standard Chartered.
Read the full article about Schroders’ partnership with iCapital.
ii. CIC Partners Investcorp to Launch US$1b Sovereign Wealth Fund in the Middle East
CIC x Investcorp: China Investment Corp (CIC), China’s sovereign wealth fund, partnered with Bahrain-based Investcorp Holdings to establish the US$1 billion Golden Horizon Fund. The fund will invest in firms across the Gulf Cooperation Council (GCC) countries and China. It will target companies with high growth potential in sectors like consumer, healthcare, logistics, and business services. This marks the first time CIC has invested in the Middle East. The initiative comes amidst increasing efforts to enhance economic relations between the Middle East and China.
iii. Allianz Snags China’s Approval for Wholly Foreign-Owned FMC
Allianz: Allianz Global Investors, the asset management arm of Allianz in Germany, received regulatory approval from the China Securities Regulatory Commission to operate as a wholly foreign-owned public fund management company (FMC) in China. This approval allows AllianzGI to begin its public fund management business in China and serve the country’s growing population of retail investors. The approval comes amidst expectations of strong growth in China’s trillion-dollar mutual fund market due to factors like ageing demographics, rising household incomes, and ongoing pension reforms.
Read the full article about CIC and Investcorp’s Middle East investment.
iv. Li Ka-shing Owned Consortium Buys Ireland’s Largest Natural Gas Network
A consortium of three companies owned by Hong Kong tycoon Li Ka-shing (CK Infrastructure, CK Asset Holdings, and Power Assets Holdings) acquired Phoenix Energy for US$941 million. Phoenix Energy operates the largest natural gas network in Northern Ireland, covering nearly half of the local population, including Greater Belfast, and 78% of gas connections in the region. The consortium bought Lionrai Investments No. 1, the owner of Phoenix Energy, from NatWest Group Pension Fund and Utilities Trust of Australia. This acquisition marks CK Infrastructure’s first purchase of a European asset since 2017 and is expected to provide the group with stable cash flow and recurring profits. Despite challenges in the property sector and trade landscape, Li Ka-shing has been actively pursuing acquisitions, taking advantage of favourable valuations due to the pandemic-induced economic downturn.
Read the full article about the acquisition of Phoenix Energy.
v. Hyundai Capital Expands in Indonesia with Acquisition of Local Finance Firm
The finance arm of Hyundai Motor Group, Hyundai Capital, marked its entry into the Indonesian market by acquiring an Indonesian finance company. This move follows the recent acquisition of a financial business license in Australia and the robust economic growth observed in the Indonesian market for the past two years. Hyundai Capital plans to strengthen its financing capabilities and establish a sales network in key cities by leveraging partnerships with major Indonesian conglomerate, Sinar Mas, and Shinhan Indonesia. Concurrently, Hyundai Capital is accelerating efforts to establish its presence in Australia through Hyundai Capital Australia.
Read the full article about Hyundai Capital’s expansion in Indonesia.
3.
People Moves: Gaw Capital, JPMorgan, Morgan Stanley, T.Rowe Price and PGIM
Gaw Capital: Hong Kong-based private equity firm Gaw Capital Partners added two members to its senior leadership team. HyunChan Cho joins as managing director, head of infrastructure, and head of Korea. He brings extensive experience in infrastructure investment from his previous role at Korean asset manager, IMM Investment and International Finance Management. Meanwhile, Elizabeth Di Cioccio joins as managing director of capital markets, EMEA. She has nearly 20 years of experience and was a former head of the Middle East and managing director at KKR.
JPMorgan: JPMorgan Chase & Co. appointed Lu Fang as the new chair of its China securities arm. Lu succeeds former chair Park Pu, who will now serve as senior advisor. Concurrently, the head of Equities for JPMSC, Greg Yu, was promoted to general manager. The securities unit, which transitioned from a joint venture to a wholly owned subsidiary in 2021, has 210 staff in China and is one of the biggest among foreign securities firms. Both appointments took effect immediately, pending regulatory filings. Lu will oversee overall management, the bank’s strategic agenda and local governance. Meanwhile, Yu will handle strategic agenda execution, regulatory relationships, day-to-day operations and his existing duties.
Morgan Stanley: Morgan Stanley Investment Management hired Vikram Lokur as managing director and head of institutional sales for Southeast Asia (SEA) and Hong Kong. Lokur, who will be based in Singapore, has nearly three decades of experience. He was Carlyle’s managing director and client relationship manager. He primarily focused on SEA during his tenure, during which he played a crucial role in developing the wealth coverage platform for Asian private markets. This appointment is part of Morgan Stanley’s efforts to set up a dedicated sales team across Greater China and SEA to serve institutional and intermediary clients. The firm recently hired Min Huang, former APAC head of asset management at Credit Suisse.
T. Rowe Price: T. Rowe Price named Tim Chamberlain the new Chief Operating Officer (COO) for the Asia Pacific (APAC) region, effective May 1. Chamberlain, previously the general manager for T. Rowe Price’s chief data office, will relocate from London to Australia for this role. Chamberlain brings extensive experience in operational and digital transformation, including at S&P Global Ratings as APAC COO.
PGIM: PGIM, Prudential Financial’s investment management arm, bolstered its presence in the Middle East with the appointment of Mohammed Abdulmalek. A seasoned industry veteran with 30 years of experience, Abdulmalek will serve as a senior advisor and chairman of PGIM’s Middle East council and oversee expansion. A former senior exec at J.P. Morgan, UBS Asset Management and Deutsche Bank Asset Management, he brings extensive experience in asset management and investment banking in the region. His background also includes his recent advisory practice, which involves helping regional institutions and family offices optimise their investment portfolios.
Read the full article about JPMorgan’s new China heads.
Legal News
1.
Norton Rose Fulbright Hires Baker McKenzie’s Banking Expert as Partner
Global law firm Norton Rose Fulbright strengthened its banking and finance team in Singapore by hiring Beelee Seah from Baker McKenzie, where he served as a local principal. Seah has over a decade of experience advising on fund finance and cross-border financing deals in South Asian loan markets, particularly Vietnam. His addition aims to meet the increasing demand across SEA. Norton Rose Fulbright’s Singapore office has recently seen changes in members. This includes the departure of banking partner Janelene Chen to Mayer Brown and the addition of international arbitration partner Kent Phillips from Hogan Lovells.
Read the full article about Norton Rose Fullbright’s banking partner.
2.
KPMG Hong Kong Law Firm’s Founder and Lawyer Team Joins CRS
UK law firm Charles Russell Speechlys expanded its Hong Kong team by hiring four attorneys from SF Lawyers, KPMG’s law firm. Led by Shirley Fu, the team’s move effectively shuts down the Big Four’s Hong Kong arm after nearly five years. Fu, a transactions specialist with over 20 years of experience, specialises in advising clients in China and across Asia on M&A, private equity, and joint venture deals. Her appointment aims to enhance the firm’s footprint in Greater China for continued growth. Joining her are senior associates Rachel Kan and Bessie Chow, and senior legal manager Tom Wong.
Read the full article about the KPMG law firm team’s departure to CRS.
3.
Jinmao Law Firm’s Anti-Fraud Expert Joins TianTong
TianTong Law Firm has strengthened its Shanghai team by adding Jinmao Law Firm’s anti-fraud expert Yin Qing as a partner. Yin brings extensive experience in anti-fraud, anti-bribery, government and internal corporate investigations. He also has a background in economic crime investigation with the Public Security Bureau prior to his tenure as a lawyer.
Read the full article about TianTong’s new anti-fraud partner.
4.
Global Law Firm Adds Three Partners to its Beijing and Chengdu Offices
Global Law Office expanded its team by adding three new partners, Li Deyuan, Li Yuanyuan, and Yang Haoyan, to its offices in Beijing and Chengdu. Li Deyuan will be based in Beijing, and the other two partners will be in Chengdu. The trio brings expertise in the following areas:
- Li Deyuan: Specialises in venture capital, private equity investments, M&A, foreign direct investments and corporate matters.
- Li Yuanyuan: Specialises in corporate compliance, M&A, international trade, and dispute resolution.
- Yang Haoyan: Specialises in banking, finance, M&A, debt restructuring, dispute resolution, liquidation and bankruptcy.
Read the full article about Global Law Firm’s three new partners.
5.
Deloitte Legal Eyes Growth in Australia
Following a strategic realignment, Deloitte Legal reaffirmed its dedication to Hong Kong and announced plans to expand its presence in Australia, targeting growth in new practice areas. The firm intends to scale up significantly in Australia over the next few years, with ambitions to double or even triple its size.
Read the full paid article about Deloitte Legal’s interest in Australia.
Healthcare & Life Sciences News
1.
Johnson & Johnson 21-Year China Chairman Departs
Will Song, President of Johnson & Johnson China and Johnson & Johnson Medical China, has resigned as he seeks to explore external career opportunities. He will remain in his role until the end of September to ensure a smooth transition. Song, the first Chinese-born president in Johnson & Johnson’s history, has played a significant role in the organisation’s growth in China over the past decade. Under his leadership, sales of Johnson & Johnson Medical Technology in China tripled, making it a crucial growth engine globally.
Nonetheless, a series of internal reforms and personnel changes in recent years have indicated signs of the company’s direction shifting to emphasising “creed” and “innovation” as key drivers for long-term development. This includes executive departures and new appointments alongside business adjustments, such as renaming the medical device business, and the spin-off listing of the consumer health business Kenvue.
Read the full article about the departure of Johnson and Johnson’s China chairman.
Read the full Chinese analysis of the departure of Chairman Song.
Luxury & Retail News
1.
Alibaba Eyes Investment in Korea’s Top E-Commerce App Ably
Alibaba Group Holding Ltd. expressed interest in investing in a South Korean online shopping platform, Ably Corp., to gain a foothold in one of the world’s largest e-commerce markets. Talks are in progress to invest around US$72.4 million for a 5% stake in Ably, the operator of the No. 1 women’s clothing shopping app in Korea. The move will help Alibaba expand its presence in Korea and other markets by combining Korean fashion with Chinese products. Ably boasts a competitive edge in attracting female users and has over seven million active users monthly.
Read the full article about Alibaba’s potential investment in Ably.
2.
Armani Contemplates IPO or Merger for Succession Plan
As his 90th birthday approaches, Giorgio Armani contemplates significant changes for his fashion empire, including merging with a larger rival or going public. Despite his longstanding commitment to independence, Armani now acknowledges the potential for future partnerships or listings. While he still controls the Armani Group, he acknowledges that his successors will ultimately decide the company’s direction. Armani’s openness to new possibilities reflects the uncertainty prevalent in the Italian luxury industry, where many firms remain family-owned and independent and fall behind in the scale of dominant French rivals like LVMH and Kering. Bloomberg analysts estimate the value of Giorgio Armani SpA at Є8 to 10 billion in the context of a potential takeover or demerger.
Read the full article about Armani’s succession plan.
3.
Prada Revenue Grows 16% Amidst Miu Miu’s Strong Momentum
Prada reported robust sales growth in the first quarter despite a broader slowdown in the luxury sector. Booming demand for its high fashion brand Miu Miu, particularly in APAC and Europe, drove sales up by 16% to Є1.19 billion. While Prada’s flagship label saw a 7% increase in retail sales, Miu Miu experienced a remarkable 89% surge. Although a dual listing in Milan remains on the agenda, it’s not a priority for the group at the moment. While the group has no plans for additional store openings this year, it aims to open 10 to 15 Miu Miu stores by 2025 and five to 10 Prada stores. Prada’s shares rose following the announcement, reflecting investor confidence in the brand’s performance. Miu Miu’s popularity has been on the rise since 2022, with its retail sales now constituting over a quarter of the group’s revenues.
Read the full article about Prada’s take on its performance.
Read the full article about Miu Miu’s performance.
4.
People Moves: Joeone, Golden Goose, Valentino, Marcelo and Ganni
Joeone: Joeone Group appointed Lin Zehuan as the General Manager of the JOEONE Division, signalling a strategic move to accelerate brand rejuvenation. Under Lin’s leadership, JOEONE has pursued a youthful approach to brand revitalisation with a strategy focused on innovation and market responsiveness, which has seen significant success. Notably, JOEONE recently sparked positive discussions with its strategic appointment of brand spokespersons who appealed to diverse age groups. The appointment of a new general manager and the introduction of fresh initiatives are expected to inject further momentum into JOEONE’s brand growth, sparking anticipation for its future development and continued success.
Golden Goose: Former Gucci CEO Marco Bizzarri joined the board of directors of Golden Goose SpA, a luxury sneaker brand favored by celebrities like Taylor Swift and Selena Gomez. Golden Goose, owned by Permira Holdings LLP, is gearing up for a potential listing in Milan, which could value the company between €3 billion and €4 billion. The IPO, one of Italy’s most anticipated, may happen as early as May or June on the Milan Stock Exchange.
Valentino: Valentino’s chairman, Rachid Mohamed Rachid, believes that the era of “quiet luxury” in the fashion industry is ending, with affluent consumers now seeking bold designs. The comment follows Valentino’s appointment of Alessandro Michele, known for his flamboyant and bohemian-chic styles, as its new creative director. Michele’s arrival signals a departure from the minimalist aesthetic of his predecessor, Pierpaolo Piccioli, who epitomised the “quiet luxury” trend. Rachid anticipates a resurgence of colours and bold designs under Michele’s leadership, contrasting with Piccioli’s elegant and monochrome-focused collections. Despite challenges in the luxury market, Rachid remains optimistic about a potential recovery in China in the latter part of the year.
Marcelo: Marcelo Burlon is stepping down as the creative director of Marcelo Burlon County of Milan, the fashion label he founded in 2012. Inspired by ’90s club culture, Burlon started the brand as a T-shirt line and expanded it to include menswear, womenswear, kidswear, and accessories. The brand grew quickly and collaborated with companies like Levi’s and Kappa. It’s unclear if the brand is actively seeking a new creative director, but the team will continue to uphold the brand’s legacy and direction.
Ganni: Ganni, the Danish label known for its clean-cut hipster style, appointed former Balenciaga and Gucci executive Laura du Rusquec as its new CEO. With her extensive luxury fashion management background, du Rusquec will lead Ganni into its next phase of growth and innovation. She replaces Andrea Baldo, who oversaw significant international expansion during his five-year tenure. The move signals a shift in emphasis for Ganni, possibly aiming for higher luxury positioning.
Read the full Chinese analysis of Joeone’s new General Manager.
Read the full article about Bizzarri’s appointment in Golden Goose.
Read the full article about Valentino’s new creative director.
Read the full article about Marcelo’s departure from Namesake Brand.
Read the full article about Ganni’s new CEO from Balenciaga.
Tech Industry News
1.
Ant International to Launch Digital Centre in Malaysia and Create 500 Jobs
Digital payment and financial technology provider Ant International is establishing a new digital business centre in Malaysia. The new centre will be launched in The Exchange 106 at the Tun Razak Exchange financial and business hub by 2025. It is set to create over 500 job opportunities in the first year and more in the following four years until 2028. It will mainly focus on tech roles, particularly in software development, product design, and data science.
Read the full article about Ant International’s new business centre in Malaysia.
2.
Alibaba and Baidu Rush to Integrate Meta’s Llama 3 LLM in their Cloud Platform
Chinese tech giants Alibaba and Baidu are set to integrate support for Meta’s Llama 3 large language model (LLM) into their cloud computing platforms. Alibaba’s cloud unit has included Llama 3 in its ModelScope, offering developers access to various open-source AI models. Alibaba Cloud is also providing support for Meta’s LLMs on its Bailian platform, offering free training and deployment solutions for a limited time. The move follows Chinese tech giant Baidu’s announcement of its support for Llama 3 on its Qianfan model-as-a-service platform.
Read the full paid article about Alibaba and Baidu’s LLM integration.
3.
SenseTime and MiniMax Among Hundreds to Move into China’s LLM Developer Hub
The Shanghai Foundation Model Innovation Center, established last September in Xuhui district, has become a hotbed for AI firms. Over 60 large language model (LLM) startups and 200 firms from the upstream, midstream, and downstream of the large model industry have joined the hub. Among these include giants like SenseTime Group and startups like MiniMax. Many companies focus on computing power and data services, marketing-specific large models, and in entertainment, office, finance, e-commerce, and autonomous driving applications. AI is one of Shanghai’s three leading industries and a major battleground for developing new productive forces. The centre aims to attract hundreds of innovative enterprises to build a more competitive world-class AI industry cluster and generate thousands of industry applications with a projected industry scale of US$138 billion. Support is offered at various levels, including the government, telecommunications operators, and major cloud service providers. These enable the hub to provide high-quality incubation services, public services such as data openness and computing power scheduling, and industry-specific ecosystems.
Read the full article about China’s first LLM developer hub.
Read the full Chinese article about the Shanghai Foundation Model Innovation Center.
4.
TSMC Plans A16 Chip Tech Launch for 2026, Challenging Intel
TSMC unveiled its new chip manufacturing technology, A16, which is set to enter production in the second half of 2026. This move intensifies the competition with Intel over producing the world’s fastest chips. While TSMC didn’t directly name specific clients, they hinted that AI chipmakers would likely be the first adopters of the A16 technology. Analysts see TSMC’s announcement as potentially challenging Intel’s claims about overtaking TSMC in chip speed with their 14A technology. TSMC’s accelerated development of A16, driven by demand from AI chip firms, indicates strong industry interest in optimising performance. Notably, TSMC plans to implement a new power supply technology for chips from the backside to enhance the speed of AI chips by 2026. This move echoes Intel’s similar technology, suggesting a competitive landscape in chip innovation.
Read the full article about TSMC’s A16 chip technology.
5.
EV: Huawei Launches Driving Software, Tencent Expands Smart Mobility Solution Adoption
Huawei: Chinese tech giant Huawei introduced a new software brand, Qiankun, for intelligent driving, signalling its ambitions in the electric vehicle industry. Qiankun aims to provide self-driving systems encompassing various aspects like driving chassis, audio, and driver’s seat. Huawei plans for mass commercialisation of smart driving in 2024, with over 500,000 cars equipped with its self-driving system by the year’s end.
Tencent: Tencent is expanding the adoption of its AI-powered smart mobility solutions beyond just in-vehicle applications to various sectors of the automotive industry, from R&D to customer services. The solution will leverage Tencent’s Hunyuan LLM. Partnerships have already been established with over 100 carmakers and industry players. Tencent anticipates that over 15 million cars will feature its smart mobility solution by the end of the year.
Read the full article about Huawei’s new intelligent driving software.
Read the full paid article about Tencent’s AI smart mobility solution.
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