Tech, AI and Semiconductor Industry News: Oct Week 2

Tech, AI and Semiconductor Industry News: Oct Week 2

Tech, AI and Semiconductor Industry News: Oct Week 2

 

1. AI Business Moves

i. US Plan to Stop Google’s Search Dominance

The US Department of Justice (DOJ) is taking steps to break up Google’s search monopoly, which could impact its core profit stream and slow down its advancements in AI. Proposed remedies include:

  • Forcing Google to divest key businesses like Chrome and Android.
  • Limiting its data collection.
  • Increasing transparency in search results.

Takeaway: These measures aim to weaken Google’s dominance while providing opportunities for competitors like DuckDuckGo and Microsoft Bing. The AI-focused remedies could impact Google’s operations, especially as it faces growing competition from emerging companies like OpenAI and AI-driven search engine Perplexity. Research firm eMarketer predicts that Google’s share of the US search ad market will drop below 50% by 2025 for the first time in over a decade. However, the final decision could take years, and many analysts doubt whether these remedies will hold up in court.

 

ii. ChatGPT to Open Singapore Office

OpenAI is establishing a new office in Singapore, marking its second location in Asia. The office will focus on fostering partnerships with government bodies to create AI models tailored to regional cultures and languages. Hiring is also on the cards for positions related to sales, security and solutions engineering. Oliver Jay, who previously served as the chief revenue officer at Asana and an independent board director at Grab, will head the regional operations as the managing director of International.

Takeaway: This expansion reflects the company’s long-term strategy to leverage Singapore’s growing tech talent and position to establish deeper regional ties across Southeast Asia. The move also brings it closer to innovative local companies, like Grab in Singapore and Canva in Australia, both of which are utilising OpenAI’s cutting-edge AI solutions to develop new tools and features for their users.

 

iii. Singtel Launches AI Cloud Service for Local Data Processing

Singtel launched its AI cloud service, RE:AI. The solution benefits sensitive sectors like banking, healthcare, and the public sector by allowing them to process data within Singapore. RE:AI will utilise advanced Nvidia GPU technology. Instead of selling raw computing power, Singtel’s strategy focuses on offering AI as a service, which could ease the adoption of AI for companies hesitant due to costs and complexity. Singtel has also established partnerships with various organisations to foster AI innovation and support the National AI Strategy 2.0.

Takeaway: As a local player, the company has the advantage of offering fast and secure connections through its existing network infrastructure, including 5G and quantum-safe networking. The service is expected to expand regionally as Singtel collaborates with more telecom partners in Southeast Asia.

 

2. EV Business Moves

i. Uber to Launch GPT-4o-Powered AI Assistant to Support EV Adoption

Uber is set to launch an AI assistant powered by OpenAI’s GPT-4o in early 2025 to help drivers in the US with electric vehicle (EV) inquiries. The assistant will focus on questions like charging locations and EV purchasing options, and functionalities will gradually be expanded over time. Accessible from the Uber driver app, the chatbot will provide personalised, up-to-date responses based on individual driver needs and local incentives. Additionally, Uber will introduce an EV mentorship programme to reward experienced EV drivers for mentoring those new to EVs.

Takeaway: Uber’s adoption of AI aligns with a wider industry shift, where firms like Grab Holdings are also collaborating with OpenAI to boost customer service and streamline operations. For OpenAI, this marks another step into the automotive AI sector. Voice assistants are already common in modern cars, and ChatGPT’s models are increasingly powering these systems. Last month, Volkswagen began integrating ChatGPT into its vehicles, enhancing its Ida voice assistant to handle a wider range of tasks more conversationally. With Uber, VW, and other automakers like Mercedes-Benz experimenting with similar technology, OpenAI is positioning itself to shape the future of in-car AI assistants significantly.

 

ii. Nissan to Invest in EV Charging Tech Firm ChargeScape

Nissan Motor announced its plans to invest in ChargeScape, a battery charging technology company, and offer its services to electric vehicle drivers in the US and Canada. Following the investment, Nissan will acquire a 25% stake, joining BMW, Ford, and Honda as equal partners in the joint venture.

Takeaway: ChargeScape, which offers software to optimise EV battery charging, operates in a competitive market led by Tesla, with rivals like ChargePoint, Gridserve, and BP Pulse. Drivers using ChargeScape can earn incentives by pausing charging during peak times and may eventually sell stored energy back to the grid. This helps stabilise the grid and offers financial incentives to EV owners.

 

3. Deals

i. Tencent, Guillemot Family Considers Buying Out Ubisoft

Tencent Holdings and Ubisoft’s founding Guillemot family are exploring options to take Ubisoft, the maker of “Assassin’s Creed,” private. They are working with advisers to stabilise the company and boost its value. Currently, Tencent already holds nearly 10% of Ubisoft shares, and the Guillemot family owns 15%.

 

ii. Tech VC MindWorks Raises $220m, Defying Private Capital Downturn

Hong Kong-based VC firm MindWorks Capital raised US$220 million for its latest US dollar fund targeting startups in the Greater Bay Area and Asia. The new fund will invest in tech startups focused on cross-border logistics, cross-border finance, smart manufacturing, and companies leveraging AI to innovate in these sectors.

Despite challenges in China’s private investment market, the fund attracted backing from sovereign wealth funds, a university endowment, asset managers and prominent entrepreneurs. MindWorks now manages US$1.4 billion in assets, and 70% of investors for its new fund are based in Asia, while 30% come from Europe.

Takeaway: Despite challenges some China-based VC firms face in securing US dollar funding, the company’s investment approach has attracted global investors looking to allocate capital in Asia.

 

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Image Credits:

  • Cryptopolitan
  • Bloomberg
  • Tech in Asia