SoftBank in talks to invest $25bn in OpenAI

The investment follows a SoftBank taking a $1.5 billion stake in OpenAI last yearJapanese conglomerate SoftBank reportedly in discussions to invest between $15 billion and $25 billion in OpenAI, according to a recent report from the Financial Times.If it goes ahead, the investment will make SoftBank OpenAI’s largest financial backer and would significantly expand the Japanese company’s presence in the AI sector.“The talks are ongoing and the amount that SoftBank could invest in primary equity into OpenAI is a moving target,” said an anonymous source.In addition to this potential investment in OpenAI, SoftBank has already committed $15 billion to Stargate, recently announced a joint venture between involving Oracle, OpenAI, and SoftBank.The Stargate Project is a $500 billion AI infrastructure initiative to build advanced US-based AI data centres. Announced at the White House last week, it aims to invest $500 billion over the next four years to build new AI infrastructure in the US, starting with deploying $100 billion immediately.SoftBank’s CEO Masayoshi Son is the chairman of the joint...

Read More........ → February 07, 2025

India’s non-fossil, fuel-based energy capacity reaches 217.62 GW: Centre

New Delhi, (IANS): India’s total non-fossil, fuel-based energy capacity has reached 217.62 GW (as of January 20), and addressing regulatory, financial and infrastructural challenges world be crucial this year towards meeting the clear energy goals, the government said on Wednesday.With continued policy support, increased investment, and a focus on emerging technologies, India is well-positioned to achieve its ambitious renewable energy targets and solidify its status as a global leader in the clean energy transition, according to a statement by Ministry of New and Renewable Energy.In 2024, the country made significant strides in solar and wind energy installations, policy advancements, and infrastructural improvements, setting the stage for ambitious targets in 2025.With a commitment to achieving 500 GW of non-fossil fuel-based energy capacity by 2030, India is emerging as a global leader in clean energy.The year 2024 saw a record-breaking 24.5 GW of solar capacity and 3.4 GW of wind capacity added, reflecting a more than two-fold increase in solar installations and a 21 per cent rise...

Read More........ → January 28, 2025

The multi-billion dollar startup sector is bouncing back – 8 big trends will shape 2025

Rod McNaughton, University of Auckland, Waipapa Taumata RauStartups have always been at the forefront of innovation. But factors such as artificial intelligence (AI), sustainability and decentralisation are set to reshape industries in 2025. Businesses are defined as startups when they are in the initial stages of development. They are characterised by the potential for rapid growth and external funding. And they are also sensitive to economic shifts and investment uncertainty. For Australia and New Zealand, startups play an important role in overcoming geographic and market constraints. They can also help address both countries’ persistent productivity challenges. Industry body Startup Genome estimates Sydney’s startup ecosystem was worth US$72 billion in 2024 with more than 3,000 startups. New Zealand’s ecosystem is valued at $9 billion across 2,400 startups. Both Australia and New Zealand have weathered global challenges such as recent slowdowns in investment activity when startups struggled to secure funding. But venture investments in both countries recovered well in 2024...

Read More........ → January 22, 2025

40 Indian startups secure over $787 million in funding this week

New Delhi, (IANS) In a significant week for the Indian startup ecosystem, nearly 40 startups secured more than $787 million in funding as the economy remained resilient amid the geo-political conditions.These deals included 16 growth-stage deals and 23 early-stage ones.This is a massive jump from $250 million raised cumulatively across 18 deals last week.Cloud kitchen unicorn Rebel Foods led the funding with $210 million led by Temasek in a mix of primary and secondary share sales. Rebel Foods is planning for a public listing by next year.Fintech startup Mintifi raised a total of $180 million in its Series E round led by TVG and Prosus. Mintifi plans to deploy the fresh capital to expand its footprint across key sectors.Meanwhile, CarDekho SEA, the Southeast Asia business unit of digital automotive solutions provider CarDekho Group, raised its first external funding round of $60 million.The round was led by prominent growth and private equity investors Navis Capital Partners (Navis) and Dragon Fund. Following this round, the cumulative fundraise now stands at more than $100 million.Haber,...

Read More........ → December 19, 2024

Softbank to invest $100bn in US AI

The cash injection follows a $50 billion investment in 2016 SoftBank Group, led by CEO Masayoshi Son, has announced plans to invest $100 billion in the US over the next four years, a move that will focus on advancing AI and its related infrastructure. This investment aims to create 100,000 new jobs. Son made the announcement alongside President-elect Donald Trump, who praised the deal as a strong sign of confidence in the future of the US economy. Trump said that the investment shows “monumental confidence in America’s future.” Trump welcomed the new investment as part of his broader strategy to boost the US economy and tackle inflation in his second term. “It will help ensure that artificial intelligence, emerging technologies and other industries tomorrow are built, created and grown right here in the USA,” he continued. The new pledge echoes a similar commitment made in December 2016, when Son promised a $50 billion investment and 50,000 jobs. While that money was deployed, the impact on job creation was unclear. Although the $100 billion is set to be deployed over the next four...

Read More........ → December 18, 2024

The importance of saving and investing

Consumer EducationYour financial wellbeing starts with financial literacy. The more you know, the better equipped you are to plan and manage your finances.AVBOB proudly brings you Mutual Wellness in 60 Seconds, a series on financial wellness matters, and all things ‘mutual’.As Africa’s largest mutual society, AVBOB takes your financial health seriously.In the video below, we look at the importance of saving and investing.Saving and investingWhether it’s being prepared for life’s challenges or reaching your financial goals, savings can assist to make things happen.Despite tough economic conditions, you don’t have to give up your dreams of financial stability, quality education, a well-earned holiday or an emergency fund. The secret to successful investing is to start small.You can always increase the amount you invest. However, the key is to simply start… the sooner the better.Did you know that AVBOB offers 5-year and 10-year investment accounts that let you save from as little as R250 per month? Over and above the interest that you will receive, you will also be eligible to get bonuses...

Read More........ → October 01, 2024

Need to invest in air pollution solutions for global prosperity: UN

Nairobi, (IANS) The world marked the fifth annual International Day of Clean Air for blue skies on Saturday, with calls for investment in clean air solutions as air pollution is increasingly causing public health, environmental, and economic problems.More than 99 per cent of humanity is now breathing polluted air, leading to more than eight million annual deaths, including more than 700,000 children under five.Dirty air disproportionately affects more vulnerable populations such as women, children and older people.Air pollution has become the second leading risk factor for early death globally, overtaking tobacco for adults and second only to malnutrition for children under five. Yet despite the already high and still rising economic, environmental and existential impact of air pollution, which each year costs the world $8.1 trillion in health damages alone, less than one per cent of international development funding is dedicated to tackling it.In addition to this silent killer’s toll on human health, “pollution is also choking economies and heating up our planet, adding fuel to the...

Read More........ → September 20, 2024

India embarks on clean energy journey amid billions of dollars investments opportunity

New Delhi, (IANS): As India begins its ambitious journey to fulfilling at least half of its energy requirements via renewable energy by 2030, the country is set to attract over $500 billion worth investment in clean energy by that time.According to Commerce Secretary Sunil Barthwal, India offers over $500 billion investment opportunities, particularly in the clean energy value chain including renewables, green hydrogen and electric vehicles (EVs) by 2030.At the 26th session of the United Nations Framework Convention on Climate Change (COP 26), India announced its target to achieve net zero emissions by 2070.Before that long-term goal, India is set to achieve its short-term targets under the ‘Panchamrit’ action plan -- reaching a non-fossil fuel energy capacity of 500 GW by 2030; fulfilling at least half of its energy requirements via renewable energy by 2030; reducing CO2 emissions by 1 billion tons by 2030; reducing carbon intensity below 45 per cent by 2030; and finally pave the way for achieving a Net-Zero emission target by 2070.India’s long-term low-carbon development strategy...

Read More........ → June 27, 2024

Cisco launches $1bn fund for AI startups

Cisco has made over 20 AI-focused investments and acquisitions in the last several yearsCisco has announced that it has launched a $1 billion fund to invest in AI startups in a push to become more dominant in the AI sphere.At the company’s “Cisco Live” event in Las Vegas, CEO Chuck Robbins said that despite a billion-dollar investment being considered small in the AI world, “part of our investment thesis is that there are unique co-development activities that we can enter into with [startups] to bring you more innovative solutions and help you navigate the AI transition.”The firm also say that the investment aligns with the company strategy “to connect and protect the AI era.”According to the press release, related investments in more established AI companies have already begun, with almost $200 million having been invested in companies including:– Mistral AI, which specialises in generative artificial intelligence– Scale AI, which provides end-to-end platform providing training and validation for AI applications– Cohere, which provides security-focused frontier large language models...

Read More........ → June 11, 2024

RBI approves record dividend of Rs 2.11 lakh crore to Central Government

Mumbai, (IANS): The Board of Directors of the Reserve Bank of India on Wednesday approved the transfer of Rs 2,10,874 crore as surplus to the Central government for the accounting year 2023-24.This is the highest-ever dividend that the RBI has transferred to the Government and will strengthen its fiscal position. The government can reduce its borrowing which will leave more funds in the banking sector for loans to corporates and consumers to spur economic growth.The amount is higher than the government expected as the interim budget documents for the ongoing financial year show a dividend of Rs 1.02 lakh crore from the RBI, public sector banks and other financial institutions.Interestingly, the RBI has made the higher amount available to the government after increasing the risk provisioning under the Contingent Risk Buffer (CRB) to 6.5 per cent for FY 2023-24.“With the revival in economic growth in FY 2022-23, the CRB was increased to 6.00 per cent. As the economy remains robust and resilient, the Board has decided to increase the CRB to 6.50 per cent for FY 2023-24,” the RBI said in...

Read More........ → May 24, 2024

India hot investment destination for Western corporate giants: UN report

New Delhi, May 18 (IANS) India has become an alternative investment destination for many Western companies, according to the latest World Economic Situation and Prospects report of the UN.The report which has increased the forecast of India’s GDP growth by 0.7 percentage points to 6.9 per cent identifies increased foreign investments as an important factor that is propelling the country’s GDP growth.“The better outlook for India is fuelled by lower inflation, robust exports, and increased foreign investments,” said Hamid Rashid, the chief of the UN’s Global Economic Monitoring Branch."India has become an alternative investment source or destination for many Western companies," he added.Finance Minister Nirmala Sitharaman said at the CII annual summit on Friday that a Capgemini report has disclosed that 65 per cent of top executives of multinational companies who want to shift their supply chains out of China, plan to invest in India.US smartphone giant Apple and its suppliers aim to build more than 50 million iPhones in India annually within the next two to three years. Its biggest...

Read More........ → May 22, 2024

Honda to Pour $15 Billion into EV Factory in Ontario–the Largest Auto Investment in Canada's History

Ontario Premier Doug Ford, Prime Minister Justin Trudeau, and Finance Minister Chrystia Freeland listen as Toshihiro Mibe, President and CEO of Honda Motor Co., speaks to the crowd at Honda of Canada – released by Honda.In late April, Honda Motor Company announced plans to build a comprehensive electric vehicle (EV) value chain in Canada with an approximate investment of CAD$15 billion (USD$11 billion).Consisting of four manufacturing plants for EVs, EV batteries, and battery components the first will have a production capacity of 240,000 EVs per year when fully operational, while the battery plant will produce around 36 gigawatt-hours per year.Battery recycling and end-of-use concepts are being taken into account in the project.Currently in evaluation phasing, the company hopes to build in Alliston, Ontario. In addition to securing the current employment level of 4,200 associates at its two existing manufacturing facilities in Ontario, Honda estimates it will add a minimum of 1,000 new jobs for the EV and EV battery manufacturing facilities.The investment will also create significant...

Read More........ → May 10, 2024

India-Taiwan trade may reach $25 billion via investments, tech sharing

Mumbai, May 8 (IANS) As India-Taiwan economic partnership grows significantly in recent years, the trade between the two countries may reach $25 billion via investment and technology sharing, industry leaders have said.Peter Huang, specialist of South Asia section (Market Development Department), Taiwan External Trade Development Council, who led a high-level delegation here, said that India is a friendly and hospitable country for Taiwanese industry."Our commercial relation is growing from strength to strength and this is our 15th business delegation to India," Huang said."India is still an untapped market for Taiwanese firms and there is huge trade and investment potential in India, especially in electronics, auto-components, machineries, food processing, medical devices and other sectors," he emphasised.Taiwan has considered India as a critical partner under its 'New Southbound Policy' and both countries have also signed migration agreements to allow Indian workers to be employed in Taiwanese industries.Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai, said that India-Taiwan...

Read More........ → May 09, 2024

SES to buy Intelsat for $3.1bn

Posted by Georgia Sweeting: The deal comes less than a year after the two companies broke off merger talksLuxemburg-based satellite company SES has signed a deal to buy Intelsat Holdings for $3.1 billion.A joint press release from the two companies explained the combination as creating “a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies.”Once combined, SES’s orbital assets will include 100 Geostationary Earth Orbit and 26 Medium Earth Orbit satellites.The deal gives Intelsat an enterprise value stands of $5 billion, with SES suggesting the deal will deliver synergies worth €2.4 billion ($2.6 billion).“Going forward, customers will benefit from a more competitive portfolio of solutions with end-to-end offerings in valuable Government and Mobility segments, combined with value-added, efficient, and reliable offerings for Fixed Data and Media customers,” said SES CEO Adel Al-Saleh.Rumours related...

Read More........ → May 02, 2024

SoftBank to invest $960m in Japanese AI

Posted by Georgia Sweeting: The investment follows the company spending JPY20 billion ($129.2 million) on computing infrastructure last year, Japanese tech giant SoftBank has announced that it will invest JPY 150 billion $960 billion to upgrade its computing infrastructure to deliver a Generative AI (gen AI) platform in the Japanese language, according to a report from Nikkei, which cited anonymous sources. Over the next two years, SoftBank will reportedly purchase GPUs (graphics processing units) from US based chip company Nvidia, using them to train and power its own large language models (LLMs), and then loan access to them to other firms. The investment in computing infrastructure is set to be the largest of any Japanese company, although SoftBank has not yet commented on the report. Last August, SoftBank invested JPY 150 million ($969 million) launched a new company, named ‘SB Institutions’, to research and develop homegrown LLMs that are specialised for the Japanese language. The company will ‘provide the necessary data sets and tools for LLM learning and develop models for...

Read More........ → April 30, 2024

Taskforce Urges Investment in Women-Led Ventures to Fuel UK’s Tech Evolution

A glaring gender gap in the UK’s high-growth entrepreneurship ecosystem is hindering progress and stifling the full potential of women in driving innovation and economic growth, a new report has revealed.The report, from a taskforce spearheaded by Anne Boden, founder of Starling Bank, advocates for significant reevaluation of investment strategies with only six per cent of high-growth enterprises being wholly or majority led by women.The Women-Led High-Growth Enterprise Taskforce, chaired by Boden since it was established in May 2022, has worked with entrepreneurs, campaigning organisations, and the investment community to gather data and identify the main barriers for women in starting and scaling high growth enterprises.FundingCentral to its report’s findings is the stark revelation of persistent barriers obstructing women entrepreneurs from accessing essential funding. Despite strides made in recent years, the report highlights that only a fraction of equity investment in the UK is directed towards fully female-founded businesses.Women continue to receive less than two per cent of...

Read More........ → April 23, 2024

Tesla’s Musk likely to unveil $2-$3 billion India investment during visit, sources say

FILE PHOTO: Elon Musk attends the Breakthrough Prize awards in Los Angeles, California, U.S., April 13, 2024. REUTERS/Mario Anzuoni/File PhotoNEW DELHI (Reuters) – Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi, two sources familiar with the discussions said. Musk will meet Modi on Monday during his India trip, when the billionaire is expected to unveil his plans to enter the world’s third-largest auto market where electric car adoption is still in its infancy. India’s EV market is small but growing and dominated by local carmaker Tata Motors. EVs made up just 2% of total car sales in 2023, but the government is targeting 30% of new cars to be EVs starting 2030. Musk’s visit comes as Tesla battles slowing sales in the major markets of the United States and China, and has this week announced layoffs affecting 10% of its workforce. Details of Musk’s India visit are closely-guarded, with the CEO only publicly confirming on his social media platform...

Read More........ → April 19, 2024

Belt and Road Initiative’s new approach and what it means for Chinese investments in Indonesia

The Jakarta-Bandung high-speed train, the first in Southeast Asia, was funded by China as part of its decade-old Belt and Road Initiative (BRI) project. ANTARA FOTO/Hreeloita Dharma Shanti/sgd/aww Ahmad Syarif, Johns Hopkins UniversityA shift in China’s international Belt and Road Initiative (BRI) from focusing on massive projects such as roads, railways and ports to “small but beautiful” ones has been announced by President Xi Jinping. Launched in 2013, the initiative provides loans to build infrastructure in partner countries worldwide, with connectivity as its main focus. Indonesia is BRI’s biggest recipient in Southeast Asia. The initiative has helped the country finance Southeast Asia’s first high-speed train project and poured billions of dollars of investment into nickel processing, unlocking a critical mineral asset. As a scholar in political economy and a former government relations consultant working closely with the Indonesian business sector, I’ve been considering what the “small-but-beautiful” approach means for Chinese investment in Indonesia. What does “small-but-beautiful”...

Read More........ → December 14, 2023

Telecom Italia approves US fund's bid for network

ROME - Telecom Italia on Sunday approved an offer by US investment fund KKR for its fixed-line network, infuriating its main shareholder which vowed to contest the "illegal" decision.The Italian telecommunications operator is seeking to sell its fixed network to pare down a huge debt pile that stands at more than 26 billion euros ($28-billion).TIM said its board had approved the deal, whose value could reach 22 billion euros and which would reduce the debt by "around 14 billion euros".Its main shareholder, French media giant Vivendi, has opposed selling the network and valued it at 31 billion euros, saying KKR's previous bids were far too low.Vivendi said it would "use all legal means at its disposal" to contest TIM's "illegal" decision.It had previously threatened to launch legal action if the KKR offer was approved without being submitted to an extraordinary general assembly of shareholders, where Vivendi would carry considerable weight."The rights of Telecom Italia shareholders are being trampled on," Vivendi added.TIM chief executive Pietro Labriola welcomed the board's "historic...

Read More........ → November 07, 2023

Disney to complete takeover of Hulu with $8.6bn deal

NEW YORK - The Walt Disney Company announced it will buy Comcast's $8.6-billion stake in Hulu, completing its takeover of the streaming service.The acquisition will "further Disney's streaming objectives," the company said in a press release, and comes as it strives to boost subscriber numbers at its Disney+ streaming service.The deal values Hulu at $27.5-billion in total, according to Disney, which said the transaction will be concluded by December 1.The California-based entertainment giant already sells Hulu as part of bundled offerings with its Disney+ and ESPN+ platforms.An ad-subsidized bundle of the three services is priced at $15 monthly in the United States, with an ad-free version costing $25 per month.The company will release its latest quarterly earnings next week, providing a look at how its cable and streaming services are doing in the fiercely competitive market.Disney in August reported that Disney+ lost more than 10 million subscribers in the recently ended quarter, in large part in the Indian market.Disney+ finished the second three months of this year with 146.1 million...

Read More........ → November 04, 2023