Tech in Asia

As US tax rules tighten, Shein faces a major challenge, while Temu’s model gives it an edge in the evolving market.

Check out our top articles for the week.

Goldman Sachs acknowledged that advancements in electronic trading and blockchain have intensified market dynamics.

Founded in 2023, RedotPay has over 3 million users globally.

Since its series A in 2024, Bria has partnered with Nvidia, Microsoft, and AWS.

OpenAI argues that restricting access could hinder national security, allowing countries like China to gain an advantage.

In 2024, Zetwerk raised US$90 million at a US$3.1 billion valuation.

TSMC posted US$26.85 billion in sales, a 14.1% increase, driven by strong demand for smartphones and AI applications.

Sacks also sold stocks in Coinbase and Robinhood and exited crypto funds like Multicoin Capital and Blockchain Capital.

Saudi Arabia led with US$250.3 million from 25 deals, followed by the UAE with US$203.5 million from 15 startups.

The delayed features aim to enhance Siri with personal data integration and improved app control.

Klarna’s valuation fell from US$46 billion in 2021 to US$6.7 billion in 2022 but rebounded with profitability in 2023.

Block's Cash App Borrow provides short-term loans averaging under US$100, with a one-month repayment period.

The facilities aim to generate 1 GW of power by 2027-2028, meeting rising energy demand from AI and cloud computing.

ByteDance has not confirmed any sale discussions, but rumors suggest potential buyers, including businessman Reid Rasner.

These announcements coincided with World Consumer Rights Day on Mar. 15, which promotes consumer protection in China.

As part of his compensation, Tan has committed to purchasing US$25 million in Intel shares.

Zolve, Insilico Medicine, Sola Security, and more raised funds this week.

Google also emphasized the need for a unified federal approach to AI regulation, criticizing state-level complexities.

As part of the approval, Apple has committed to investing in Indonesia by establishing a local software research center.