Tech in Asia

Backed by Microsoft, Mistral plans to expand language support and make its model data publicly accessible.

Bloomberg also reports Meta is in talks to invest over US$10 billion in Scale AI.

IBM has developed a new error-correction algorithm that reduces the number of qubits needed, improving efficiency.

Google Cloud will provide resources for training and operating OpenAI’s AI models.

As of 2023, Ximalaya reported 303 million monthly active users.

Toki raised US$1.8 million in 2024, eyeing the Philippines’ US$5 billion collectibles market. Its closure comes as VCs bet on similar platforms in Southeast Asia.

New and returning investors are opening their checkbooks. Check out this list for better fundraising opportunities.

The news comes just days after he was named incoming chairman of Temasek.

Green GSM's electric taxis will operate in 10 of Metro Manila's 16 cities, aiming for zero emissions.

Gadget distributor Erajaya guns for a spot in Indonesia’s EV race, while Lazada co-founder Magnus Ekbom takes charge as SCI Ecommerce’s CEO.

TikTok emphasized its commitment to user choice in payment and logistics services, as well as fair business practices.

This decision was made during a hearing on May 20, according to EdWeek Market Brief.

Siebert also plans to develop AI technologies and explore potential acquisitions.

The project will cover over 6,800 square kilometers and includes more than 920,000 buildings.

The fund intends to invest in companies with revenues between US$2 million and US$10 million.

Meesho is also seeking approval from the National Company Law Tribunal (NCLT) to shift its domicile from the US to India.

Temu's consumer spending in the EU surged by 63%, while Shein's grew by 19% year-over-year.

This investment could value the company at US$1.5 billion or more, according to sources familiar with the situation.

This move follows a global trend of stricter stablecoin rules, as seen in the US, EU, Japan, and Hong Kong.