Tag: World News

Alibaba will open its large language model Tongyi Qianwen to the public after gaining regulatory approval. The model can generate text, translate languages, write different kinds of creative content, and answer your questions in an informative way. The opening of Tongyi Qianwen to the public is a significant development in the field of artificial intelligence and will help to accelerate the development of AI applications in China.

Arm, the chip designer, is set to price its IPO at $54.5 billion, after receiving strong investor demand. The company is hoping to grow its business in areas such as cloud computing, where it has only a 10% share.

US household wealth surged to a record high of over $154 trillion in the second quarter, boosted by a rebound in stock prices and property values. Household cash holdings continued to dwindle, declining for a record fifth straight quarter. Debt levels for households, businesses and governments kept rising in the second quarter, but the pace of increase varied widely by sector.

Instacart, the grocery delivery company, is planning to go public in September with a valuation of up to $9.3 billion. This is much lower than the $39 billion valuation it had fetched in its last funding round. The company is offering 22 million shares priced between $26 and $28 each, and cornerstone investors have agreed to buy up to $400 million worth of shares. Instacart was founded in 2012 and allows customers to order groceries through its app and have them delivered in as little as 30 minutes. It has expanded its delivery business to non-grocery goods from sellers such as beauty product retailer Sephora, convenience store 7-Eleven and pharmacy chain CVS Health.

A massive flood in eastern Libya has killed at least 2,000 people and left thousands more missing. The flood came after dams above the city of Derna collapsed, sweeping whole neighborhoods with their residents into the sea. The death toll is expected to rise as search and rescue operations continue. The flood also caused widespread damage to infrastructure, including roads, bridges, and buildings. The Libyan government has declared three days of mourning for the victims. The United Nations and other international organizations have pledged to provide assistance to the affected areas.

New Alibaba CEO Eddie Wu has set two strategic focuses for the company: putting the user first and using AI to power innovation and growth. He also said that Alibaba would focus on promoting young talent and deepening its reorganization efforts.

Vertex Ventures Southeast Asia and India has raised $541 million for its fifth fund, which will be used to invest in startups in the region. The firm is also planning to set up a $50 million fund to invest in startups led by women founders. Vertex has been investing in the region for over 10 years and has backed more than 80 companies, including Singapore's Grab Holdings Ltd., Nium Pte and Patsnap. The firm's managing partners believe that there are still strong investment opportunities in the region despite the current slowdown in the global technology sector.

Arm Holdings is seeking to raise $5 billion in its IPO, but retail investors may have to buy shares at a premium. Recent IPOs have been volatile, so investors should do their research and be patient. Here are some tips for retail investors considering buying into Arm's IPO: Do your research. Don't buy on hype. Be patient. Diversify your portfolio.

Biden met Li at G20, says China's econ woes make Taiwan invasion less likely. US not withdrawing from Pacific.

Top US and Vietnamese firms in semiconductor, tech, and aviation met to discuss business opportunities and unveil new deals in AI. Microsoft, Nvidia, and other US firms announced plans to invest in Vietnam, while Vietnam Airlines agreed to purchase Boeing jets.