China's central bank has maintained its lending rate at 2.5%.

The People's Bank of China (PBOC) has decided to maintain key policy rates and roll over maturing loans. The lending rate on the PBOC's one-year medium-term lending facility (MLF) remains at 2.50%. This decision is in line with market expectations, with 71% of respondents in a Reuters poll predicting no change in borrowing costs for one-year MLF loans. The central bank's recent action has resulted in a net fresh injection of 1 billion yuan into the banking system, as 499 billion yuan worth of MLF loans are set to expire. In addition, the PBOC has injected 105 billion yuan through seven-day reverse repos, with borrowing costs remaining at 1.80%.

https://internasional.kontan.co.id/news/bank-sentral-china-menahan-bunga-pinjaman-di-level-25
 

SoftBank's founder is seeking $100 billion to fund an AI chip project.

SoftBank's Masayoshi Son plans to raise up to $100 billion to support semiconductor companies developing chips for AI technology. The startup, codenamed Izanagi, will supply chips essential for AI development, enabling SoftBank to compete with US chip giant Nvidia. This move is a new endeavor for SoftBank after reducing its investment in startups. Son plans to create a company that can complement Arm Holdings Plc, SoftBank's chip design unit, and build an AI-based chip powerhouse. SoftBank is considering investing $30 billion into the startup, while another $70 billion is likely to come from Middle Eastern institutions. This investment could be one of the first in AI since the rise of ChatCGP.

https://internasional.kontan.co.id/news/pendiri-softbank-cari-dana-us-100-miliar-untuk-mendanai-proyek-chip-ai

OpenAI's valuation has reached $80 billion following the sharing of a tender offer.

OpenAI, a company backed by Microsoft, has completed a deal that values the artificial intelligence (AI) company at $80 billion. According to sources, OpenAI will sell existing shares in a tender offer, allowing employees to cash out their shares. This arrangement differs from traditional funding rounds that solely raise money for the business. OpenAI has not yet responded to a request for comment on this funding deal. Last year, venture capital firms acquired OpenAI shares, valuing the company at around $29 billion. OpenAI's upcoming launch of ChatGPT, an AI system that can convert text into video, has sparked interest in leveraging AI technology. Furthermore, OpenAI CEO Sam Altman is reportedly in discussions to raise funds for a chip venture to expand AI-related tools.

https://internasional.kontan.co.id/news/tender-offer-saham-valuasi-openai-tembus-us-80-miliar