AI Business Asia: OpenAI Revenue Breakdown + Lawsuit in the same week

In today’s newsletter:

• China’s AI companies are venturing abroad - what does that mean for the world?

• OpenAI ‘s rollercoaster week: Project Strawberry, revenue projections, lawsuit and a failed AI safety test.

• Nvidia tops up TSMC investment by 25%

• 4 new AI tools in the spotlight

• 5 new investments

Read time: 4-6 mins

China's AI Companies Are Venturing Abroad: What Does it Mean for the World?

This article is the second of a two-part piece that aims to give readers a deeper understanding of the Chinese AI space, its players, and the implications of the China-US AI ecosystem split. You can read the first part here → “How is China’s AI scene rising to the occasion in the midst of the global AI ecosystem split?

Key topics include:

• Introduction of top 25 Chinese-developed AI products and the rise of the world’s AI app factory

• Diving into the motivations for international expansion and hurdles these companies face

• How will the scales tip for startups and enterprises around the world

Read more here.

News from Asia:

• Nvidia increases its investment in Taiwan Semiconductor Manufacturing Company (TSMC) by 25%

• Hong Kong government is aggressively wooing companies to relocate; Pudu Robotics announces new R&D centre 

• New EU AI rules will increase compliance costs for Chinese tech companies with higher spend on documentations and audits.

• Asia VC Funding is at its lowest since 2015; growth rounds lowest total in a quarter since 2019.

News from the West:

• OpenAI’s very interesting week:

  • New “secret” reasoning project Strawberry

  • Sam Altman’s projection of US$3.4B ARR

  • Whistleblowers filed a complaint with SEC to investigate restrictive non-disclosures

  • Employees reported failing first test for AI safety

• Microsoft's $1.5B investment into G42 under scrutiny over concerns about transfer of sensitive technology and G42’s historic ties to China.

• Amazon launches Rufus, an AI shopping assistant, just in time for Prime Day

• Intuit lays off 10% of staff to focus on AI

• Mark your calendars: Meta to launch largest Llama 3 model on July 23

Trending Tools & Apps

1. Castmagic - Turn audio data into ready to use content

2. AI Web Designer - Redesign your website in seconds with AI

3. DeepL - AI document translator for 32 languages

4. Fotor - A simplified AI photo editing tool