ASIA BUSINESS OUTLOOK9OCTOBERSEA PARTNERS WITH GOOGLE TO DEVELOP AI APPLICATIONS ACROSS ITS BUSINESSSea Limited, the Singapore-based technology company behind Shopee, Garena and Monee, is working with Google to explore new ways to use artificial intelligence (AI). The partnership will focus on improving online shopping, gaming and digital financial services across Sea's businesses.The companies aim to develop AI tools that make their services easier to use and help improve business operations. The partnership builds on their existing relationship and comes as technology companies across Southeast Asia look for ways to use AI in everyday services. Ubisoft plans to cut 70 jobs at its Singapore studio as the French video game company looks to reduce costs following a major annual loss. The company reported a net loss of around US$1.7 billion for the 2025­26 financial year. It is also planning to close its RedLynx studio in Finland as part of efforts to restructure its operations and improve its financial position.The Ubisoft job cuts come as the company reviews its workforce and spending across different markets. Its Singapore studio has contributed to several major games, including titles in the Assassin's Creed franchise. While the planned cuts will affect employees, the company intends to keep the Singapore studio operating as part of its global game development network. Japan plans to invest up to $21 billion in two semiconductor factories in New York, which will be operated by US chipmaker GlobalFoundries. The investment is expected to increase chip production in the US, create jobs and support industries that depend on a steady supply of semiconductors, including automotive, electronics and telecommunications.The project is part of a wider economic agreement between Japan and the United States, under which Japan has committed to investing $550 billion in the US. Construction of the first factory is expected to begin in 2026, with production planned for 2029. The decision to build the second factory will be taken later. UBISOFT TO CUT 70 SINGAPORE JOBS AFTER $1.7 BILLION ANNUAL LOSSJAPAN TO INVEST $21 BILLION IN GLOBALFOUNDRIES CHIP PLANTS IN NEW YORKSK HYNIX SEEKS US APPROVAL TO SHIP MORE CHIPMAKING TOOLS TO CHINASK Hynix is seeking permission from the US government to send more American-made chipmaking equipment to its facility in Dalian, China. The South Korean company reportedly plans to use the equipment to increase NAND flash memory production. The request is also linked to plans by its US subsidiary, Solidigm, to build a new memory chip factory in the United States. The move comes as demand for memory chips grows, largely due to investments in artificial intelligence (AI) and cloud computing. However, US restrictions on semiconductor technology exports to China have made it more difficult for chipmakers to upgrade their facilities. SK Hynix now needs approval to move forward with its equipment plans.
< Page 8 | Page 10 >