logo
Hong Kong plans new AI supercomputing centre to boost tech hub status

Hong Kong plans new AI supercomputing centre to boost tech hub status

The Hong Kong government is set to enhance its computing power support for start-ups as part of its ambition to become a leading technology hub, according to the city's innovation chief, as local start-ups seek global clients at one of Europe's largest technology shows.
Hong Kong planned to establish a new supercomputing centre at Sandy Ridge in the
Northern Metropolis – part of a government blueprint that aims to transform a large swathe of land in the New Territories into an economic hub, according to Secretary of Innovation, Technology and Industry Sun Dong.
Speaking to the Post on the sidelines of the
VivaTech conference in Paris on Friday, Sun said the centre would provide computing power for Hong Kong and other parts of the Greater Bay Area, as well as surrounding regions.
Hong Kong's first Artificial Intelligence Supercomputing Centre, launched in Cyberport in December, is expected to deliver 3,000 petaflops of computing power by the end of this year.
The China Pavilion at the VivaTech fair in the Paris. Photo: AFP
The expansion of artificial intelligence (AI) computing facilities comes as the city seeks to reposition itself as an international innovation and technology hub while navigating increasing US restrictions on access to advanced chips.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lack of National Games tickets for groups a snag for Hong Kong's tourism sector
Lack of National Games tickets for groups a snag for Hong Kong's tourism sector

South China Morning Post

time2 minutes ago

  • South China Morning Post

Lack of National Games tickets for groups a snag for Hong Kong's tourism sector

Hong Kong tourism representatives have raised concerns that no tickets for the coming National Games will be allocated to travel groups, and that each buyer can only purchase six seats for any event, limiting the types of visitor packages that companies can offer. Yeung Sai-hing, general manager of culture, sport and tourism at China Travel Service, the designated offline ticket seller for Hong Kong events, said on Thursday that his agency was striving to create more travel products, but the organising committee had not made any block bookings available. 'Currently, there is nothing specifically reserved for group tickets or packages,' he told a radio programme. 'But I think, based on the ticketing situation, there is a great need, because the market has this need, and we must satisfy different customer groups … and we also want to launch [more] tourism products.' Timothy Chui Ting-pong, executive director of the Hong Kong Tourism Association, also noted a 'mismatch' between the short-notice travel habits of Greater Bay Area tourist groups and the time needed to arrange tour packages that include attending competitions at the National Games. 'As the tickets are mainly sold to individual travellers as separate tickets, it may not be possible to coordinate and design tourism products that will allow people to visit the events,' Chui said.

Hong Kong developer Road King defaults after creditors reject debt amendments
Hong Kong developer Road King defaults after creditors reject debt amendments

South China Morning Post

time2 hours ago

  • South China Morning Post

Hong Kong developer Road King defaults after creditors reject debt amendments

Road King Infrastructure suspended US$22.6 million in interest payments and will defer distributions of US$56.5 million on perpetual securities, making it the first Hong Kong-based developer to default on bond payments since China's property crisis began in 2021. Advertisement The firm failed to win enough creditor consent for debt amendments aimed at easing short-term cash strain and missed interest payments on two notes due in July, it said in a filing with the Hong Kong stock exchange on Thursday. The company said it would suspend all principal and interest on its offshore bank debt, notes and perpetual securities 'to ensure fair and equitable treatment of all offshore creditors'. The developer had US$1.51 billion in offshore debts, which included bank loans and notes, plus US$890.5 million in perpetual securities. It will suspend payments on US$22.62 million in interest, with deferred distribution on the perpetual securities amounting to US$56.46 million. The decision could prompt creditors to demand quicker repayment or take other actions, though the company said it had not received any such notices. Road King would 'explore a holistic solution' to address its current challenges, but did not intend to use proceeds from asset sales to repurchase its notes and perpetual securities. Instead, it would use such proceeds to fund a broader restructuring. The company said it aimed to discuss restructuring terms with a small group of creditors, starting with the bondholders who provided feedback on earlier proposals. It also welcomed discussions and constructive dialogue with other creditors, it added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store