Exclusive: OpenAI flags China's global ambitions
OpenAI says Chinese competitor Zhipu AI is aggressively courting governments in developing countries, aiming to entrench Chinese AI systems ahead of Western rivals.
Why it matters: OpenAI and others argue that it's a must-win race between U.S. and China over whose technology will control a bot-filled world.
Driving the news: OpenAI says a company called Zhipu AI is trying to pitch governments looking to invest in AI on their services as an alternative to the OpenAI for Countries push that launched last month.
Zhipu AI is a foundation model developer that rivals DeepSeek with global ambitions, OpenAI says.
"While promoting the development of domestic large-scale model technology, we also hope to contribute China's AI power to the world," Zhipu AI Chairman Liu Debing said last week.
The company has backing from the Chinese government and from a unit of Saudi oil giant Aramco, which participated in the company's recent $400 million funding round.
Zoom in: OpenAI says its analysts have found that Zhipu is trying to make inroads in various countries in Asia and Africa.
"The goal is to lock Chinese systems and standards into emerging markets before US or European rivals can, while showcasing a 'responsible, transparent and audit-ready' Chinese AI alternative," the company said in a blog post.
OpenAI, meanwhile, has been pitching companies in the Middle East, Asia and other regions to partner on AI infrastructure. The company announced its first deal last month: a partnership with the United Arab Emirates to build a massive Stargate UAE data center in Abu Dhabi.
The big picture: The Trump Administration, tech leaders and others have positioned the battle over AI as the biggest of several must-win technology races, along with battles for leadership in semiconductors, quantum computing and alternative energy.
Through a series of executive orders, Trump has rolled back policies and regulations from the prior administration in favor of an approach focused on fostering U.S. supremacy.
"We believe that excessive regulation of the AI sector could kill a transformative industry just as it's taking off, and we'll make every effort to encourage pro-growth AI policies," Vice President J.D. Vance said at the Paris AI Action Summit in February.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Kandal M Venture Limited Announces Pricing of Initial Public Offering and Listing on Nasdaq
NEW YORK, June 25, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (the 'Company'), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, announced the pricing of its initial public offering (the 'Offering') of 2,000,000 Class A ordinary shares (the 'Class A Ordinary Shares') which was conducted on June 24, 2025, at a public offering price of $4.00 per Class A Ordinary Share (the 'Offering Price'). The Class A Ordinary Shares are expected to begin trading on the Nasdaq Capital Market on June 25, 2025, under the symbol 'FMFC.' The Offering is expected to close on June 26, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds for (i) broadening its customer base by expanding its geographical reach to other key markets, including the European markets, (ii) enhancing its production capacity, (iii) establishing a new design and development center for enhancing its product development capabilities, and (iv) additional working capital and other general corporate purposes. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 Class A Ordinary Shares of the Company, at the Offering Price, less underwriting discounts. The Offering is being conducted on a firm commitment basis. Dominari Securities LLC acted as the representative of the underwriters, and Revere Securities LLC acted as the co-underwriter (collectively, the 'Underwriters') for the Offering. Loeb & Loeb LLP acted as U.S. legal counsel to the Company and The Crone Law Group, P.C. acted as legal counsel to the Underwriters for the Offering. The Offering is being conducted pursuant to the Company's Registration Statement on Form F-1 (File No. 333-282786), as amended, previously filed with, and subsequently declared effective by the U.S. Securities and Exchange Commission (the 'SEC') on June 23, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. You may obtain these documents for free by visiting EDGAR on the SEC's website at Alternatively, electronic copies of the final prospectus relating to this Offering may be obtained from Dominari Securities LLC by email at info@ by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by telephone at +1 (212) 393-4500; or from Revere Securities LLC by email at contact@ by standard mail to Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY 10022, or by telephone at +1 (212) 688-2350. Before you invest, you should read the registration statement, the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Kandal M Venture Limited Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. Kandal M Venture Limited primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets. For more information, please visit the Company's website at FORWARD-LOOKING STATEMENTS Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations, including the trading of its Class A Ordinary Shares or the closing of the Offering. Investors can find many (but not all) of these statements by the use of words such as 'approximates,' 'believes,' 'hopes,' 'expects,' 'anticipates,' 'estimates,' 'projects,' 'intends,' 'plans,' 'will,' 'would,' 'should,' 'could,' 'may' or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company's final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company's securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Contacts: Company:Kandal M Venture Limited Investor Relations Contact:Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province, Kingdom of CambodiaEmail: enquiry@ +855 23425205 Investor Relations Contact:Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, New York 10036Office: (646) 893-5835 x2Email: info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
New Mideast tensions fail to boost trans-Pacific container rates
Global energy markets and container shipping were rocked late last week as Israel and Iran continued to trade missile strikes, as well as by ongoing concerns over Tehran's retaliation for U.S. bombings and the possible closure of the Strait of Hormuz. While these scenarios held significant implications for oil markets and logistics, a tentative ceasefire between the U.S. and Iran has offered a degree of relief, potentially averting major disruptions. Tanker flows through the Strait of Hormuz and operations at Dubai's Port of Jebel Ali, busiest in the Persian Gulf, largely remained normal even during the conflict, as did activities at Israeli ports. Iranian missiles did claim a number of Israeli fatalities in at least one location. With the immediate Middle East crisis seemingly de-escalating, attention is now shifting back to the U.S. trade war and upcoming tariff expirations. Countries other than China that are subject to U.S. reciprocal tariffs have until July 9 to finalize agreements, or they could face increased duties. Progress in negotiations with major trading partners like the European Union, Canada, and Vietnam remains limited, though a tentative agreement has been reached with the United Kingdom. President Donald Trump has indicated a willingness to apply tariffs unilaterally if deals aren't met, though some administration officials suggest extensions for those negotiating in good faith. In the China-U.S. trade imbroglio, a deal to maintain a 30% baseline on Chinese imports was anticipated, but details have been scarce. Despite this, the initial surge in demand following the May 12 tariff pause, ahead of the August 12 deadline for reduced U.S. tariffs, may be subsiding. Carriers, having increased trans-Pacific capacity by 13% since March, are now seeing container spot rates decline sharply, particularly to the West Coast. SONAR's Freightos Baltic Index showed Shanghai-Long Beach prices are back to late May levels at approximately $3,700 per forty foot equivalent unit (FEU), and East Coast rates have dropped from $7,200 to $6,300 per FEU. While Asia-Europe rates saw a 6% increase last week to $3,100 per FEU, Asia-Mediterranean prices are down 9% to $4,400. Freightos research chief Judah Levine in a note said that these trends suggest that despite the onset of peak season demand and some capacity shifts, market conditions are not supporting mid-month rate increases, though prices remain significantly higher than at the end of May. Find more articles by Stuart Chirls maritime chief Sola steps down Maersk stops Haifa service prior to Iran missile attacks Tanker rates surge, Maersk still sailing through Strait of Hormuz Solar to power half of Port Newark box terminal's energy needs The post New Mideast tensions fail to boost trans-Pacific container rates appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
21 minutes ago
- Yahoo
US stocks approach their all-time high as oil prices tumble
NEW YORK (AP) — U.S. stocks rose toward their all-time high on Tuesday after oil prices eased further on hopes that Israel's war with Iran will not damage the global flow of crude. The S&P 500 climbed 1.1%, following up on big gains for stocks across Europe and Asia, after President Donald Trump said late Monday that Israel and Iran had agreed to a 'complete and total ceasefire.' The main measure of Wall Street's health is back within 0.8% of its record set in February after falling roughly 20% below during the spring. The Dow Jones Industrial Average jumped 507 points, or 1.2%, and the Nasdaq composite rallied 1.4%. The strongest action was again in the oil market, where a barrel of benchmark U.S. crude fell 6% to settle at $64.37. Brent crude, the international standard, had a similar drop. The fear throughout the Israel-Iran conflict has been that it could squeeze the world's supply of oil, which would pump up prices for gasoline and hurt the global economy. Iran is a major producer of crude, and it could also try to block the Strait of Hormuz off its coast, through which 20% of the world's daily oil needs passes on ships. Oil prices began falling sharply on Monday after Iran launched what appeared to be a limited retaliatory strike to the United States' entry into the war, one that did not target the production or movement of oil. They kept falling even after attacks continued past a deadline to stop hostilities early Tuesday. Trump later said that the ceasefire was 'in effect.' Oil prices have dropped so much in the last two days that they're below where they were before the fighting began nearly two weeks ago. With the global oil market well supplied and the OPEC+ alliance of producing countries steadily increasing production, oil prices could be headed even lower as long as the ceasefire holds and a lasting peace solution can be found, said Carsten Fritsch, commodities analyst at Commerzbank. Falling oil prices should take some pressure off inflation, and that in turn could give the Federal Reserve leeway to resume cutting interest rates. Wall Street loves lower rates because they boost the economy by making it cheaper for U.S. households and businesses to borrow money to buy a car or build a factory. But they could also give inflation more fuel. That threat is why the Fed has been hesitant to cut rates this year after lowering them through the end of last year. The Fed has said repeatedly that it wants to wait and see how much Trump's tariffs will hurt the economy and raise inflation before committing to its next move. So far, the economy seems to be holding up OK, though a report on confidence among U.S. consumers came in weaker than economists expected on Tuesday, and inflation has remained only a bit above the Fed's 2% target. Trump has been pushing loudly for more cuts to rates. And two of his appointees to the Fed have said recently they may consider cutting rates as soon as the Fed's next meeting next month. Fed Chair Jerome Powell remains more cautious, though he he did indicate Tuesday that the Fed's next move is likely to be a cut. Asked during testimony before a Congressional committee whether a reduction could arrive as soon as July, Powell said, 'We will get to a place where we cut rates, sooner rather than later – but I wouldn't want to point to a particular meeting. I don't think we need to be in any rush because the economy is still strong.' That helped Treasury yields ease in the bond market. The yield on the 10-year Treasury fell to 4.29% from 4.34% late Monday. The two-year Treasury yield, which more closely tracks expectations for Fed action, fell to 3.81% from 3.84%. On Wall Street, cruise operator Carnival steamed 6.9% higher after the cruise operator delivered a much bigger profit for the latest quarter than analysts expected. CEO Josh Weinstein said it's seeing strong demand from people booking cruises close to the departure date, and customers are spending strongly once on board. Carnival also raised its forecast for an underlying measure of profit for the full year. Uber Technologies rose 7.5% after it said customers in Atlanta can use its app to ride in Waymo autonomous vehicles. Coinbase Global rallied 12.1% as the cryptocurrency exchange rose with the price of bitcoin, which jumped back above $105,000. All told, the S&P 500 rose 67.01 points to 6,092.18. The Dow Jones Industrial Average climbed 507.24 to 43,089.02, and the Nasdaq composite rallied 281.56 to 19,912.53. In stock markets abroad, indexes rallied at least 1% everywhere from France to Germany to Japan following the announcement of the Israel-Iran ceasefire. Hong Kong's jump of 2.1% and South Korea's leap of 3% were two of the strongest moves.
