Bank Negara Indonesia Strengthens Partnership with Cloudera to Scale AI-Powered Business Transformation
BNI is among the first adopters of Cloudera AI Inferencing, built on NVIDIA NIM microservices. This on-premises service enables secure, reliable deployment of open-source large language models (LLMs) on NVIDIA accelerated computing—empowering BNI to scale generative AI securely while maintaining full control over sensitive data. Full deployment is expected by the end of 2025, with BNI working closely with Cloudera and NVIDIA technology to ensure performance, compliance, and resilience at every step.
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The Sun
2 days ago
- The Sun
US considers stake in Intel to boost chip industry, reports say
THE Trump administration is in talks with Intel to have the U.S. government potentially take a stake in the struggling chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan. Intel's shares surged over 7% in regular trading and then another 2.6% after the bell. The plan stems from a meeting this week between President Donald Trump and Intel CEO Lip-Bu Tan, according to the report. The meeting came days after Trump publicly demanded the resignation of Tan over his investments in Chinese tech companies, some linked to the Chinese military. Intel declined to comment on the report but said it was deeply committed to supporting President Trump's efforts to strengthen U.S. technology and manufacturing leadership. 'Discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration,' said White House spokesman Kush Desai. The details of the stake and price are still being discussed, according to the report. Any agreement and potential cash infusion will help the years-long efforts to turn around the company's fortunes. Once the undisputed leader in chip manufacturing, Intel has lost its position in recent years. The chipmaker's stock market value has plummeted to $104 billion from $288 billion in 2020. Intel's profit margins - once the envy of the industry - are also at about half their historical highs. Tan has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to heavy losses. Any agreement would likely help Intel build out its planned chip complex in Ohio, Bloomberg reported. Intel's planned $28 billion chip fabrication plants in Ohio have been delayed, with the first unit now slated for completion in 2030 and operations to begin between 2030 and 2031, pushing the timeline back by at least five years. NATIONAL SECURITY Taking a stake in Intel would mark the latest move by Trump, a Republican, to deepen the government's involvement in the U.S. chip industry, seen as a vital security interest to the country. Earlier this week, Trump made a deal with Nvidia to pay the U.S. government a cut of its sales in exchange for resuming exports of banned AI chips to China. - Reuters
The Star
2 days ago
- The Star
Hedge funds shift bets to double down on Big Tech amid AI boom
NEW YORK (Reuters) -Wall Street's largest hedge funds, Bridgewater Associates, Tiger Global Management and Discovery Capital, increased their exposure to Big Tech in the second quarter amid a generational boom in the growth of artificial intelligence. During the June quarter, hedge funds cut their exposure to laggards in industries like aerospace and defense, and consumer and retail, as part of a broader move back to momentum investing. It marks a big shift from earlier this year when bets on Big Tech had soured for top money managers due to tariff-fueled volatility in financial markets, with investor concerns around rising inflation and fears of a bubble in AI triggering a sell-off in "Magnificent Seven" stocks. Since then, tech stocks have staged a big comeback. The S&P 500 is up 10% so far this year, buoyed largely by the largest tech companies, which account for nearly a third of the combined market cap of companies on the index. Outside technology, some hedge funds, such as Lone Pine and Discovery, also bet on UnitedHealth Group. Berkshire Hathaway and Michael Burry's Scion Asset Management also unveiled bets on the insurer, while Soros Fund Management boosted an existing position. Shares in UnitedHealth are down 46% this year, as the company faces rising costs, a U.S. Department of Justice probe, a cyberattack and the shooting of former top executive Brian Thompson last December. The fund's positions were revealed in quarterly securities filings known as 13Fs. While backward-looking, these filings typically reveal what funds owned on the last day of the quarter and are one of the few ways hedge funds and other institutional investors have to declare their positions. Below are the details of the changes in the holdings of the top hedge funds: BRIDGEWATER ASSOCIATES Bridgewater Associates added more shares in Nvidia, Alphabet and Microsoft in the second quarter. The macro hedge fund founded by Ray Dalio more than doubled its bets in Nvidia. It ended June with 7.23 million shares in the chipmaker, or 154.5% more than it had at the end of March. Nvidia was Bridgewater's biggest bet in a single stock, totaling $1.14 billion. Its holdings in Alphabet and Microsoft went up by 84.1% and 111.9%, respectively, amounting to $987 million and $853 million. Other AI-related stocks added were Broadcom (+102.7%), to 317.8 million shares, or $317 million, and Palo Alto Networks (+117%), to 313.8 million, or $314 million. DISCOVERY CAPITAL Discovery Capital, whose founder Rob Citrone has recently been bullish on Mexico's America Movil due to its exposure to Latin America, doubled its stake in the wireless provider during the second quarter. For the quarter ended June 30, the fund amassed another 2.65 million shares, valuing its current holding in America Movil at about $95 million. Citrone's hedge fund, which generated a 52% windfall on its investments last year, has increased its exposure to Latin America as part of a strategy to diversify from U.S. holdings. During the quarter, Discovery increased its holdings in Big Tech, as it more than doubled its stake in Meta Platforms, the parent company of Facebook, while also betting on booming demand for AI as it took a new position in Nvidia-backed cloud provider CoreWeave. The hedge fund also increased its position in UnitedHealth by 13%. TIGER GLOBAL MANAGEMENT Tiger Global Management bought more stocks in some Magnificent Seven companies in the second quarter, including Alphabet, Nvidia, Microsoft and Meta, its 13Fs showed. Chase Coleman's hedge fund added roughly 4 million shares of Amazon and ended June with roughly 10 million shares, worth $2.34 billion. The fund also increased its bets in smaller AI-players. It added over 800,000 shares in chip-making equipment supplier Lam Research Corp, ending June with 5.26 million shares, valued at $512 million. COATUE MANAGEMENT Many changes in Philippe Laffont's Coatue Management portfolio were also around AI-related stocks. It unveiled new positions in both Arm Holdings and Oracle, adding stakes worth roughly $750 million and $843 million, respectively. Both companies have boosted AI-related business initiatives. Coatue also increased its holdings in Nvidia-backed CoreWeave, adding 3.39 million shares in the second quarter, with its stake in the company worth $2.9 billion. LONE PINE Lone Pine Capital took a new position in UnitedHealth Group, buying up 1.69 million shares worth about $528 million during the June quarter. (Reporting by Carolina Mandl and Anirban Sen in New York; Editing by Leslie Adler)
The Star
2 days ago
- The Star
Trump's surprise Nvidia deal signals trade shift
NEW YORK: President Donald Trump's controversial plan to take a cut of revenue from chip sales to China has US companies reconsidering their plans for business with the country, offering a model for circumventing years of trade tensions. Experts and people familiar with the matter said the surprise deal, in which Nvidia Corp and Advanced Micro Devices Inc (AMD) agreed to pay 15% of their revenues from Chinese AI chip sales to the United States, provides a path to enter the Chinese market despite severe export controls, tariffs and other trade barriers. The question that companies must now confront is whether the risk is worth taking. People familiar with the matter, who asked not to be identified discussing private deliberations, said companies are struggling to figure out what the president's order means for their future, especially given the unpredictable nature of Trump's decision-making. 'This is truly bizarre and unusual, and the troubling thing – beyond the individual instances of AMD and Nvidia – is the possibility that this will be expanded,' said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics. 'Everything is now 'national security,' according to the new definition, which means it's all subject to export licences and then they give you a license based on your contribution.' There are concerns that US trade agencies could begin charging fees to companies every time there's a meeting to discuss tariffs, according to people familiar with the matter who asked not to be identified discussing private deliberations. Trump administration officials defend the idea as a smart way to generate revenue for the US government and suggest it will extend well beyond the chips sector. 'I think we could see it in other industries over time,' Treasury Secretary Scott Bessent said in an interview with Bloomberg Television on Wednesday. 'I think right now this is unique, but now that we have the model and the beta tests, why not expand it?' Bessent defended the deal and rejected any national-security concerns around the decision to sell Nvidia's H20 chip to China – something that had been earlier barred for fear of giving China a boost in the artificial-intelligence (AI) race. 'There are no national security concerns here,' Bessent said. 'We would not sell any of the advanced chips. So, the H20, I don't know whether you'd say they're four, five, six levels down the chips stack.' Either way, the deal highlights how Trump has pushed to open a wave of new revenue streams including by taking ownership shares of companies or extracting higher fees to live or work in the United States. The US is weighing sales of a so-called 'gold card' residency permit, it won a 'golden share' to have direct say over corporate actions by United States Steel Corp, and it's secured investment pledges and potential revenue-sharing in country-level tariff talks. That's aside from the barrage of product tariffs that have at times left massive dislocations in globally traded markets. The matter surprised China hawks in Congress, who have been unimpressed by the administration's reassurances. Rep John Moolenaar, the Michigan Republican who chairs the US House Select Committee on China, questioned the legal basis for the move and suggested it does an end-run around controls put in place to limit the sale of sensitive technology to US adversaries. 'Export controls are a front-line defence in protecting our national security, and we should not set a precedent that incentivises the government to grant licences to sell China technology that will enhance its AI capabilities,' he said. It also raises questions about where the administration will steer the revenue. Trump has mused about issuing tariff rebate checks – though he has yet to seriously pursue the idea – while at other times he's said it would go toward narrowing the large budget deficit. The administration had debated launching a sovereign wealth fund before shelving those plans for now. It's too soon to say whether the administration will seek to revive the fund and steer revenue there, one official familiar with deliberations said. 'Trump's aides argue that these measures will strengthen America's AI leadership by maximising its global influence and market share,' Hal Brands, a professor at the Johns Hopkins School of Advanced International Studies and a former Pentagon official, wrote in Bloomberg Opinion. 'Yet it is also possible that they will simply eat into America's innovation advantage.' — Bloomberg
