Latest news with #BenchmarkCapital
Yahoo
20-07-2025
- Business
- Yahoo
Netflix Investors Underwhelmed By Results
Netflix earnings beat expectations, but shares slipped. Bloomberg's Lucas Shaw discusses the results and Benchmark Capital Analyst Dan Kurnos explains what concerns are lingering for investors. Shaw and Kurnos join Ed Ludlow on "Bloomberg Tech." Error 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
Bloomberg
18-07-2025
- Business
- Bloomberg
Netflix Investors Underwhelmed By Results
Bloomberg Technology TV Shows Netflix earnings beat expectations, but shares slipped. Bloomberg's Lucas Shaw discusses the results and Benchmark Capital Analyst Dan Kurnos explains what concerns are lingering for investors. Shaw and Kurnos join Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
Independent Singapore
14-07-2025
- Business
- Independent Singapore
China's Manus AI shifts global HQ to Singapore
SINGAPORE: Chinese artificial intelligence (AI) firm Manus AI has shifted its headquarters from China to Singapore. This will permit access to key resources like Nvidia's high-quality chips, which are facing more restrictions in China due to U.S. export controls. Opening its new HQ in the city-state, Manus also plans to hire more than 20 local professionals, including AI engineers and data analysts, adding skills and funding to the area. The shift also saw it lay off staff in China, with about 40 core personnel transferred to Singapore. It signals confidence in Singapore as an AI hub. Manus AI's consumer-focused technologies, such as Doubao's voice cloning and video creation, could motivate local entrepreneurs and grow the tech scene. With operations in Tokyo and California, this change makes Singapore an important link between Eastern and Western tech markets. The global generative AI market, which deals in tools for creating text, videos, images and other content, is seeing strong growth. Industry estimates put its global value at US$36.6 billion (S$49.41 billion) in 2024 and could reach US$67.18 billion this year. This is forecast to grow to US$763.75 billion by 2032. However, this also brings challenges for Singapore. Manus is backed by a US$75 million investment from Benchmark Capital that valued it at US$500 million. This means local companies in Singapore will struggle to compete for talent and investment against such well-resourced companies. The expansion of Manus AI and other AI firms means that Singapore's ecosystem needs to address potential shortages, especially in AI infrastructure like data centres and graphics processing units (GPUs). This means local players will face heightened competition as they are often smaller in scale and either embrace rapid innovation or carve out a niche to survive. It also pulls Singapore into the drama of the U.S.-China tech rivalry, with the firm already under scrutiny by the U.S. Treasury Department. This is similar to concerns over Tiktok's data practices. This highlights a turbulent regulatory and political landscape. For entrepreneurs and companies in this space, the situation will increase the need to balance compliance with innovation. Meanwhile, authorities will have to strike a balance between maintaining Singapore's neutral status while also supporting tech growth. Companies like Shein and TikTok similarly maintain corporate HQs in Singapore. Attracting companies like Manus is more than just an economic shift; it's a strategic move. It signals strong sentiment in Singapore as an international business hub, but it also requires the state to keep promoting an environment that supports tech development while managing the challenges of global tech competition.
Business Times
09-07-2025
- Business
- Business Times
Chinese AI startup Manus accelerates move to Singapore amid intensifying AI race
[SINGAPORE] Manus is hiring more than 20 people for Singapore while shrinking its operations in Beijing and Wuhan, months after the Chinese-founded AI pioneer secured the backing of a prominent Silicon Valley investor. The startup has laid off dozens of China-based staff and is preparing to shift many of those roles to Singapore, according to a person familiar with the situation, asking to remain anonymous detailing a private matter. This week, it posted ads for more than a score of engineers, product and data specialists for Singapore and elsewhere, signalling its global ambitions. It is also hiring in San Mateo, California and Tokyo. Manus is embarking on a hiring spree just months after its global launch heightened US fears about China's technological capabilities. News that Benchmark Capital led a funding round valuing the firm at close to US$500 million drew criticism from industry figures including Founders Fund partner Delian Asparouhov. Manus did not respond to an email seeking comment. Manus – whose product is not available in China – captured the attention of investors with autonomous AI agents that help execute tasks for users. In recent weeks, the company – whose agent also analyses company finances and social media engagement – has beefed up its offerings to include task scheduling and automated slide deck creations. Manus in March previewed what it called a general AI agent capable of screening resumes, creating trip itineraries and analysing stocks in response to basic instructions. Its service performed better on some fronts than OpenAI's Deep Research, the company claimed at the time. Since then, companies from ByteDance to Baidu have followed suit with their own competing agentic AI platforms. Like DeepSeek, Manus sparked questions about the US lead on artificial intelligence – this time in a product category that American tech companies see as a key investment area. With tensions ratcheting up, the startup recently set up its global headquarters in Singapore, mimicking moves by other Chinese tech firms including ByteDance and Genshin Impact studio Mihoyo. Its founders and executives are currently on a worldwide tour to engage with developers. Their scheduled stops have so far included San Francisco and Paris, as well as Nepal, Morocco and Slovakia. BLOOMBERG
Business Times
09-07-2025
- Business
- Business Times
Manus quickens shift from China to Singapore as AI race heats up
[SINGAPORE] Manus is hiring more than 20 people for Singapore while shrinking its operations in Beijing and Wuhan, months after the Chinese-founded AI pioneer secured the backing of a prominent Silicon Valley investor. The startup has laid off dozens of China-based staff and is preparing to shift many of those roles to Singapore, according to a person familiar with the situation, asking to remain anonymous detailing a private matter. This week, it posted ads for more than a score of engineers, product and data specialists for Singapore and elsewhere, signalling its global ambitions. It is also hiring in San Mateo, California and Tokyo. Manus is embarking on a hiring spree just months after its global launch heightened US fears about China's technological capabilities. News that Benchmark Capital led a funding round valuing the firm at close to US$500 million drew criticism from industry figures including Founders Fund partner Delian Asparouhov. Manus did not respond to an email seeking comment. Manus – whose product is not available in China – captured the attention of investors with autonomous AI agents that help execute tasks for users. In recent weeks, the company – whose agent also analyses company finances and social media engagement – has beefed up its offerings to include task scheduling and automated slide deck creations. Manus in March previewed what it called a general AI agent capable of screening resumes, creating trip itineraries and analysing stocks in response to basic instructions. Its service performed better on some fronts than OpenAI's Deep Research, the company claimed at the time. Since then, companies from ByteDance to Baidu have followed suit with their own competing agentic AI platforms. Like DeepSeek, Manus sparked questions about the US lead on artificial intelligence – this time in a product category that American tech companies see as a key investment area. With tensions ratcheting up, the startup recently set up its global headquarters in Singapore, mimicking moves by other Chinese tech firms including ByteDance and Genshin Impact studio Mihoyo. Its founders and executives are currently on a worldwide tour to engage with developers. Their scheduled stops have so far included San Francisco and Paris, as well as Nepal, Morocco and Slovakia. BLOOMBERG
