Latest news with #HermitageCapital
South China Morning Post
6 days ago
- Business
- South China Morning Post
China's Hermitage Capital bets big on AI as it sees tech shaping the future
One of Asia's top private equity funds is betting big on artificial intelligence and humanoid robots, envisioning a future where AI-powered implants are plugged into human brains, allowing people to experience the world in ways once confined to science fiction. The euphoria surrounding AI will define this decade, according to Sean Xiang Yuqiu, founder of Hermitage Capital . 'It's just like 1995, when the internet era took off and ran for 20 years, giving rise to legendary companies like Yahoo, Amazon and Google,' he said in an interview with the Post recently. Xiang, who has been featured in the latest edition of Fortune China magazine's 40 Chinese business elites under 40 released on Tuesday, said Hermitage would invest at least US$500 million in the AI and robotic sectors over the next three years. With a decade of experience at Wall Street investment bank JPMorgan Chase before founding Hermitage Capital in 2017, Xiang said the company's investments focused on building a global AI ecosystem, ranging from hardware like graphics processing units to large language models (LLMs) and intelligent robotics. 03:16 China shows off latest AI innovations at international conference in Shanghai China shows off latest AI innovations at international conference in Shanghai He drew a parallel to humanoid robot making to illustrate his investment strategy. 'You need a brain to process information, eyes to observe the world and blood as your power source,' he said. 'It must also sense the external world and respond to it effectively. We've invested across all these areas, from foundational AI models to robot chips to solid-state batteries and home robots that free people from tedious chores.' Computer vision led the first wave of AI's evolution, which was now largely mature, Xiang said. 'We are currently riding the natural processing language wave, dominated by LLMs. The foundation models' valuation will still have a five to 10 times return potential.'
Bloomberg
25-02-2025
- Business
- Bloomberg
Trump Team Seeks To Toughen US Chip Curbs Over China; Bitcoin Slides
Bloomberg has learnt that Donald Trump's administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China's chip industry, an early indication the new US president plans to expand efforts that began under Joe Biden to limit Beijing's technological prowess. Meanwhile Bitcoin tumbled below $90,000 to hit the lowest level since mid-November, as the rally that followed Donald Trump's election to the White House reverses under the weight of his trade tariffs and a string of industry setbacks. Today's guests: Christian Mueller-Glissmann, Goldman Sachs; Bill Browder, Hermitage Capital CEO; Michael Hartnett, BofA Chief Investment Strategist (Source: Bloomberg)
