Blue Origin’s New Glenn rocket exploded in a massive fireball while undergoing a test on a Florida launchpad Thursday evening. It deals a major setback to the Jeff Bezos-backed firm in its efforts to challenge a dominant SpaceX. (Source: Bloomberg)
Blue Origin’s New Glenn rocket exploded in a massive fireball while undergoing a test on a Florida launchpad Thursday evening. It deals a major setback to the Jeff Bezos-backed firm in its efforts to challenge a dominant SpaceX. (Source: Bloomberg)
Sea Ltd. has set up a dedicated team to scout for new investments in AI, part of a broader effort to accelerate forays into the technology as it hunts for its next growth engine beyond e-commerce. The investment unit sits directly under the president’s office and is one of several initiatives Sea’s established to dedicate capital toward internal and external AI projects, according to people famili...
Sea Ltd. has set up a dedicated team to scout for new investments in AI, part of a broader effort to accelerate forays into the technology as it hunts for its next growth engine beyond e-commerce. The investment unit sits directly under the president’s office and is one of several initiatives Sea’s established to dedicate capital toward internal and external AI projects, according to people familiar with the matter. The group, led by longtime executive Endong Zhang, evaluates potential investments in startups globally, said the people, who asked not to be identified discussing private information. Zhang also leads several other recently established teams dedicated to analyzing AI adoption within the company itself, the people added. Sea, the operator of online retailer Shopee and the Garena gaming platform, is making structural shifts after Chief Executive Officer Forrest Li declared last year that a trillion-dollar market capitalization was possible if the company doubled down on AI and “makes the right calls.” It joins a growing number of companies like rival Alibaba Group Holding Ltd. that are investing in AI to catalyze growth while competition in their core business intensifies. Zhang is one of the key executives tasked with helping steer a company-wide effort to adopt and deploy AI. A company spokesperson declined to comment on that endeavor. Read More: Sea CEO Li Sees Path to $1 Trillion Market Cap With Help of AI The company’s stock has taken a beating since September — when it was valued at roughly $116 billion — after this year’s surge in oil prices dampened consumer sentiment and inflated the cost of operations. Investors are now scrutinizing its growth trajectory. So far, Sea has been embedding AI in small ways like through product recommendations and seller tools. In February, it said it would work with Alphabet Inc. ’s Google to integrate AI across its operations — including developing AI shopping agents — to stay ahead of rivals. Southeast Asia’s domi...