Apollo Global Management has made its first dedicated hire for a $1 billion private credit fund aimed at Singapore’s high-growth enterprises, people familiar with the matter said, as the city-state seeks to strengthen its foothold in the asset class. Singapore-based Wei Ming Wong will assume the role of principal and begin later this month, the people said, who asked not to be identified discussin...
Apollo Global Management has made its first dedicated hire for a $1 billion private credit fund aimed at Singapore’s high-growth enterprises, people familiar with the matter said, as the city-state seeks to strengthen its foothold in the asset class. Singapore-based Wei Ming Wong will assume the role of principal and begin later this month, the people said, who asked not to be identified discussing private matters. In his new role, Wong will focus on originating and analyzing deals for companies eligible to tap the fund, they said. He was earlier a vice president at Warburg Pincus LLC , according to his LinkedIn profile . A spokesperson for Apollo declined to comment. Wong didn’t immediately respond to requests for comment. Apollo’s hire comes as private credit markets in the US reel from a series of high-profile setbacks , with lenders marking down investments. Asia, however, remains more insulated from such concerns given its limited exposure to software sector, more conservative lending practices and reliance on closed-ended vehicles. Asia Private Credit Chases Gains as Stress Mounts for US Peers Wealth Bankers Rush to Calm Growing Private Credit Fears in Asia Ares Plans Its First Local Currency Private Credit Fund in Asia Last year, the Ministry for Trade and Industry and Enterprise Singapore introduced the $1 billion Private Credit Growth Fund to provide non-dilutive, customized financing for local high-growth firms. The initiative is part of the city’s broader push to strengthen its position in the $1.8 trillion private debt space. Singapore has recently drawn several international asset managers, including Australia’s IFM Investors Pty. , which opened an office this month and Sixth Street Partners , which established a presence last year.
Those experiments seek to answer some of the biggest questions in science. These include learning how the Universe began and how it will end, finding the first ever signs of life on planets orbiting distant stars, detecting black holes that ripple space time, mapping newborn planets around distant stars and analysing their atmospheres for signs of life. All of these are experiments in which, histo...
Those experiments seek to answer some of the biggest questions in science. These include learning how the Universe began and how it will end, finding the first ever signs of life on planets orbiting distant stars, detecting black holes that ripple space time, mapping newborn planets around distant stars and analysing their atmospheres for signs of life. All of these are experiments in which, historically, the UK played a leading role. But now, British scientists could be largely locked out of them in the future, if the STFC does not pay its way.
DayOne Data Centers Ltd. is seeking to double the size of an existing loan to as much as $7 billion, according to people familiar with the matter, in what would be the largest borrowing for the sector by any firm in Asia. The deal size would be a leap from the original $3.4 billion-equivalent facility, as the Singapore-based company, once an international affiliate of Chinese data center operator ...
DayOne Data Centers Ltd. is seeking to double the size of an existing loan to as much as $7 billion, according to people familiar with the matter, in what would be the largest borrowing for the sector by any firm in Asia. The deal size would be a leap from the original $3.4 billion-equivalent facility, as the Singapore-based company, once an international affiliate of Chinese data center operator GDS Holdings Ltd. , looks for additional funding to expand its operations in Malaysia. It would also add to the mountain of debt these companies are taking on to power their AI ambitions, even as some investors grow anxious about the potential impact. Talks are ongoing and details of the deal could change, said the people, asking not to be identified discussing private matters. DayOne’s funding plans underscore how the artificial intelligence boom remains a key driver of debt deals in the Asia-Pacific region, fueling a wave of big ticket financings. Blue Owl Capital -owned data center company Stack Infrastructure Inc. , for example, is seeking an about A$3 billion loan ($2.1 billion) to finance a new project in Melbourne. AI-related data center spending could reach $2.9 trillion between 2025 and 2028, with roughly half requiring external financing, which is driving debt issuance, according to Morgan Stanley. CoreWeave Inc. , one of the leading data center operators in the US, plans capital spending of $30 billion to $35 billion this year, and has pushed its long-term borrowings to more than $14 billion as it builds capacity for customers like Microsoft Corp. and Meta Platforms Inc. Lenders are willing to provide billions because revenue is often assured for a decade or longer to investment-grade tenants like Microsoft, Alphabet Inc. ’s Google, or Amazon.com Inc. , providing a steady cash flow to service the debt. Still, the scale of the lending has sparked concerns on Wall Street about whether the industry will be able to deliver sustainable returns despite all the cash pou...
Samsung has been a supplier of high-bandwidth memory chips for AMD's most recent artificial intelligence accelerators for approximately the past year. Both AMD and Samsung Electronics declined to provide comments on the reported plans. The talks are expected to move beyond memory chips and into the area of foundry manufacturing. During the visit, Su is anticipated to meet with senior Samsung chip ...
Samsung has been a supplier of high-bandwidth memory chips for AMD's most recent artificial intelligence accelerators for approximately the past year. Both AMD and Samsung Electronics declined to provide comments on the reported plans. The talks are expected to move beyond memory chips and into the area of foundry manufacturing. During the visit, Su is anticipated to meet with senior Samsung chip executives, including the head of the chip division and the leader of the Foundry Business. Following the site tour, a dinner meeting with Samsung Electronics ' Chairman is also planned. Advanced Micro Devices CEO Lisa Su will visit a Samsung Electronics chip production facility this week, according to a report from Reuters. The visit is scheduled to take place on Wednesday, where Su will tour production lines and hold discussions aimed at broadening the existing collaboration between the two firms. This report provides a comprehensive view of the static converter industry in South Korea, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply. Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between domestic suppliers and international partners. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the static converter landscape in South Korea. Quick navigation Key findings Domestic demand is shaped by both household and industrial usage, with trade flows linking local supply to imports and exports. Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions. Supply depends on input availability and production efficiency, creating a distinct nation...
Nearly 150 retired federal and state judges have filed an amicus brief on Tuesday supporting AI company Anthropic in its lawsuit against the Trump administration for designating it a “supply chain risk,” CNN has learned. The former judges, appointed by both Republicans and Democrats, join a growing list of Anthropic supporters that includes industry organizations and former senior national securit...
Nearly 150 retired federal and state judges have filed an amicus brief on Tuesday supporting AI company Anthropic in its lawsuit against the Trump administration for designating it a “supply chain risk,” CNN has learned. The former judges, appointed by both Republicans and Democrats, join a growing list of Anthropic supporters that includes industry organizations and former senior national security government officials, as well as Microsoft and staffers from competing AI companies. The amicus brief underscores concerns raised in the tech, legal and national security community over the precedent the situation could set regarding government influence over private companies. For Anthropic, the stakes could be significant; the “supply chain risk” label could affect the company’s contracts with the vast ecosystem of private-sector firms that do business with the military. “More fundamentally, as a practical matter, no one is trying to force the Department to contract with Anthropic,” the judges wrote. “Instead, Anthropic is asking only that it not be punished on its way out the door.” The Pentagon “misinterpreted the statute and violated the necessary procedures” when it labeled Anthropic a “supply chain risk,” they also wrote. The Defense Department designated Anthropic a “supply chain risk” earlier this month after negotiations over the use of the company’s AI models in classified systems broke down. The Pentagon wanted to use Claude in “all lawful” cases, but Anthropic refused to back down over two key redlines: AI’s use in autonomous weapons, and AI’s use in mass surveillance of American citizens. The “supply chain risk” label is usually given to companies associated with foreign adversaries and has never been given to an American company in modern times. It means companies with military contracts must ensure that any use of Anthropic’s tools are kept separate from that work. In addition to the ‘supply chain risk’ designation, President Donald Trump ordered all feder...
What Happened? Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER) jumped 5.1% in the afternoon session after the company announced an expansion of its robotaxi services through new and expanded partnerships with NVIDIA and Amazon's autonomous vehicle division, Zoox. The plan detailed the deployment of a fleet of self-driving robotaxis powered by NVIDIA's technology. The rollou...
What Happened? Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER) jumped 5.1% in the afternoon session after the company announced an expansion of its robotaxi services through new and expanded partnerships with NVIDIA and Amazon's autonomous vehicle division, Zoox. The plan detailed the deployment of a fleet of self-driving robotaxis powered by NVIDIA's technology. The rollout was scheduled to begin in Los Angeles and San Francisco in 2027, with a goal to expand to 28 cities worldwide by 2028. Additionally, a new deal with Amazon's Zoox aimed to bring robotaxis to Las Vegas. This strategy allowed Uber to pursue its autonomous vehicle goals without the high cost of developing its own technology, instead serving as a platform for partners. The positive news followed announcements that Uber would also invest half a billion dollars in its Argentina operations over the next three years. The shares closed the day at $77.75, up 4.4% from previous close. Is now the time to buy Uber? Access our full analysis report here, it’s free. What Is The Market Telling Us Uber’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 9 months ago when the stock gained 7.2% on the news that after the company announced it is expanding its autonomous ride-hailing services with Waymo to Atlanta. The move extends the partnership where Uber app users can be matched with a fully autonomous Waymo vehicle, a service already active in Austin. This expansion into a 65-square-mile area of Atlanta signals progress in Uber's strategy to integrate autonomous technology into its platform, a key area for future growth. The news comes as competition in the self-driving space heats up, with Tesla recently launching its own robotaxi servi...