SK Hynix, Samsung Electronics retreat as chip sell-off weighs on Asian stocks - The Business Times

• Major Chinese A.I. companies are developing models that are increasingly competitive on a global scale, yet they are struggling to establish viable monetization strategies. • Despite technical advancements, these firms lack a clear path to profitability, facing challenges in converting high-performance A.I. tools into sustainable revenue streams.

• HSBC is launching its first global AI centre of excellence in Singapore, which is scheduled to open later in 2026. • The bank plans to hire over 200 specialized staff in the fields of artificial intelligence and wealth management to form the center's core team.

• Singapore is implementing its National AI Strategy 2.0 (NAIS 2.0) to establish the city-state as a global AI hub despite lacking domestic tech giants or semiconductor fabrication plants. • Key technical initiatives include the development of SEA-LION (South-East Asia Large Language Models) and MERaLiON, a multimodal AI project focused on advanced language processing.

• Global venture capital firms, including U.S.-based Sazze Partners and Singapore's Axiam Asia, are significantly increasing investments in South Korea's deep tech sectors, specifically AI, robotics, and semiconductors. • Key funding rounds include AI company Upstage securing 180 billion won (~$122.7 million) in a Series C round in April and video AI developer Twelve Labs completing a 150 billion won (~$102.2 million) Series B round this month.

• HSBC has selected Singapore as the location for its new global AI centre of excellence to develop advanced artificial intelligence capabilities. • The bank plans to begin developing these AI tools in the second half of this year, with the intention of rolling them out across its global operations.

• Microsoft has introduced "Project Perception," a new initiative aimed at redesigning the "Cyber Stack" to address the evolving challenges of AI-driven security. • The project responds to a shifting landscape where autonomous systems can now reason and adapt, while the cost for attackers to launch offenses is decreasing.

• Nvidia has formed a strategic coalition with other major technology firms, including Microsoft and SpaceX, to develop open-source safety and cybersecurity tools for artificial intelligence. • The alliance aims to create standardized frameworks that allow AI systems to be freely used and audited by the broader developer community.

• AegisAI has secured $36 million in Series A funding led by Battery Ventures to develop AI agents capable of detecting and blocking sophisticated spear-phishing attacks. • The investment addresses the growing threat of cybercriminals utilizing Large Language Models (LLMs) to automate and scale malicious activities.

• Stripe is reportedly in talks to acquire OpenRouter, a company that serves as an intermediary routing layer between AI model providers and developers. • OpenRouter optimizes AI requests based on cost, latency, and capability, and was previously valued at $1.3 billion during a May 2026 funding round.

• Software security vulnerabilities discovered in 2026 are on pace to roughly double the total reported in 2025, according to a Bloomberg report. • The U.S. National Vulnerabilities Database had already recorded over 45,000 flaws by late July, nearly matching the previous year's full total.

• Big Tech companies are funding their aggressive investments in artificial intelligence by implementing significant payroll cuts and layoffs of skilled employees. • This strategy, highlighted in recent reporting by Fortune's Eva Roytburg, involves trading human capital for AI infrastructure and development.