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A Singapore court has granted bail to three men accused of defrauding suppliers in a $390 million Nvidia chip fraud case. The suspects, including two Singaporeans and one Chinese national, face charges of smuggling and providing false information about server locations. Bail amounts were set at S$800,000 and S$600,000 for the Singaporeans, while the Chinese national's bail is S$1 million, contingent on electronic monitoring.
A Singapore court has granted bail to three men accused of defrauding suppliers of server computers containing Nvidia chips, with bail amounts set at S$800,000 and S$600,000 for the two Singaporeans, and S$1 million for the Chinese national, who must wear an electronic monitoring device. The suspects allegedly smuggled Nvidia chips and misled Dell and Super Micro about the servers' intended destinations, involving transactions worth approximately US$390 million.
Salesforce is set to invest $1 billion in Singapore to enhance the adoption of artificial intelligence. This significant financial commitment underscores the company's focus on expanding its AI capabilities in the region, aiming to drive innovation and growth.
Salesforce has announced a $1 billion investment in Singapore by 2030 to boost the adoption of its Agentforce platform and support local enterprises and workforce development. The initiative will enhance AI research capabilities and expand Hyperforce services to meet local data residency regulations. Additionally, Salesforce plans to upgrade its Singapore office with demonstration areas and training hubs focused on AI workforce development, aligning with Singapore’s National AI Strategy 2.0.
Chocolate Finance and Allfunds have assured customers that their investment funds are secure, with withdrawals proceeding as normal. Funds are held in segregated accounts in compliance with Singapore regulations, and Allfunds acts as the licensed custodian to safeguard these investments. Despite increased withdrawal activity, both companies emphasize their commitment to operational efficiency and transparency, with withdrawals expected to be settled within three to six business days.
The inaugural episode of the 60/40 Podcast from Tech in Asia features co-hosts Prashanth Ranganathan, Peter Bithos, and Maria Li, along with special guest Raghav Kapoor, CEO of Smartkarma. They discuss key topics including the implications of Trump’s tariffs in China, TSMC's expansion into the US, and the return of Jack Ma to China's tech scene, while also examining market trends in India and developments in Singapore’s SGX. Feedback and topic suggestions can be sent to 6040podcast@techinasia.com.
The inaugural episode of the 60/40 Podcast from Tech in Asia features co-hosts Prashanth Ranganathan, Peter Bithos, and Maria Li, alongside special guest Raghav Kapoor, CEO of Smartkarma. They delve into key topics such as the implications of Trump’s tariffs in China, TSMC's expansion in the US, and the resurgence of Jack Ma in China's tech landscape. The podcast aims to provide insights into the intersection of geopolitics and business in Asia.
FlyOro, based in Singapore, is collaborating with airports to implement modular sustainable aviation fuel (SAF) blending systems, enabling producers to offer both standard and customized SAF without disrupting existing operations. Despite its potential to reduce emissions, SAF faces challenges such as high costs—2x to 4x more than conventional jet fuel—and varying regulatory support across regions, with Singapore's SAF mandate not taking effect until 2026. Startups in this sector are focusing on efficient scaling and proving SAF's viability in a traditionally slow-moving industry.
Chocolate Finance has temporarily halted instant withdrawals due to an unprecedented surge in demand, with processing times now extending to 3-10 days. The Singapore-based firm, founded in July and managing nearly S$1 billion in assets, emphasizes its focus on investment opportunities for local investors.
Russell Cohen, Grab's group managing director of operations, is leaving the company after nearly eight years to become CEO of Pexa, a digital property settlement platform in Melbourne. Cohen joined Grab in 2017, contributing to its evolution into a multi-vertical super app, and expressed gratitude for the support from the leadership and team.
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Singapore court grants bail in Nvidia chip fraud case involving 390 million dollars
01:50 14.03.2025
Singapore court grants bail in Nvidia chip fraud case involving 390 million dollars
01:50 14.03.2025
Salesforce announces one billion dollar investment to enhance AI adoption in Singapore
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Salesforce to invest one billion dollars in Singapore by 2030
04:44 12.03.2025
Chocolate Finance and Allfunds assure customers of fund security and withdrawals
04:27 12.03.2025
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