SHORT CUTS1️⃣ China's Moonshot AI raises $2b at $20b valuation China's frontier AI companies are growing in maturity and taking the spotlight. Here's a quick way to understand these players, according to a Chinese AI insider I spoke with: Zhipu and Moonshot AI are like Claude with their coding and enterprise focus. MiniMax specializes in multimodal models, while DeepSeek has been consumer-centric - not worrying about making money until recently. All of them are around three to four months behind the leading Western models, but that's deliberate. They achieve good performance with low cost through distillation, which is the process of training a smaller, more efficient model by mimicking a larger one. 2️⃣ Indonesia detains KoinWorks executives in $35m case The fallout in Indonesia's startup scene - caused by a lack of quality founders - continues. Foreign founders, ironically, may drive the recovery. Kitar, a startup that resells phones, has raised US$10 million from Chinese VCs. It was established by Frank Zhou, an ex-Shopee executive. Perhaps Zhou can do a repeat of J&T Express, a Chinese startup that first took off in Indonesia. 3️⃣ SG's PDG secures $856m for Indonesia data center expansion Indonesia is having a data center boom. A day before this news broke, Jakarta-based DCI signed a US$969 million loan with Bank Central Asia for data center construction. Our reporter, Jofie Yordan, also looked at how investors are pouring money into data centers in Batam, an Indonesian island near Singapore. |