OpenAI has completed a deal allowing employees to sell stakes in the company, according to a person familiar with the matter.

The tender offer values the artificial intelligence start-up at US$86 billion (RM411.08 billion), a price that makes OpenAI one of the most valuable start-ups in the world. Bloomberg previously reported the value and that Thrive Capital, the venture capital firm led by Josh Kushner, would lead the deal.

OpenAI deal said to allow employees to sell shares at US$86b valuation

Following Minister of Economy Rafizi Ramli’s comment that Malaysia was studying Singapore’s Progressive Wage Model (PWM), the government released a white paper last November that outlined a pilot PWM. The PWM as envisioned by Rafizi will coexist with the national minimum wage, which stands at RM1,500 per month, with an exemption for micro firms with fewer than five employees.

My Say: Lessons from Singapore’s experience with the Progressive Wage Model

The government has yet to decide on introducing a single grade of white rice known as the Malaysia Madani white rice.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said any announcement or decision made must be in accordance with the Control of Padi and Rice Act 1994 (Act 522), and be communicated to the Cabinet.

Govt yet to decide on single-grade white rice — minister

The return of foreign funds to the region is expected to provide a fillip to Bursa Malaysia next week, as buying momentum for domestic equities persists on renewed optimism.

Foreign funds expected to boost Bursa in coming week

The ringgit is expected to remain soft next week, with a possible range of around 4.76 to 4.77 against the US dollar, said an analyst.

Ringgit seen remaining soft at 4.76-4.77 against US dollar next week

OpenAI chief executive officer Sam Altman is working to secure US government approval for a massive venture to boost global manufacturing of artificial intelligence (AI) chips, an effort that risks raising national security and antitrust concerns in Washington, according to people familiar with the matter.

OpenAI’s Sam Altman seeking US blessing to raise billions for AI chips — sources

SoftBank Group Corp founder Masayoshi Son is seeking as much as US$100 billion (RM478 billion) to bankroll a chip venture to compete with Nvidia Corp and supply semiconductors essential for artificial intelligence (AI), according to people with knowledge of the matter.

Masayoshi Son seeking to build US$100b AI chip venture, Bloomberg reports

The Biden administration is in talks to confer more than US$10 billion (RM47.80 billion) in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil.

Intel in talks for more than US$10b in Chips Act incentives — sources

Two Federal Reserve (Fed) officials who vote on policy in 2024 indicated an openness to three interest-rate cuts this year should inflation progress continue.

Two Fed voters indicate openness to three rate cuts this year

Reddit Inc has signed a contract allowing a company to train its artificial intelligence (AI) models on the social media platform’s content, according to people familiar with the matter, as it nears the potential launch of its long-awaited initial public offering (IPO).

Reddit said to have signed AI content licensing deal ahead of IPO

KUALA LUMPUR (Feb 16): Here is a brief recap of the corporate announcements that made the news on Friday:

KPJ Healthcare Bhd's net profit rose nearly 16% in the fourth quarter ended Dec 31, 2023 from a year earlier thanks to higher patient numbers and tax writeback. Net profit for the q...

KPJ, BHIC, MRCB, KNM, SNS Network, ICT Zone Asia and MyEG

One of the smaller brokerages in a highly competitive stockbroking industry, the boardroom and shareholding changes in Apex Equity Holdings Bhd in the last five years have grossly overshadowed its history, where it displayed tenacity to remain in business even in the worst of times.

Apex Equity addresses lingering questions

The return&nbsp;of foreign funds to&nbsp;the region is expected to provide a fillip to Bursa Malaysia next week, as buying momentum for domestic equities persists on renewed optimism.

Next&nbsp;week’s earnings report from chipmaker Nvidia could prove a gut check for one of the market’s hottest names, and for the artificial intelligence (AI) fever that has&nbsp;helped power&nbsp;gains for US&nbsp;stocks in recent months.

High-flying Nvidia's earnings could test US stock market’s AI dreams

SoftBank Group Corp&nbsp;founder Masayoshi Son is seeking as much as US$100 billion (RM478&nbsp;billion) to bankroll a chip venture to compete with Nvidia Corp&nbsp;and supply semiconductors essential for artificial intelligence (AI), according to people with knowledge of the matter.

The Social Security Organisation (Socso) made benefit payments of up to RM5.73 bil to Insured Persons (IPs) and their dependents last year, said Human Resources Minister Steven Sim Chee Keong.

He said that the agency made similar payments of RM5.1 billion in 2022 and Socso’s overall financial performance in 2023 was the best since Socso was established in 1971.

Socso paid RM5.73 billion in benefits last year — Sim

US&nbsp;Treasury yields rose and the dollar edged up against the yen on Friday after data showed US producer prices increased more than expected in January, adding to the view that any interest rate cuts by the Federal Reserve (Fed) are not imminent.

Yields, dollar rise after stronger-than-expected US PPI data

The Madani government will add 186 new Digital Economic Centres (PEDi), bringing the total to 1,097&nbsp; nationwide by the end of this year, Prime Minister Datuk Seri Anwar Ibrahim said.

He said there are currently 911 PEDi, and the effort to add more such centres, especially in areas often overlooked, is the government's initiative to address the digital and income gap, while adding that digital transformation is a crucial agenda in realising the vision of the Madani Economic Framework.

Govt to set up 186 more PEDi to bridge digital divide — PM

Goldman Sachs CEO David Solomon was awarded US$31 million in compensation for 2023, up 24% from US$25 million in 2022, the company said in a filing on Friday.

Solomon's pay comprises a US$2 million base salary, unchanged from the previous year, and a bonus of US$8.7 million in cash and US$20.3 million in performance-linked stock, the bank said.

Goldman Sachs CEO Solomon gets 24% pay bump to US$31 million

Nintendo Co&nbsp;is advising game publishers that its next-generation console will be delayed until the first quarter of 2025, according to people with knowledge of the matter.

Nintendo telling game publishers Switch 2 will be delayed, Bloomberg reports

Two Federal Reserve (Fed) officials who vote on policy in 2024 indicated an openness to three interest-rate cuts this year should inflation progress continue.

Seafarers have the right to refuse to sail on ships passing through the Red Sea in a new industry agreement as the situation escalates and further vessels are attacked by Yemen's Iran-aligned Houthis, a labor union and industry groups said on Friday.

Seafarers can refuse to sail through Red Sea as Houthis step up attacks — industry

The Biden administration is in talks to confer more than US$10 billion (RM47.80 billion) in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil.

OpenAI chief executive officer Sam Altman is working to secure US government approval for a massive venture to boost global manufacturing of artificial intelligence (AI) chips, an effort that risks raising national security and antitrust concerns in Washington, according to people familiar with the matter.

The ringgit is expected to remain soft next week, with a possible range of around 4.76 to 4.77 against the US dollar, said an analyst.&nbsp;

Reddit Inc&nbsp;has signed a contract allowing a company to train its artificial intelligence (AI) models on the social media platform’s content, according to people familiar with the matter, as it nears the potential launch of its long-awaited initial public offering (IPO).

The government has yet to decide on&nbsp;introducing&nbsp;a single&nbsp;grade of white rice known as the Malaysia Madani white rice.

Agriculture and Food Security Minister&nbsp;Datuk Seri Mohamad Sabu said any announcement or decision made must be in accordance with&nbsp;the Control of Padi&nbsp;and Rice Act 1994 (Act 522), and be communicated to&nbsp;the Cabinet.

The Edge Malaysia Property Management Virtual Talk 2024 : The realities of maintaining and managing strata properties

“A true hero is not just defined by their strength, but by their ability to inspire and lead others.” — Mohandas Karamchand ‘Mahatma’ Gandhi (1869-1948), Speech at Kingsley Hall (1931)

Everyday Matters: Just holding out for a hero

In the acclaimed local movie Abang Adik currently showing in cinemas, the elder brother (abang) who is deaf and mute is short-changed, being paid a lower sum than promised for a job done. An undocumented person with disabilities, it is difficult for him to voice his dissatisfaction over this treatment.

My Say: Deaf need help to break communication barrier for healthcare access

Navigating the complexities of strata ownership

Since returning from this year’s World Economic Forum meeting in Davos, I have been asked repeatedly for my biggest takeaways. Among the most widely discussed issues this year was artificial intelligence — especially generative AI (GenAI). With the recent adoption of large language models (like the one powering ChatGPT), there is much hope — and hype — about what AI could do for productivity and economic growth in the future.

After the Storm: Artificial intelligence vs human stupidity

UMediC Group Bhd, an ACE Market-listed medical device distributor and manufacturer, is controlled by UWC Bhd co-founders Datuk Ng Chai Eng and Datuk Lau Chee Kheong.

Despite being a mid-cap company with a market capitalisation of about RM230 million, UMediC has a number of institutional...

Cover Story: UMediC devises path to steady growth

AT the height of the Covid-19 pandemic, Penang-based integrated engineering solutions provider UWC Bhd stood out as one of the most valuable technology firms on Bursa Malaysia, boasting a market capitalisation of almost RM8 billion.

In 2020 and 2021, the global chip shortage had propell...

Cover Story: UWC sets sights on next chip up cycle

For over two decades, Malaysia has been stuck in the middle-income bracket, despite aspirations to ascend to the coveted status of a high-income economy. With the world rapidly changing, breaking free from this stagnation becomes increasingly important.

ECONtemplation: Punching above our weight is necessary for economic breakthrough

OVER 10 years ago, in mid-2013, I wrote a fairly critical column about ­Microsoft Inc for The Edge. At the time, the software giant was in the process of acquiring Finnish cellular phone maker Nokia Corp for US$7.2 billion. It seemed comical that a fading software firm was betting that its fortun...

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