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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-11-NYNJ-Select-USA-Indonesia.jpg" alt="" />
<figcaption class="image-caption">Jason P. Rebholz, the Acting Deputy Chief of Mission of the U.S. Embassy in Indonesia (Photo source: U.S. Embassy & Consulates in Indonesia)</figcaption>
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<p>The delegation consists of representatives from private companies and regional state-owned companies, as well as government officials from across the country.</p>
<p>“This year, as we celebrate 75 years of diplomatic relations between our two countries, we also mark the milestone of 80 future investors from across sectors and regions in Indonesia joining the SelectUSA Investment Summit 2024. This surpasses previous Indonesian participation since the establishment of the Summit in 2014,” said <strong>Acting Deputy Chief of Mission in Indonesia Jason P. Rebholz.</strong></p>
<p>Rebholz also noted that the diverse representation underscores the increasing interest and confidence of Indonesian investors in exploring opportunities in the United States.</p>
<p>SelectUSA is a program led by the U.S. Department of Commerce that focuses on facilitating job-creating investment opportunities in the United States and raising awareness of the critical role that international partnerships play in creating broad-based economic prosperity.</p>
<p>The annual summit has become a crucial platform for encouraging direct investment into the United States, enhancing economic engagement and bolstering people-to-people connections. It has gathered thousands of investors from around the globe, providing them with valuable insights, resources, and networking opportunities with economic development officials from across the United States.</p>
<p>Participants also get access to investment incentives, tax benefits, site selection options, and industry clusters tailored to their specific interests and objectives.</p>
<p>The SelectUSA Investment Summit also fosters international partnerships that benefit both the U.S. economy and Indonesian investors, such as the U.S.-Indonesia Comprehensive Strategic Partnership.</p>',
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<p>“President Biden’s Investing in America agenda is about ensuring that all communities have the resources and opportunities they need to thrive in today’s economy. America’s workers are the source of our country’s innovation and competitiveness, and this EDA grant will support workforce training for in-demand jobs in transportation, logistics, and more,” Raimondo said.</p>
<p>Meanwhile, <strong>Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo</strong> added: “The Economic Development Administration works closely with local communities to support place-based economic growth. This investment in the Danville Regional Airport will support the creation of critical jobs and the development of a resilient regional economy.”</p>
<p>“It is critical that we maintain the facilities that drive economic growth in the Commonwealth.</p>
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'content' => '<p>The <strong>Arlington Economic Development Corporation </strong>has launched a newly designed website, ArlingtonTxEDC.com, which features a refreshed logo and easier access to information on the Texan city’s economic climate, including interactive visualized data, workforce insights, and available investment incentives, according to a statement from the City of Arlington.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-11-EAST-Arlington-EDC.jpg" alt="" />
<figcaption class="image-caption">Arlington EDC Executive Director Marty Wieder (Photo source: Arlington EDC)</figcaption>
</figure>
<p>“As a funded EDC, we're still so young. So, the data, words and photos we include are quite critical for the story we are sharing. This renewal and relaunch should give a clear picture of where Arlington's been, where we are now, and where we're headed, so others can see the value of choosing to come along with us,” said <strong>Arlington EDC executive director Marty Wieder.</strong></p>
<p>The new Arlington EDC website will also provide users with news about the latest projects, local business spotlights, small business resources, and other economic happenings in the city, which will also be shared through its digital newsletter.</p>
<p>Named by financial website WalletHub in 2024 as one of the best large cities to start a business in the United States, Arlington offers investors access to major airports with non-stop flights to over 200 local and international destinations, generous incentives, world-class entertainment facilities, leading universities, and access to a thriving metropolis of over 6.5 million people.</p>',
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'title' => 'Apple Vision Pro debuts in Singapore, Japan, China, and HK',
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'description' => 'Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in Asia, Vision Pro was limited to the United States, where the product went on sale in February.',
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'content' => '<p>Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in Asia, Vision Pro was limited to the United States, where the product went on sale in February.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Apple-Vision-Pro.jpg" alt="" />
<figcaption class="image-caption">Apple staff allow customers in Tokyo to try out Vision Pro headsets. (Photo source: Apple)</figcaption>
</figure>
<p>Expansion into the Asian market appears to be the way <strong>Apple</strong> chose to cement the Vision Pro's position as the default virtual reality/augmented reality headset and broaden its customer base.</p>
<p>According to Forbes contributor Anshel Sag, Apple needs this expansion to succeed because of a slump in U.S. sales, where demand for the $3,499 headset dropped after the initial rush. In Japan, the most affordable Vision Pro SKU with 256 GB of built-in storage currently sells for over $3,700 (599,800 Japanese yen).</p>
<p>Apple is looking into other markets following the Asian launch, although the tech giant confirmed that the Vision Pro will be available in the United Kingdom, Canada, Australia, France, and Germany from July 12.</p>
<p>Analysts will be closely monitoring if these overseas launches will generate new interest and hype for Apple’s newest product.</p>
<p>Capable of seamlessly blending digital content with the physical world to deliver powerful spatial experiences, Vision Pro will also be Apple’s first 3D camera. With the Vision Pro, users will be able to record spatial photos and videos for future playback.</p>',
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'title' => 'IBM to develop super quantum computers in Japan',
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'description' => 'American technology giant IBM has partnered with the National Institute of Advanced Industrial Science and Technology (AIST) in Japan to develop the world's most advanced quantum computers, which are expected to be operational by 2029. This marks IBM's first large-scale collaboration with a foreign institution in quantum computing. ',
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'content' => '<p>American technology giant <strong>IBM</strong> has partnered with the <strong>National Institute of Advanced Industrial Science and Technology (AIST) </strong>in Japan to develop the world’s most advanced quantum computers, which are expected to be operational by 2029. This marks IBM's first large-scale collaboration with a foreign institution in quantum computing.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-IBM-Japan.jpg" alt="" />
<figcaption class="image-caption">Senior officers from IBM and AIST during the signing of the memorandum of agreement in May (Photo source: HPC Wire)</figcaption>
</figure>
<p>Both parties formalized their partnership last month by signing a memorandum of understanding (MoU), which states their commitment to accelerate the growth of the quantum industry in Japan and foster an ecosystem to maximize business impact.</p>
<p>This next-generation quantum computer will have 10,000 quantum bits or ‘qubits,’ or 75 times more than the current generation of quantum computers, which have 133. Existing quantum computers often make errors and are used alongside supercomputers to achieve accurate results. A qubit, the basic unit of quantum information, gauges the performance of a quantum computer.</p>
<p>IBM and AIST will address the issue of accuracy by developing a computer that can calculate high-level combinations independently. They will also focus on developing semiconductors and superconducting integrated circuits capable of withstanding extreme temperatures, crucial for quantum computers that operate in near absolute zero environments.</p>
<p>This partnership is a significant step towards diversifying the commercial capabilities of quantum computers. Scientists suggest that hardware supporting 20,000 to 30,000 qubits is necessary for transformative research advancements.</p>
<p>While IBM plans to start selling 1000-qubit computers by 2025, AIST will train Japanese companies to adopt these systems for research in industries, like pharmaceuticals. The collaboration may also involve Japanese manufacturers to leverage their mass production capabilities.</p>',
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'description' => 'Japan's Prime Minister Fumio Kishida highlighted the growing economic ties between his country and North Carolina, which he visited during a recent official visit to the United States. The country has overtaken Germany as the state's largest source of foreign direct investment, according to the North Carolina Commerce Department.',
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'content' => '<p><strong>Japan’s Prime Minister Fumio Kishida </strong>highlighted the growing economic ties between his country and North Carolina, which he visited during a recent official visit to the United States. The country has overtaken Germany as the state’s largest source of foreign direct investment, according to the North Carolina Commerce Department.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Kishida-in-NC.jpg" alt="" />
<figcaption class="image-caption">Japanese Prime Minister Fumio Kishida offers a toast during a luncheon at the State Department in Washington, D.C. (Photo source: Roberto Schmidt/AFP)</figcaption>
</figure>
<p>During his trip, Kishida visited sites that exemplified the strong connection between Japan and North Carolina, like HondaJet's facility in Greensboro and Toyota’s future battery plant in Randolph County, which is expected to employ 5,000 people when it opens.</p>
<p>The prime minister’s visit coincided with Fujifilm Diosynth’s announcement of a $1.2 billion expansion in the state. Other Japanese companies in North Carolina include Morinaga, Astellas Gene Therapies, and Sumitomo Pharma, which collectively employ more than 35,000 people.</p>
<p><strong>Gov. Roy Cooper</strong>, who has headed trade missions to Tokyo in 2017 and 2023, hosted a lunch for Kishida in the Executive Mansion in the state capital Raleigh.</p>
<p>“North Carolina is an ideal location because of the Research Triangle, its logistical networks, and, more than that, the people. Japanese and North Carolina people are very similar in their resiliency and high work ethic,” said Masashi Mizobuchi, assistant press secretary of Japan's Ministry of Foreign Affairs.</p>
<p>Acknowledging the importance of the academic and cultural partnership between North Carolina and Japan, Kishida went to NC State’s Centennial Campus, the first visit by a foreign head of government since 1954, and dropped by Nagoya University’s Global Campus, a symbol of a long-standing partnership in student exchanges and joint research for nearly 40 years.</p>
<p>He also met with students from other local universities, like the University of North Carolina at Chapel Hill and Duke University.</p>
<p>In October, North Carolina will host the next Southeast US-Japan (SEUS-Japan) conference, which has served as a forum for deeper dialogue and closer collaboration between Japan and states in the southeastern United States.</p>',
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'title' => 'Maestro Technologies: Companies must be adaptable and transformative',
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'description' => 'To understand why digital transformation is now a critical component of success for businesses everywhere, GMI POST sat down with Maestro Technologies Inc. Managing Director Kamal Bathla.',
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'content' => '<p>In today's fast-paced digital era, keeping up with trends is not a strategy but a necessity. Forbes reports that moving into the digital space and focusing on customer experience can raise customer satisfaction by 20-30% and boost revenues by 20-50%.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-NYNJ-Maestro-Tech.jpg" alt="" />
<figcaption class="image-caption">Kamal Bathla (right) with Paul Ceppi, former Banking and Community Development Director of the New Jersey Economic Development Authority, during the opening of Maestro Technologies' headquarters in Trenton, New Jersey in 2017. (Photo source: New Jersey Economic Development Authority)</figcaption>
</figure>
<p>To understand why digital transformation is now a critical component of success for businesses everywhere, GMI POST sat down with <strong>Maestro Technologies Inc. Managing Director Kamal Bathla.<br /></strong></p>
<p>Founded in 1989, Maestro Technologies is an IT solutions provider that excels in automation, system integration, consulting services, and e-commerce solutions. Its team comprises seasoned professionals with a deep understanding of the ever-evolving IT landscape.</p>
<p>“If you look at every single market, you realize that companies have to be adaptable and transformative. We can't build or rebuild an ISP, but what we can do is stay ahead of the game, identify the trend, and provide help to companies who are moving that route," <strong>Bathla said.</strong></p>
<p>Maestro is not just keeping up with current trends but also setting the pace in the IT industry by focusing on cutting-edge concepts such as AI.</p>
<p>“With new concepts such as AI, cloud migration, cloud computing, and cloud integrations, all these come into play as they allow us to expand our knowledge of the new tech. Many don't have enough time to keep up with the changes, and what we do is see how the clients can benefit from the research we do,” Bathla said.</p>
<p>By staying ahead of technological advancements and adapting to market needs, Maestro is helping businesses thrive in the age of e-commerce.</p>',
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'id' => '545739',
'title' => 'Codingate: The guiding hand of Cambodian SMEs',
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'description' => 'The COVID pandemic pushed Cambodian businesses to see digital transformation as a need rather than a luxury. SMEs, in particular, faced the biggest challenges in making the transition because of additional costs, the rapid pace of innovation, and resistance to change. They needed a guide to navigate the complexities of digital transformation. ',
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'content' => '<p>The COVID pandemic pushed Cambodian businesses to see digital transformation as a need rather than a luxury. SMEs, in particular, faced the biggest challenges in making the transition because of additional costs, the rapid pace of innovation, and resistance to change. They needed a guide to navigate the complexities of digital transformation.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-CAMB-Codingate.jpg" alt="" />
<figcaption class="image-caption">Codingate Chairman and Co-Founder Sopheakmonkol Sok (Photo source: Codingate)</figcaption>
</figure>
<p>Established in 2013, <strong>Codingate </strong>became a household name in Cambodia’s IT sector, having delivered more than 500 projects and winning numerous awards in the process by providing innovative digital solutions to clients, including custom software that uses AI. Its AI-powered technology has helped SMEs streamline their operations, boost efficiency, and lower costs.</p>
<p>“We start the digitalization process by introducing advanced technology into one aspect of the business and then gradually build a unified system that centralizes management. Our clients appreciate this approach as it allows for a smooth, gradual digital transformation,” <strong>Codingate Chairman and co-founder Sopheakmonkol Sok</strong> told GMI POST.</p>
<p>Instead of imposing its solutions on SMEs, Condingate has helped young entrepreneurs by developing software and processes that fit into the core functions of their businesses.</p>
<p>“Digital transformation is not just about the strength of the technology or the expertise of the service provider. It’s also about how well it supports the governance of the business. We strive to deliver transformations that will benefit our clients for decades, rooted in their governance values,” Sok stressed.</p>
<p>Looking ahead, Codingate is committed to introducing the latest solutions that will support the growth of SMEs in the country.</p>
<p>Codingate developed <strong>Gatemaster AI</strong>, a proprietary business advisory technology designed to help businesses analyze vast amounts of data and detect key market trends, customer behavior, and industry benchmarks, thus providing scalable and cost-effective solutions.</p>
<p>“Gatemaster leverages the power of generative AI to craft tailored business solutions for our clients based on comprehensive market trend analysis,” Sok said.</p>
<p>Another game-changing solution in the pipeline is <strong>Gatecommerce Digital Solution</strong>, a suite of proprietary tools and features aimed at revolutionizing SMEs’ e-commerce operations by digitalizing the entire purchasing process for end-users.</p>
<p>“Our latest e-commerce solution is user-friendly even for companies with minimal experience. We see it as a powerful tool to further digitalize Cambodia’s economy,” Sok said.</p>',
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'title' => 'Digital Assets 101: An introduction for the cautious digital investor',
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'description' => 'How would you like to lower your risk when investing in digital assets? But how safe are they? Are NFTs the only options? Do central banks vouch for them? It's always helpful to do some research before making your hard-earned money work for you.',
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'content' => '<p>How would you like to lower your risk when investing in digital assets?</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-SG-Alta-Group.jpg" alt="" />
<figcaption class="image-caption">Alta Group Co-Founder and Chief Commercial Officer Benjamin Twoon (Photo source: Alta Exchange)</figcaption>
</figure>
<p>The Internet has democratized knowledge and many processes. Until a few decades ago, only a select few had access to resources about investing. Today, anyone signed up to a banking or telecommunications platform receives marketing campaigns for investing online.</p>
<p>But how safe it is? Are NFTs the only options? Do central banks vouch for them? It’s always helpful to do some research before making your hard-earned money work for you.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Let’s begin with some basic definitions. </strong></span><br /><br /></p>
<p>Digital assets originally applied to media formats stored in a digital environment like documents, pictures and videos. Now, Nasdaq stock market explains that with the emergence of blockchain technology, the term “digital assets” has expanded to include asset-backed tokens, tokenized real estate, cryptocurrencies, and non-fungible tokens (NFT).</p>
<p>Tangible assets, like commodities and real estate, are now being tokenized and have created new opportunities for the digital marketplace.<br /><br /></p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>How many people are investing in digital assets? </strong></span><br /><br /></p>
<p>As of 2023, the average daily number of digital asset investors and traders was at 5.9 million. The global value of digital assets is at $1.5 trillion with an expected 33% year-over-year growth rate. Suffice to say, the rapid growth of digital assets has the potential to substantially impact the investment landscape.</p>
<p> </p>
<p><span style="font-size: 18pt;"><strong><span style="font-family: helvetica;">Why are digital assets becoming more popular among investors?</span> </strong></span></p>
<p> </p>
<p>According to a survey of 774 institutional investors in the United States and Europe conducted by U.S.-based fintech company Kubera, nearly 80% of respondents said they found digital assets “appealing” for various reasons.</p>
<p>The top three reasons were as follows: They lacked correlation with other assets” (36%). They were interesting and innovative (34%). They had a high-potential upside (33%).</p>
<p>To find out more, GMI POST spoke with<strong> Alta Group Co-Founder and Chief Commercial Officer Benjamin Twoon,</strong> who believed there was an upward trend when it came to the popularity of investing in digital and alternative assets.</p>
<p>Alta, formerly known as Fundnel, is Southeast Asia’s largest digital marketplace for alternative investments and was recently recognized as a Technology Pioneer by the World Economic Forum.</p>
<p>Asked about the safety of investing in digital products, Twoon said, “Alta Exchange is accredited by the Monetary Authority of Singapore (MAS). We deal in security tokens that are regulated by the central bank. It’s credible and secure.”</p>
<p>For more information about digital and alternative assets, visit <a href="https://alta.exchange/alta-exchange" target="_blank" rel="noopener">Alta Exchange</a> and start your way to investing in secure digital assets.</p>',
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'title' => 'Kyowa Kirin pumps $530 million into North Carolina's pharmaceutical hub',
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'description' => 'Japanese pharmaceutical company Kyowa Kirin announced plans to invest up to $530 million to build its first North American manufacturing facility in Lee County, North Carolina. The announcement follows the company's earlier decision to invest $200 million in a plant in Sanford, which is expected to create over 102 jobs in the region. ',
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'content' => '<p>Japanese pharmaceutical company <strong>Kyowa Kirin</strong> announced plans to invest up to $530 million to build its first North American manufacturing facility in Lee County, North Carolina. The announcement follows the company’s earlier decision to invest $200 million in a plant in Sanford, which is expected to create over 102 jobs in the region.</p>
<figure class="image-container floated-right" style="float: right;"><strong><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Kyowa-Kirin.jpg" alt="" /></strong></figure>
<figure class="image-container floated-right" style="float: right;">
<figcaption class="image-caption">Sanford Area Growth Alliance CEO Jimmy Randolph (Photo source: Sanford Area Growth Alliance)</figcaption>
</figure>
<p><strong>Becky Levine, Director of Community Engagement and Public Affairs in Kyowa Kirin North America Manufacturing,</strong> said the $530 million investment figure was a conservative estimate and the company was confident about the potential for further investment.</p>
<p>The additional investment is anticipated to boost employment opportunities in the region and strengthen Lee County’s efforts to become a pharmaceutical manufacturing hub in the region.</p>
<p><strong> </strong><strong>Sanford Area Growth Alliance</strong> <strong>Chief Executive Jimmy Randolph</strong> said they were “continuing to see a significant amount of interest from various life sciences projects here in Lee County.”</p>
<p>Meanwhile, <strong>Kyowa Kirin North America</strong> <strong>Executive Vice President Paul Testa </strong>highlighted the ample supply of specialized manpower and resources within the Sanford and the Research Triangle region.</p>
<p>“The plentiful supply of resources in Sanford and Research Triangle region adds to the excitement of collaborating with area colleges, universities, businesses, and civic leaders to ensure that our plans align with Sanford’s vision for growth,” he said.</p>
<p>Kyowa Kirin will break ground on the new facility in the second half of the year and hopes to start operations by 2027. The company also anticipates future expansion and is eyeing the 75-acre campus at Helix Innovation Park at The Backyard.</p>
<p>North Carolina has supported Kyowa Kirin’s investment by providing $10 million in performance-based state and local incentives for 12 years. North Carolina’s Department of Commerce projects that Kyowa Kirin’s investment will boost the region’s economy by $1.05 billion and significantly increase average local wages.</p>
<p>With this investment, Kyowa Kirin joins other esteemed pharmaceutical companies, including Astellas and Pfizer, in establishing a presence in Lee County.</p>',
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'description' => 'Japan's state-backed research consortium Leading-edge Semiconductor Technology Center (LSTC) and Japanese chipmaker Rapidus will send 200 engineers to the United States later this year to train at startup Tenstorrent, which makes chips for artificial intelligence, according to a report by Nikkei Asia.',
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'content' => '<p>Japan’s state-backed research consortium <strong>Leading-edge Semiconductor Technology Center (LSTC)</strong> and Japanese chipmaker <strong>Rapidus</strong> will send 200 engineers to the United States later this year to train at startup <strong>Tenstorrent</strong>, which makes chips for artificial intelligence, according to a report by Nikkei Asia.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Testorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent's RISC-V Products Chief Architect Wei-Han Lien (Photo source: Tenstorrent)</figcaption>
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<p>Candidates for the training program will be mainly graduate students or chip designers from the private sector aged between 30 and 49. After their training, the candidates are expected to return to Japan to work as engineers in the telecommunications, autos, semiconductor industries or at research institutions.</p>
<p>Japan’s Ministry of Economy, Trade and Industry has said it will extend $6.4 million in subsidies to support the project, particularly for pre-departure training and living expenses of the trainees while overseas.</p>
<p>LSTC is a research group formed by Rapidus and the government in 2022. Members include the University of Tokyo, as well as other national universities and research institutes.</p>
<p>Under their partnership, Rapidus and Tenstorrent are seeking to develop specialized AI chips with lower power consumption than the graphics processing units made by U.S.-based Nvidia, the AI sector's current mainstay.</p>
<p>“The joint effort by Tenstorrent and LSTC to create a chiplet-based edge AI accelerator represents a groundbreaking venture into the first cross-organizational chiplet development in semiconductor industry,” said <strong>Wei-Han Lien</strong>, <strong>Chief Architect of Tenstorrent’s RISC-V products.</strong></p>
<p>“The edge AI accelerator will incorporate LSTC’s AI chiplet along with Tenstorrent's RISC-V and peripheral chiplet technology. This pioneering strategy harnesses the collective capabilities of both organizations to use the adaptable and efficient nature of chiplet technology to meet the increasing needs of AI applications at the edge,” Lien added.</p>',
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'content' => '<p>Japanese defense and aerospace startups are capturing the attention of U.S. venture capital investors, filling a gap left by a less-developed domestic funding landscape. This growing interest aligns with Japan's recent push to bolster its defense capabilities, leading to increased foreign investment in the sector.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Defense-Startups.jpg" alt="" />
<figcaption class="image-caption">Astroscale launched the ADRAS-J mission, the world's first debris inspection spacecraft, in February 2024. (Photo source: Astroscale)</figcaption>
</figure>
<p>"Businesses overseas are more aware than those at home that an increased budget will expand the defense industry," said Japan’s Ministry of Defense's Acquisition, Technology, and Logistics Agency in a press statement. This heightened awareness among U.S. investors has led to a surge in funding for innovative Japanese startups, particularly those involved in cutting-edge aerospace and defense technologies.</p>
<p>One standout example is <strong>Astroscale</strong>, a Tokyo-based company specializing in space debris removal and satellite refueling. The firm made a notable debut on the Tokyo Stock Exchange's Growth market, reflecting the strong confidence in its prospects.</p>
<p>“Astroscale's mission to ensure that sustainable space operations has resonated with investors globally,” said <strong>Astroscale Vice President Shunji Izutsu, </strong>a former chief of staff of Japan’s Air Self-Defense Force.</p>
<p>To date, Astroscale Holdings is raising $153 million via an initial public offering (IPO) at Tokyo. The Japanese space tech startup said it intended to use the IPO proceeds primarily towards project development and research and development.</p>
<p>Astroscale is the first space debris removal company to conduct an IPO and the second space industry global IPO in Japan, following ispace Inc.’s global IPO in 2023.</p>
<p>Similarly, <strong>Synspective</strong>, another Tokyo-based startup, has gained attention for its work with synthetic aperture radars, which can capture images in all weather conditions, day or night. The company has been involved in significant government projects, providing valuable data and insights to the Ministry of Defense.</p>
<p>This month, Synspective announced that it secured $44.1 million in a Series C funding round and said it will use the money to accelerate its global business expansion.</p>
<p>Yuki Takemori, head of the Development Bank of Japan’s Innovation Promotion office, said: “We are now more open to projects we might have previously avoided.”</p>
<p>The trend is part of a broader effort by the Japanese government to enhance the country's defense capabilities. Japan plans to increase its defense budget to $270 billion over the next five years, a 1.6-fold increase from previous levels. It will also establish an organization modeled after the U.S. Defense Advanced Research Projects Agency (DARPA), which is known for pioneering technologies like the Internet and GPS.</p>
<p>Companies like Mitsubishi Heavy Industries and Mitsubishi Electric are also increasing their focus on defense-related businesses, recognizing the potential for public-private collaboration to drive technological advancements and cost efficiencies.</p>
<p><strong>Sparx Group Executive Office Takaki Demichi</strong> highlighted the evolving investment environment: "The support from both government and private sectors is critical for the growth of defense startups."</p>
<p>While the United States has a well-established ecosystem for funding defense startups, Japan is still in the early stages of building a similar framework.</p>
<p>"The establishment of a robust funding ecosystem is crucial for the long-term success of Japan's defense and aerospace startups," said <strong>Sparx Asset Management’s Head of Space Investment Tadashi Kito</strong>.</p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
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<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Melexis.jpg" alt="" />
<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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'content' => '<p>The U.S. subsidiary of Japanese group <strong>FANUC</strong>, one of the world’s largest makers of industrial robots, has opened a $110 million facility in Michigan to store, sell and maintain made-in-Japan industrial robots for North American customers, according to a statement from FANUC America.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-FANUC.jpg" alt="" />
<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'description' => 'K Health, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'content' => '<p>Ontario-based multinational <strong>Lee Li Holdings (LLH)</strong> <strong>CEO Lee Q. Shim</strong> told <strong>Cambodian Prime Minister Hun Manet </strong>in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-CAMB-Li-Lee-Holdings.jpg" alt="" />
<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Apple-Vision-Pro.jpg" alt="" />
<figcaption class="image-caption">Apple staff allow customers in Tokyo to try out Vision Pro headsets. (Photo source: Apple)</figcaption>
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<p>Expansion into the Asian market appears to be the way <strong>Apple</strong> chose to cement the Vision Pro's position as the default virtual reality/augmented reality headset and broaden its customer base.</p>
<p>According to Forbes contributor Anshel Sag, Apple needs this expansion to succeed because of a slump in U.S. sales, where demand for the $3,499 headset dropped after the initial rush. In Japan, the most affordable Vision Pro SKU with 256 GB of built-in storage currently sells for over $3,700 (599,800 Japanese yen).</p>
<p>Apple is looking into other markets following the Asian launch, although the tech giant confirmed that the Vision Pro will be available in the United Kingdom, Canada, Australia, France, and Germany from July 12.</p>
<p>Analysts will be closely monitoring if these overseas launches will generate new interest and hype for Apple’s newest product.</p>
<p>Capable of seamlessly blending digital content with the physical world to deliver powerful spatial experiences, Vision Pro will also be Apple’s first 3D camera. With the Vision Pro, users will be able to record spatial photos and videos for future playback.</p>',
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<figcaption class="image-caption">Jason P. Rebholz, the Acting Deputy Chief of Mission of the U.S. Embassy in Indonesia (Photo source: U.S. Embassy & Consulates in Indonesia)</figcaption>
</figure>
<p>The delegation consists of representatives from private companies and regional state-owned companies, as well as government officials from across the country.</p>
<p>“This year, as we celebrate 75 years of diplomatic relations between our two countries, we also mark the milestone of 80 future investors from across sectors and regions in Indonesia joining the SelectUSA Investment Summit 2024. This surpasses previous Indonesian participation since the establishment of the Summit in 2014,” said <strong>Acting Deputy Chief of Mission in Indonesia Jason P. Rebholz.</strong></p>
<p>Rebholz also noted that the diverse representation underscores the increasing interest and confidence of Indonesian investors in exploring opportunities in the United States.</p>
<p>SelectUSA is a program led by the U.S. Department of Commerce that focuses on facilitating job-creating investment opportunities in the United States and raising awareness of the critical role that international partnerships play in creating broad-based economic prosperity.</p>
<p>The annual summit has become a crucial platform for encouraging direct investment into the United States, enhancing economic engagement and bolstering people-to-people connections. It has gathered thousands of investors from around the globe, providing them with valuable insights, resources, and networking opportunities with economic development officials from across the United States.</p>
<p>Participants also get access to investment incentives, tax benefits, site selection options, and industry clusters tailored to their specific interests and objectives.</p>
<p>The SelectUSA Investment Summit also fosters international partnerships that benefit both the U.S. economy and Indonesian investors, such as the U.S.-Indonesia Comprehensive Strategic Partnership.</p>',
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'title' => 'Virginia: Danville gets federal support for aviation industry',
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'description' => 'U.S. Secretary of Commerce Gina Raimondo has approved a $4.1 million grant to the city of Danville, Virginia to build a new aviation training facility, according to a statement from the
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'content' => '<p><strong>U.S. Secretary of Commerce Gina Raimondo</strong> has approved a $4.1 million grant to the city of Danville, Virginia to build a new aviation training facility, according to a statement from the Economic Development Administration (EDA).</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-11-EAST-Danville-VA.jpg" alt="" />
<figcaption class="image-caption">U.S. Secretary of Commerce Gina Raimondo (Photo source: U.S. Economic Development Administration Public Affairs Department)</figcaption>
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<p>The 12,532-square-foot aviation training facility will rise at Danville Regional Airport to support aviation maintenance and flight instruction training activities. This EDA investment will be matched with $2.7 million in local funds.</p>
<p>“President Biden’s Investing in America agenda is about ensuring that all communities have the resources and opportunities they need to thrive in today’s economy. America’s workers are the source of our country’s innovation and competitiveness, and this EDA grant will support workforce training for in-demand jobs in transportation, logistics, and more,” Raimondo said.</p>
<p>Meanwhile, <strong>Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo</strong> added: “The Economic Development Administration works closely with local communities to support place-based economic growth. This investment in the Danville Regional Airport will support the creation of critical jobs and the development of a resilient regional economy.”</p>
<p>“It is critical that we maintain the facilities that drive economic growth in the Commonwealth.</p>
<p>This major investment toward the City of Danville will play a pivotal role in enhancing community infrastructure and building a skilled workforce,” said <strong>Gov. Glenn Youngkin</strong>.</p>',
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'title' => 'Texas: Arlington EDC launches new website ',
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'description' => 'The Arlington Economic Development Corporation has launched a newly designed website, ArlingtonTxEDC.com, which features a refreshed logo and easier access to information on the Texan city's economic climate, including interactive visualized data, workforce insights, and available investment incentives, according to a statement from the City of Arlington.',
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'content' => '<p>The <strong>Arlington Economic Development Corporation </strong>has launched a newly designed website, ArlingtonTxEDC.com, which features a refreshed logo and easier access to information on the Texan city’s economic climate, including interactive visualized data, workforce insights, and available investment incentives, according to a statement from the City of Arlington.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-11-EAST-Arlington-EDC.jpg" alt="" />
<figcaption class="image-caption">Arlington EDC Executive Director Marty Wieder (Photo source: Arlington EDC)</figcaption>
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<p>“As a funded EDC, we're still so young. So, the data, words and photos we include are quite critical for the story we are sharing. This renewal and relaunch should give a clear picture of where Arlington's been, where we are now, and where we're headed, so others can see the value of choosing to come along with us,” said <strong>Arlington EDC executive director Marty Wieder.</strong></p>
<p>The new Arlington EDC website will also provide users with news about the latest projects, local business spotlights, small business resources, and other economic happenings in the city, which will also be shared through its digital newsletter.</p>
<p>Named by financial website WalletHub in 2024 as one of the best large cities to start a business in the United States, Arlington offers investors access to major airports with non-stop flights to over 200 local and international destinations, generous incentives, world-class entertainment facilities, leading universities, and access to a thriving metropolis of over 6.5 million people.</p>',
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'description' => 'Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in Asia, Vision Pro was limited to the United States, where the product went on sale in February.',
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'content' => '<p>Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in Asia, Vision Pro was limited to the United States, where the product went on sale in February.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Apple-Vision-Pro.jpg" alt="" />
<figcaption class="image-caption">Apple staff allow customers in Tokyo to try out Vision Pro headsets. (Photo source: Apple)</figcaption>
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<p>Expansion into the Asian market appears to be the way <strong>Apple</strong> chose to cement the Vision Pro's position as the default virtual reality/augmented reality headset and broaden its customer base.</p>
<p>According to Forbes contributor Anshel Sag, Apple needs this expansion to succeed because of a slump in U.S. sales, where demand for the $3,499 headset dropped after the initial rush. In Japan, the most affordable Vision Pro SKU with 256 GB of built-in storage currently sells for over $3,700 (599,800 Japanese yen).</p>
<p>Apple is looking into other markets following the Asian launch, although the tech giant confirmed that the Vision Pro will be available in the United Kingdom, Canada, Australia, France, and Germany from July 12.</p>
<p>Analysts will be closely monitoring if these overseas launches will generate new interest and hype for Apple’s newest product.</p>
<p>Capable of seamlessly blending digital content with the physical world to deliver powerful spatial experiences, Vision Pro will also be Apple’s first 3D camera. With the Vision Pro, users will be able to record spatial photos and videos for future playback.</p>',
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'description' => 'American technology giant IBM has partnered with the National Institute of Advanced Industrial Science and Technology (AIST) in Japan to develop the world's most advanced quantum computers, which are expected to be operational by 2029. This marks IBM's first large-scale collaboration with a foreign institution in quantum computing. ',
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'content' => '<p>American technology giant <strong>IBM</strong> has partnered with the <strong>National Institute of Advanced Industrial Science and Technology (AIST) </strong>in Japan to develop the world’s most advanced quantum computers, which are expected to be operational by 2029. This marks IBM's first large-scale collaboration with a foreign institution in quantum computing.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-IBM-Japan.jpg" alt="" />
<figcaption class="image-caption">Senior officers from IBM and AIST during the signing of the memorandum of agreement in May (Photo source: HPC Wire)</figcaption>
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<p>Both parties formalized their partnership last month by signing a memorandum of understanding (MoU), which states their commitment to accelerate the growth of the quantum industry in Japan and foster an ecosystem to maximize business impact.</p>
<p>This next-generation quantum computer will have 10,000 quantum bits or ‘qubits,’ or 75 times more than the current generation of quantum computers, which have 133. Existing quantum computers often make errors and are used alongside supercomputers to achieve accurate results. A qubit, the basic unit of quantum information, gauges the performance of a quantum computer.</p>
<p>IBM and AIST will address the issue of accuracy by developing a computer that can calculate high-level combinations independently. They will also focus on developing semiconductors and superconducting integrated circuits capable of withstanding extreme temperatures, crucial for quantum computers that operate in near absolute zero environments.</p>
<p>This partnership is a significant step towards diversifying the commercial capabilities of quantum computers. Scientists suggest that hardware supporting 20,000 to 30,000 qubits is necessary for transformative research advancements.</p>
<p>While IBM plans to start selling 1000-qubit computers by 2025, AIST will train Japanese companies to adopt these systems for research in industries, like pharmaceuticals. The collaboration may also involve Japanese manufacturers to leverage their mass production capabilities.</p>',
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'description' => 'Japan's Prime Minister Fumio Kishida highlighted the growing economic ties between his country and North Carolina, which he visited during a recent official visit to the United States. The country has overtaken Germany as the state's largest source of foreign direct investment, according to the North Carolina Commerce Department.',
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'content' => '<p><strong>Japan’s Prime Minister Fumio Kishida </strong>highlighted the growing economic ties between his country and North Carolina, which he visited during a recent official visit to the United States. The country has overtaken Germany as the state’s largest source of foreign direct investment, according to the North Carolina Commerce Department.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Kishida-in-NC.jpg" alt="" />
<figcaption class="image-caption">Japanese Prime Minister Fumio Kishida offers a toast during a luncheon at the State Department in Washington, D.C. (Photo source: Roberto Schmidt/AFP)</figcaption>
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<p>During his trip, Kishida visited sites that exemplified the strong connection between Japan and North Carolina, like HondaJet's facility in Greensboro and Toyota’s future battery plant in Randolph County, which is expected to employ 5,000 people when it opens.</p>
<p>The prime minister’s visit coincided with Fujifilm Diosynth’s announcement of a $1.2 billion expansion in the state. Other Japanese companies in North Carolina include Morinaga, Astellas Gene Therapies, and Sumitomo Pharma, which collectively employ more than 35,000 people.</p>
<p><strong>Gov. Roy Cooper</strong>, who has headed trade missions to Tokyo in 2017 and 2023, hosted a lunch for Kishida in the Executive Mansion in the state capital Raleigh.</p>
<p>“North Carolina is an ideal location because of the Research Triangle, its logistical networks, and, more than that, the people. Japanese and North Carolina people are very similar in their resiliency and high work ethic,” said Masashi Mizobuchi, assistant press secretary of Japan's Ministry of Foreign Affairs.</p>
<p>Acknowledging the importance of the academic and cultural partnership between North Carolina and Japan, Kishida went to NC State’s Centennial Campus, the first visit by a foreign head of government since 1954, and dropped by Nagoya University’s Global Campus, a symbol of a long-standing partnership in student exchanges and joint research for nearly 40 years.</p>
<p>He also met with students from other local universities, like the University of North Carolina at Chapel Hill and Duke University.</p>
<p>In October, North Carolina will host the next Southeast US-Japan (SEUS-Japan) conference, which has served as a forum for deeper dialogue and closer collaboration between Japan and states in the southeastern United States.</p>',
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'content' => '<p>In today's fast-paced digital era, keeping up with trends is not a strategy but a necessity. Forbes reports that moving into the digital space and focusing on customer experience can raise customer satisfaction by 20-30% and boost revenues by 20-50%.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-NYNJ-Maestro-Tech.jpg" alt="" />
<figcaption class="image-caption">Kamal Bathla (right) with Paul Ceppi, former Banking and Community Development Director of the New Jersey Economic Development Authority, during the opening of Maestro Technologies' headquarters in Trenton, New Jersey in 2017. (Photo source: New Jersey Economic Development Authority)</figcaption>
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<p>To understand why digital transformation is now a critical component of success for businesses everywhere, GMI POST sat down with <strong>Maestro Technologies Inc. Managing Director Kamal Bathla.<br /></strong></p>
<p>Founded in 1989, Maestro Technologies is an IT solutions provider that excels in automation, system integration, consulting services, and e-commerce solutions. Its team comprises seasoned professionals with a deep understanding of the ever-evolving IT landscape.</p>
<p>“If you look at every single market, you realize that companies have to be adaptable and transformative. We can't build or rebuild an ISP, but what we can do is stay ahead of the game, identify the trend, and provide help to companies who are moving that route," <strong>Bathla said.</strong></p>
<p>Maestro is not just keeping up with current trends but also setting the pace in the IT industry by focusing on cutting-edge concepts such as AI.</p>
<p>“With new concepts such as AI, cloud migration, cloud computing, and cloud integrations, all these come into play as they allow us to expand our knowledge of the new tech. Many don't have enough time to keep up with the changes, and what we do is see how the clients can benefit from the research we do,” Bathla said.</p>
<p>By staying ahead of technological advancements and adapting to market needs, Maestro is helping businesses thrive in the age of e-commerce.</p>',
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'id' => '545739',
'title' => 'Codingate: The guiding hand of Cambodian SMEs',
'description_old' => null,
'description' => 'The COVID pandemic pushed Cambodian businesses to see digital transformation as a need rather than a luxury. SMEs, in particular, faced the biggest challenges in making the transition because of additional costs, the rapid pace of innovation, and resistance to change. They needed a guide to navigate the complexities of digital transformation. ',
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'url' => 'codingate-the-guiding-hand-of-cambodian-smes',
'tags' => 'Cambodia, IT ',
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'content' => '<p>The COVID pandemic pushed Cambodian businesses to see digital transformation as a need rather than a luxury. SMEs, in particular, faced the biggest challenges in making the transition because of additional costs, the rapid pace of innovation, and resistance to change. They needed a guide to navigate the complexities of digital transformation.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-CAMB-Codingate.jpg" alt="" />
<figcaption class="image-caption">Codingate Chairman and Co-Founder Sopheakmonkol Sok (Photo source: Codingate)</figcaption>
</figure>
<p>Established in 2013, <strong>Codingate </strong>became a household name in Cambodia’s IT sector, having delivered more than 500 projects and winning numerous awards in the process by providing innovative digital solutions to clients, including custom software that uses AI. Its AI-powered technology has helped SMEs streamline their operations, boost efficiency, and lower costs.</p>
<p>“We start the digitalization process by introducing advanced technology into one aspect of the business and then gradually build a unified system that centralizes management. Our clients appreciate this approach as it allows for a smooth, gradual digital transformation,” <strong>Codingate Chairman and co-founder Sopheakmonkol Sok</strong> told GMI POST.</p>
<p>Instead of imposing its solutions on SMEs, Condingate has helped young entrepreneurs by developing software and processes that fit into the core functions of their businesses.</p>
<p>“Digital transformation is not just about the strength of the technology or the expertise of the service provider. It’s also about how well it supports the governance of the business. We strive to deliver transformations that will benefit our clients for decades, rooted in their governance values,” Sok stressed.</p>
<p>Looking ahead, Codingate is committed to introducing the latest solutions that will support the growth of SMEs in the country.</p>
<p>Codingate developed <strong>Gatemaster AI</strong>, a proprietary business advisory technology designed to help businesses analyze vast amounts of data and detect key market trends, customer behavior, and industry benchmarks, thus providing scalable and cost-effective solutions.</p>
<p>“Gatemaster leverages the power of generative AI to craft tailored business solutions for our clients based on comprehensive market trend analysis,” Sok said.</p>
<p>Another game-changing solution in the pipeline is <strong>Gatecommerce Digital Solution</strong>, a suite of proprietary tools and features aimed at revolutionizing SMEs’ e-commerce operations by digitalizing the entire purchasing process for end-users.</p>
<p>“Our latest e-commerce solution is user-friendly even for companies with minimal experience. We see it as a powerful tool to further digitalize Cambodia’s economy,” Sok said.</p>',
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'title' => 'Digital Assets 101: An introduction for the cautious digital investor',
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'description' => 'How would you like to lower your risk when investing in digital assets? But how safe are they? Are NFTs the only options? Do central banks vouch for them? It's always helpful to do some research before making your hard-earned money work for you.',
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'url' => 'digital-assets-101-an-introduction-for-the-cautious-digital-investor',
'tags' => 'Singapore, Fintech, Digital Assets',
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'content' => '<p>How would you like to lower your risk when investing in digital assets?</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-10-SG-Alta-Group.jpg" alt="" />
<figcaption class="image-caption">Alta Group Co-Founder and Chief Commercial Officer Benjamin Twoon (Photo source: Alta Exchange)</figcaption>
</figure>
<p>The Internet has democratized knowledge and many processes. Until a few decades ago, only a select few had access to resources about investing. Today, anyone signed up to a banking or telecommunications platform receives marketing campaigns for investing online.</p>
<p>But how safe it is? Are NFTs the only options? Do central banks vouch for them? It’s always helpful to do some research before making your hard-earned money work for you.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>Let’s begin with some basic definitions. </strong></span><br /><br /></p>
<p>Digital assets originally applied to media formats stored in a digital environment like documents, pictures and videos. Now, Nasdaq stock market explains that with the emergence of blockchain technology, the term “digital assets” has expanded to include asset-backed tokens, tokenized real estate, cryptocurrencies, and non-fungible tokens (NFT).</p>
<p>Tangible assets, like commodities and real estate, are now being tokenized and have created new opportunities for the digital marketplace.<br /><br /></p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>How many people are investing in digital assets? </strong></span><br /><br /></p>
<p>As of 2023, the average daily number of digital asset investors and traders was at 5.9 million. The global value of digital assets is at $1.5 trillion with an expected 33% year-over-year growth rate. Suffice to say, the rapid growth of digital assets has the potential to substantially impact the investment landscape.</p>
<p> </p>
<p><span style="font-size: 18pt;"><strong><span style="font-family: helvetica;">Why are digital assets becoming more popular among investors?</span> </strong></span></p>
<p> </p>
<p>According to a survey of 774 institutional investors in the United States and Europe conducted by U.S.-based fintech company Kubera, nearly 80% of respondents said they found digital assets “appealing” for various reasons.</p>
<p>The top three reasons were as follows: They lacked correlation with other assets” (36%). They were interesting and innovative (34%). They had a high-potential upside (33%).</p>
<p>To find out more, GMI POST spoke with<strong> Alta Group Co-Founder and Chief Commercial Officer Benjamin Twoon,</strong> who believed there was an upward trend when it came to the popularity of investing in digital and alternative assets.</p>
<p>Alta, formerly known as Fundnel, is Southeast Asia’s largest digital marketplace for alternative investments and was recently recognized as a Technology Pioneer by the World Economic Forum.</p>
<p>Asked about the safety of investing in digital products, Twoon said, “Alta Exchange is accredited by the Monetary Authority of Singapore (MAS). We deal in security tokens that are regulated by the central bank. It’s credible and secure.”</p>
<p>For more information about digital and alternative assets, visit <a href="https://alta.exchange/alta-exchange" target="_blank" rel="noopener">Alta Exchange</a> and start your way to investing in secure digital assets.</p>',
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'id' => '545735',
'title' => 'Kyowa Kirin pumps $530 million into North Carolina's pharmaceutical hub',
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'description' => 'Japanese pharmaceutical company Kyowa Kirin announced plans to invest up to $530 million to build its first North American manufacturing facility in Lee County, North Carolina. The announcement follows the company's earlier decision to invest $200 million in a plant in Sanford, which is expected to create over 102 jobs in the region. ',
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'url' => 'kyowa-kirin-pumps-530-million-into-north-carolinas-pharmaceutical-hub',
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'content' => '<p>Japanese pharmaceutical company <strong>Kyowa Kirin</strong> announced plans to invest up to $530 million to build its first North American manufacturing facility in Lee County, North Carolina. The announcement follows the company’s earlier decision to invest $200 million in a plant in Sanford, which is expected to create over 102 jobs in the region.</p>
<figure class="image-container floated-right" style="float: right;"><strong><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Kyowa-Kirin.jpg" alt="" /></strong></figure>
<figure class="image-container floated-right" style="float: right;">
<figcaption class="image-caption">Sanford Area Growth Alliance CEO Jimmy Randolph (Photo source: Sanford Area Growth Alliance)</figcaption>
</figure>
<p><strong>Becky Levine, Director of Community Engagement and Public Affairs in Kyowa Kirin North America Manufacturing,</strong> said the $530 million investment figure was a conservative estimate and the company was confident about the potential for further investment.</p>
<p>The additional investment is anticipated to boost employment opportunities in the region and strengthen Lee County’s efforts to become a pharmaceutical manufacturing hub in the region.</p>
<p><strong> </strong><strong>Sanford Area Growth Alliance</strong> <strong>Chief Executive Jimmy Randolph</strong> said they were “continuing to see a significant amount of interest from various life sciences projects here in Lee County.”</p>
<p>Meanwhile, <strong>Kyowa Kirin North America</strong> <strong>Executive Vice President Paul Testa </strong>highlighted the ample supply of specialized manpower and resources within the Sanford and the Research Triangle region.</p>
<p>“The plentiful supply of resources in Sanford and Research Triangle region adds to the excitement of collaborating with area colleges, universities, businesses, and civic leaders to ensure that our plans align with Sanford’s vision for growth,” he said.</p>
<p>Kyowa Kirin will break ground on the new facility in the second half of the year and hopes to start operations by 2027. The company also anticipates future expansion and is eyeing the 75-acre campus at Helix Innovation Park at The Backyard.</p>
<p>North Carolina has supported Kyowa Kirin’s investment by providing $10 million in performance-based state and local incentives for 12 years. North Carolina’s Department of Commerce projects that Kyowa Kirin’s investment will boost the region’s economy by $1.05 billion and significantly increase average local wages.</p>
<p>With this investment, Kyowa Kirin joins other esteemed pharmaceutical companies, including Astellas and Pfizer, in establishing a presence in Lee County.</p>',
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'id' => '545736',
'title' => '200 Japanese engineers to get training in chip-making in the U.S.',
'description_old' => null,
'description' => 'Japan's state-backed research consortium Leading-edge Semiconductor Technology Center (LSTC) and Japanese chipmaker Rapidus will send 200 engineers to the United States later this year to train at startup Tenstorrent, which makes chips for artificial intelligence, according to a report by Nikkei Asia.',
'credit_id' => '48',
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'url' => '200-japanese-engineers-to-get-training-in-chip-making-in-the-us',
'tags' => 'US, Japan, Semiconductors, AI',
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'content' => '<p>Japan’s state-backed research consortium <strong>Leading-edge Semiconductor Technology Center (LSTC)</strong> and Japanese chipmaker <strong>Rapidus</strong> will send 200 engineers to the United States later this year to train at startup <strong>Tenstorrent</strong>, which makes chips for artificial intelligence, according to a report by Nikkei Asia.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Testorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent's RISC-V Products Chief Architect Wei-Han Lien (Photo source: Tenstorrent)</figcaption>
</figure>
<p>Candidates for the training program will be mainly graduate students or chip designers from the private sector aged between 30 and 49. After their training, the candidates are expected to return to Japan to work as engineers in the telecommunications, autos, semiconductor industries or at research institutions.</p>
<p>Japan’s Ministry of Economy, Trade and Industry has said it will extend $6.4 million in subsidies to support the project, particularly for pre-departure training and living expenses of the trainees while overseas.</p>
<p>LSTC is a research group formed by Rapidus and the government in 2022. Members include the University of Tokyo, as well as other national universities and research institutes.</p>
<p>Under their partnership, Rapidus and Tenstorrent are seeking to develop specialized AI chips with lower power consumption than the graphics processing units made by U.S.-based Nvidia, the AI sector's current mainstay.</p>
<p>“The joint effort by Tenstorrent and LSTC to create a chiplet-based edge AI accelerator represents a groundbreaking venture into the first cross-organizational chiplet development in semiconductor industry,” said <strong>Wei-Han Lien</strong>, <strong>Chief Architect of Tenstorrent’s RISC-V products.</strong></p>
<p>“The edge AI accelerator will incorporate LSTC’s AI chiplet along with Tenstorrent's RISC-V and peripheral chiplet technology. This pioneering strategy harnesses the collective capabilities of both organizations to use the adaptable and efficient nature of chiplet technology to meet the increasing needs of AI applications at the edge,” Lien added.</p>',
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'title' => 'Meet the rising stars of Japan's aerospace sector',
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'description' => 'Japanese defense and aerospace startups are capturing the attention of U.S. venture capital investors, filling a gap left by a less-developed domestic funding landscape. This growing interest aligns with Japan's recent push to bolster its defense capabilities, leading to increased foreign investment in the sector.',
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'url' => 'meet-the-rising-stars-of-japans-aerospace-sector',
'tags' => 'US, Japan, Aerospace, Defense ',
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'content' => '<p>Japanese defense and aerospace startups are capturing the attention of U.S. venture capital investors, filling a gap left by a less-developed domestic funding landscape. This growing interest aligns with Japan's recent push to bolster its defense capabilities, leading to increased foreign investment in the sector.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-10-Defense-Startups.jpg" alt="" />
<figcaption class="image-caption">Astroscale launched the ADRAS-J mission, the world's first debris inspection spacecraft, in February 2024. (Photo source: Astroscale)</figcaption>
</figure>
<p>"Businesses overseas are more aware than those at home that an increased budget will expand the defense industry," said Japan’s Ministry of Defense's Acquisition, Technology, and Logistics Agency in a press statement. This heightened awareness among U.S. investors has led to a surge in funding for innovative Japanese startups, particularly those involved in cutting-edge aerospace and defense technologies.</p>
<p>One standout example is <strong>Astroscale</strong>, a Tokyo-based company specializing in space debris removal and satellite refueling. The firm made a notable debut on the Tokyo Stock Exchange's Growth market, reflecting the strong confidence in its prospects.</p>
<p>“Astroscale's mission to ensure that sustainable space operations has resonated with investors globally,” said <strong>Astroscale Vice President Shunji Izutsu, </strong>a former chief of staff of Japan’s Air Self-Defense Force.</p>
<p>To date, Astroscale Holdings is raising $153 million via an initial public offering (IPO) at Tokyo. The Japanese space tech startup said it intended to use the IPO proceeds primarily towards project development and research and development.</p>
<p>Astroscale is the first space debris removal company to conduct an IPO and the second space industry global IPO in Japan, following ispace Inc.’s global IPO in 2023.</p>
<p>Similarly, <strong>Synspective</strong>, another Tokyo-based startup, has gained attention for its work with synthetic aperture radars, which can capture images in all weather conditions, day or night. The company has been involved in significant government projects, providing valuable data and insights to the Ministry of Defense.</p>
<p>This month, Synspective announced that it secured $44.1 million in a Series C funding round and said it will use the money to accelerate its global business expansion.</p>
<p>Yuki Takemori, head of the Development Bank of Japan’s Innovation Promotion office, said: “We are now more open to projects we might have previously avoided.”</p>
<p>The trend is part of a broader effort by the Japanese government to enhance the country's defense capabilities. Japan plans to increase its defense budget to $270 billion over the next five years, a 1.6-fold increase from previous levels. It will also establish an organization modeled after the U.S. Defense Advanced Research Projects Agency (DARPA), which is known for pioneering technologies like the Internet and GPS.</p>
<p>Companies like Mitsubishi Heavy Industries and Mitsubishi Electric are also increasing their focus on defense-related businesses, recognizing the potential for public-private collaboration to drive technological advancements and cost efficiencies.</p>
<p><strong>Sparx Group Executive Office Takaki Demichi</strong> highlighted the evolving investment environment: "The support from both government and private sectors is critical for the growth of defense startups."</p>
<p>While the United States has a well-established ecosystem for funding defense startups, Japan is still in the early stages of building a similar framework.</p>
<p>"The establishment of a robust funding ecosystem is crucial for the long-term success of Japan's defense and aerospace startups," said <strong>Sparx Asset Management’s Head of Space Investment Tadashi Kito</strong>.</p>',
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'id' => '545756',
'title' => 'Renowned U.S. chip designer wants to end Nvidia's global dominance',
'description_old' => null,
'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
</figure>
<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'description' => 'For the third time in the last five years, Virginia was ranked America's Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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'description' => 'The U.S. subsidiary of Japanese group FANUC, one of the world's largest makers of industrial robots, has opened a $110 million facility in Michigan to store, sell and maintain made-in-Japan industrial robots for North American customers, according to a statement from FANUC America.',
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'content' => '<p>The U.S. subsidiary of Japanese group <strong>FANUC</strong>, one of the world’s largest makers of industrial robots, has opened a $110 million facility in Michigan to store, sell and maintain made-in-Japan industrial robots for North American customers, according to a statement from FANUC America.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-FANUC.jpg" alt="" />
<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'description' => 'K Health, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
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<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
<p>“The National University Centre for Trauma represents decades of efforts in refining our trauma care expertise for our injured patients to return to their lives and achieve their dreams. It also aims to prevent trauma from occurring in the first place with data-driven injury prevention efforts,” said <strong>National University Centre for Trauma Director Raj Menon.</strong></p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'content' => '<p>Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in Asia, Vision Pro was limited to the United States, where the product went on sale in February.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-11-Apple-Vision-Pro.jpg" alt="" />
<figcaption class="image-caption">Apple staff allow customers in Tokyo to try out Vision Pro headsets. (Photo source: Apple)</figcaption>
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<p>Expansion into the Asian market appears to be the way <strong>Apple</strong> chose to cement the Vision Pro's position as the default virtual reality/augmented reality headset and broaden its customer base.</p>
<p>According to Forbes contributor Anshel Sag, Apple needs this expansion to succeed because of a slump in U.S. sales, where demand for the $3,499 headset dropped after the initial rush. In Japan, the most affordable Vision Pro SKU with 256 GB of built-in storage currently sells for over $3,700 (599,800 Japanese yen).</p>
<p>Apple is looking into other markets following the Asian launch, although the tech giant confirmed that the Vision Pro will be available in the United Kingdom, Canada, Australia, France, and Germany from July 12.</p>
<p>Analysts will be closely monitoring if these overseas launches will generate new interest and hype for Apple’s newest product.</p>
<p>Capable of seamlessly blending digital content with the physical world to deliver powerful spatial experiences, Vision Pro will also be Apple’s first 3D camera. With the Vision Pro, users will be able to record spatial photos and videos for future playback.</p>',
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Apple Vision Pro debuts in Singapore, Japan, China, and HK
Last month, the much-awaited Vision Pro landed in Apple Store locations across Singapore, Japan, mainland China, and Hong Kong. Before its debut in...
