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Finance

Korea's three internet-only banks extend CEO terms, face test of growth limits

The heads of South Korea’s three internet-only banks are set to win new terms, with K Bank and Toss Bank naming sole CEO candidates and KakaoBank already reappointing its chief for a fifth term. The banks cite achievements including an IPO, profitability gains and platform expansion. They now face a tougher environment as regulators push higher lending to mid- to low-credit borrowers and as delinquency metrics run about double those of the four major banks.

AI & Enterprise

AMI Labs founded by Yann LeCun raises $1.03 billion to step up world model development

AMI Labs, founded by AI researcher Yann LeCun, has raised $1.03 billion to develop a “world model,” SiliconANGLE reported on March 10 local time. The round included Khosla Ventures, Greycroft, Hiro Capital and Bezos Expeditions, and also brought in Nvidia and Samsung Electronics. AMI Labs was valued at $3.5 billion. The company aims to analyse camera and sensor data and apply AI across industries, including robotics.

AI & Enterprise

Nvidia invests in Thinking Machines Lab founded by Mira Murati

Thinking Machines Lab, a generative AI development startup founded by former OpenAI CTO Mira Murati, has signed a long-term strategic partnership with Nvidia, TechCrunch reported on March 10. The agreement includes adopting 1-gigawatt Nvidia Vera Rubin systems from 2027. Nvidia will also participate as an investor by committing a significant amount. Thinking Machines Lab has raised more than $2 billion since its 2025 founding, valuing it at $12 billion, but has not released a commercial product.