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Finance

KB Securities posts Q1 net profit of 350.2 billion won, up 92.75 percent year on year

KB Securities posted a sharp rise in first-quarter earnings, helped by stronger stock markets. Consolidated revenue rose 179.46 percent from a year earlier to 8.35 trillion won. Net profit increased 92.75 percent to 350.2 billion won and operating profit climbed 101.73 percent to 453.1 billion won. The company recorded broad-based growth across wealth management, investment banking, capital markets and wholesale operations.

Finance

Shinhan Investment Securities posts Q1 net profit of 288.4 billion won, up 167.4 percent

Shinhan Investment Securities said on Wednesday its first-quarter net profit rose 167.4 percent from a year earlier to 288.4 billion won. Operating profit jumped 228.5 percent to 386.4 billion won as fee-based income expanded. Operating revenue climbed 90.2 percent to 701.5 billion won, while fee income rose 111.7 percent to 407.4 billion won. Brokerage commissions surged, while investment banking revenue fell year on year.

AI & Enterprise

Motif builds proprietary tools instead of Nvidia software for homegrown AI foundation model development

Motif Technologies, a developer of proprietary AI foundation models, is seeking differentiation by using its own platform rather than Nvidia software tools. It says using Nvidia’s general-purpose tools makes it hard to beat big tech firms with superior computing power. Chief Executive Jung-hwan Lim said Nvidia tools limit developer flexibility and can lock users into Nvidia’s ecosystem. Motif uses Nvidia GPUs and CUDA but replaces Nvidia’s model development tools with in-house software.