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AI & Enterprise

UBS says China big tech to reap AI investment gains within 2-3 years

China's internet giants are likely to capture a larger share of artificial intelligence profits within 2 to 3 years, UBS said. It expects pricing power to shift from upstream chip and infrastructure players to downstream internet platforms as supply constraints ease. The view comes as Tencent and Alibaba ramp up AI spending, weighing on cash flow. UBS also highlighted cost efficiency in China’s AI sector, citing lower training and API costs than global peers.

Crypto

Strive buys bitcoin for 9 straight trading days, funding structure put to test

Asset manager Strive has bought bitcoin for nine straight trading days using funds raised by issuing SATA preferred shares. It most recently bought 104 BTC on Sept. 1, Cryptopolitan reported. The buying comes as corporate bitcoin purchases have generally slowed. Strive said SATA pays dividends every business day with an annual dividend rate of 13.00 percent. Analysts warned the cycle depends on market confidence, while the company reported a second-quarter GAAP net loss of $257.6 million.

Finance

KB Kookmin Bank holds prize event for in-kind transfers of personal IRP

KB Kookmin Bank is running a prize event for customers who transfer their personal individual retirement pension (IRP) contracts to the bank. The bank said the "WELCOME" event will run through the 30th. Customers who apply via KB Star Banking and transfer or move in kind a personal IRP from another financial institution are eligible. Benefits vary by transfer amount, with rewards from 10,000 won to 30,000 won.