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AI & Enterprise

LG CNS joins global AI materials alliance, backs AX for South Korean firms

LG CNS said on July 27 it was selected as a founding member of the AI Materials Foundry, a global materials development collaboration led by British AI startup CuspAI. The alliance includes 48 companies and research institutes including Nvidia, Meta, AMD, 3M and Merck. LG CNS will oversee the platform’s introduction and operations in South Korea, supporting data integration, result interpretation, and platform deployment and maintenance for firms developing new materials.

AI & Enterprise

AI boom lifts Japan\'s Toto, Nittobo and Ajinomoto shares

In Japan’s stock market, Toto, Nittobo and Ajinomoto have emerged as beneficiaries of the artificial intelligence boom despite not being semiconductor companies. CNBC reported their shares are up 78 percent, 63 percent and 61 percent this year as they apply materials and manufacturing know-how to the semiconductor supply chain. The firms supply key components and materials used in chipmaking and packaging, and all posted clear growth in semiconductor-related businesses in the year ended March 31.

Industry

Hanwha Solutions sells U.S. venture investment fund for $84.3 million to boost liquidity

Hanwha Solutions said on Wednesday it sold a venture investment fund that invested in U.S. innovative companies for $84.3 million. The company said it will use the proceeds to supplement funds for debt repayment created by the reduction in its rights issue and to bring forward plans to improve its financial structure. It also said it will quickly push ahead with 300 billion won of investor asset monetisation presented during the rights issue revision process.