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Industry

Kakao blocks Kakao Mobility U.S. ADR listing, opposes TPG stake securitisation structure

Kakao has moved to block Kakao Mobility’s push to list American depositary receipts in the United States, objecting to a structure focused on liquidity for second-largest shareholder TPG’s existing stake. Kakao’s board said it opposed proceeding under the current plan after reviewing shareholder protection measures and the impact on Kakao and its common shareholders. Kakao also cited concerns over dual listing burdens, NAV discount expansion and potential conflicts of interest.

AI & Enterprise

AI-era SI business emerges as major tech firms launch FDE push

Views on software customization in enterprise software are shifting as AI agents spread, with some in the industry saying optimization is becoming a future-defining keyword. Calls are growing for system integration-style work to build software to customer needs, with some arguing AI agents without customization struggle in enterprise markets. Major AI firms are expanding hiring of forward deployed engineers and forming joint ventures to support deployments, while executives say deploying agents is complex and requires deep process understanding.

AI & Enterprise

OpenAI forms joint venture to help companies adopt AI, buys AI consulting and engineering firm Tomoro

OpenAI said it has formed a joint venture with investment firms, consultancies and system integrators to help companies adopt and integrate AI. The venture, called the OpenAI Deployment Company, was established with 19 partners including TPG, Advent, Bain Capital and Brookfield. OpenAI raised more than $4 billion from partner companies and put the venture’s total valuation at about $10 billion. It also acquired AI consulting and engineering firm Tomoro.