Key Partnerships and Investments in Technology, Finance, and Pension Industries
Deutsche Telekom and NVIDIA Join Forces for European AI Cloud
German telecommunications company Deutsche Telekom and US chip manufacturer NVIDIA have announced a collaboration to build the first industrial-grade AI cloud for European manufacturers in Germany. The project is expected to be completed by 2026, according to a joint statement from both companies.
- NVIDIA will supply 10,000 chips for the site.
- Deutsche Telekom will provide infrastructure and manage data centers, operations, sales, security, and AI solutions.
Meta Invests Heavily in Scale AI
In the realm of artificial intelligence (AI), Meta has made a significant investment in Scale AI, valuing the company at over 29 billion USD and expanding their business partnership.
- Following the investment, Meta will maintain a minority stake in Scale’s circulating capital.
- Reuters reported, citing sources familiar with the matter, that Meta will acquire a 49% stake in Scale for 14.3 billion USD.
Scale, which offers AI development data through its data foundry, stated that it will use the operation’s revenue to enhance its offerings and provide liquidity to its shareholders.
Elektra’s Capital Raising Initiative in Mexico
Grupo Elektra to Raise Capital in Mexico
Mexican company Grupo Elektra, specializing in specialized retail and financial services, plans to raise up to 12,414 million 582,800 pesos (approximately 655 million USD) through the issuance of three bonds with maturities of three, five, and seven years in the local debt market.
- The company will issue bonds in the “vasos comunicantes” format, allowing parallel emissions that collectively cannot exceed the total placement amount.
- This issuance will be under a dual certificate program with a revolving amount of up to 20 billion pesos or its equivalent in units of investment (udis).
The bonds received the following ratings: ‘AA-.mx’ from Moody’s Local México, ‘HR AA’ from HR Ratings, and ‘AA/M’ from PCR Verum.
World Pension Alliance Strengthens its Position
International Federation of Pension Fund Administrators (FIAP) Takes Leadership in World Pension Alliance
The International Federation of Pension Fund Administrators (FIAP) assumed the presidency of the World Pension Alliance over the weekend. FIAP has been a member since 2016.
- The World Pension Alliance currently represents over 400 million participants and beneficiaries covered by retirement plans, as well as approximately 5,000 providers managing 7 trillion USD.
- The primary goal of this organization is to be the leading voice for the pension industry by facilitating the exchange of ideas, experiences, and best practices among its members.
