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Vertex Ventures CEO Kee Lock Chua says Southeast Asia’s startup scene faces its first true reset after years of cheap capital and inflated valuations. He stresses discipline over hype, citing weak returns, reckless funding, and survival tactics, while noting AI could spark future opportunities despite cyclical downturns.
Thailand is emerging as a confident adopter of artificial intelligence, with ChatGPT usage jumping fourfold, OpenAI reports. At the AI LEAP forum in Bangkok, OpenAI’s Jason Kwon and KBTG’s Ruangroj Poonpol highlighted how Thais are integrating AI into business and daily life, marking strong readiness for the AI era.
Alibaba ($BABA) is strengthening its presence in Thailand’s digital economy, signaling growth opportunities in Southeast Asia. However, its $433.5M Ant Group deal remains unresolved, leaving questions about regulatory approval and future strategies. The move reflects Alibaba’s dual pursuit of regional expansion and global fintech stability.
A small Chinese startup, U Power, is aiming to revolutionize the global EV taxi market with its battery-swapping technology. Starting in Hong Kong, the company plans to expand worldwide, promising faster charging times and lower operational costs, potentially transforming urban transportation and accelerating EV adoption globally.
Bangkok-based Spacely AI has secured $1 million in seed funding, led by PropTech Farm Fund III. The startup leverages artificial intelligence to transform property management and real estate solutions. The funding will accelerate product development, expand market reach, and strengthen Spacely AI’s role in driving innovation within Thailand’s proptech sector.
