Energy & Technology

Beijing-based artificial intelligence start-up Moonshot AI has unveiled Kimi K2, its latest open-source AI model, as part of a strategic push to strengthen its position in the increasingly competitive AI development landscape. The launch is aimed at reinforcing Moonshot’s edge over domestic competitors such as DeepSeek and aligning with the growing industry shift toward open-source AI innovation. Kimi K2, built on a mixture-of-experts (MoE) architecture, incorporates a staggering 1 trillion total parameters, with 32 billion activated parameters deployed dynamically based on the task at hand. The MoE framework allows for individual subnetworks – or “experts” – to focus on specific data subsets, a technique that reduces pre-training computation costs while accelerating inference performance. Moonshot has released two distinct open-source versions of Kimi K2. The foundation model, Kimi-K2-Base, is tailored for researchers and developers requiring full control for fine-tuning and bespoke AI applications. Kimi-K2-Instruct, by contrast, has been post-trained for seamless integration into general-purpose chat and autonomous agentic AI systems. Both versions are now available via Moonshot’s web and mobile platforms. The model’s release underscores a broader move within the Chinese AI sector to embrace open-source development. This approach has been rapidly adopted by peers including Zhipu AI, MiniMax, and Stepfun, as well as tech giants such as Alibaba Cloud and Baidu. Open-sourcing AI models not only enhances development efficiency but also broadens access and encourages adoption within both commercial and academic circles. Alibaba Cloud’s Qwen family of AI models has emerged as a global leader in the open-source space. According to a February report from Hugging Face, Qwen powers more of the top 10 open-source large language models (LLMs) worldwide than any other group, surpassing Meta Platforms’ Llama in terms of ecosystem scale. Moonshot’s Kimi K2 arrives in the wake of DeepSeek’s widely noted release of its open-source V3 and R1 models, which demonstrated high performance at significantly lower costs and hardware requirements compared to traditional LLM projects. With Alibaba among its major backers, Moonshot is now positioned to attract increased global attention. According to Moonshot, Kimi K2 demonstrates “advanced agentic intelligence”, enabling it to execute complex, tool-based workflows autonomously. Examples include producing detailed, interactive salary analyses complete with statistical visualisations and web interface generation. The model can also perform dynamic planning tasks, such as organising a travel itinerary to a London Coldplay concert, by interacting across multiple platforms including Gmail, Airbnb, search engines, and online booking systems. Moonshot is also planning to introduce advanced model context protocol capabilities, an open standard that allows AI systems to access and utilise external tools and services more effectively. The company’s API – which is compatible with OpenAI and Anthropic interfaces – is currently priced at 4 yuan (approximately USD 0.56) per million input tokens and 16 yuan per million output tokens. Shortly after Kimi K2’s launch, OpenAI CEO Sam Altman announced a delay in the release of OpenAI’s own forthcoming open-source model, originally expected the following week, citing the need for additional safety testing. -SCMP

Oracle Corporation is proceeding with plans to expand its cloud infrastructure footprint in Southeast Asia through a strategic partnership with DayOne Data Centers Singapore Pte Ltd, according to individuals familiar with the matter. The initiative marks the establishment of Oracle’s first cloud services centre in Indonesia and strengthens its collaboration with a regional operator whose largest client is ByteDance Ltd, the parent company of TikTok. The Texas-headquartered technology company is set to lease data centre facilities operated by DayOne at Nongsa Digital Park, located on the Indonesian island of Batam. Sources indicate Oracle will become the exclusive tenant of specific plots within the park, with the capacity to support infrastructure totalling at least 120 megawatts of power. A data centre of this scale typically entails capital expenditure of no less than US$1.2 billion, depending on factors such as site location, build specifications and whether it is configured for hyperscale AI workloads. This development corroborates an earlier Bloomberg News report detailing Oracle’s interest in launching a cloud hub in Indonesia. Oracle declined to comment on the matter when approached. DayOne, the international division of China-based GDS Holdings Ltd, also did not respond to enquiries. Research by SemiAnalysis identifies ByteDance as DayOne’s largest customer by a significant margin, with Oracle ranking as its second most prominent client. Located in a free-trade zone and positioned strategically close to both Malaysia and Singapore, Nongsa Digital Park has emerged as a growing data centre hub. Its appeal has been further amplified by regional demand for cloud and AI services. Oracle already operates two cloud regions in Singapore and, in 2023, announced a US$6.5 billion investment to develop similar capabilities in Malaysia. The move comes as major US technology companies, including Meta Platforms Inc and Google, increase their investment across Asia to support the anticipated surge in artificial intelligence-driven services. Much of this capital is being directed to markets such as Malaysia and Singapore, which benefit from mature digital infrastructure and favourable investment climates. Salesforce Inc, for instance, recently unveiled a US$1 billion investment in Singapore. According to Bain & Company, the global market for AI-related technologies is projected to reach US$990 billion by 2027, underscoring the transformative potential of AI across industries and geographies. Oracle is also a key infrastructure partner in OpenAI’s Stargate project, which aims to invest up to US$500 billion in AI-related data centre infrastructure both in the United States and internationally. This includes Oracle’s provision of significant compute capacity for OpenAI’s next-generation models. -Bloomberg

Nearly 60% of retail payment transactions in the Philippines were conducted through digital channels in 2024, according to the Bangko Sentral ng Pilipinas (BSP), marking a significant milestone in the country’s transition to a cash-lite economy. The shift has not only exceeded government targets but also signalled broadening public trust in digital financial services. Official data from the BSP revealed that digital payments accounted for 57.4% of total retail transaction volumes last year, rising 4.6 percentage points from the 2023 level of 52.8%. This outperformed the national target of converting between 52% and 54% of retail transactions to digital by 2024. In terms of transaction value, digital payments reached US$136 billion monthly on average, comprising 59% of the country’s total retail payment value. BSP Governor Eli Remolona Jr attributed the continued growth to an increasing adoption of interoperable payment systems, mobile banking platforms and e-wallets, which have expanded access to financial services. “These figures reflect the continued shift towards digital channels and the growing trust of Filipinos in using digital financial services,” Remolona commented. “We continue to promote enabling technologies that serve as bridges to greater financial inclusion.” Data from the Bank of International Settlements supports the broader economic impact of such a shift, suggesting that a one percentage point increase in digital payment usage correlates with a 0.10 percentage point rise in GDP per capita and a 0.06 percentage point reduction in informal employment. The BSP’s report highlighted that 97.2% of government transactions were executed digitally, representing the most cash-lite segment among the central bank’s three primary use-cases. Nearly all payments related to government activities—including capital transfers, procurement, payroll and social welfare disbursements—were processed electronically. Among individual users, the share of digital payments climbed to 72.2%, accompanied by a decline in the use of cash. The most notable driver of growth in digital retail payments continued to be transactions between businesses and consumers, with 66.4% of merchant payments processed electronically. Person-to-person electronic fund transfers also expanded their share, contributing 20.6% of total digital transaction volume, up from 19.3% in 2023. Meanwhile, business-to-business transactions represented 6.2% of digital volumes, reflecting what the central bank described as modest growth. BSP Deputy Governor Mamerto Tangonan reaffirmed the institution’s commitment to maintaining consumer protection and systemic stability as the payments landscape evolves. He stressed that the regulator’s approach to innovation would remain vigilant and adaptive. “Even as we pursue this goal, we are cognisant of the risks,” said Tangonan, who leads the central bank’s payments and currency management sector. “Safety in payments, whether digital, physical or cross-border, is non-negotiable. We are committed to having a regulatory environment that is vigilant, agile and informed—one that works alongside innovation, not to stifle it, but to guide its responsible use.” The BSP’s next milestone is to digitise between 60% and 70% of retail payments by 2028.

SP Mobility, a subsidiary of SP Group, and Huawei are set to introduce Singapore’s fastest public electric vehicle (EV) charger at Temasek Polytechnic, with deployment scheduled for the fourth quarter of 2025. The ultra-fast charger, boasting a maximum power output of 480kW, is capable of delivering over 200km of driving range in just five minutes. It will be equipped with at least four charging points and will incorporate an integrated energy storage system to ease reliance on grid power during peak periods. Huawei’s proprietary liquid-cooling technology underpins the solution, offering advanced thermal management to ensure consistent performance, enhanced safety, and energy efficiency with minimal maintenance requirements. This rollout follows a memorandum of understanding (MoU) signed between Huawei and SP Mobility, aimed at co-developing and expanding high-powered charging infrastructure across the island. Both parties will also collaborate on a technical level to accelerate the development and implementation of fast and ultra-fast charging systems. The deployment comes amid a surge in EV adoption in Singapore. According to the Land Transport Authority (LTA), electric vehicles accounted for 40% of all new car sales in the first quarter of 2025 — a record high that underscores the urgent demand for rapid and accessible charging infrastructure. Beyond addressing the needs of passenger EVs, the initiative will also cater to commercial vehicle segments such as logistics fleets and private buses, which typically require higher charging capacity due to extended operational hours and greater travel distances. SP Mobility is additionally working with Goldbell Group to provide tailored charging solutions for heavy vehicle and logistics operators. Dean Cher, Managing Director for Mobility at SP Group, commented: “SP Mobility is focused on enabling faster, reliable and more rewarding charging experiences, especially for fleet and commercial users. By partnering with Huawei, we look forward to collaborating on other cutting-edge EV charging technology and scaling up ultra-fast charging deployments to support the electrification of heavy vehicle segments.” Maxi Wang, Chief Executive Officer of Huawei International, said: “Huawei is delighted to partner with SP Mobility to support Singapore’s journey towards carbon neutrality. Designed to meet fleet operators’ demands, Huawei’s ultra-fast chargers are highly reliable, efficient, and easily scalable to accommodate future needs. We remain dedicated to providing cutting-edge technology and services, empowering our local partners to create commercial value, accelerate sustainable development, and contribute to a greener, cleaner Singapore in line with the nation’s 2040 EV vision.” The Temasek Polytechnic deployment is the first to be launched under Huawei’s broader collaboration with EV-Electric (EVe) Charging, a Land Transport Authority subsidiary. This initiative supports the national agenda to expand the EV charging network significantly. Huawei first partnered with EVe in 2024 to help develop the country’s largest public EV charging network. -The Edge

Singtel and Lendlease have officially commenced construction on the redevelopment of Singtel’s Comcentre, a landmark project that is poised to become Singapore’s first AI-enabled, 5G+ connected building. Scheduled for completion in 2028, the $3 billion development will feature more than 110,000 square metres of gross floor area distributed across two 20-storey Grade A office towers. In addition to state-of-the-art workspaces, the Comcentre will offer 20,000 square metres of retail and lifestyle amenities, including Singtel’s new flagship store, food and beverage outlets, medical suites, a gym, and an auditorium. It will also house the largest elevated urban park in central Singapore. The redevelopment is set to be a pioneering example of digital infrastructure. Powered by Singtel’s dedicated 5G+ connectivity through network slicing technology, the building will support seamless integration of artificial intelligence, IoT sensors, and building systems. These capabilities are designed to enable predictive operations, resource optimisation, and enhanced security for tenants. Smart infrastructure throughout the building will adapt dynamically to environmental conditions, while digitally-enabled spaces will support the evolving needs of work and retail. Speaking at the groundbreaking ceremony, Singtel Group CEO Yuen Kuan Moon stated that the new Comcentre represents a showcase for how “advanced connectivity, data and intelligent systems can transform the way people work, live and engage with their environment.” Carbon-Neutral Development and Triple Sustainability Certifications The Comcentre is designed to be carbon-neutral across its lifecycle—from planning and construction to full operational capability—leveraging cutting-edge digital and smart building technologies. Once completed, it is expected to be the first development in Singapore and Asia to achieve a ‘Triple Certification.’ Targets include the International Living Future Institute’s Zero Carbon certification, the WELL v2 Core Platinum Certification from the International WELL Building Institute, and the distinction of being Singapore’s first Green Mark Platinum (Zero Energy) high-rise commercial building, under the Building and Construction Authority’s (BCA) sustainability framework. The project will meet all five of BCA’s sustainability badges. The building is projected to deliver 70% energy savings compared to the Green Mark 2005 baseline. This translates to a reduction of approximately 12 million kWh annually—enough to power over 3,750 three-room HDB flats. Lendlease Group CEO and Managing Director Tony Lombardo described the Comcentre as “a world-class asset” that “sets a new benchmark for sustainable and connected living in Singapore and beyond.” Sustainability efforts include the installation of 1,000 kWp of on-site renewable energy through rooftop and building-integrated photovoltaic panels. A high-efficiency dual-temperature chiller plant will be supported by a hybrid cooling system that incorporates Active Chilled Beam and Variable Air Volume technology, enhancing energy efficiency. Additional features will comprise a low heat gain façade with high-performing glazing, smart lighting systems equipped with daylight and occupancy sensors, and high-efficiency lifts with regenerative drive technology. The building will also support electric vehicle (EV) adoption with infrastructure enabling up to 30% of parking lots to accommodate EV charging. Water conservation is another key focus. The development aims to reduce potable water usage by 69%—equivalent to 25 Olympic-sized swimming pools—through initiatives such as rainwater harvesting, NEWater for flushing, and intelligent water monitoring systems. Innovative Construction and Collaborative Contracting Model The project will deploy a digital-first construction approach, utilising 19 Integrated Digital Delivery (IDD) use cases. These include digital design verification, virtual coordination, real-time asset monitoring, and digital operations to enhance precision, reduce rework, and drive construction efficiencies. Advanced building methods are expected to reduce on-site labour by up to 30% and shorten delivery timelines by as much as 20%, according to a joint statement by Singtel and Lendlease. Minister for National Development Chee Hong Tat, who attended the ceremony, noted that the Comcentre also serves as a forerunner in construction contracting. The project employs an open-book payment model with gain-share and a Guaranteed Maximum Price, a significant departure from conventional lump sum contracting. This approach, rarely seen in Singapore’s private sector, incentivises collaboration and continuous innovation by allowing cost savings to be shared between developer and builder. Minister Chee described the Comcentre as “a model of how sustainability, technology and collaboration can come together to redefine and transform our built environment for future generations.” As of 12pm, shares in Singtel were trading six cents higher, or 1.54% up, at $3.96. -The Edge