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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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AI Pioneer Fei-Fei Li Raises $230 Million for New Start-up World Labs

Fei-Fei Li, a pioneer in artificial intelligence, has raised $230 million (RM989.5 million) for her new AI start-up, World Labs, which officially launched on Friday. The funding comes from a high-profile group of investors, signaling strong confidence in the company's vision to push the boundaries of AI technology.

World Labs aims to develop software that uses images and other data to make decisions about the three-dimensional world, creating what it calls "large world models." The funding round was led by Andreessen Horowitz, NEA, and Radical Ventures, a Canadian venture capital firm where Li serves as a scientific partner. The start-up has not disclosed its valuation.

Notable AI figures and investors have backed World Labs, including Jeff Dean, Chief Scientist of Google DeepMind, and Geoffrey Hinton, a former Google AI researcher known for advancing machine learning. Nvidia Corp's venture arm is also among the backers.

Additional individual investors include VC and actor Ashton Kutcher, Salesforce Inc CEO Marc Benioff, LinkedIn co-founder Reid Hoffman, and former Google CEO Eric Schmidt.

Based in San Francisco, World Labs initially plans to create virtual 3D spaces where users can control variables like physics, allowing people to build their own 3D "worlds." The company envisions its software as beneficial for various professionals, including artists, designers, developers, and engineers.

Li, currently on leave from her role as co-director of Stanford University's Institute for Human-Centered AI, co-founded World Labs with three other AI experts: Justin Johnson, Christoph Lassner, and Ben Mildenhall. The start-up currently has 20 employees.

In a TED talk earlier this year, Li hinted at the company's goals, stating, "If we want to advance AI beyond its current capabilities, we want more than AI that can see and talk. We want AI that can do."

Li's previous work, including her contribution to the ImageNet project—a database of over 15 million images launched in 2006—has been foundational to many of the current advancements in AI, particularly in how computers recognize objects in images.

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