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SINGAPORE, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Davis Commodities Limited (NASDAQ: DTCK), a global leader in commodities and logistics, and Kohai, an innovative gaming and eSports organization, today announced the signing of a Memorandum of Understanding (MOU) to jointly invest in Kinetic AI, a company that develops enterprise solutions using artificial intelligence (AI).
Empowering Businesses with Innovative AI Solutions
The global AI market is forecasted to surpass $1 trillion by 2030, showcasing the immense growth potential within the artificial intelligence sector. At the forefront of this transformative industry is Kinetic AI, a pioneering company specializing in crafting cutting-edge artificial intelligence solutions. Leveraging Tencent's open-source AI language model and a range of advanced AI technologies, Kinetic AI is dedicated to developing innovative solutions tailored for a multitude of applications, ranging from sophisticated enterprise data analytics to immersive digital engagement experiences.
Kinetic AI's unique approach lies in its commitment to providing customizable and scalable platforms that empower businesses of all scales to harness the power of AI effectively. By offering tailored solutions, Kinetic AI enables organizations to unlock the full potential of artificial intelligence, ultimately leading to the creation of impactful, user-centric solutions that drive innovation and enhance overall business performance. Davis Commodities Limited and Kohai plan to invest an initial capital of $2 million in Kinetic AI as cornerstone investors.
CEO Statement:
Ms Li Peng Leck, Executive Chairwoman and Executive Director of Davis Commodities Limited, commented: “Kinetic AI’s scalable, intuitive approach perfectly aligns with our pursuit of next-level innovation. We believe that Kinetic AI has significant potential for investment value growth in the future, making it a strategic investment for us. Davis Commodities will also provide various operational data to Kinetic AI for product development and AI model training in the future. We will ensure appropriate privacy protection in data processing. In return, Kinetic AI will offer us suggestions for operational optimization and cost savings that may increase our revenue and earnings in the future.”
Kohai Take an Important Role in Collaboration
Kohai is a pioneering gaming and eSports organization with its headquarters in Kuala Lumpur and operations extending into Indonesia.It is committed to pushing the boundaries of digital entertainment through large-scale events, community-centric platforms, and advanced technology. The company expects revenue and user compound annual growth rates (CAGR) to reach 519% and 389% respectively from 2022 to 2025. The Kohai team possesses deep expertise in information technology and AI research and development. In addition to investment, they will also be involved in the research and development of Kinetic AI products. They will likewise provide user and operational data to assist Kinetic AI in AI model development and solution building.