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Enterprise Singapore (EnterpriseSG) said the US drive to lead in AI is creating opportunities for supporting firms, including suppliers.<\/p>\n
Ms Lim Seow Hui, director for the Americas at EnterpriseSG, said AI has become a strategic priority for the US government.<\/p>\n
According to data from private investment tracking platform Crunchbase, AI companies like OpenAI and Anthropic shattered fundraising records in the first quarter of the year with a US$297 billion haul.<\/p>\n
\u201cAI development is going to grow big in the US,\u201d said Ms Lim. \u201cIn order to do that, capital will be required, whether it’s from the private sector or from the government.<\/p>\n
\u201cTherefore the investments into companies that are in the area of AI in the US will continue to grow.\u201d<\/p>\n
Other Singapore firms are also looking to ride the wave.<\/p>\n
For some, breaking into the US market could provide long-term stability as they transition from mature semiconductor segments to more advanced technologies like AI.<\/p>\n
NexGen Wafer Systems, which develops machines used to build chip circuits, is expanding its US presence to engage directly with major industry players.<\/p>\n
Mr Cheung Ting Kwan, CEO of the semiconductor equipment firm, said the move will help the company secure repeat business while reaching new customers like Intel, who handle the entire supply chain from designing and manufacturing to selling.<\/p>\n
\u201cWe have to show them our capability,\u201d he added.<\/p>\n
\u201cWe exchange roadmaps and ideas, know what their pain points are, what they require on the technology front, and to prove that in the next one to two years, that we are a very viable option for them \u2013 as a matter of fact, a top option for them.\u201d
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