In Taiwan, Artificial-Intelligence Fundraising Survives Market Maelstrom

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(Bloomberg) -- A new convertible bond offering by a major supplier to Apple Inc. will add to the dollar funds raised by Taiwan’s tech firms this year, thanks...

-- A new convertible bond offering by a major supplier to Apple Inc. will add to the dollar funds raised by Taiwan’s tech firms this year, thanks to the hybrid securities’ popularity and demand for artificial intelligence investments.Gottheimer Calls for Rail Riders to Be Reimbursed for Delays

The buyers of the recent share sales include sovereign wealth funds and long-only funds that seek exposure to AI but historically haven’t invested in such firms, said Citigroup’s Chan.Taiwan’s tech firms have been big beneficiaries of the AI frenzy. Chip giant Taiwan Semiconductor Manufacturing Co.’s US-listed shares have jumped 66% this year, while Quanta’s Taipei-listed stock is up about 20%.

While the recent pullback in AI-related stocks around the world may slow fundraising in the near term, more additional share sales by Taiwanese companies are likely on tap for the next 12 to 18 months, said UBS’ Chau. WELLINGTON, New Zealand — People in Kiribati went to the polls on Wednesday for the first round of voting in a national election expected to serve as a referendum on rising living costs and the government’s stronger ties with China.

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