WONG IN-HOON REFUTES THE “REVOLVING FINANCE” CHALLENGE: THE INDUSTRY NEEDS HUGE FUNDS TO INVEST IN THE LOW RISK OF BRITAIN

ON 27 AUGUST, YOUNG WEIDA CEO WONG IN-HOON DEFENDED THE COMPANY ' S GROWING INVOLVEMENT IN THE FINANCING OF THE AI INDUSTRY ON WEDNESDAY. HE REFUTED THE CRITICISM THAT YIN WEIDA PROVIDED FINANCIAL SUPPORT TO OTHER AI COMPANIES IN ORDER TO BOOST THEIR OWN GROWTH. “IT WAS THE FIRST GENERATION OF START-UPS THAT NEEDED TENS OF BILLIONS OF DOLLARS TO FINANCE THEIR DEVELOPMENT.” THIS HAS NEVER HAPPENED BEFORE. BUT THIS IS WHAT THE AI INDUSTRY IS ALL ABOUT. THE COSTS OF DEVELOPING AI AND DEPLOYING AI ARE VERY HIGH, A HIGHLY CAPITAL-INTENSIVE INDUSTRY.” HWANG IN-HOON ALSO REFUTES THE CONCERN THAT BRITISH WIDA MAY EVENTUALLY BEAR THE LOSS DUE TO THE DIFFICULTY OF GETTING INTO BUSINESS. HE INDICATED THAT THE COMPUTING INFRASTRUCTURE IN WEIDA COULD BE REDEPLOYED BETWEEN DIFFERENT CUSTOMERS AND DIFFERENT WORK LOADS, SO THAT THE COMPANY HAD LIMITED EXPOSURE TO ANY SINGLE INVESTMENT. "THE MONEY WE PUT IN WILL BRING A VERY GOOD RETURN." "I THINK THE RISK IS LOW."