Sea Limited Announces Fintech Spin-off and Transition to AI Cloud Company
SE Sea Ltd ADR
$75.69 -2.89%
View chart & analysis → - 1Sea Limited CEO Forrest Lee announced the listing of fintech unit Monee and a transition to an AI-oriented cloud computing company.
- 2Monee recorded a 58.9% revenue growth rate last quarter and an adjusted EBITDA of $288 million.
- 3Space Exploration Technologies CEO Elon Musk mentioned that SpaceX is generating massive revenue from AI cloud spending.
So what's the key point?
Sea Limited said it will take its financial services division public and transform into an artificial intelligence-focused company. The company is preparing for this change after recording a 58.9 percent revenue growth rate in its financial division.
Source The Motley Fool +1 · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.