The freeze is temporary, and legal proceedings for formal recognition and enforcement must begin within a month, or it will lapse.

Unlike the US, where investments have focused on AI and high valuations, Asia has seen deals spread across a wider range of tech sectors.

It is also increasing its presence in the quick commerce sector by converting grocery stores in major cities into dark stores.

SambaNova, founded in 2017 by Stanford professors, designs custom AI chips and was valued at US$5 billion in a 2021 funding round.

The H200, produced by Taiwan's TSMC, is Nvidia's second-fastest AI chip.

This follows Microsoft’s plan to invest US$17.5 billion in cloud and AI infrastructure in India over the next four years.

Galbot may seek a valuation of between US$3 billion and US$4 billion in the IPO, one source said.

World's app now includes a messenger with color-coded speech bubbles to indicate user verification status.