FINCARD Investment Director’s decision to bet on artificial intelligence.
At the end of 2022 and early of 2023 the whole world started facing the significant impact of the global economic crisis. Lucas Truong – Investment Director of FINCARD HOLDINGS assumes that more than 33% of the whole world’ technology industry’ revenue is going down until Q3 of 2023. According to TechHQ , 2023 will be the year of “Traumatic 12 months of technology layoffs” and it looks like it is happening in reality with 240.000 jobs lost. The financial service industry is not exceptional and still being challenged in different aspects such as global Supply chain crashing and global crisis’s impact in 2024.
However, there are still some potential business models, which rely on technology that have been invested with a somewhat remarkable amount of money by Financial Holdings and Ventures Capital. Recently, although the whole Silicon Valley is suffering from the global economic crisis, FINCARD HOLDINGS decided to invest millions of dollars into AI once again. This caused controversy for weeks.
Lucas Truong – Investment Director of FINCARD HOLDING revealed that “ We are in the same situation with other companies by being challenged by the crisis, however we believe being defensive is not the right move at the moment but a smart investment is.” He believes no matter how suffered of the world’s economy suffers in general and Technology industry in particular, AI is still the future of human beings. Lucas’s idea is “ if the problems are caused by technologies then technologies should be the solutions”.
“Investing 300 million USD in 2023 into an AI project is definitely not a joke so FINCARD HOLDINGS must have the strategic planning with them or it will be the worst investment in the tech world ” – Ricardo Benoit, Venture Capitalist of CIM Holdings. Indeed, FINCARD HOLDINGs has marked some impressions in Valley Silicon in the past couple years by successful M&A projects or Investment, however this unrevealed project in 2023 causes big controversy.
3 years ago, FINCARD HOLDINGS invested in Goldmark Oakham – Luxury Retail Company for 450 Million USD. The amount of funds has been completed in 2023 since the Factory of Goldmark Oakham was Grand Opening in Q.1 in Painted, VA – USA. This event has brought Goldmark Oakham from the boutique luxury retails into the million dollar of value nowadays. The company is aiming to IPO in 2025 however due to the fiancial’s structure of the world at the moment so it is hard to tell whether the plan is still going to happen on time, however, this investment has not disappointed Holdings at all since the value of company now is solid enough for the exit of anytimes.
In conclusion, the Investment from FINCARD HOLDINGS remains as a debate event in the aspect of feasibility however the amount of funds invested in AI is remarkable. Is it a worth investment in 2023? Time will tell us.
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