Sea Ltd and Google Launch AI Shopping Prototype, Garena Game Tools; Hidden Lake Buys $13.8M Upstart
Sea Ltd and Google announced a strategic AI partnership to develop an agentic shopping prototype on Shopee and AI-driven game development tools for Garena. Hidden Lake Asset Management purchased 316,586 Upstart shares worth $13.84 million, making Upstart its fifth-largest holding at 3.5% of AUM.
1. AI Partnership with Google
Sea Ltd has entered a strategic alliance with Google to build an AI agentic shopping prototype on its Shopee platform and to apply AI solutions in Garena's game development workflow. Shopee held a 52% market share in Southeast Asia in 2024, highlighting potential for these AI tools to enhance user engagement and monetization.
2. Hidden Lake's Upstart Acquisition
Hidden Lake Asset Management purchased 316,586 Upstart shares for $13.84 million on February 17, making Upstart its fifth-largest holding at 3.5% of assets under management. The investment follows a 61.2% share decline over the past year, signaling confidence in Upstart’s AI-driven credit assessment platform.