Australia’s AI firm Appen mulls selling part or whole of business ...Middle East

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Nov 21 (Reuters) – Australia’s AI firm Appen (APX.AX) said Tuesday it is mulling the sale of a part or whole of its business. The machine learning and data solutions provider said that it has received no proposals for a deal so far but is open to engage with potential counterparties. Appen, which was one of the world’s largest AI training providers, has implemented a raft of cost-saving initiatives and has seen its executive team being entirely replaced over the last two years. The company on Tuesday announced an equity raise of A$30-million ($19.52 million), aimed at boosting its working capital. It also announced an additional $14 million of cost reduction, boosting its cost-saving initi

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