Indonesia appears eager not to miss the global artificial intelligence (AI) wave. Through the Sahabat AI initiative, developed in collaboration with GoTo and Indosat and backed by the government, the country has introduced an ambitious project: building a domestic large language model (LLM) as a symbol of digital sovereignty.

Shares of GOTO Gojek Tokopedia (GOTO) surged 8.2% to Rp66 on Tuesday (Jun 10) on speculations about possible investment by sovereign wealth fund Danantara ahead of a planned acquisition by Grab. Is it one of eight (lucky number of President Prabowo) priorities set by the sovereign wealth fund?

Indonesia is once again becoming a battleground for digital infrastructure. With Elon Musk’s Starlink expanding satellite internet across remote islands, Meta and Google planning seven undersea cables, and Komdigi preparing auctions for critical radio spectrum bands, the country sits at a pivotal crossroads. Each development promises greater connectivity and inclusivity—but they also raise urgent questions about digital sovereignty, equitable regulation, and the country’s capacity to steer its own digital destiny.

One economist/analyst from state bank Mandiri concluded in his article published by the Jakarta Post this morning that extended holidays after Lebaran festivities would boost household spending. Time will tell, but data from two automotive business associations suggested further slowdown of the economy.

Peer-to-peer lending platform (P2P lender), Investree, was ambitious to help strengthen the Indonesian economy by providing financial assistance to SMEs, especially those affected by COVID-19. This ambition is what makes them get a series of funding even in the midst of a pandemic. However, the impact of COVID-19 lasted longer than the prediction and the condition of the company was also affected although not completely. Throughout 2023, there were two lawsuits filed against the company and entering the third month of 2024, three lawsuits have been filed and the lawsuits and similar lawsuits against the company are growing in number. Too bad, nothing seems to be improving that the company’s license was finally revoked in October 2024. Within two years, there were 17 tort and default lawsuits filed to the South Jakarta District Court against Investree while its CEO is currently on the run.

If Kimia Farma (KAEF) is not bad enough, then try looking at Indofarma (INAF), another state pharmaceutical company. In the first three months of 2025 alone, the company already slashed 302 workers or around 38% of its total employees due to downfall of its business.

PT DCI Indonesia Tbk (DCII) has long been praised as the pioneer of Tier-IV data centers in Southeast Asia. It is unbelievable, that a company with net profit of less than US$50 million is worth US$27 billion. Even when DCII posted return on equity (ROE) of 26.5% last year, it is difficult to justify the price-to-book value (PBV) nearly 150x.

Back in February 2023, state pharmaceutical firm PT Kimia Farma Tbk (KAEF) signed an investment agreement with Indonesia Investment Authority/INA (which has now part of sovereign wealth fund Danantara) and China-based Silk Road Fund (SRF) to boost retail subsidiary PT Kimia Farma Apotek (KFA). 

As Indonesia’s creative economy grows increasingly dependent on digital platforms, Spotify has emerged as a critical gateway for local musicians. It has enabled composers and performers to reach global audiences without needing backing from major labels. For independent artists, Spotify offers both visibility and a revenue stream.