US to triple domestic chipmaking capacity and control 30 percent of advanced chips by 2032 after Chips Act subsidy boost
TECHNOLOGY POWERING BUSINESS
News Fund raising
SoftBank-Owned ARM To Develop AI Chips
SoftBank-owned UK chip design firm ARM Holdings to develop AI accelerator chips for data centres amidst investment boom
Shares In Chinese EV Firm Zeekr Soar On Debut
EV maker Zeekr, controlled by car giant Geely, valued at nearly $7bn as investors heartened by surging sales
Microsoft Announces Big Investments In Malaysia, Indonesia, Thailand
Microsoft's AI investments continue in south east Asia, after investments in Japan, Malaysia, Indonesia, as well as Thailand
Oracle To Invest More Than $8 Billion In Cloud, AI In Japan
Oracle's huge AI, Cloud investment in Japan will meet growing local demand and address digital sovereignty requirements
Trump Media Shares Buckle Over Secondary Offering Plans
Shares in Donald Trump's social media company Trump Media plummet on Monday after company announces plans to issue millions more shares
The Netherlands To Spend Billions To Retain ASML Operations
Dutch government will spend 2.5 billion euros ($2.7 billion) to improve infrastructure in Eindhoven, to ensure ASML doesn't move abroad
Amazon Pumps Another $2.75 Billion Into Anthropic
Amazon completes its $4bn investment into AI firm Anthropic, after providing an additional $2.75bn in funding
Trump’s Truth Social Moves Closer To $5bn Merger
Donald Trump social media firm Truth Social moves step closer to public offering via acquisition by shell company as investors approve deal
Intel To Spend $100bn In US, After Biden’s $20bn Award
Big investment planned for US, after Intel wins nearly $20 billion in loans and funding from Biden Administration
UK Joins EU’s Chip Research Program
UK joins European Union's chip funding research scheme, pledging £35 million for EU's 'Chips Joint Undertaking'
Telegram Reaches 900m Users, Nears Profitability
Encrypted messaging app Telegram reaches 900 million users, nears profitability as secretive company considers IPO
Reddit Seeks Valuation Up To $6.4bn In NYSE Listing
Social media platform Reddit seeks valuation of up to $6.4 billion in NYSE listing, as users express concern about investor scrutiny
Elon Musk Will Not Fund Candidates After Meeting Donald Trump
SpaceX CEO Elon Musk says he will not fund Joe Biden or Donald Trump in US Presidential election, after Trump meeting
Reddit Looks For $6.5bn Valuation In NYSE IPO
Social media platform Reddit looks for $6.5bn IPO valuation, significantly down from $10bn value in 2021 private funding funding round
Microsoft Investment In Mistral AI Prompts EU Scrutiny Calls
European lawmakers call for investigation after Microsoft this week made small investment in French startup Mistral AI
Microsoft To Invest €3.2 billion In Germany, Mirroring UK Investment
Microsoft confirms it will invest 3.2 billion euros in Germany for AI and data centres, in welcome move amid a slumping economy
OpenAI’s Sam Altman Seeks Trillions To Overhaul Chip Industry – Report
Sam Altman reportedly seeking between $5 and $7 trillion to overhaul semiconductor industry to remove AI chip limitations
UK Government To Fund Two Semiconductor Research Hubs
Government to fund semiconductor research hubs in Bristol and Southampton, to help bring new chip tech to market
UK EV Maker Arrival Collapses Into Administration
British electric vehicle start-up Arrival enters administration three years after being valued at $15bn, with 170 jobs at risk
Crypto Firm HashKey Attains Unicorn Status With $100m Funding Round
Hong Kong-based crypto firm HashKey Group attains valuation greater than $1bn after $100m funding round, in sign of digital asset optimism
Intel Spins Out AI Firm Articul8, With DigitalBridge Backing
AI software developed at Intel is being spun off into independent firm Articul8 AI, with investment firm backing
Israel Agrees $3.2bn Grant For Intel $25 Billion Chip Factory
Intel to make its largest ever single investment in Israel, with a $25 billion chip-making factory in the south of the country
Hyperloop One To Close Down – Report
Futuristic travel experiment Hyperloop One to cease operations, as assets sold off and remaining staff made redundant
Elon Musk’s xAI Seeks To Raise $1 Billion In Equity
AI startup xAI, founded by one of the richest men in the world Elon Musk, seeks to raise up to $1 billion in equity offering
Autumn Statement 2023: Tech Implications
Chancellor's Autumn statement for the tech industry focused on AI, quantum computing, R&D tax credits, and more
OpenAI’s Altman Courted Investors For AI Chip, Device
In weeks before his shock ouster from OpenAI Altman was reportedly looking to raise billions for an AI chip start-up and an AI-focused device
Amazon Creates Team For ‘Olympus’ AI Model – Report
More AI moves by Amazon, amid report of hefty funding for development of large language model (LLM) to rival ChatGPT
WeWork Files For Bankruptcy Protection In US
WeWork, once valued privately at $47bn and seen as future of workplace, files for bankruptcy in US amidst heavy losses
Chinese AI Start-Up Achieves $1bn Valuation In Eight Months
Beijing-based AI start-up 01.AI, founded by computer scientist Kai-Fu Lee, valued at more than $1bn less than eight months after founding