AI startup known as xAI from Elon Musk seeks to challenge OpenAI's ChatGPT with a 'pro-humanity' alternative offering
News Start-Up
Virgin Orbit Shuts Down After Chapter 11 Filing
Sir Richard Branson ends Virgin Orbit operations going forward, with assets being sold off to rivals in space launch sector
Sam Altman Start-Up Worldcoin ‘Close To Securing $100m’
Worldcoin, co-founded by OpenAI chief Sam Altman, close to securing $100m in new funding round amidst 'crypto winter'
Paris To Ban E-Scooters After Referendum
Paris to ban e-scooters after voter poll, but providers criticise vote in which only 4 percent of residents took part
Budget 2023: Chancellor Pledges £2.5 Billion For Quantum Computing
With UK predicted to avoid recession, spring budget by Chancellor Jeremy Hunt announces funding injections into tech sector
Failed Silicon Valley Bank UK Arm Sold To HSBC For £1
Government facilitates sale of UK operations of failed Silicon Valley Bank to HSBC as authorities work to limit fallout of biggest bank failure since 2008
China Overhauls Overseas, Domestic IPO Rules
China introduces major overhaul of rules governing IPOs on mainland and overseas exchanges, following years-long crackdown
Google ‘Invests $300m’ In AI Start-Up Anthropic
OpenAI competitors Anthropic and Cohere raising hundreds of millions as tech giants seek foothold in generative AI sector
Tech Nation To Shut Down After Government Pulls Grant
UK start-up backer Tech Nation to shut down operations after government awards critical grant to Barclays digital incubator
Microsoft Seals Multi-Billion Dollar Deal With OpenAI
Microsoft expands relationship with start-up OpenAI in multi-billion dollar deal, in major bet that AI can transform its offerings
Britishvolt Calls In Administrators, After Months Of Struggle
Despite staff at battery start-up Britishvolt in Northumberland taking a pay cut last year, the firm has now filed for administration
Maersk, IBM Discontinue Blockchain Shipping Platform
TradeLens, a blockchain platform from shipping giant Maersk and IBM is to be discontinued, to due lack of commercial viability
Amazon Launches Virtual Health Clinics In US
The doctor will see you now. E-commerce giant Amazon launches virtual doctor surgery in the US for people's common ailments
Britishvolt Secures Funding For Five Weeks
Staff at battery start-up Britishvolt in Northumberland take a pay cut, after it secures five-week funding lifeline
ByteDance Plans Share Buy-Back As IPO Stalls
Planned share buy-back values TikTok owner ByteDance at $300bn, making it one of world's most valuable start-ups, as IPO plans stall
Adobe Defends ‘Transformative’ $20bn Deal For Figma
Adobe defends 'transformative' deal to buy collaborative design start-up Figma for $20bn in record-breaking acquisition as investors balk
SoftBank Sells Off Uber Stake, Cuts Vision Fund Staff
Japan's SoftBank sells off Uber stake, plans to cut staff at flagship Vision Fund investing arm as market turmoil leads to steep quarterly losses
French Music Service Deezer Slumps On Market Debut
Spotify and Apple Music competitor Deezer falls below opening price after long-delayed IPO in Paris as SPAC strategy fails to excite investors
UK Digital Strategy Takes Aim At Cyber-Security, Skills Gap
Security expert praises new government digital strategy for much-needed focus on cyber-security and reducing skills gap as London Tech Week begins
Online Safety Bill May Pose Risk To Startups, Suggests Regulator Boss
UK's forthcoming online safety bill risks stifling start-ups, the UK tech regulator chief who will help oversee its eventual implementation
Apple Acquires UK Fintech Credit Kudos – Report
Tech giant Apple reportedly acquires British fintech start-up Credit Kudos for $150m, to perhaps bolster its financial services operation
Facebook To Close Down Diem Crypto Venture – Report
End of the road for Diem (formerly Libra) digital currency, with sale reported of Diem Association to financial institution
Amazon-Backed Rivian Enjoys Successful Nasdaq IPO
Amazon-backed electric car start-up Rivian enjoys biggest public listing in the United States since Facebook back in 2012
Texas Governor Bans Vaccine Mandates
Over 4 million cases of Covid in Texas and 66,000 thousand deaths, does not stop Texas governor from banning vaccine mandates
Freshworks Valued At $12.2 Billion After Nasdaq IPO
Business software provider Freshworks, which seeks to challenge Salesforce in the CRM space, enjoys successful Nasdaq debut
UK Government Holds Stakes In 158 Start-ups
British Business Bank which runs the Government's 'Future Fund' has provided funding of $1.1 billion and holds stakes in 158 start-ups
Amazon-Backed Electric Car Maker Rivian Files For IPO
Amazon-backed electric car start-up Rivian files for IPO, weeks ahead of delayed plans to deliver first pick-up trucks to customers
Amazon-Backed Rivian Raises Another $2.5bn From Investors
Electric vehicle start-up raises another $2.5bn from existing investors such as Amazon, as it looks to deliver first vehicles this year
Government £375m Fund For UK Tech Firm Growth
Government opens £375 million scheme to deliver funding for British startups including tech players, to bolster UK’s post-pandemic economy
SoftBank Buys Into Korean Travel Start-Up Yanolja Ahead Of US Listing
SoftBank's Vision Fund reportedly planning to buy 10 percent of South Korean hotel booking platform Yanolja as it looks to follow up Coupang success