Big investment planned for US, after Intel wins nearly $20 billion in loans and funding from Biden Administration
TECHNOLOGY POWERING BUSINESS
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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
ARM Shares Soar 25 Percent After Nasdaq Listing
Successful public listing for ARM Holdings in the US after its shares rise 25 percent above Nasdaq debut price
ARM Holdings IPO Values Firm At £43.6 Billion
Ahead of its shares listing on Thursday, British chip designer ARM Holdings secures a market value of $54.5bn (£43.6bn)
ARM Signs Up Major Tech Firm Investors, Prices IPO
Apple, Alphabet, Intel, Samsung etc sign up as investors in ARM's upcoming IPO, as management lowers listing valuation
Instacart Reports Revenue Surge Ahead Of IPO
US grocery delivery firm Instacart reports 31 percent revenue surge ahead of delayed offering, as investors look for IPO recovery
ARM ‘Saw Annual Revenue Decline’ Ahead Of IPO
UK-based chip designer ARM reportedly saw 1 percent annual revenue decline due to smartphone slump as it prepares bellwether IPO
SoftBank Acquires Vision Fund ARM Stake At $64bn Valuation
Japan's SoftBank acquires 25 percent ARM stake from its Vision Fund unit in deal that values UK chip designer at $64bn, ahead of planned IPO
Silicon UK Pulse: Your Tech News Update: Episode 14
Welcome to Silicon UK Pulse – your roundup of the latest tech news and developments impacting your business for the week ending 18/08/2023.
UK Launches £1 Billion FinTech Fund
FinTech Growth Fund, backed by Mastercard, Barclays and the London Stock Exchange, aims to fund financial technology companies before listing
Vietnam’s VinFast Car Maker Overtakes GM, Ford After IPO
Shares in VinFast surge 270 percent after IPO, valuing Vietnam’s car manufacturer ahead of Ford and General Motors