Futuristic travel experiment Hyperloop One to cease operations, as assets sold off and remaining staff made redundant
TECHNOLOGY POWERING BUSINESS
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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
President Biden Executive Order Targets Tech Investments In China
Tech crackdown against Beijing continues after President Biden signs executive order to prohibit certain tech investments in China
Apple, Amazon In Talks To Invest In ARM – Report
Amazon and Apple reportedly in talks with British chip designer ARM Holdings to be 'anchor investors' before September IPO
ARM Targets $60 Billion Valuation For IPO
Owner Softbank seeks valuation of $60 to $70 billion for September IPO of British chip designer ARM Holdings
Tech Investors Flee China As Political Tensions Worsen
Private capital fundraising in Asia-Pacific on track for 10-year low as VC funding in China drops nearly 55 percent, report finds
AMD To Invest $400m In India Over Five Years
US chipmaker AMD confirms big investment in India, plus construction of largest design centre, as New Delhi continues charm offensive
Nvidia In Talks To Be Anchor Investor In ARM – Report
GPU powerhouse reportedly in talks with British chip designer ARM, ahead of its September floatation in New York
Anthropic Opens Rival AI Chatbot To Public
Challenge to OpenAI's ChatGPT and Google Bard, after Anthropic debuts Claude 2 AI chatbot, and opens it to public
Foxconn Abandons Indian Chip Joint Venture, Seeks New Project
Blow to India? Taiwan's Foxconn abandons $19.5 billion chipmaking joint venture with Vedanta, but seeks local incentives for new project
Microsoft-Backed Chatbot Maker Inflection AI Raises $1.3bn
Nvidia, Bill Gates, Eric Schmidt in round that values Inflection at $4bn as year-old start-up seeks to outpace OpenAI
Elon Musk Touts Significant India Investment By Tesla
India has more promise than any other large country in the world, says Elon Musk after meeting Indian PM Modi
ARM In Talks With Potential IPO Investors – Report
Talks with potential 'anchor investors' in ARM's upcoming IPO may include Intel, Alphabet, Apple, Microsoft, TSMC, Samsung etc
EU Approves €8 Billion in State Subsidies for Tech Research
European Commission approves 8.1 billion euros ($8.7 billion) of state aid for microelectronics and communication tech projects
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'
India To Reopen Applications For $10bn Chip Incentives – Report
Bad news for China? India is to reopen application process for $10bn in incentives to build local chip factories