Days after Virgin Orbit halted operations and furloughed staff, comes a report it is close to securing emergency funding
TECHNOLOGY POWERING BUSINESS
News Fund raising
Samsung To Spend $228 Billion On South Korean Chip Plant
South Korean government announces 'world's largest' chip complex near Seoul. Samsung says it will spend $228 billion
Budget 2023: Industry Reaction To Quantum Investments etc
UK is the world's third largest tech economy, so Chancellor of the Exchequer Jeremy Hunt’s spring 'growth' budget has generated some reaction
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
Cryptocurrencies Rise After US Authorities Rescue SVB Depositors
Cryptocurrencies rise after US authorities intervene to restore confidence in banking sector following collapse of Silicon Valley Bank
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
Intel Seeks $5 Billion More In Subsidies For German Chip Plant – Report
Chip giant Intel is reportedly seeking an additional 5 billion euros in subsidies from the German government
Apple Lends Globalstar $252m To Aid Satellite-Connected iPhones
SEC filing reveals Apple is lending Globalstar $252m to cover upfront costs of replenishing its low Earth orbit (LEO) satellites
ARM Disappoints UK With Decision To List Only In New York
UK Financial Conduct Authority blamed for 'inflexibility', as ARM owner Softbank opts for US-only public listing
China Overhauls Overseas, Domestic IPO Rules
China introduces major overhaul of rules governing IPOs on mainland and overseas exchanges, following years-long crackdown
Avaya Files For Chapter 11 Protection, Again
Filing for bankruptcy protection will allow cloud comms provider Avaya to reduce its total debt burden to manageable levels
Funding Round Values China EV Maker Zeekr At $13bn
Geely electric vehicle brand Zeekr valued at $13bn following latest external funding round, as company prepares for possible IPO
Intel Now Seeks $10 Billion State Aid For German Factory – Report
Chip giant Intel reportedly increases the funding requirement from German government for planned Magdeburg chip factory
ARM Boss Committed To Public Listing In 2023
Chief executive Rene Haas says ARM is committed to an initial public offering this year, and plans are “underway now”
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
Australian Start-Up To Take Over Battery Maker Britishvolt
Australian battery start-up Recharge Industries reaches deal with administrators to take over collapsed UK battery venture Britishvolt
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
Recharge Industries Makes Surprise Bid For Britishvolt – Report
Aussie battery startup Recharge Industries reportedly makes non-binding offer for collapsed UK battery firm Britishvolt
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
Musk Says Twitter To Launch Ad-Free Subscription
Elon Musk says Twitter to offer premium subscription tier without advertising, as company seeks new revenue sources
Elon Musk ‘Lied’ With Tesla Privatisation Tweet, Alleges Attorney
Trial begins in San Francisco between Elon Musk and Tesla shareholders over his controversial “privatisation” tweet in 2018
Twitter Auctions Off Office Furniture, Fixtures And Fittings
Surplus to requirements or cost cutting? Elon Musk is selling office furniture, coffee machines, and even statue of famous bird logo
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
ARM London Listing Sought By PM Rishi Sunak – Report
British government reportedly makes fresh attempt to convince ARM owner Softbank for public listing in London
Tesla Seeks $776m Expansion Of Texas Gigafactory
After China factory issues, application is filed to expand Tesla gigafactory in Texas, costing hundreds of millions of dollars
UK Mulls Cryptocurrency Version Of Sterling
Government minister confirms UK is progressing a digital pound, following similar digital currency moves in India, Taiwan and elsewhere
US Bank Silvergate Covers $8bn In Crypto Withdrawals
US bank Silvergate hit by more than $8 billion in customer crypto withdrawals in late 2022 amidst 'rapid changes' in industry
South Korea Looks To Expand Tax Cuts For Chip Firms
South Korean government wants to expand capex tax cuts for chip companies to as high as 25 percent in revision of bill passed only last week
TSMC Triples Arizona Factory Investment To $40 Billion
President Joe Biden is to visit TSMC chip plant in Arizona after Taiwanese firm prepares to more than triple its investment to $40 billion
MPs Urge Government Support For Chip Industry
MPs urge government to publish delayed semiconductor strategy as US, EU and China push ahead with chip plans