After three years of trying, fintech start-up Revolut finally recieves a UK banking licence, but with some restrictions from regulator
TECHNOLOGY POWERING BUSINESS
News Start-Up
Troubled EV Maker Rivian Lays Out Path To Profitability
At first-ever investor day EV maker Rivian lays out profitability plans after $5bn deal with VW offers it financial lifeline
China-Linked Shein Faces Uphill Battle For IPO In US Or UK
China-founded fast-fashion company Shein faces political resistance in search for IPO venue, as major investors grow impatient
OpenAI Co-Founder Ilya Sutskever To Start New AI Firm
Ilya Sutskever is creating a new AI firm, as part of his stated intention for a project that ‘personally meaningful’ to him
WeWork Emerges From Bankruptcy Protection
WeWork, once valued privately at $47bn and seen as future of workplace, emerges from bankruptcy protection in US
Saudi Fund Invests In China’s Biggest AI Start-Up
Saudi Arabian investment fund Prosperity7 reportedly contributes to funding round for China's Zhipu AI as US tries to keep allies away
Elon Musk’s xAI In $6bn Funding Round Valuing It At $24bn
Elon Musk artificial intelligence start-up xAI concludes $6bn funding round valuing it at $24bn in coming weeks amidst heavy competition
Microsoft Invests 4 Billion Euros In France For AI, Cloud
Global spending spree from Microsoft continues, with huge investment for new data centre to drive AI and skills in France
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
Trump Media Warns Of ‘Potential Market Manipulation’
Shares in Trump social media platform owner rise after chief executive warns of 'naked' short sellers trying to manipulate stock price
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
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
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
First Neuralink Patient ‘Controls Mouse With Thoughts’
First human recipient of Neuralink brain implant can 'control a computer mouse with their thoughts', as company begins trials
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
Jack Ma-Backed Seafood Start-Up Begins Online Sales
Jack Ma-backed start-up 1.8 Meters Marine Technology begins selling seafood in stores and online as billionaire finds post-retirement focus
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
Bumble Chief Whitney Wolfe Herd To Step Down
Whitney Wolfe Herd, chief executive and founder of women-first dating app Bumble, to step down after nearly 10 years
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
Space Start-Up Investment Sees Third-Quarter Growth
Investment in space start-ups sees growth in third quarter for first time in more than a year as investors look for safe bets
AMD To Buy AI Startup As Nvidia Battle Heats Up
US chipmaker AMD is to acquire startup Nod.ai for undisclosed amount, as AI competition against rival Nvidia ramps up
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
Elon Musk Launches AI Startup xAI
AI startup known as xAI from Elon Musk seeks to challenge OpenAI's ChatGPT with a 'pro-humanity' alternative offering
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'