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North American chip firm Alphawave opts for London over New York in upcoming IPO

North American chip firm Alphawave opts for London over New York in upcoming IPO

Key PointsIn this articleLONDON – Canadian chip firm Alphawave is set to list on the London Stock Exchange, shunning New York's tech-focused Nasdaq stock market in the process.The four-year-old company, which makes chip technology that can help data flow through networks faster, announced Thursday that it intends to raise around $500 million in an initial public offering on the main market of the London Stock Exchange.Founded by Tony Pialis, Jonathan Rogers and Raj Mahadevan in Toronto, Alphawave has said it plans to set up a research lab in Cambridge, where chip designer Arm is also...

Apr 22
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Britain intervenes in Nvidia's $40 billion Arm takeover on national security concerns

Britain intervenes in Nvidia's $40 billion Arm takeover on national security concerns

Key PointsIn this articleLONDON — The U.K. government has intervened in proposed $40 billion takeover of chip designer Arm on national security grounds.Britain's Digital Secretary Oliver Dowden issued on Monday. It's not clear what the national security grounds are but the Department for Digital, Culture, Media and Sport said Dowden "considered advice received from officials across the investment security community."Dowden said he has written to the U.K. competition watchdog and asked them to start a "phase one" investigation into the transaction, which was announced in September.The...

Apr 19
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SoftBank invests $2.8 billion in Norwegian robotics firm AutoStore

SoftBank invests $2.8 billion in Norwegian robotics firm AutoStore

Key PointsIn this articleLONDON ­– Japanese tech conglomerate has acquired 40% of Norwegian warehouse automation firm AutoStore for $2.8 billion.The news was first and later by AutoStore in an update on its website.The deal values AutoStore at $7.7 billion.SoftBank, which has made a string of investments into e-commerce and robotics over the last few years, is buying the stake from U.S. private equity group Thomas H. Lee Partners and Swedish venture capital firm EQT."We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the...

Apr 6
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Amazon-backed Deliveroo tanks in London market debut

Amazon-backed Deliveroo tanks in London market debut

Key PointsIn this articleLONDON — Shares of British food delivery start-up plunged in its stock market debut Wednesday, as the company faces pressure from top investors and trade unions over workers' rights.Deliveroo, which is backed by , saw its shares sink around 30% in early deals compared to the issue price, before trimming some losses. Shares were down 26% by the market close.The company priced its shares at £3.90 ($5.36) Tuesday, giving it an expected market value of £7.59 billion, which was at the bottom end of its IPO target range.But the company's share price fell as low as £2.73...

Mar 31
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Silicon Valley leaders think A.I. will one day fund free cash handouts. But experts aren’t convinced

Silicon Valley leaders think A.I. will one day fund free cash handouts. But experts aren’t convinced

Key PointsIn this articleArtificial intelligence companies could become so powerful and so wealthy that they're able to provide a universal basic income to every man, woman and child on Earth.That's how some in the AI community have interpreted a post from Sam Altman, the CEO of research lab OpenAI, that was published earlier this month. In as little as 10 years, AI could generate enough wealth to pay every adult in the U.S. $13,500 a year, Altman said in his 2,933 word piece called ".""My work at OpenAI reminds me every day about the magnitude of the socioeconomic change that is coming...

Mar 30
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UK pulls away from France and Germany on VC funding despite Brexit

UK pulls away from France and Germany on VC funding despite Brexit

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS In this articleLONDON – U.K. tech start-ups raised a record $15 billion from venture capitalists in 2020, widening its gap with Germany and France, according to a report from government funded lobby group Tech Nation.The U.K.'s tech start-ups raised more in 2020 than start-ups in any other country except for the U.S. ($144 billion) and China ($44.6 billion), according to . Investment in the U.K. companies last year was $200 million higher than it was in 2019's record breaking year.The...

Mar 16
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A.I. researchers urge regulators not to slam the brakes on its development

A.I. researchers urge regulators not to slam the brakes on its development

Key PointsLONDON — Artificial intelligence researchers argue that there's little point in imposing strict regulations on its development at this stage, as the technology is still in its infancy and red tape will only slow down progress in the field.AI systems are currently capable of performing relatively "narrow" tasks — such as playing games, translating languages, and recommending content.But they're far from being "general" in any way and some argue that experts are no closer to the holy grail of AGI (artificial general intelligence) — the hypothetical ability of an AI to understand or...

Mar 29
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Elon Musk says people can now buy a Tesla with bitcoin

Elon Musk says people can now buy a Tesla with bitcoin

Key Points CEO Elon Musk announced late Tuesday that it is now possible to buy Tesla vehicles in the U.S. with bitcoin.The automaker last month revealed that it had and that it would soon start accepting the world's most popular cryptocurrency as a form of payment."You can now buy a Tesla with Bitcoin," he tweeted.People outside the U.S. will be able to buy a Tesla with bitcoin "later this year," Musk said, without specifying which countries.In order to accept the payment, Musk said Tesla is using "internal" and "open source software."He added that Tesla "operates bitcoin nodes directly."...

Mar 24
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Amazon stands to win big on Deliveroo's IPO

Amazon stands to win big on Deliveroo's IPO

Key PointsLONDON — Deliveroo is planning to raise £1 billion ($1.38 billion) in its initial public offering next month when it is expected to debut on the London Stock Exchange.The food delivery service plans to offer up to 256,456,256 new shares at £3.90 to £4.60 per share, according to the , which was published Tuesday. Existing shareholders are also planning to sell up to 128,205,128 shares.The IPO will , which is higher than previous reports had suggested. Even at the lower end of the range, Deliveroo will still be the largest tech IPO in Europe so far this year and the largest in...

Mar 23
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Airbnb says it plans to temporarily house 20,000 Afghan refugees

Airbnb says it plans to temporarily house 20,000 Afghan refugees

Key PointsIn this article is planning to start housing 20,000 Afghan refugees around the world free of charge, the company's CEO, Brian Chesky, said Tuesday.The refugees will be housed in properties listed on Airbnb's platform and the stays will be funded by Airbnb, Chesky said on Twitter, without specifying exactly how much the company plans to spend on the commitment or how long refugees will be housed for.The U.S. said Monday it has evacuated roughly 48,000 people from Afghanistan in recent days, while thousands are still trying to escape, fearing reprisals from the Taliban militants now...

Aug 24
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