Tag: company
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Microsoft to cut thousands of jobs, Xbox to be hit hard
The move will affect the company’s gaming division, which has been facing the outcome of a “not healthy” business model. The jobs cut will not be replaced by AI, Microsoft’s VP said.
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Semiconductor and software company Syntiant Corp files for US IPO
July 6 : Semiconductor and software company Syntiant Corp filed for an initial public offering in the United States on Monday.The listing is the latest in a string of AI-related IPOs this year, amid a broader revival in the U.S. IPO market as companies seek to capitalize on growing investor confidence.
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Italy reshapes national cloud company as Leonardo, Poste target control, sources say
MILAN/ROME, July 6 : Italian defence group Leonardo is preparing to increase its stake in the company that manages cloud services for Italy’s public administration by acquiring an additional 10 per cent from state-owned IT company Sogei, sources told Reuters.Leonardo, which already owns 25 per cent of the so-
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Analysis:Argentina’s plan for AI-run companies can’t avoid humans
BUENOS AIRES, July 3 : Argentine President Javier Milei generated both excitement and fear last month when he announced a congressional bill to create “non-human corporations” run by AI, but the companies would actually require human involvement.Milei described in a Financial Times op-ed piece a new type
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KNDS: German-French tank manufacturer postpones IPO
The German government had been set to purchase a 40% stake in KNDS, but the prerequisite stock market flotation has been postponed. Meanwhile, a German drone start-up has raised $1 billion in fresh funding.
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Wayve courts automakers with AI driving system that learns like humans
July 1 : Autonomous-driving startup Wayve is riding a tide of investor interest. The London-based company has pulled in $2.8 billion from a roster of investors and strategic partners that includes big names across the technology and automotive sectors, from Nvidia to Mercedes-Benz and Nissan. In June, Wayve
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Defense startups raid auto and fracking sectors for parts to speed weapons output
WASHINGTON, July 1 : Defense tech startups are repurposing automotive chips and pipes used in fracking – while copying production methods from drugmakers – in an effort to deliver weapons to the Pentagon faster and at lower cost.Soaring demand for rocket motors used to power missiles and other weapons has spu
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US lifts restrictions on Anthropic’s advanced AI models
Washington had restricted Claude Fable 5 and Mythos 5 invoking national security concerns. OpenAI was also asked to limit the rollout of its latest GPT-5.6 model to vetted partners only.
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S$55 million Good Class Bungalow seized in connection with Nvidia chip movement case
The police issued a prohibition of disposal order against the GCB and seized S$1 million of funds in bank accounts as part of their investigations, which have resulted in additional charges for the four people allegedly involved.
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Vimeo owner Bending Spoons prices IPO at above target range to raise $1.68 billion
June 30 – Bending Spoons, owner of the video platform Vimeo and the internet services company AOL, priced its U.S. initial public offering above its targeted range at $29 per share on Tuesday, raising $1.68 billion in a rare software IPO as the sector grapples with disruption from AI.The Italian software c
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