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A development bank just built a €1.4bn insurer in two years

A development bank has just minted a unicorn, and it took two years. Ominimo, a Budapest-based motor insurance startup founded by Serbian and Hungarian entrepreneurs, has closed a Series B led by the venture arm of the European Bank for Reconstruction and Development. The round is €20.1mn, or about $22.5mn, at a €1.4bn valuation, EU-Startups […]

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Waymo keeps parking in tow-away zones in Austin. It has been fined 64 times.

Waymo’s robotaxis have accumulated 83 parking citations and $9,325 in fines in Austin since the fleet arrived in 2024, according to city records obtained by The Wall Street Journal. The company has paid most of them. The more revealing number is 64: the count of violations involving tow-away zones, far more than any other category. […]

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CXMT’s founder is giving 40% of his new fortune to his workers

Zhu Yiming got about $10bn richer on Monday. He has promised to give roughly $5.6bn of it away, and not to charity. The chairman of CXMT saw his fortune climb nearly 300% to $13.9bn when the memory chipmaker closed its Shanghai debut up 466%, according to the Bloomberg Billionaires Index. About 40% of that is […]

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Nvidia, Microsoft launch open AI security alliance – without OpenAI, Google, or Anthropic

Nvidia on Monday said it is joining forces with Microsoft, SpaceX, IBM, and other tech companies to build and share open-source AI security tools. The new Open Secure AI Alliance said open tools are required to effectively defend against attacks from frontier models. The initiative is a direct response to mounting concerns over the safety […]

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