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Chime is buying the bank that has held its customers’ money for seven years. The company announced on Tuesday that it has agreed to acquire Stride Bank of Enid, Oklahoma, for $590m in cash. Stride will become Chime Bank and operate as a wholly owned subsidiary. Closing should follow in the first half of 2027. […]
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Chime is paying $590m for its own sponsor bank Read More »
The European Commission has proposed replacing the EU’s public procurement directives with a single regulation that would apply directly across the bloc. The proposal would introduce a European preference framework for public contracts and create the basis for a digital marketplace connecting tender systems across all 27 member states. The proposal was adopted in Brussels […]
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EU proposes a single procurement rulebook with a European preference for public buyers Read More »
Google will spend €13bn on data centre infrastructure across four Finnish sites during 2027 and 2028, its largest single investment in Europe, the company announced the plan today. The money covers Hamina, where it has operated since 2009, alongside Kajaani, Muhos and Vaala. Alongside it comes a 22-year power purchase agreement with Fortum supporting the […]
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Google will invest €13bn in four Finnish data centre sites over two years Read More »
The European Court of Auditors has published two findings that sit awkwardly together. The EU has no reliable picture of the size or structure of its illicit tobacco market. The criminal networks running that market, according to the auditor who led the report, are using artificial intelligence to work out where to move next. Special […]
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EU auditors say AI is helping tobacco smugglers pick their next target Read More »
The Exploration Company has raised $450m. Most of it goes into something the company is not yet famous for. Not Nyx, the reusable capsule that has drawn the contracts and the SpaceX comparisons. An engine. Kate Duffy reported the round for Bloomberg. Founder and chief executive Hélène Huby told her why the balance falls that […]
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The Exploration Company raises $450m to build a rocket engine Read More »
China’s effort to build its own chipmaking machines finally has a coordinator. It is Huawei. And the flagship machine it is coordinating still runs on German lenses. Eleanor Olcott and Zijing Wu reported the arrangement for the Financial Times, citing multiple people familiar with the matter. TNW has not independently verified it. Huawei is investing […]
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China’s answer to ASML runs on Zeiss lenses, Financial Times reports Read More »
A Welsh chipmaker has just posted a 40% jump in revenue. Its shares are up 849% this year. And its chief executive has told an interviewer that the industry has a supply problem it cannot fully solve. Sofia Gerace reported the interview for Bloomberg. Jutta Meier runs IQE, based in Cardiff. She said access to […]
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China has 70% of a material AI needs, IQE’s CEO warns, Bloomberg reports Read More »
Britain’s publicly owned energy system operator has handed Palantir a £21.2m contract with no competition. The justification it filed is a plain description of why leaving will be difficult. Lindsay Clark reported the award for The Register on Tuesday. The underlying transparency notice sits on Find a Tender. It went up on 26 August. The […]
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Palantir gets £21m from Britain’s grid operator, no competition Read More »
Google changed how search works in Europe on Tuesday. Then it told everyone the new version is worse. Foo Yun Chee reported the rollout for Reuters, which had the story first. The company is complying with an order from the European Commission, and it is doing so while describing the result as the biggest quality […]
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Google made search worse in Europe, and said so out loud Read More »
Memory prices are finally slowing down, and the reason is not that supply improved. It is that buyers ran out of money. TrendForce expects conventional DRAM contract prices to rise 13% to 18% quarter on quarter in Q3. Dan Robinson reported the forecast for The Register. He paired it with separate European shipment numbers that […]
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Memory prices are slowing because buyers ran out of money Read More »