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Prem AI, a Swiss startup that helps hedge funds and law firms run AI models on their own infrastructure, is raising $100 million in a Series A at a valuation of at least $500 million. The company expects to close the round in the third quarter. CEO and founder Simone Giacomelli said the pitch is […]
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Tesco, one of Britain’s largest supermarkets, is migrating approximately 40,000 servers away from VMware. It is also suing Broadcom in the UK High Court for more than GBP 100 million, accusing the company of “abusive conduct.” It is one of the largest publicly disclosed VMware migrations since Broadcom completed its acquisition of VMware in late […]
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Tesco is migrating 40,000 servers off VMware and suing Broadcom for over GBP 100 million Read More »
Lenovo has raised $2bn through seven-year convertible bonds, and the most notable thing about the debt is that it pays nothing. The Beijing-based maker of computers and AI servers sold zero-coupon notes due in 2033, priced at a conversion premium of 47.5% to Wednesday’s closing share price. Investors are lending the company money for free, […]
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Lenovo taps $2bn convertible market to refinance and buy back stock Read More »
A statement Meng Wanzhou signed to make her own legal jeopardy go away can now be used against the company she helps run. A US judge in Brooklyn ruled on Tuesday that admissions made by Huawei’s chief financial officer, as part of the 2021 deal that let her walk free, are admissible in the criminal […]
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Huawei CFO’s admissions can be used against the company, US judge rules Read More »
JPMorgan Chase has stopped its staff in Hong Kong from using Anthropic’s AI models, according to the Financial Times, a quiet decision with loud implications. The bank removed Anthropic’s Claude from the internal drop-down list of approved large language models available to employees in the territory, the FT reported, leaving them without access to one […]
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JPMorgan cuts off Anthropic access for Hong Kong staff Read More »
Apple is going to raise prices, and Tim Cook is no longer pretending otherwise. In an interview with the Wall Street Journal, the chief executive said the company could not keep absorbing the soaring cost of memory and storage chips. “Unfortunately, price increases are unavoidable,” he said. The line is notable mostly because Apple has […]
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Apple to raise prices as memory chip shortage bites, Tim Cook says Read More »
The memo, when it came, was about a transition rather than a departure. Emily Dalton Smith, the Meta executive who had spent barely two months running the company’s push to reorganise itself around AI agents, is leaving. She joined Meta in 2015. She is going just as the work she was hired to lead was […]
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Meta executive leading internal AI overhaul departs after two months Read More »
The news that Apple had agreed to make its chips in the United States did not come from Apple. It came, on Thursday, from a post by President Donald Trump on Truth Social, announcing that the company had agreed to work with Intel to design and manufacture chips on American soil. Apple, for its part, […]
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Trump says Apple will build chips with Intel in the US Read More »
Parafin, an embedded financial infrastructure company on the 2026 Forbes Fintech 50 list, has secured a new credit facility led by Goldman Sachs alongside One William Street Capital Management. The facility will expand access to embedded lending for small businesses through platforms including Amazon, DoorDash, Gusto, TikTok Shop, and Walmart. The company’s model is straightforward. […]
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ECB President Christine Lagarde warned on Wednesday that artificial intelligence could trigger dangerous financial crises and called for global AI governance modelled on the Cold War-era non-proliferation agreements that kept the world safe from nuclear weapons. She spoke in Venice, the sharpest framing yet from a central bank chief on the systemic risks AI poses […]
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