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Two years ago, Ramp was a $7.65 billion corporate card company. On Wednesday, it announced a $750 million Series F that values it at $44 billion, a nearly six-fold increase that makes it one of the most valuable private fintech companies in the world. The round was led by ICONIQ, GIC, and Ontario Teachers’ Pension […]
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For months, publishers have faced a binary choice with Google: let AI Overviews summarise your content at the top of the search page, sending less traffic to your site, or disappear from Google entirely. As of Wednesday, that choice no longer applies in the UK. The Competition and Markets Authority has ordered Google to give publishers the […]
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Vlad Yatsenko was Revolut’s first employee. He joined before CEO Nik Storonsky had even launched the company. Storonsky later gave him the title of co-founder, not because he had co-founded the business in the conventional sense, but because, as Storonsky told David Rubenstein earlier this year, “it was easier for him to recruit engineers if he had […]
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Mustafa Suleyman has identified Microsoft’s biggest AI competitor, and it is not OpenAI. “Anthropic is extremely expensive and I think many people are urgently looking for alternatives,” the head of Microsoft’s in-house model effort told Bloomberg in an interview. The statement is more than competitive positioning. It is a declaration of intent. “We pay a lot of […]
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Microsoft’s AI chief says the company wants to “eliminate” what it pays Anthropic Read More »
The marketed range was $53 to $55. Quantinuum priced at $60. That gap, the willingness of investors to pay above what the bankers asked, is the real news in the Honeywell-backed company’s initial public offering, which raised $1.68bn and set a valuation the entire quantum-computing sector will now be measured against. The mechanics are straightforward. […]
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Quantinuum prices its IPO at $1.68bn, setting a new bar for quantum Read More »
A reinvestment zone is the unglamorous first step, the procedural gate that has to open before any of the larger numbers attached to a project can flow. On 3 June, the commissioners of Grimes County, Texas, opened it, voting 4-1 to designate a reinvestment zone for SpaceX’s proposed Terafab semiconductor plant. The vote is the […]
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SpaceX wins Texas county approval for Terafab reinvestment zone Read More »
The case turns on a question of authorship. When a user types a prompt and Grok returns a sexualised image of a real woman, who made it, the person at the keyboard or the company that built the machine? On 3 June, Labour MP Jess Asato filed a claim at the High Court in England […]
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A UK MP’s lawsuit could decide whether xAI answers for what Grok makes Read More »
Meta has reached for a bigger weapon. The company accused the Australian government of breaching the US-Australia free trade agreement with its proposed News Bargaining Incentive, and pointed Washington towards the “trade action” it has taken against other countries that taxed American technology firms. The dispute over paying for news, now in its fifth year, […]
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Meta accuses Australia of breaching trade pact over news bargaining tax Read More »
The streaming service that taught a generation to scroll endlessly now wants to sell them the cure. At the Bloomberg Tech conference in San Francisco on Wednesday, Netflix’s chief product and technology officer, Elizabeth Stone, said the company is deploying generative AI to help subscribers cut through the volume of content it has spent two […]
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Netflix turns to generative AI to fix a problem it helped create Read More »
Anthropic has selected Morgan Stanley and Goldman Sachs to lead its initial public offering, with JPMorgan Chase also working on the deal, Bloomberg reported on Tuesday. The Claude developer is weighing going public as soon as October after filing confidentially for a listing on Monday. More banks could be added to the lineup, and details of […]
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