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Honeywell’s Quantinuum settles on $12.7bn IPO target after $20bn whisper

Quantinuum, the quantum-computing company majority-owned by Honeywell, is targeting a valuation of $12.7bn in its US IPO, according to a Reuters report on Tuesday, a level materially below the $20bn-plus figure that circulated earlier in May when the company filed its S-1. The new figure puts the IPO at roughly 27% above the $10bn pre-money valuation […]

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BNP Paribas works with Mistral on a European answer to Anthropic’s Mythos

BNP Paribas is working with Mistral AI to prepare for a category of AI cybersecurity tools its US peers already use and its European supervisors cannot reliably get hold of, according to a Bloomberg report on Tuesday. The Paris-based bank, the eurozone’s largest by assets, is one of several European institutions helping Mistral develop a […]

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SpaceX wants the Pentagon to pay five times more for Starlink in the Iran war

With US strike drones over Iran relying on Starlink for guidance, SpaceX has told the Defense Department the current $5,000-per-terminal rate undervalues what the network is actually doing. SpaceX has told the US Defense Department that it should be paying around $25,000 per terminal for the Starlink links guiding American strike drones over Iran, rather […]

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Pony AI raises year-end fleet goal to 3,500 robotaxis after a strong Q1

Pony AI, the Beijing-based driverless car company, raised its 2026 year-end robotaxi fleet target on Tuesday to more than 3,500 vehicles, up from a previous 3,000, after reporting first-quarter robotaxi revenues that rose 395% year-on-year. The revised guidance came in the company’s Q1 2026 earnings release on Tuesday. Pony AI’s robotaxi fleet has already passed 1,700 vehicles, […]

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China extends AI travel curbs from DeepSeek to other private firms

Top researchers at private Chinese AI companies are being asked to surrender passports, in a quiet expansion of the controls that began at DeepSeek earlier this year. China is widening its informal travel restrictions on senior AI researchers, extending controls that began at DeepSeek earlier this year to a broader group of private-sector firms working at the […]

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Spain blocks Polymarket and Kalshi over missing gambling licences

A three-to-four month suspension while Madrid’s gambling watchdog investigates makes Spain the latest European jurisdiction to treat prediction markets as unlicensed betting. Spain has temporarily blocked the US-based prediction markets Polymarket and Kalshi for operating in the country without a gambling licence, according to an order published in the Spanish state gazette on Tuesday by […]

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Sam Altman says an AI jobs apocalypse is unlikely

The OpenAI chief, speaking in the Asia-Pacific, walked back the more dramatic predictions of broad employment collapse. The data, so far, agrees with him. OpenAI chief executive Sam Altman said on Tuesday that artificial intelligence was unlikely to trigger the broad employment collapse that has come to be known, in the industry’s own shorthand, as […]

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Samsung’s non-chip union goes to court to halt bonus vote

A smaller Samsung Electronics union representing roughly 13,000 workers in the company’s smartphones, televisions and home appliances divisions has filed an injunction at South Korea’s Suwon District Court to halt an ongoing companywide vote on a bonus deal that would deliver a windfall to memory chip workers and almost nothing to everyone else. The injunction […]

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Ferrari unveils the Luce, a five-seat electric car co-designed with Jony Ive

The Maranello firm’s first all-electric model starts at €550,000, runs to more than 1,000 horsepower and arrives with deliveries in the fourth quarter. Ferrari pulled the covers off its first all-electric road car on Monday: the Luce, a four-door, five-seat liftback developed in collaboration with Jony Ive’s LoveFrom collective, priced from €550,000 in Italy and […]

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Brussels prepares biggest-ever DMA penalty for Google

The European Commission is preparing to fine Google a sum running into the high hundreds of millions of euros for breaching the Digital Markets Act, according to a Handelsblatt report on Monday, in what would be the largest penalty ever issued under the bloc’s new tech competition regime. The Commission’s case rests on the long-running complaint that […]

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