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This report is from this week’s The Tech Download newsletter. Like what you see? You can subscribe here.Nvidia has cemented itself at the heart of the AI boom with a monopoly on the most powerful chips to train and run models, but a growing crop of startups are set on challenging the company’s supremacy.And increasingly, investors are throwing huge sums behind them. In 2026, AI chip startups raised $8.3 billion in funding, globally, according to Dealroom. Barring a near total collapse of the market, the sector is expected to see record sums pumped into it this year. So what’s causing the spike?While…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The new director of the EU’s anti-fraud agency has warned that European capitals’ rearmament drive is a “magnet” for criminals who are attracted by the historic sums being poured into the defence sector.The anti-fraud watchdog Olaf has received a rising number of tip-offs regarding “wrongdoing in the defence area, especially in research projects or procurement”, it stated in its yearly report published on Monday.“If we invest more into defence, you will see more fraud or more cases in defence,” Petr Klement, who…
European chip startups developing alternative technology to Nvidia’s graphics processing units (GPUs) are eyeing big funding rounds as they look to scale amid the AI boom. Dutch company Euclyd, backed by the former CEO of chipmaking equipment giant ASML, is currently in discussions with investors for a round of at least 100 million euros ($118 million), its founder Bernardo Kastrup, told CNBC in an exclusive interview.Elsewhere, U.K. startup Optalysys is planning a $100 million plus fundraise later this year and British company Fractile and France’s Arago are reportedly fundraising for nine-figure rounds. Fractile declined to comment and Arago did not…
New internet-based guidance system allows operation of unmanned aerial vehicles far from battlefield Source link
Energy shipments are increasingly being used as a foreign policy tool as the Trump administration attempts to hold down two blockades on opposite sides of the globe.The U.S., under the direction of President Donald Trump, has initiated a naval blockade targeting Iranian vessels in and around the strategically vital Strait of Hormuz, seeking to put economic pressure on Iran and bring an end to the Middle East crisis.The move has prompted concern from China, given it has long been the largest buyer of Iranian crude, with Beijing calling the blockade “irresponsible and dangerous.” Iran, for its part, on Friday declared…
Stay informed with free updatesSimply sign up to the European banks myFT Digest — delivered directly to your inbox.UniCredit chief executive Andrea Orcel has intensified his pursuit of rival Commerzbank, unveiling a new business plan for the German lender that he said has “consistently underperformed” under its current strategy.The plan unveiled on Monday would lift Commerzbank’s net income to about €5.1bn in 2028 — well above its current projections. The lender “risks becoming increasingly unfit for a banking environment that is changing rapidly”, Orcel told a conference call. UniCredit is already Commerzbank’s largest single shareholder after building a stake in 2024.…
American Airlines and United Airlines airplanes at the Terminal A at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Thursday, Jan. 12, 2023.Aristide Economopoulos | Bloomberg | Getty ImagesAmerican Airlines stock fell Monday after the company rejected talk of a potential megamerger with United Airlines late last week.The legacy U.S. carrier issued a statement Friday, shortly after the markets closed, to dismiss talk of a potential deal between the two airlines. “American Airlines is not engaged with or interested in any discussions regarding a merger with United Airlines,” it said in the statement. “While changes in the…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Prime Minister Giorgia Meloni’s governing coalition is facing fierce criticism from Italy’s legal community over a new proposal to pay immigration lawyers a €615 bonus for every irregular immigrant that they can persuade to leave the country.The so-called repatriation bonus — approved by the Senate on Friday — was a late amendment to a sweeping security bill due to be approved in the lower house of parliament this week. Other controversial elements in the proposed law include a provision for authorities to…
A satellite view of the Strait of Hormuz, a strategic waterway between Iran and Oman that links the Persian Gulf to the Arabian Sea.Gallo Images | Getty ImagesAs the world’s oil traders parsed satellite images and official statements for clues on the fate of the Strait of Hormuz, one research firm seems to have taken a different approach: It says it sent an analyst directly into the conflict zone.Citrini Research, which issued a market-shaking bearish call on artificial intelligence earlier this year, said it dispatched an analyst to Oman’s Musandam Peninsula, where the person traveled by boat to observe shipping…
Robinhood’s new partnership with the U.S. Treasury Department on children’s so-called Trump Accounts is going to drive exposure to the company among emerging investors, benefiting its future growth, according to Vlad Tenev.On Monday, the Treasury said it has selected Robinhood alongside BNY Mellon to help power Trump accounts – tax-deferred, custodial-style investment accounts for children set to launch this summer with a $1,000 seed contribution from the government for kids born between 2025 and 2028 — and build the app linked to it.Tenev, the CEO of the investing app, called it an evolution of the American Dream and a key…