US logistics startup Flexport to lay off 20% of its workforce – The Information
(Reuters) -U.S. logistics startup Flexport is planning to lay off about 20% of its workforce in the coming weeks, The Information reported on Friday citing people familiar with the matter. Flexport did…
EV battery startup ONE names Paul Humphries as CEO, replacing founder
(Reuters) – Electric-vehicle battery startup Our Next Energy (ONE) said on Sunday that Paul Humphries will be its new CEO effective immediately, replacing Mujeeb Ijaz, who held the post since he founded…
Ex-Silicon Valley Bank startup banking chief joins law firm Orrick
By David Thomas (Reuters) – U.S. law firm Orrick, Herrington & Sutcliffe on Tuesday said it has hired the ex-head of startup banking at Silicon Valley Bank, which was a top lender…
Caterpillar invests in tech startup Nth Cycle to boost recycling
By Ernest Scheyder (Reuters) – Caterpillar is investing in recycling technology developer Nth Cycle as part of a push to boost the reuse of metals used to make batteries and construction equipment.…
EV battery startup ONE cuts workforce by 25%
(Reuters) – Our Next Energy (ONE) said on Monday it has cut around 25% of its workforce, or 128 employees, as the electric-vehicle battery startup deals with high borrowing costs and an…
Airbnb acquires AI startup GamePlanner.AI
(Reuters) – Airbnb said on Tuesday it has acquired GamePlanner.AI, a 12-person startup, for an undisclosed sum, amid rapid adoption of artificial intelligence that has taken the tech world by storm and…
Exclusive-Google in talks to invest in AI startup Character.AI -sources
By Krystal Hu (Reuters) – Alphabet’s Google is in talks to invest hundreds of millions of dollars in Character.AI, as the fast growing artificial intelligence chatbot startup seeks capital to train models…
After Peru and Colombia exit, used-car startup Kavak refocuses on Mexico, exec says
By Kylie Madry MEXICO CITY (Reuters) – Used-car startup Kavak is re-concentrating efforts on its home market, a top executive said, following the company’s announcement it would close shop in Peru and…
GM, Stellantis invest in EV magnet startup in move to reduce China reliance
(Reuters) – General Motors and Stellantis said on Wednesday they will invest in startup Niron Magnetics, part of a plan to develop electric-vehicle magnets without rare earths as the automotive industry aims…
Losses widen, cash needed at chip startup Graphcore, an Nvidia rival -filing
By Max A. Cherney (Reuters) – Artificial intelligence chipmaker Graphcore said it needed to raise cash due to widening losses, according to a filing, as Nvidia’s dominance in AI chips has chilled…
EV startup Fisker raises $150 million from existing investor
(Reuters) – Fisker Inc has raised $150 million from an existing institutional investor through the issue of convertible bonds with an additional $550 million in funding available, the electric-vehicle startup said on…
AI startup SambaNova launches new chip designed for higher quality AI
By Max A. Cherney (Reuters) – Artificial intelligence chip startup SambaNova Systems announced a new semiconductor on Tuesday, designed to allow its customers to use higher quality AI models at a lower…
AI chip startup Enfabrica raises $125 million, with backing from Nvidia
By Stephen Nellis (Reuters) – Enfabrica, a Silicon Valley chip startup working on networking chips for artificial intelligence data centers, said on Tuesday that it has raised $125 million in venture capital,…
Exclusive-AI chip startup d-Matrix raises $110 million with backing from Microsoft
By Max A. Cherney (Reuters) – Silicon Valley-based artificial intelligence chip startup d-Matrix has raised $110 million from investors that include Microsoft Corp at a time when many chip companies are struggling…
AI startup Speak raises $16 million in latest funding led by Lachy Groom
(Reuters) – Speak, an artificial intelligence (AI)-backed English language learning platform, said on Thursday that it has raised $16 million in fresh funding led by venture capitalist Lachy Groom. The funding round,…
Food delivery startup Getir to cut 11% of workers in global restructuring
LONDON (Reuters) – Turkish grocery delivery firm Getir announced a global restructuring on Tuesday, saying it plans to cut 2,500 jobs across five countries, or 10.9% of its total workforce. Getir will…
GM backs EV battery startup as it shifts future focus to cheaper materials
By Akash Sriram and Paul Lienert DETROIT (Reuters) – General Motors is investing in a Silicon Valley startup to help it speed development of a more affordable battery chemistry for its future…
UK battery startup Nexeon to supply Panasonic with advanced material
By Paul Lienert (Reuters) – UK battery startup Nexeon will supply high-energy silicon anode material to Panasonic’s newest U.S. plant starting in 2025, the companies said on Monday. The use of silicon-rich anodes…
McKinsey partners with startup Cohere to help clients adopt generative AI
By Krystal Hu (Reuters) – Consultancy giant McKinsey said it had struck a partnership with artificial intelligence startup Cohere in an effort to provide AI solutions to its enterprise clients. This is…
Nuclear startup Oklo to go public in US via Sam Altman’s SPAC
(Reuters) – Sam Altman-backed Oklo has agreed to go public in the United States through a merger with his blank check firm in a deal that values the nuclear startup at $850…
Google-backed Anthropic startup upgrades its Claude AI, better at coding
By Jeffrey Dastin and Stephen Nellis (Reuters) – Anthropic, an artificial intelligence startup backed by Google, on Tuesday widened consumer access to its chat program Claude and upgraded underlying technology that the…
Startup e-commerce platform Temu expands to Japan
SHANGHAI (Reuters) – Ultra low-cost e-commerce platform Temu, owned by PDD Holdings, has started selling to Japan, marking its first foray into the Asian market. The marketplace, the sister site of Chinese…
Humane, a startup founded by ex-Apple execs, will use Qualcomm chips
By Stephen Nellis (Reuters) – Humane, the startup founded by ex-Apple Inc executives that raised $100 million earlier this year, said on Friday that it will use Qualcomm Inc’s chips in its…
GM buys Israel-based software startup to detect early battery defects
(Reuters) – General Motors said on Friday it had acquired Algolion Ltd, an Israel-based software startup that helps detect problems in batteries. GM said Algolion’s software will help the Detroit automaker bring…
AI model startup Reka raises $50 million led by DST Global Partners
By Krystal Hu (Reuters) -Reka, an AI model startup founded by former researchers from Alphabet’s DeepMind, has raised $50 million in a fresh round of funding from investors including Yuri Milner’s DST…
Electric Vehicle Startup Files For Bankruptcy, Sues Investment Partner
Electric Vehicle Startup Files For Bankruptcy, Sues Investment Partner Will Kessler on June 27, 2023 Electric vehicle startup Lordstown Motors Corp. (LMC) filed for Chapter 11 bankruptcy on Tuesday, blaming its financial…
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