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SWISSto12 raised $70M, and it is that rare thing: a profitable space startup

Most space-hardware startups raise money because they are burning it. SWISSto12 raised $70m while turning a profit, an unusual thing in the satellite business. The Swiss company closed the €61m round days after ESA member states put $84.8m into its HummingSat programme, it said. That is more than $150m of fresh capital in a month. […] This story continues at The Next Web https://ift.tt/5gU2KHa Read full article: The Next Web
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Xpeng’s L03 is the first Chinese EV to put proprietary AI driving chips in a mass-market car

Xpeng debuted the L03 on Wednesday in Munich, launching its most internationally ambitious electric vehicle simultaneously across 65 markets. The coupe-SUV is built around the company’s proprietary Turing AI chips, with every trim shipping at least one and the top Ultra variant carrying three for a combined 2,250 trillion operations per second. It is the […] This story continues at The Next Web https://ift.tt/VT9QdOx Read full article: The Next Web
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Fireworks raised $1.5bn on a bet that companies will build AI, not rent it

The AI economy has run on a simple habit: rent a model from a big lab. Fireworks just raised $1.5bn to argue the opposite, that every company will build intelligence of its own. The Series D values the San Mateo startup at $17.5bn, it said. Atreides Management, Index Ventures, and TCV led the round. Nvidia, […] This story continues at The Next Web https://ift.tt/vEsc2DF Read full article: The Next Web
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Sable raised $45 million from Sequoia to build an AI that runs product demos instead of humans

Sable has raised $45 million from Sequoia Capital and 8VC to build an AI system called Aidan that runs live product demonstrations, answers customer questions in real time, and switches between languages mid-conversation. The company, which is less than a year old, calls Aidan an AI employee designed to replace not just chat support but […] This story continues at The Next Web https://ift.tt/XCB9WFe Read full article: The Next Web
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OnePlus exits the US and Europe. The memory crisis and Apple’s lawsuit made staying untenable.

OnePlus, the Android brand that built a cult following with aggressively priced smartphones, will begin to cease operations in the US and Europe as early as this week, Bloomberg reported. The shutdown is part of a broader restructuring at parent company Oppo. Realme, another Oppo mobile brand, will also exit the China market. While OnePlus […] This story continues at The Next Web https://ift.tt/9aQofrO Read full article: The Next Web
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South Korea will give all 52 million citizens free AI access, becoming the first G20 nation to do so

South Korea’s Ministry of Science and ICT opened bidding on July 13 for a free, unlimited AI chatbot and public-service agent available to all 52 million residents. The programme, called “AI for Everyone,” would make South Korea the first G20 nation to offer AI to its entire population as a public service. Two or three […] This story continues at The Next Web https://ift.tt/lEqSJGd Read full article: The Next Web
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CXMT prices a record $8.5bn Shanghai IPO, valuing China’s memory champion at $85bn

China’s biggest memory chipmaker is about to test the public markets. ChangXin Memory Technologies, known as CXMT, has priced its Shanghai IPO at 8.66 yuan ($1.28) a share, the South China Morning Post reported. The sale will raise about 57.9 billion yuan, or $8.5bn. That would make it the largest listing by a Chinese semiconductor […] This story continues at The Next Web https://ift.tt/BLXQSJk Read full article: The Next Web
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Reflection signs a $1bn AI compute deal with Nebius, its second big capacity grab in a month

Reflection AI has locked in more computing power. The US startup signed an AI compute deal worth more than $1bn with Nebius, the Amsterdam-based cloud provider, according to Bloomberg. The agreement runs through 2029. It gives Reflection access to Nvidia’s newest GB300 chips. Nebius confirmed the deal. Its shares have more than doubled this year […] This story continues at The Next Web https://ift.tt/zoFX8LD Read full article: The Next Web
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Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions

JPMorgan Chase has cut jobs by as much as 40 percent in some parts of the bank using artificial intelligence, CEO Jamie Dimon told analysts during the company’s second-quarter earnings call on Tuesday. But investors hoping the technology will dramatically improve profit margins are likely to be disappointed. Dimon said that in a competitive market, […] This story continues at The Next Web https://ift.tt/kTIyd31 Read full article: The Next Web
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India’s Udaan secures $160 million in new funding as it races to fix its balance sheet before an IPO

Indian B2B ecommerce platform Udaan has secured $160 million in a funding round that combines fresh equity from a new investor, additional debt, and the conversion of existing convertible bonds into equity, according to Bloomberg. Lightspeed Venture Partners and M&G Investments are participating in the round. The deal is designed to clean up Udaan’s balance […] This story continues at The Next Web https://ift.tt/8Yzks4I Read full article: The Next Web
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France thinks cheap power is its AI edge. Now it must decide who plugs in

France believes its cheap, low-carbon electricity is Europe’s overlooked advantage in AI. A debate has now opened over that power. Should it go to homegrown AI firms, or to the American giants building data centres on French soil? When the head of Europe’s biggest AI lab arrived at last month’s G7 working lunch on artificial […] This story continues at The Next Web https://ift.tt/pZKIhwo Read full article: The Next Web
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Home robots already walk. 1X’s new hands try to solve the part that actually matters

Humanoid robots learned to walk years ago. The thing still tripping them up is the hand. 1X has given its NEO home robot new hands, and they are the most interesting thing about it. A robot can stride across a stage and still be useless in a kitchen. Lifting a wet glass takes precision, fast […] This story continues at The Next Web https://ift.tt/CzUeJZi Read full article: The Next Web
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Lithuania’s Oxylabs raises $130M from Warburg Pincus at a $3.6bn valuation

Oxylabs has raised $130M from private equity firm Warburg Pincus. It is the company’s first outside investment since it launched in 2015. The deal values the Vilnius-based data infrastructure firm at around $3.6bn. Oxylabs announced the raise on Thursday. The figure is striking for a firm that bootstrapped its way to the top. Oxylabs says […] This story continues at The Next Web https://ift.tt/P5fzHgo Read full article: The Next Web
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The Pentagon calls this Chinese firm a military company. Its lidar runs US robotaxis anyway

A lidar maker the Pentagon brands a Chinese military company quietly wires up America’s robotaxis, trucks, and even an airport. Nvidia is one of its partners. Hesai makes many of the sensors self-driving machines use to see. The Shanghai firm also sits on a US Department of Defense blacklist of Chinese military companies, CNBC reports. […] This story continues at The Next Web https://ift.tt/YGg50vO Read full article: The Next Web
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