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Automaker Stellantis and Chinese autonomous vehicle company Pony.ai have signed a nonbinding agreement to build robotaxis for deployment in Europe. The collaboration will integrate Pony’s self-driving software into Stellantis’ electric medium-size van platform, which is built with advanced sensors to support autonomous vehicles. The companies plan to first deploy test vehicles based on the…
Electric aviation startup Beta Technologies has priced shares for its initial public offering between $27 and $33, in hopes of raising as much as $825 million, according to a regulatory document filed with the U.S. Securities and Exchange Commission. If the company attracts investors at the top of that range it will debut with a…
Corporate travel management company Navan — once known as TripActions — filed updated IPO documents with the U.S. Securities and Exchange Commission on Friday, even though the federal government is currently shut down. Navan is proceeding under new SEC rules that allows wanna-be public companies that are in limbo during the shutdown to file updated information, including share count and pricing, and have their statements automatically okayed in 20 days without staff scrutiny. Once…
Microsoft is buying 100 megawatts of solar capacity from Japanese developer Shizen Energy, the latest in a string of renewable energy deals designed to power the tech company’s growing compute needs. The agreement, which the companies announced late last week, covers four different solar developments; one is already operating and three are under construction. The…
Charlie Javice, founder of the financial aid startup Frank and Forbes 30 under 30 alumnus, has been sentenced to seven years in prison for fraud. The fintech startup had been acquired by JPMorgan Chase in 2021 for $175 million. The bank later accused Javice of lying about its customer base; the founder claimed the company…
The video game company Electronic Arts is nearing a $50 billion sale to a group of investors including Silver Lake and Saudi Arabia’s Public Investment Fund, according to a report from The Wall Street Journal. EA is best known for its annual sports titles in franchises like Madden NFL, FIFA, and NBA Live, as well…
The Trump administration last Friday announced a new $100,000 annual levy on H-1B visas, which allow 85,000 skilled foreign workers to enter the U.S. each year. The fee applies to companies hiring these workers, primarily in tech. Veteran venture capitalist Michael Moritz isn’t having it. In a new, scathing Financial Times op-ed, the former Sequoia…
Tech giant Huawei unveiled new AI infrastructure meant to help boost compute power and allow the company to better compete with rival chipmaker Nvidia. At a keynote at its Huawei Connect conference on Thursday, Shenzhen, China-based Huawei announced new SuperPoD Interconnect technology that can link together up to 15,000 graphics cards, including Huawei’s Ascend AI chips, to increase compute power. This tech seems to be a competitor for Nvidia’s NVLink infrastructure, which facilitates high-speed communication between AI chips. Technology like this is critical for…
Elon Musk’s Boring Company has reportedly stopped work on a tunnel it’s been digging to the Las Vegas airport after a worker sustained a “crushing injury” late Wednesday night, according to Fortune. Nevada’s Occupational Safety and Health Administration (OSHA) has opened an investigation. The Clark County Fire Department received a call at 10:12 p.m. local…
Rivian is laying off around 150 workers — its second small staff cut in a matter of months — as the company readies itself for the all-important launch of its more-affordable R2 SUV next year. The company confirmed to TechCrunch that the new cuts were mostly to its “commercial” team, which deals with sales and…