Author: Jaxon Bennett

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.SoftBank has agreed to acquire chip start-up Ampere Computing for $6.5bn as the Japanese tech group’s founder Masayoshi Son expands his ambitions in artificial intelligence.The deal is the latest big move by Son, who has said SoftBank will build a vast infrastructure for AI that includes chip design, production, energy, robotics and data centres.Ampere makes processors for cloud computing and data centre applications based on technology from UK chip designer Arm, which is majority-owned by SoftBank.Arm intends to launch its own chip…

Stay informed with free updatesSimply sign up to the Cyber Security myFT Digest — delivered directly to your inbox.Britain’s cyber security watchdog has warned businesses and governments to prepare for the arrival of quantum computer hacking by 2035 and switch to stronger encryption methods that the new technology cannot compromise. In guidelines published on Thursday, the National Cyber Security Centre, a branch of signals intelligence agency GCHQ, said the risks posed by the rapid development of quantum computers were not being taken seriously enough and called for organisations to begin preparing now. “The threat to cryptography from future large-scale, fault-tolerant…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Data centre operator CoreWeave will seek to raise as much as $2.7bn in a US initial public offering that is expected to be the largest tech listing of the year, according to people close to the matter.The New Jersey-based start-up would kick off a roadshow with investors to generate interest for its shares as soon as this week, the people said. It will ask investors to pay $47 to $55 per share, selling 49mn shares at the IPO.Bankers for the company had…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk’s X has raised about $1bn in a new equity funding round that values the social media company at $44bn, bringing its valuation back in line with the price the billionaire paid in 2022. Musk, X’s majority shareholder, was among those who purchased the shares, according to several people familiar with the matter. Darsana Capital, an investor that has bought debt tied to Musk’s X buyout, and 1789 Capital, a venture firm whose partners include Donald Trump Jr and has invested…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Accounting isn’t real life. The dollar of revenue in your annual report isn’t quite the same as a dollar in the till. This is mostly OK and is often a good thing, from an investor’s point of view. But sometimes financial numbers can obscure rather than illuminate. Elon Musk’s X is a case in point.Shares in the social network changed hands recently at a $44bn valuation including debt, the same amount Musk paid to buy it — when it was still called…

Stay informed with free updatesSimply sign up to the Cyber Security myFT Digest — delivered directly to your inbox.The writer is president of encrypted messaging service Signal Imagine a government telling a car company to secretly weaken the effectiveness of the brakes on all the cars it sells, recklessly endangering the safety of millions. It would be an unthinkable undermining of public safety. Sadly, this is what’s happening in the UK in cyber security, where Apple was forced to strip the vital privacy and security protection of end-to-end encryption from its backups storage service — exposing people and infrastructure to significant…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brussels is pressing ahead with regulatory action against Apple and Google under landmark legislation designed to expose the groups to new competition, despite tensions with President Donald Trump over the EU’s tough regulation of US big tech companies. The European Commission, the bloc’s executive arm, on Wednesday charged Google’s parent company Alphabet with breaking the Digital Markets Act. In preliminary findings, regulators said they were worried that Google’s search engine preferred its own services over rivals, despite a series of changes to Google…

This article is an on-site version of our Moral Money newsletter. Premium subscribers can sign up here to get the newsletter delivered three times a week. Standard subscribers can upgrade to Premium here, or explore all FT newsletters.Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT Welcome to Moral Money. I’m back to my old stomping grounds while Simon is away this week, and today I have an item on foreign aid in the Trump era.For more than a decade, some of Silicon Valley’s biggest entrepreneurs have argued for more science-driven,…

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Elon Musk’s artificial intelligence company xAI and chipmaker Nvidia are becoming partners in a multibillion-dollar AI infrastructure fund backed by BlackRock, Microsoft and Abu Dhabi, as companies rush to build data centres and energy projects to power generative AI. The technology groups said on Wednesday they would join the so-called AI Infrastructure Partnership, with plans to initially raise $30bn from investors and companies, with the goal of securing up to $100bn in total investment including debt financing.The investment vehicle is aimed at…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.China’s Hesai has denied short-seller allegations that the world’s biggest maker of laser sensors for electric vehicles has misled investors over financial reporting and alleged ties to the People’s Liberation Army.Shares in the Nasdaq-listed group closed 7.8 per cent lower in New York on Tuesday, marking the latest challenge to the Shanghai-based company that is suing the Pentagon over its designation as a military-affiliated company.The hit to Hesai’s stock came after Blue Orca Capital, a Texas-based short seller, released a report alleging…