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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Intel’s new chief executive has promised a major “culture change” at the US semiconductor group, saying he will prioritise attracting talent, building relationships with customers and slashing bureaucracy. Speaking at a company conference in Las Vegas on Monday, Lip-Bu Tan also said Donald Trump’s administration is prepared to help Intel as the federal government seeks to maintain US semiconductor leadership.Tan, a longtime investor in the sector and former CEO of chip software company Cadence, was appointed to lead Intel earlier in March.…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Google parent Alphabet is in talks to buy cyber security start-up Wiz for about $30bn, setting the stage for the biggest acquisition in the search giant’s history, according to people familiar with the matter. Alphabet held talks over a $23bn acquisition of Wiz last year, although the negotiations collapsed after some of the cyber security company’s directors and investors became worried about antitrust hurdles. Alphabet had now returned with a bid of more than $30bn, a person said. The new round of…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Two human rights groups have launched a legal challenge against the UK government’s bid to force Apple to create a “back door” in its security systems, as the iPhone maker prepares to go to court to fight the secret order on Friday. In legal submissions to the Investigatory Powers Tribunal, which probes complaints against the UK’s security services, Privacy International and Liberty argue that Apple’s appeal should be heard in public. They add that ordering the company to compromise the security of…

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Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldThe US Federal Trade Commission has backtracked on a request to delay the trial in its high-profile case challenging Amazon’s Prime service, rejecting its own lawyer’s claim of resource constraints. An FTC lawyer on Wednesday asked a judge in a Seattle federal court to delay the start of the trial scheduled for September due to “extremely severe resource shortfall in terms of money and personnel,” according to US media reports. “The resource constraints are severe and really unique to this moment,”…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI has forged a near-$12bn contract with CoreWeave and will take a stake in the cloud computing provider, boosting the group ahead of its expected $35bn public listing.The ChatGPT maker has signed a five-year deal in which CoreWeave will supply computing power to train and run OpenAI’s artificial intelligence models, said two people with knowledge of the deal. OpenAI is looking to expand beyond a reliance on Microsoft, its biggest partner, for its computing needs.The Financial Times last week reported Microsoft had…

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US start-ups are raising more cash than at any point since 2021 thanks to investor bullishness about artificial intelligence, but the venture capital market has tilted sharply towards funding a handful of huge private tech companies.More than $30bn has been invested into fledgling groups already this quarter, according to PitchBook data. A further $50bn of fundraising is also in train, as venture capitalists work on a series of major deals involving OpenAI, Safe Superintelligence and defence tech start-up Anduril. The fervour over AI has led investors to spend at their fastest rate since the market’s peak in 2021, a period…

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Stay informed with free updatesSimply sign up to the Technology sector myFT Digest — delivered directly to your inbox.Broadcom shares surged in after-hours trading on Thursday as the chip designer announced better than expected revenue and a confident outlook around artificial intelligence.The company, which designs custom AI chips and infrastructure for the biggest tech companies, offered a reassuring message to investors after tech stocks fell on Thursday during a broader pullback in the market.Broadcom reported first-quarter revenue of $14.9bn, and said it was expecting roughly the same revenue for the current quarter, beating Wall Street expectations. Profits in the period…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Meta has reduced its annual distribution of stock options by about 10 per cent for tens of thousands of staff despite the social media group trading at record highs this month. Every year, Meta employees receive so-called equity refreshers, which form the majority of their remuneration, alongside base salaries and annual bonuses. These stack and “vest” every three months over four years, according to people familiar with the matter. Most employees have been told they would receive about 10 per cent less equity this…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Qualcomm and SoftBank-backed Arm posted strong quarterly sales growth on Wednesday as the chipmakers benefited from better than expected smartphone demand.Qualcomm reported revenue of $11.7bn for the quarter to the end of December, above consensus estimates in a S&P Capital IQ poll of $10.9bn and up 17 per cent year on year, and gave March quarter guidance that was above expectations, with a high end of about $11bn.Arm also beat revenue forecasts for its quarter to the end of December at $983mn,…

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Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldPresident-elect Donald Trump said he would “most likely” extend the deadline for ByteDance, the Chinese owner of TikTok, to divest the video app which faces a nationwide ban that is set to come into effect on Sunday.In an interview with NBC News, Trump said he was considering issuing a 90-day extension to the deadline. His comments come one day after TikTok warned that its 170mn users would face an imminent blackout after the Supreme Court on Friday upheld the divest-or-ban…

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