European space startup The Exploration Company (TEC) is negotiating to secure hundreds of millions in funding to advance a project aimed at producing reusable space capsules, according to the Financial Times (FT), referencing sources. The newspaper reported that the firm is in talks to secure a minimum of $300 million, which could potentially raise the startup's valuation beyond $2 billion. A...

German battery manufacturer Varta has applied for bankruptcy, according to a Stuttgart district court representative who spoke with Reuters. The agency announced a day earlier that the struggling company intended to take this action after its shareholders—sports car manufacturer Porsche AG and Austrian investor Michael Tojner—declined to offer more funding. Currently, Varta is confronted with a...

Uber Technologies has reduced its customer and driver support team by 10% as a result of adopting artificial intelligence and a worldwide organizational streamlining initiative, Bloomberg reports, referencing an internal memo. Megha Yethatika, vice president of global customer operations at Uber, noted in the memo that the organization has become overly complex and fragmented, hindering the...

Chip producer Advanced Micro Devices (AMD) has committed to investing as much as $5 billion in Anthropic as a component of a chip agreement, according to the company’s press service. According to The Wall Street Journal (WSJ), this marks AMD's initial investment in the Claude developer. On July 22, the firms revealed a strategic alliance. According to the agreement, Anthropic will acquire AMD's...

Samsung Electronics of South Korea is creating a division to enhance robotics development and its commercialization, the company revealed. The robotics unit will be named RX (Robotics eXperience) and will directly report to the CEO of Samsung. The division will manage mid- and long-term strategy, business activities, and the advancement of essential technologies in the sector, while also...

U.S. District Court Judge Araceli Martinez-Olguin in Oakland, California, has directed Paramount Skydance and Warner Bros. Discovery (WBD) to pause the finalization of their merger for 14 days, according to Bloomberg. The businesses anticipated finalizing the agreement on July 22. California and 11 other states initiated a lawsuit a week ago to prevent the deal, arguing it would negatively...

Chinese AI firm Moonshot AI has notified its investors about its intentions to become a publicly traded company within six months, according to Bloomberg, referencing sources close to the situation. The agency stated that Moonshot has provided shareholders with a draft resolution for listing, requesting their consent for a listing on the Hong Kong Stock Exchange. Sources indicated that Moonshot...

British BP will divest its 42 percent interest in BP Energy Company of Kirkuk Limited (BP ECKL), which is engaged in rehabilitating Kirkuk, one of Iraq's oldest fields, and developing adjacent fields in northern Iraq, to American ConocoPhillips. BP disclosed that the accord will be formalized during Iraqi Prime Minister Ali Al-Zaidi's official trip to Washington and will signify the integration...

Neko Health, a company focused on body-scan diagnostics, has secured $700 million in funding from venture capitalists, wealthy individuals, and celebrities, according to Bloomberg, referring to a statement from the company. The round was spearheaded by billionaire Eyal Ofer's OG Venture Partners along with Lightspeed Venture Partners. Neko Health's backers feature supermodel Claudia Schiffer,...