Li Shufu, the billionaire chairman of Geely Holding Group and the man who bought Volvo Cars from Ford for $1.8 billion in 2010, has arrived at a conclusion that many of his peers in the global automotive industry have been slower to reach: the world has too many car factories, and building more of them […]
Somewhere in Hasbro’s network, someone was where they should not have been. The $14.4 billion toy and entertainment conglomerate, owner of Peppa Pig, Transformers, Monopoly, Dungeons & Dragons, Nerf, Play-Doh, and Power Rangers ,disclosed on Wednesday that it had identified unauthorised access to its systems, an intrusion first detected on 28 March that has since […]
Six weeks was all it took. On 9 February, OpenAI switched on advertisements inside ChatGPT for free-tier users in the United States. By late March, the company disclosed that the pilot had crossed $100 million in annualised revenue, drawn more than 600 advertisers, and reached fewer than a fifth of eligible users. Now OpenAI is […]
Isaiah Taylor was sixteen when he decided the nuclear industry had a size problem. Not that reactors were too dangerous or too expensive, though they are both, but that they were simply too big. The multi-gigawatt monuments to Cold War-era engineering that still dot the American landscape were designed for a grid that moved power […]
Six months after listing on the New York Stock Exchange at $40 a share, Klarna is trading at roughly $12. The Swedish buy-now-pay-later company that once symbolised European fintech’s arrival on Wall Street has lost more than three quarters of its market value since its September debut. On Tuesday, it announced a $1.7 billion significant […]
Three months after Australia became the first country in the world to ban children under 16 from holding social media accounts, its online safety regulator says the platforms are not doing enough to make the ban work. eSafety Commissioner Julie Inman Grant released her first compliance report on Tuesday, alleging that Facebook, Instagram, Snapchat, TikTok, […]
At 8pm Tehran time on Tuesday, a new kind of front line was drawn, not through desert terrain or along a disputed border, but through the server farms, cloud regions, and corporate campuses of America’s largest technology companies. The Islamic Revolutionary Guard Corps published a statement on its official Sepah News channel naming 18 US […]
There is a number that keeps getting larger, and on Tuesday it got larger again. OpenAI announced that it had closed its latest funding round with $122 billion in committed capital, valuing the ChatGPT maker at $852 billion post-money. The figure is up from the $110 billion the company announced in February, when Amazon, Nvidia, […]
When Iran effectively closed the Strait of Hormuz in late February, choking off the corridor through which a fifth of the world’s oil and gas flows, the immediate consequences were predictable: crude prices spiked, energy markets convulsed, and geopolitical analysts reached for their most alarming adjectives. What fewer people anticipated was how quickly the crisis […]
The Palo Alto small-EV company raised $200M in a Series C led by Greenoaks, with DoorDash investing alongside a multi-year commercial agreement to deploy purpose-built autonomous vehicles for last-mile delivery. DoorDash co-founder Stanley Tang joins the board as an observer. ALSO, the small electric vehicle company spun out of Rivian in 2025, has raised $200 […]
