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15H
Marvell Tech will acquire chip startup Innovium for $1.1bn
Marvell Technology has revealed its plans to acquire chip startup Innovium in a $1.1bn all-stock deal. The acquisition is aimed at bolstering Marvell's share of networking chips sold to large cloud-computing companies. Marvell Chief Executive Matt Murphy told Reuters that the company's long-term plan is to integrate the Innovium and Inphi products to deepen its ties with cloud computing vendors.
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18H
Finite State secures $30m for IoT security platform
Finite State has completed a Series B funding round, raising $30m. The company offers organisations cybersecurity controls for connected devices and supply chains. "Cyberattackers see firmware as a weak link," Finite State's CEO told Tech Crunch. Energize Ventures led the round, which included participation from Schneider Electric Ventures. Finite now wants to scale and increase headcount.
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19H
Nvidia tracking 8,500 AI startups through its Inception AI programme
Nvidia says it is now tracking more than 8,500 AI startups through its Inception AI programme. The programme is designed to provide support and software to small companies in the AI space. Data is shared among the ecosystem of startups to further accelerate the development of AI solutions. The tracked startups have raised more than $60bn in funding and come from 90 countries, Nvidia said.
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19H
Google to launch its own processors in a shift away from Qualcomm
Google has announced the launch of a new model of processor designed in-house. The decision is a clear shift away from Qualcomm's technology, which has powered the search giant's Android devices for more than 15 years. The new processor will be known as Tensor and it will power the Pixel 6 and Pixel 6 Pro phones. Google's upcoming 5a phone will still have a Qualcomm processor.
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1D
Nozomi Networks lands $100m for industrial cyber security
Nozomi Networks has secured $100m in new funding. The company delivers security solutions for critical infrastructure such as oil, gas and water. The cash has come from its customers and technology partners, and will help Nozomi develop new products. Its software monitors industrial machines, and warns users about potential hackers. “Attacks have more than doubled year on year,” said its CEO.
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1D
Ericsson earns Chinese 5G radio contracts - report
Ericsson has reportedly secured significant 5G radio contracts in China. A Reuters story revealed that the Swedish firm has won a 3% share in a joint 5G radio contract from China Telecom and China Unicom. Nokia, which had been expected to increase its presence, didn't receive any share. "We remain committed to continuing to support China Telecom and China Unicom," said a Nokia spokesperson.
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1D
Zoom will pay $85m to settle data privacy class action lawsuit
Zoom has agreed to settle a user privacy violation lawsuit by paying $85m. The lawsuit alleged that Zoom shared the data of millions of users with Facebook, Google and LinkedIn. Zoom also allegedly allowed third-party users to jump into Zoom calls to disrupt them, often with disturbing content. Subscribers to the class action will be eligible for 15% refunds on their core subscriptions up to $25.
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1D
Jack Dorsey's Square to buy Afterpay for $29bn
Jack Dorsey's payments company Square has announced its plans to buy Australian fintech company Afterpay in a $29bn all-stock deal. The agreement will create an instalments payment giant as the industry sees significant growth. “Square and Afterpay have a shared purpose,” Dorsey said. “We built our business to make the financial system more fair, accessible, and inclusive.”
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4D
Elon Musk's Neuralink raises $205m
Elon Musk's brain machine interface enterprise, Neuralink has completed a $205m funding round. The raise included participation from a number of high-profile backers, including Google Ventures, Peter Thiel’s Founders Fund, and OpenAI CEO Sam Altman, with funding led by Vy Capital. The funds from the round will be used to take Neuralink’s first product to market.
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4D
Qualtrics to acquire Clarabridge for $1.125bn in XM consolidation
Experience management platform Qualtrics has agreed a $1.125bn deal to acquire Clarabridge, a leader in the omnichannel conversational analytics space. Qualtrics said the deal will allow it to "tune into, analyse and act on everything customers and employees are saying". Qualtrics counts the likes of GM, Farmers, United Airlines, USAA, Bank of America, Expedia and UnitedHealthcare as customers.
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