Startups & Business Archives

BUSTED: Nate CEO’s AI Dream Was a Human-Powered FICTION! Investors SCAMMED!

14Apr No Comments

Startups & Business

BUSTED: Nate CEO’s AI Dream Was a Human-Powered FICTION! Investors SCAMMED!

A fintech startup, nate, once boasting about its AI prowess and securing a whopping $40 million in funding, is now facing serious allegations. Federal prosecutors claim the company was built on smoke and mirrors, allegedly deceiving investors with promises of cutting-edge AI while secretly relying on human workers. Albert Saniger, the 35-year-old founder and former CEO, stands accused of orchestrating a scheme to defraud investors by making false statements about nate's AI capabilities. The nate app, marketed as an e-commerce solution streamlining online shopping with a single AI-powered tap, was allegedly far from the AI marvel it claimed to be. Saniger reportedly lured investors with promises of custom-built "deep learning models" capable of lightning-fast transactions. However, the ind...

AI Powerhouse: xAI, Nvidia, BlackRock’s $30B Investment

20Mar No Comments

Robotics & AI, Startups & Business

AI Powerhouse: xAI, Nvidia, BlackRock’s $30B Investment

Elon Musk’s xAI and Nvidia have joined BlackRock, Microsoft, and Abu Dhabi’s MGX in a $30 billion AI Infrastructure Partnership, aiming to expand to $100 billion. This initiative focuses on building AI data centers and energy-efficient solutions to support the increasing computational demands of artificial intelligence. The partnership highlights AI’s growing need for high-performance infrastructure, with Abu Dhabi playing a key role in funding. Companies like GE Vernova and NextEra Energy are also involved in developing sustainable energy sources for these AI facilities. The move follows Microsoft’s $80 billion investment in AI infrastructure and SoftBank’s $100 billion “Stargate” project. With AI becoming more advanced, this collaboration underscores the race to create the ne...

18Mar No Comments

Startups & Business

Alphabet Acquires Wiz for $32 Billion!

Tech giant Alphabet has announced the acquisition of cybersecurity startup Wiz for $32 billion in cash, marking the largest deal in the company’s history. This acquisition aims to enhance Google Cloud’s security infrastructure and strengthen its competitive position against industry leaders such as Microsoft and Amazon. Founded in 2020, Wiz specializes in AI-powered cloud security solutions and has experienced rapid growth. The company generated $350 million in revenue last year and is expected to reach an annual recurring revenue of $1 billion by 2026. Alphabet’s purchase price is significantly higher than Wiz’s previous valuation of $12 billion, raising concerns among investors. Following the announcement, Alphabet’s stock dropped by more than 2%, reflecting skepticism over...

ICBC Launches $11 Billion Tech Innovation Fund to Boost China’s Private Sector

12Mar No Comments

Startups & Business

ICBC Launches $11 Billion Tech Innovation Fund to Boost China’s Private Sector

The Industrial and Commercial Bank of China (ICBC), the world's largest commercial lender by assets, has announced the establishment of an 80 billion yuan ($11.04 billion) technology and innovation fund aimed at bolstering the private sector. This fund is strategically directed towards "hard technology" sectors, including semiconductors and advanced manufacturing, rather than "soft" technology areas like internet services. Liao Lin, ICBC's chairman, emphasized that the bank intends to transform supportive policies from central leadership into tangible actions that benefit private enterprises. He described the fund as "patient capital," indicating a focus on long-term investments over immediate returns. This initiative aligns with China's recent policy priorities outlined duri...

TSMC and Trump Announce $100 Billion U.S. Semiconductor Expansion

4Mar No Comments

Startups & Business

TSMC and Trump Announce $100 Billion U.S. Semiconductor Expansion

In a landmark move to bolster U.S. semiconductor manufacturing, Taiwan Semiconductor Manufacturing Company (TSMC) has announced a $100 billion investment to construct five new facilities across the United States. This initiative, unveiled by TSMC CEO C.C. Wei alongside President Donald Trump at the White House, includes three advanced chip fabrication plants, two packaging facilities, and a significant research and development center. The investment aims to reduce U.S. reliance on Asian semiconductor production, addressing national security concerns and strengthening domestic supply chains. President Trump emphasized the strategic importance of this development, stating, "We must be able to build the chips and semiconductors that we need right here." This expansion builds upo...

TSMC CEO to Meet with Trump to Discuss $100 Billion U.S. Investment Plan

3Mar No Comments

Startups & Business

TSMC CEO to Meet with Trump to Discuss $100 Billion U.S. Investment Plan

TSMC CEO C.C. Wei is scheduled to meet with President Donald Trump to discuss the company's enhanced investment plans in the United States. This meeting aims to solidify TSMC's commitment to expanding its semiconductor manufacturing footprint in the U.S., addressing both economic and national security considerations. In April 2024, TSMC announced plans to increase its U.S. investment from $65 billion to $100 billion, which includes the construction of a third Arizona fabrication facility by 2030. This expansion is supported by up to $5 billion in low-cost government loans. The U.S. government has already provided $6.6 billion in subsidies for TSMC's semiconductor production in Phoenix, Arizona, under the CHIPS and Science Act. Despite President Trump's previous criticisms of the ...

SoftBank Seeks $16 Billion Loan to Fuel AI Investments

2Mar No Comments

Robotics & AI, Startups & Business

SoftBank Seeks $16 Billion Loan to Fuel AI Investments

SoftBank Group Corp., under the leadership of CEO Masayoshi Son, is reportedly negotiating a $16 billion loan to bolster its investments in artificial intelligence (AI), according to sources cited by The Information. The Japanese conglomerate is also considering an additional $8 billion loan in early 2026 to further its AI ambitions. In January, reports indicated that SoftBank was in discussions to invest up to $25 billion in OpenAI, the company behind ChatGPT, signaling a strategic move to deepen its involvement in the AI sector. This prospective investment would supplement the $15 billion SoftBank has already committed to Stargate, a joint venture with Oracle and OpenAI, aiming to invest up to $500 billion to maintain U.S. leadership in AI amidst global competition. The Sta...

Intel Delays $28 Billion Ohio Chip Factories to 2030 Amid Market Adjustments

28Feb No Comments

Future Technology, Startups & Business

Intel Delays $28 Billion Ohio Chip Factories to 2030 Amid Market Adjustments

Intel has announced a significant delay in its $28 billion semiconductor manufacturing project in New Albany, Ohio. Originally slated to commence operations in 2025, the first of two chip fabrication plants is now projected to be completed by 2030, with production starting between 2030 and 2031. The second facility is expected to follow, becoming operational by 2032. This postponement is attributed to Intel's strategic decision to align its manufacturing capabilities with current market demand and to manage capital expenditures prudently. Naga Chandrasekaran, Intel's Executive Vice President, emphasized the company's commitment to financial responsibility, stating that construction will continue at a moderated pace, with flexibility to accelerate if customer demand increases. ...

Microsoft Invests in Veeam Software to Advance AI-Powered Data Protection

25Feb No Comments

Robotics & AI, Startups & Business

Microsoft Invests in Veeam Software to Advance AI-Powered Data Protection

On February 25, 2025, Microsoft announced an equity investment in Veeam Software, a leading provider of data backup and recovery solutions. This strategic partnership aims to develop advanced artificial intelligence (AI) products that enhance data protection and recovery capabilities. Veeam's software specializes in rapid data restoration following cybersecurity incidents, such as ransomware attacks or accidental data loss, with features like immutable backups to prevent unauthorized data modifications. The collaboration will focus on integrating Microsoft's AI services into Veeam's offerings, emphasizing joint research and development efforts. This move builds upon their existing relationship, including a five-year partnership established in March 2024 to innovate data protection solution...

Apple’s $500 Billion U.S. Investment: 20,000 New Jobs and a Boost for Domestic Innovation

24Feb No Comments

Future Technology, Startups & Business

Apple’s $500 Billion U.S. Investment: 20,000 New Jobs and a Boost for Domestic Innovation

Apple has unveiled an ambitious plan to invest $500 billion in the United States over the next four years, aiming to bolster its domestic operations and create approximately 20,000 new jobs, primarily in research and development. This strategic move includes the construction of a 250,000-square-foot manufacturing facility in Houston, Texas, dedicated to producing servers for Apple's AI suite, Apple Intelligence. The Houston plant is slated to open in 2026 and is expected to generate thousands of jobs. In addition to the Houston facility, Apple plans to double its Advanced Manufacturing Fund to $10 billion, focusing on fostering high-skilled manufacturing roles. The company will also establish a manufacturing academy in Detroit, offering free courses in project management and manufac...