Revolut wants to let Nik Storonsky borrow $250mn against his own shares

Revolut has asked its shareholders to let Nik Storonsky borrow up to $250mn against his stake in the company, five times what the current rules permit. The request went to investors last week as part [...]

Sachin Bansal’s Navi hires banks for a $315m IPO, four years after his first attempt stalled

Navi, the Indian fintech founded by Flipkart co-founder Sachin Bansal, has hired banks for an initial public offering of about $315m, according to a Bloomberg report. It is the clearest sign yet that [...]

Electric cars just hit a record share of China’s market. Their sales still fell

New energy vehicles took a record 65.1% of Chinese passenger car sales in July, but NEV volumes fell about 2% year on year, a seventh straight monthly decline, while the total market dropped 18%. Geel [...]

IBM bets $240m on cheap, open-source inference to take on the hyperscalers

A multi-year deal with the startup Together AI will put Nvidia Blackwell systems on IBM Cloud, and the wager is that enterprises now care more about the cost of running AI than the prestige of the mod [...]

Google Play adds Venmo as a payment option in the US. In other markets, it is testing cash.

Google Play now accepts Venmo in the United States. Users can link their Venmo account through the payment methods section in Google Play settings and use their Venmo wallet, connected bank accounts, [...]

Nvidia and Dell back AI cloud startup Volta at a $2.4bn valuation

A new company wants to be the one that pays for everyone else’s AI chips. Volta Infra Holdings has raised $300m in venture funding and lined up a further $5bn in financing to help a broader range of [...]

DeepMind won a Nobel for AlphaFold. Then it broke up the team.

Less than a year ago, AlphaFold won Google DeepMind a Nobel Prize. Now DeepMind has taken the team that built it apart. The lab has reassigned most of the original AlphaFold-paper authors over the pas [...]

DoorDash gets FAA clearance for in-house drone programme, DoorDash Air

DoorDash has won approval from the Federal Aviation Administration to run its own delivery drones, and promptly made clear that most of your food will still arrive by human. The company unveiled an in [...]

Apple raised its prices, then offered to rent you the phone instead

Apple has a new answer to the complaint that its products cost too much. Do not buy them. Lease them. On Tuesday the company launched Apple Upgrade in the US, a leasing programme run by the buy-now-pa [...]