Mistral has raised €3bn in a Series D at a post-money valuation of more than €21bn, which the company says is the largest equity fundraising ever completed by a European technology firm. Samsung Electronics led the round, three years after the Paris co…
The man who wrote the UK’s AI Opportunities Action Plan is leaving the government research agency he chaired. He announced it five days after taking a job at Anthropic. The resignation itself is not the interesting part. The arrangement it undoes had a…
Deutsche Telekom, Orange, Vodafone and Telefónica are in early talks to form a consortium that would bid for European satellite spectrum and offer calls, texts and data to ordinary phones from orbit, Bloomberg reported on Monday. The service would comp…
Belgian prosecutors have held a 52-year-old man in pre-trial detention since 10 May on suspicion of passing chip-making secrets to China. He holds Belgian and Chinese nationality. Police arrested him at Brussels Airport as he was about to board a fligh…
Uforce, the London-based drone company built from Ukrainian battlefield manufacturers, is in talks to raise about $500m at a valuation of around $5bn, Bloomberg reported on Monday. Valor Equity Partners, the firm run by SpaceX board member Antonio Grac…
The number that matters in Monday’s Jaguar Land Rover announcement is not 4,000. It is 300,000. That is the annual sales volume at which the company now intends to break even. Its brands have historically sold well over 400,000 vehicles a year. Just Au…
The investment case for Cato is unusual. Most software sells on the promise of making a hard thing easy. Cato’s backers are betting that a hard thing stays hard. The Milan startup has raised €6m in seed funding to sell AI to companies bidding for Itali…
A German company designs the robot. An Italian company builds the board that goes inside it. An American company designs the chip that goes on the board. That is the European Physical AI stack as it actually exists. On Monday, two thirds of it signed a…
For two years the AI story in banking has been a headcount story. How many graduates a bank takes, and how many it quietly stops taking. UBS has changed the question. It is no longer asking how many juniors it needs. It is asking what a junior has to b…
France and Germany spent the summer agreeing that Europe needs its own battlefield AI. They have not agreed on whose it should be. Internal German government notes seen by Politico Europe show Berlin is wary of Arcadia, the French-built Palantir rival….