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AI & Enterprise
AI revenue rises but profits still distant; China\'s Z.ai and MiniMax seen in loss until 2030
China\'s AI companies Z.ai and MiniMax could remain loss-making until 2030 despite rapid revenue growth, with heavy spending on computing resources seen weighing on profitability. Macquarie\'s Ellie Jiang cited a severe shortage of computing resources in China, worsened by U.S. restrictions on exports of Nvidia advanced processors. The firms\' annual recurring revenue is rising, but investors are increasingly focused on costs, margins and other valuation metrics beyond ARR.
AI & Enterprise
Mistral AI raises 3 billion euros as ASML deepens alliances
France\'s Mistral AI raised 3 billion euros, lifting its valuation to more than 21 billion euros. On the same day, ASML expanded cooperation on advanced lithography with Samsung Electronics and TSMC. The moves were linked to efforts by European companies to rebuild competitiveness in AI and semiconductors. Mistral AI said the Series D round, led by Samsung, was the largest fundraising by a European tech company.
AI & Enterprise
Mistral raises 3 billion euros led by Samsung Electronics
French AI company Mistral said on Tuesday it raised 3 billion euros in a Series D funding round led by Samsung Electronics. The investment valued Mistral at more than 21 billion euros. EQT’s Scaleup Europe Fund and existing investor PSG Equity joined as co-lead investors. Advent, BlackRock-managed funds and accounts, and the Grand Duchy of Luxembourg joined as new investors. Mistral plans to use the funds for AI R&D, computing infrastructure, product development and global expansion.
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Crypto
Korean brokerages step up tokenised securities business beyond fractional investing to bonds, funds
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Finance
Securities CEOs head to Europe to seek investment opportunities in AI, digital finance and space industry
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Crypto
XRP turns weak after 50 percent surge as banks expand their own payment networks
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Crypto
UK banks block 40 percent of bitcoin transfers, blanket rules face scrutiny
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Crypto
Singapore, Hong Kong, Japan emerge as test beds for stablecoin payment networks
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Crypto
Bank of England tests trade finance payments using stablecoins and digital pound
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Crypto
Digital Asset raises additional $10 million from Shinhan Financial, SC Ventures
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Crypto
Gold slide may spill into cryptocurrencies as rising real rates tighten liquidity
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AI & Enterprise
Zhipu builds 1-GW AI data centre using only Chinese-made chips; shares surge 37 percent
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Fintech
HSBC enters UK digital securities sandbox after Bank of England approval
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Crypto
Evernode CEO says tokenisation is only the start, assets must be managed on XRPL
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Crypto
UK bets on digital gilts, seeks up to 33 billion pounds a year in economic gains through tokenisation
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Crypto
SWIFT launches shared blockchain ledger with 17 banks to support 24/7 tokenised deposit payments
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AI & Enterprise
Magnificent 7 market value down $2.3 trillion in June as AI investment doubts grow
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Crypto
KB Kookmin Bank issues first US dollar digital bond by a Korean bank