ASML orders up 24%, China still the biggest market despite restrictions

Jul17
by on July 17, 2024 at 2:46 pm
Posted In: Uncategorized


While this year thus far has been less profitable for ASML, the tech giant saw orders for its chip making machines increase again over the past three months. According to the company’s earnings report for the second quarter of 2024, net bookings (i.e. orders) reached €5.6bn — rising over 24% year-on-year. A significant chunk consisted of orders for ASML’s EUV machines, which accounted for €2.5bn. The Dutch company is the world’s sole manufacturer of these Extreme Ultraviolet (EUV) lithography machines which produce the most high-end chips, such as the ones used for AI. The rise in EUV orders is in…

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Yandex founder launches new Amsterdam-based AI venture after Russia divestment

Jul16
by on July 16, 2024 at 5:12 pm
Posted In: artificial intelligence


Yandex founder Arkady Volozh is building a cloud service platform for developers to train artificial intelligence models. Named Nebius Group, the company says its aim is to become a European global leader in AI infrastructure.  The launch follows news from yesterday that Yandex had successfully sold its Russian assets in a $5.4bn deal, in what constitutes the largest corporate exit from the country since the start of the full-scale invasion of Ukraine over two years ago.  Yandex was a rare Russian tech success story. The most talented developers in the country came together to build a company that went on…

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UK solar tech scaleup Naked Energy raises £17M for global expansion

Jul15
by on July 15, 2024 at 2:45 pm
Posted In: Uncategorized


UK-based Naked Energy has raised £17mn in a Series B round to boost the global expansion of its solar tech solutions. Founded in 2009, Naked Energy set out to help decarbonise heat generation, which contributes over 40% of global CO2 emissions. The scaleup has developed a pair of modular solar collectors, called Virtu. It claims they are four times more efficient at offsetting emissions compared to conventional solar PV panels. The VirtuHOT collector uses solar thermal technology to heat water from the power of the sun to up to 120°C. The VirtuPVT collector combines solar thermal technology and photovoltaics (PV)…

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Can Ariane 6 turn Europe’s spacetech startups into global powerhouses?

Jul12
by on July 12, 2024 at 5:07 pm
Posted In: Insider


When Ariane 6 suffered a glitch on its first flight, the mishap felt strangely inevitable. Nearly half of all rockets fail on their first launches. After a troubled development and four years of delays, Ariane 6 looked like a prime candidate to join the list.  The launcher was commissioned to create a European pathway into the cosmos. Since the retirement of Ariane 5 last July, the continent has had no independent access to space. Thierry Breton, the EU’s commissioner for the internal market, described the problem as an “unprecedented crisis.” A failure to launch on Tuesday would have deepened the woes.…

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SoftBank snaps up troubled British AI chip developer Graphcore

Jul12
by on July 12, 2024 at 11:09 am
Posted In: artificial intelligence


Japanese tech group SoftBank has acquired yet another British chip player. This time it has snapped up Bristol-based AI processor developer Graphcore, whose very survival was in doubt over the past year.  The acquisition comes as investors compete to back the next big thing in AI. Moreover, larger tech companies who feel that their own in-house AI capabilities are falling short have been searching high and low for acquisitions that can mitigate these inadequacies and give them a leg up on the competition. And it would seem they are increasingly looking to Europe for potential targets.  Just this week, the…

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