Battery Ventures has closed a $3.25bn oversubscribed fund to invest in software, AI, cybersecurity and industrial tech across the US, Europe and Israel.
Category: AI
Artificial intelligence coverage with the Business Matters filter: not the hype cycle, but what AI adoption actually looks like inside UK firms – the tools, the costs, the failures, and the regulation heading down the track.
Alphabet ramps up AI spending with up to $185bn capital plan
Alphabet plans to spend up to $185bn this year as it accelerates AI investment, reporting strong fourth-quarter results but facing investor scrutiny over soaring costs.
Mozart AI raises $6m to put artists at the heart of AI-powered music creation
London-based Mozart AI has raised $6m in a seed round led by Balderton Capital as it accelerates growth of its AI-powered music creation platform and launches a mobile app.
Fractile commits £100m UK expansion as it ramps up AI chip development
UK chip start-up Fractile is investing £100m to expand operations in London and Bristol, backing Britain’s push for sovereign AI hardware and more efficient inference chips.
AI energy start-up Tem raises $75m to cut business power bills
London-based energy tech firm Tem has raised $75m in funding led by Lightspeed Venture Partners as it uses AI to cut business electricity bills by removing wholesale market intermediaries.
Barclays to lean on AI as it targets £2bn cost cuts and £15bn capital return
Barclays plans to cut £2bn of costs over three years and ramp up the use of AI as it targets more than £15bn of capital returns to shareholders by 2028.
Innovate UK awards £300k grant to boost AI-led early detection of hospital infections
Innovate UK has awarded more than £300,000 to Exeter HealthTech Research Centre and Sanome to advance MEMORI, an AI platform designed to detect hospital-acquired infections days earlier.
Andrew Bailey warns AI training is critical to future of UK jobs
Bank of England governor Andrew Bailey says training workers in AI skills will be critical as artificial intelligence begins to disrupt jobs, vacancies and financial markets.
Lawhive raises $60m to scale AI-native consumer law firm across the US
UK legaltech Lawhive has raised $60m in Series B funding to expand its AI-native consumer law firm across the US, surpassing $35m in annualised revenue.
AI voice company ElevenLabs valued at $11bn after $500m funding round
UK-based AI voice company ElevenLabs has raised $500m in new funding, tripling its valuation to $11bn as demand for human-like AI voice technology accelerates.
UK invests £36m in AI supercomputer to boost research and startup innovation
The UK Government has announced a £36m investment to expand Cambridge’s DAWN AI supercomputer, giving researchers and startups free access to advanced computing power.
Pinterest sacks engineers after internal tool exposed laid-off staff during AI-driven cuts
Pinterest has dismissed two engineers who created software to identify colleagues made redundant as the company cuts 15% of jobs and shifts further towards AI.
Women in tech and finance face higher risk of AI job losses, City of London report warns
Women working in technology and financial services are at greater risk of losing their jobs to artificial intelligence and automation than men, according to a new report from the City of London Corporation.
Barnsley named UK’s first ‘tech town’ as US giants back AI rollout
Barnsley has been rebranded as the UK’s first “tech town”, with Microsoft, Google, Cisco and Adobe backing a government-led AI rollout across schools, healthcare and local businesses.
ICO opens formal investigation into Grok AI over data protection and harmful imagery concerns
The Information Commissioner’s Office has launched formal investigations into X Internet Unlimited Company and X.AI over their handling of personal data in connection with the Grok artificial intelligence system.
