How past tech floats fared, and upcoming IPOs in London | Business

Amazon listed on the Nasdaq at $18 a share with a market value of $438m in 1997, when it was just an online bookseller, with 256 employees. The share price rose gradually over the years, but started to rocket in 2015 after the firm posted substantial profits. Three years later, Continue Reading

Is big tech now just too big to stomach? | Business

The coronavirus pandemic has wrought economic disruption on a global scale, but one sector has marched on throughout the chaos: big tech. Further evidence of the industry’s relentless progress has come in recent weeks with the news that Apple and Amazon both raked in sales of $100bn (£72bn) over the Continue Reading

Facebook is banning leftwing users like me – and it’s going largely unnoticed | Akin Olla | Opinion

In response to the fascist riot at the US Capitol, Facebook engaged in a flurry of dangerous and misguided corporate authoritarianism. I, along with a number of other leftwing organizers, was deemed a threat to the inauguration of Joe Biden and placed on a restricted list that limited my ability Continue Reading

UK chipmaker Graphcore valued at $2.8bn after it raises $222m | Business

Graphcore, the UK maker of chips designed for use in artificial intelligence, has raised $222m (£164m) from investors, valuing the company at $2.8bn. The Bristol-based company’s latest round of funding was led by the Ontario Teachers’ Pension Plan as well as investors including Fidelity International and Schroders. Existing Graphcore investors, Continue Reading

Cyberpunk 2077: how 2020’s biggest video game launch turned into a shambles | Games

Cyberpunk 2077, one of the most-anticipated video games of the year was released last week. A dystopian romp around a Blade Runner-inspired city, it had all the ingredients for a perfect storm of hype: it’s been nearly a decade in the making; its creator, Warsaw’s CD Projekt Red, was behind Continue Reading

Codemasters bidding war looms after £945m Electronic Arts bid | Games

British video games maker Codemasters has become the focus of a £1bn bidding war after accepting an offer from California-based Electronic Arts, scuppering a previously planned deal with US rival Take-Two Interactive, maker of franchises including Grand Theft Auto. EA, the maker of titles including Battlefield and The Sims, has Continue Reading

Tesla to raise another $5bn by selling shares | Technology

Tesla is to raise up to $5bn selling new shares, as the electric carmaker takes advantage of an almost 900% surge in its share price over the last 12 months. The move comes three months after Tesla last moved to raise $5bn, at the time its biggest issue of new Continue Reading

Elon Musk overtakes Bill Gates to be world’s second-richest person | Technology

Elon Musk has toppled Bill Gates as the world’s second-richest person, just a week after the Tesla co-founder overtook Facebook’s Mark Zuckerberg to become the third-richest. Driven by a further surge in Tesla’s share price, the 49-year-old entrepreneur’s net worth rose by $7.2bn (£5.4bn) to $127.9bn. It has soared by Continue Reading

Elon Musk set to be world’s third-richest person as Tesla shares soar | Technology

Elon Musk, the maverick chief executive of electric car company Tesla, is poised to overtake Facebook’s Mark Zuckerberg to become the world’s third-richest person after Tesla’s shares jumped 13% following its selection to join the S&P 500 index of leading US companies. The latest surge in the Tesla share price, Continue Reading

Facebook leak reveals policies on restricting New York Post’s Biden story | Technology

Facebook moderators had to manually intervene to suppress a controversial New York Post story about Hunter Biden, according to leaked moderation guidelines seen by the Guardian. The document, which lays out in detail Facebook’s policies for dealing with misinformation on Facebook and Instagram, sheds new light on the process that Continue Reading