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The Bloodhound supersonic car project is back in action
Earlier this month, it looked like the writing was on the wall for the Bloodhound supersonic car project, as it had failed to acquire the roughly £25 million (approximately $32 million) it needed to keep going. The team was said to be working on selling off its assets, including the unfinished car. But it appears the project is back in action with the Bloodhound team announcing the sale of the business and assets, which will allow the program to continue.
Apple could bring Beats 1 to broadcast radio
Apple could be set to invest in iHeartMedia, and may bring its Beats 1 station to the broadcast network as part of a deal. Discussions are in the early stages, The Financial Times reports.
Fidelity’s new firm will manage crypto trading for investors
Financial services firm Fidelity is making a move towards cryptocurrency, announcing a new company that will handle crypto investments for large-scale clients. The new company, Fidelity Digital Asset Services, will manage both trade execution and cryptocurrency custody for its investors, which, for now, will include hedge funds, endowments and family offices. "Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors," Fidelity Investments CEO Abigail Johnson said in a statement. "We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use."
Toyota will invest $500 million in Uber (updated)
Toyota plans to invest around $500 million in Uber, the Wall Street Journal reports, as the two enter an agreement to work together on driverless technologies. The publication cites sources familiar with the matter and the investment would value Uber at $72 billion. Reports surfaced earlier this month that Uber investors told the company it should consider selling off its self-driving car unit due to the substantial losses the project has racked up.
Media giants invest $1 billion in former Dreamworks exec’s ‘NewTV’
Former Dreamworks executive Jeffrey Katzenberg first touted his video startup idea, NewTV, a year ago, citing ambitious plans to secure as much as $2 billion in funding to get the idea off the ground. Just over 12 months later and he's halfway there, with the company confirming it's closed on a billion in a new funding round, thanks to heavyweight investors such as Disney, 21st Century Fox and Warner Bros.
Samsung commits $22 billion to AI, 5G and future tech
Thanks to the success of its smartphones, TVs, appliance and especially chips, Samsung is sitting on a large pile of cash. The company just announced that it will spend a lot of that to develop artificial intelligence, biopharmaceuticals, 5G wireless systems and other futuristic tech. The aim is to become more diversified and less dependent on declining smartphone and electronics markets. In total, Samsung will spend 25 trillion won ($22 billion) over the next three years, as part of an overall 180 trillion won ($160 billion) plan.
Investment in renewable energy drops as fossil fuel use rises
Global investment in renewable energy is on the decline, according to the International Energy Agency (IEA). The energy watchdog says there's a significant contradiction between the statements governments make regarding their attitudes to renewables, and the tangible action being taken. Investment fell by seven percent to $318bn last year.
Uber will let users rent Lime scooters through its app
Lime is teaming up with Uber to let you rent electric scooters through the ridesharing giant's app. Uber is also investing in Lime as part of a $335 million funding round led by Google parent company Alphabet's venture capital arm GV that takes Lime into unicorn territory with a $1.1 billion valuation. The company will use the investment to buy tens of thousands more scooters.
Alphabet invests in Lime's electric scooter service
You didn't think Silicon Valley's biggest names would stand on the sidelines while the electric scooter trend continued to grow, did you? The Financial Times sources have learned that Alphabet has invested directly in scooter service Lime as part of a larger $300 million funding round that already included Google Ventures. There's no mention of how much cash was heading Lime's way, but GV was reportedly leading the group, and Alphabet put in a similar amount -- there's a lot of money involved. It's not certain why Alphabet is so heavily involved (all the parties involved have declined to comment). However, it would reflect Alphabet's growing interest in transportation as it moves beyond the internet and mobile businesses that are its lifeblood.
Google invests in OS that will put its Assistant on feature phones
Google has just invested $22 million in KaiOS, the company that built an app-packed operating system for feature phones. The move, which gives Google access to previously-untapped markets, will see KaiOS integrate Google services such as maps, Assistant, YouTube and search into devices, which are considered mid-point phones between basic phones and smartphones.
SoftBank pours $2.25 billion into GM's self-driving car division
SoftBank hasn't been shy about its interest in smart cars, and it's taking that fascination to a new level. The company's Vision Fund is investing $2.25 billion in GM's self-driving vehicle unit Cruise. The cash influx will start with $900 million the moment the transaction closes, and will finish with $1.35 billion once the completely driverless Cruise AV car is ready to launch. The move will give the Vision Fund a 19.6 percent stake in Cruise -- not enough to take control, but it could easily prove influential.
Sony says it’s the beginning of the end for PS4
The PS4 era is entering its final stages. Speaking to investors, PlayStation boss John Kodera outlined the company's three-year roadmap and it seems console sales are not expected to be a major source of revenue going forward. This is largely due to declining sales which is, Kodera notes, typical of the usual profit- and life-cycle of consoles. It does also suggest a new console might be on its way -- likely the PS5 -- but Kodera didn't give away any specifics.
NASA's latest tech investments include shapeshifters and biobots
NASA is no stranger to backing unusual technology if it'll help with exploring the cosmos, and its latest move is proof of that adventurous mindset. The administration has invested in 25 "early-stage" tech proposals that could improve both human and robotic exploration, and some of them are particularly inventive. The Shapeshifter concept you see above, for instance, envisions a horde of robots that combine into different forms to explore virtually every surface on Saturn's moon Titan. It could form an aircraft for high-altitude missions, a ball on the ground or a torpedo for under-liquid expeditions.
Airbnb is investing $5 million to expand Experiences in the US
While Airbnb's focus will always likely be home rentals, it has big plans to grow Experiences this year. It's investing $5 million into expanding Experiences to 200 cities (from 50) across the US in an effort to entice more people to get up and travel. In its announcement, the company shared some growth figures related to the feature: It said global weekly guest booking are up over 2,000 percent since last year and that the number of Experiences are up by 500 percent. It now has 4,000 Experiences on offer around the world and 1,000 across 50 cities in the US.
Atari wants your help to make 'RollerCoaster Tycoon' for Switch
How badly do you want a version of RollerCoaster Tycoon for the Nintendo Switch? Bad enough that you'd be willing to claim a direct stake in the game's success? If so, Atari has a sales pitch for you. The company's Game Partners division (tasked with making money from classic franchises) has launched a crowd investment campaign to raise money for a Switch port of the theme park construction title. Pour at least $250 into the project and you get a pro rata (proportionate) share of 50 percent of profits until you recoup 120 percent of your investment, and then a pro rata 25 percent share of profits for the 18 months following the game's worldwide launch. Ideally, you'd actually make money from backing the game's release.
Google is helping a Chinese game streaming platform go global
Google's search engine might be banned in China, but it's been finding more and more ways to establish its presence in the country. Its latest effort is leading a $120 million investment in Chushou, a Chinese online e-sports platform that specializes in mobile game livestreams. The website is already pretty big, with 8 million users and as many as 250,000 livestreams a day, and it's unclear what percentage of total funding came from Google. According to CNBC, though, the big G will help the platform grow even bigger, more international, in order to make it look more inviting to potential users outside China.
Bitcoin is failing as a currency
It's been a good year for bitcoin investors but a terrible one for those who hoped that the cryptocurrency would become the de facto tender for the internet. Satoshi Nakamoto, its creator, may be dismayed at what has become of the project, intended as peer-to-peer electronic cash that didn't require the supervision of banks. Instead, bitcoin has become an investment vehicle, embraced by many on Wall Street, an asset class like every other. For all the success of the blockchain and bitcoin's soaring value, it's clear that Nakamoto's original vision has failed.
Apple invests $390 million into Face ID and AirPod tech
Apple has made another investment with its Advanced Manufacturing Fund (AMF), awarding Finisar $390 million. If the name doesn't sound familiar, its work will. Finisar is the company behind the iPhone X's Face ID, Animoji and Portrait mode for selfies -- all of which rely on vertical-cavity surface-emitting lasers (VCSEL). It's also responsible for your AirPods' proximity sensing tech. The investment means Finisar will set up shop in a 700,000 square-foot manufacturing facility in Texas in addition to expanding its research and development team.
Tech incubator Y Combinator severs ties with Peter Thiel
It's safe to say that Peter Thiel's relationship with the tech industry has been... contentious. His wealth and willingness to invest have made him highly influential, but his eagerness to stifle media criticism and (at least for a time) support President Trump have put him at odds with a Silicon Valley culture that values things like immigration and renewable energy. However, it looks like he won't play as large a role as he once did. Gab and BuzzFeed News have discovered that Y Combinator, the primarily tech-focused startup incubator, quietly cut ties with Peter Thiel. His 2015 introductory post at Y Combinator now includes a message saying Thiel is "no longer affiliated" with the accelerator. It's not certain when this happened, but modifications to the post's web code last took place on October 30th.
Bill Gates firm puts $80 million behind ‘smart city’ in Arizona
One of Bill Gates' firms invested $80 million into nearly 25,000 acres of land west of Phoenix, Arizona to build a 'smart city' of the future. The proposed community, called Belmont, will have high-speed communications infrastructure, autonomous cars and data centers. In short, a hyper-connected place suitable for new companies to set up shop in.
