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Coates argues he’s eligible for these benefits because the SaudiArabia investment triggered a “Change in Control” clause in his agreement with Lucid Motors because it resulted in “a change in the majority shareholder of the Company,” according to an email from his lawyer to the startup sent last year. The company declined to comment.
The Financial Times reports that SaudiArabia has bought at least 3,000 Nvidia H100 GPUs, which Nvidia CEO Jensen Huang calls the first chip designed for generative AI. With its 14,592 CUDA cores, 80GB of HBM3 capacity, and 5,120-bit memory bus, it's priced at a massive $40,000. Read Entire Article
For 20 years, the global communications firm Edelman has studied the influence of trust across government, media, business, and nongovernmental organizations (NGOs). Here are five takeaways about global trends in the public’s trust in NGOs: 1. In China, however, the level of trust in NGOs fell significantly from the previous year.
The startup has also expanded to SaudiArabia, where it will be headquartered henceforth, after raising $1.2 This latest round had the participation of Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund and Saudi angel investor Faisal AlAbdulsalam. million seed funding. seed funding.
What it means is that the Air was designed by people who claim to have intimate knowledge of Tesla’s path to global EV domination. Unlike other so-called “Tesla killers,” though, Lucid Motors has wealthy backers and global reach to successfully challenge Musk. And it will benefit Saudi society.”. It’s a strategic partnership.
The company announced Thursday alongside its first-quarter earnings report that it was raising prices of the variants of its luxury Air sedan, beginning June 1. “Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China.
Chinese electric vehicle maker Human Horizons is reportedly in discussions with the Public Investment Fund, SaudiArabias sovereign wealth fund, to secure at least $250 million at a valuation of $3 billion, according to Bloomberg sources. billion with the six-year-old automaker. billion with the six-year-old automaker. Bloomberg ]
Riiid has said it will continue to fuel its global expansion with the funding. . This acquisition is the first step in an inorganic strategy to ultimately apply Riiid’s AI technology to the global market and help more learners around the world.” . year on year, based on a report by Yano Research Institute. .
Huawei Technologies has inaugurated a cloud data center in Riyadh, the capital of SaudiArabia, according to a September 4 report by Reuters. This marks Huaweis 30th cloud data center globally, the report said. In the global cloud services market for the first quarter, Huawei held the fifth position with a 2.4%
Per a recent report by Bain & Co., and Middle East VC firm Silicon Badia led the round , with participation from 4DX Ventures, Plug and Play Ventures, Wealth Well VC, Khwarizmi VC, as well as other regional and global investors. . This is the main target for us now and also to start operations in SaudiArabia.”
As of 2020, it was operating in 50 cities across Egypt, SaudiArabia, Jordan and Lebanon and claimed its userbase had grown 3x year-over-year to 4 million patients, with 30,000 healthcare providers using its software-as-a-service solution. Vezeeta has almost 500 employees, according to its LinkedIn page. .
Chinas food delivery giant Meituan is hiring Arabic- and English-proficient talent for its likely entry into Riyadh, the capital of SaudiArabia, as the company puts expansion beyond China on its agenda as domestic consumption falls.
The Middle East is becoming a major supporter of Chinese EV makers as the Gulf region, known for its oil and gas riches, looks to diversify the economy in preparation for a global transition to green energy. SaudiArabias Ministry of Investment is set to invest $5.6 SaudiArabias Ministry of Investment is set to invest $5.6
This downsizing from the Dubai-based startup adds to the long list of global cross-stage layoffs in what has been a rough month for tech employees. alone according to reports. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, SaudiArabia, Jordan and Pakistan.
The startup is in talks with Apollo Global Management to merge with the private equity firm’s publicly-listed “blank check” company, known as Spartan Energy Acquisition Corp. and Apollo Global Management was first reported by Reuters. In fact, Fisker Inc. News of the talks between Fisker Inc.
When it raised in September, Jeeves — which describes itself as “an all-in-one corporate card and expense management platform for global startups” — was valued at $500 million. As TechCrunch has reported on extensively, the number of startups tackling corporate spend and expense management continues to grow.
I just had to take that chance." - Jensine Larsen Jensine Larsen is the Founder and CEO of World Pulse , a global media and communication network devoted to bringing women a global voice. Jensine Larsen: World Pulse is a global media enterprise fully devoted to bringing women a global voice.
Latest global social, digital, mobile data for ya : his report presents all the key statistics, data and behavioural indicators for social, digital and mobile channels around the world. For other reports in this series, please visit [link] H/T to Social Fish'
On March 25, PitchBook released its 2021 Annual Fintech Report , which found that the fintech industry raised $121.6 billion last year — up 153% year-over-year in terms of global VC deal value. Alex and I will be doing a deep dive on that report next week, but it’s a nice lead-in to what I’m examining today.
Some of the stories have been shocking, with allegations that fully updated smartphones can be hacked with a single text message , and reports that two women close to murdered journalist Jamal Khashoggi were among those targeted by a government agency using the spy tool. But many crucial details still aren’t clear. Who was being spied on?
Few Chinese automakers have succeeded yet at globalization, but JETOUR is thriving as a multinational by trying a delicate strategy that only a very flexible, forward-thinking enterprise with a strong sensitivity to consumer needs can accomplish, which distinguishes it from many of its peers.
TC’s Sarah Perez reports that “ PayPal is expanding further into the charitable donations business with its August 25 launch of support for Grant Payments. Rowe Price reduced the value of its stake in Stripe, part of its Global Technology Fund, the latest reduction in its worth is not unique. However, while it is true that T.
The reasons were unclear, as both parties didn’t publicly comment on the situation; however, from various local news outlets, they ranged from mismanagement of funds to failure to report to the board and work out a potential merger, as well as internal disagreements over management methods.
They also inspired hundreds of other BBC content-creating teams to join them in what has globally become 50:50 The Equality Project. They simply knew that for journalism to be of the highest quality, it needed to represent the world they reported on. They tweaked their everyday ways of working to better deliver on that goal.
And on Wednesday, Bloomberg reported that the majority of the focus will be on the Amazon vans in the early going. In Lucid Motors’ case, it found salvation and the necessary funding by handing over ownership of the company to SaudiArabia.
Fostering financial inclusion A 2022 report by research firm DinarStandard and fintech Ellipses estimates that the market size of Islamic fintech in the Organisation of Islamic Coorporation (OIC) countries was $79 billion in 2021, making up 0.83% of global fintech transaction volume. CAGR by 2026, outpacing traditional fintech’s 13.5%
Yaccarino will be leaving her role as chairman of Global Advertising & Partnerships at NBCU. X opens up its ad revenue sharing program globally The company announced its “Ads Revenue Sharing” program is now available for eligible creators globally. X also changed its App Store tagline from “Let’s talk.”
Through a global network operating in nine countries across the MENA region, EFE trains young people with the skills necessary to succeed in work and life and then matches the next generation of ready-to-work talent with businesses in need of qualified employees. . It’s been a real game-changer for us.
Meituan, Chinas local services platform, is accelerating its global expansion with a renewed focus on grocery retail, international markets, and artificial intelligence, CEO Wang Xing announced in a recent internal meeting. Meituans overseas food delivery platform, Keeta , is rapidly expanding in SaudiArabia.
Ford reported a multibillion dollar loss in the first-quarter due to an eye-popping write-off on the value of its stake in Rivian, an EV company that has seen its stock drop by nearly 70% since its IPO. In a separate yet related note, Amazon also reported a massive loss due to its Rivian holding.
These moves and many others come as President Donald Trump and his appointees seek to eliminate federal government programs that tackle global warming. In an exclusive interview with Modern CEO , Hackenberg underscored the foundations commitment to addressing global challenges such as climate change, pollution, and biodiversity loss.
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