Fuse Energy, founded by ex-Revolut executives, is raising $100 million at a $5 billion valuation just four months after its last round. The company serves 200,000 UK households and generates $300 million in annual recurring revenue through cheap power and renewable assets.
Ananym Capital, founded just last month, is calling for Baker Hughes to separate its oilfield services unit. The activist investor argues this could unlock significant shareholder value and boost the stock by at least 60%.
This week saw major strategic moves across the tech landscape. From billion-dollar acquisitions to AI-powered platform launches, companies are aggressively positioning for the future.
US manufacturing activity slowed to a four-month low in November as higher prices from import tariffs restrained demand. The manufacturing PMI dropped to 51.9 while inventories hit record highs, signaling potential production cuts ahead.
With AI transforming the economy and displacing workers, there’s growing discussion about implementing AI-specific taxes. The most practical approach would target key inputs like energy consumption, chips, or compute time. This could help fund retraining programs and social safety nets.
X, formerly Twitter, has seen its user base stagnate under Elon Musk’s ownership. Pew Research data shows usage among Americans remained nearly flat while competitors like TikTok and Instagram grew. The platform lost significant ground with young users aged 18-29.
Five female tech founders from across Africa have won $100,000 in equity-free grant funding from Naspers and Prosus. The winners span agritech, healthtech, climate tech, and AI sectors, selected from 1,163 applications across the continent.
The United Arab Emirates is making a massive CAD$70 billion commitment to Canadian artificial intelligence and energy infrastructure. This represents one of the largest foreign investment announcements in Canada’s technology and resources sectors.
Federal regulators have dropped their investigation into Equinix following short-seller allegations of accounting manipulation. The SEC concluded its probe without recommending enforcement action. Equinix had previously settled a shareholder lawsuit for $41.5 million related to the same allegations.
Amazon’s record 14,000+ layoffs hit engineering roles hardest, with nearly 40% of cuts affecting technical positions. The company continues CEO Andy Jassy’s push to operate like “the world’s largest startup” while facing industry-wide tech job reductions.
