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Latest news
DEEP TECH
Quaise raises $134M to drill superhot rock with microwaves
Quaise Energy has raised a $134M first close of Series B, led by Prelude Ventures. It plans to drill kilometres down and vaporise rock with millimetre-wave beams.
ARTIFICIAL INTELLIGENCE
SpaceX’s biggest bull sees a $10.5tn valuation. A famed bear bets on a crash
As SpaceX joined the Nasdaq 100, Raymond James slapped a Street-high $800 target on it, implying a $10.5tn value. Jeremy Grantham puts the odds of a crash at 90 per cent.
ARTIFICIAL INTELLIGENCE
SAP freezes hiring and travel to shovel cash into AI
SAP has told staff it will freeze most hiring, halt non-essential travel and cut supplier spending to fund a “significant” AI push. The memo lands with Europe’s largest software company down about 33 per cent this year, as investors worry AI will erode demand for its core products.
AUSTRALIA
New Zealand rules out a VPN ban after a fierce privacy backlash
Ministers deny the tools were ever in the frame for the under-16 social media ban, but the panic exposed how age-check laws keep drifting toward encryption
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