Credit Suisse’s legal bid to recover Greensill losses from Softbank fails Legal Swiss lender Credit Suisse has failed in its attempt to recover $440m from Softbank following the collapse of financial firm Greensill Capital. Credit Suisse – now UBS – was hit hardest by Greensill’s collapse, owing to its significant exposure through various funding and investment vehicles. Greensill Capital, founded by Alexander (Lex) Greensill, went under in [...]
US Stargate expansion highlights UK’s modest AI ambitions Tech OpenAI, Oracle, and SoftBank have unveiled plans to construct five new AI data centres across the US as part of the expansive $500bn (£370bn) Stargate project. This initiative aims to achieve 10 gigawatts of compute capacity by the end of 2025, with the latest expansion bringing the total to nearly seven gigawatts and over $400bn [...]
Credit Suisse seeks $440m Greensill Capital losses from SoftBank Legal Four years after Greensill Capital collapsed, Swiss lender Credit Suisse's $440m legal battle against SoftBank is set for showdown at London's High Court
Wayve: Nvidia, Uber and Softbank backed EV startup set for global expansion March 3, 2025 British artificial intelligence (AI) startup Wayve, which develops autonomous vehicle systems, has announced plans to accelerate its international expansion by launching a new hub in Stuttgart, Germany. Backed by tech giants Uber and Softbank, the self-driving firm is testing its AI-powered self-driving tech in Germany and the US and plans to secure partnerships with various automakers. [...]
Hundred: Sale of franchise stakes could value cricket league at £700m January 29, 2025 English cricket is set for a major financial boost with the Hundred sale, which enters its final round of bidding, expected to value the eight franchises at as much as £700m. That figure is double the sum the England and Wales Cricket Board rejected from Bridgepoint for the whole tournament in 2022 and would therefore [...]
Trump launches $500bn AI investment round with big tech bosses January 22, 2025 Donald Trump announced a “monumental” round of investment in artificial intelligence infrastructure, backed by some of the biggest tech firms in the US. OpenAI’s Sam Altman and Oracle’s Larry Ellison, appeared with President Trump in the White House yesterday to unveil the Stargate Project. The company will start with an initial $100bn investment round to [...]
Nvidia and Softbank team up to build new AI supercomputer November 13, 2024 Nvidia announced its partnership with Softbank to build a Blackwell-powered AI supercomputer, as Japan seeks to get ahead in the AI arms race.
Softbank snaps up Graphcore in AI push July 12, 2024 British chipmaker Graphcore has been snapped up by Softbank.
Wayve: Loss widens at British AI darling backed by Nvidia, Microsoft and Softbank June 12, 2024 Wayve, the British artificial intelligence (AI) start-up that secured an investment of more than £800m recently, saw its losses pass £40m during its latest financial year.
Softbank to invest $9bn in pivot to AI May 27, 2024 Japanese tech company Softbank is to invest almost $9bn in artificial intelligence, as it pivots away from its traditional venture capital model of investing. Softbank became known globally for its flagship Vision Fund, investing in pie in the sky companies which occasionally translated to a massive win. Most famously, the company invested a staggering total [...]