Category Archives: Technology sector

Billionaire Mukesh Ambani launches India’s biggest-ever IPO

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Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on Wednesday

India’s second-richest man, Mukesh Ambani, is launching what could be the country’s biggest-ever initial public offering (IPO), despite a stock market downturn.

Mumbai-based Jio Platforms, a telecoms company backed by Meta Platforms and Google, is hoping to raise up to 302bn rupees (£2.4bn) and is targeting a 10.3tn rupeesvaluation when it floats on the stock market from Wednesday.

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Tech market sell-off deepens amid fears over US inflation and AI debt

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Chip makers and tech investors such as Samsung and SoftBank plunge as potential interest rate hikes spook markets

An accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector.

South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points.

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Rent-tech platforms sidestepping credit card surcharge ban with new fees and paid ‘memberships’

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Tenants encouraged to seek free options after online property platforms respond to Reserve Bank’s credit card payment reform

Online property management platforms are charging renters new fees or pushing them on to paid “memberships” to avoid processing costs associated with card payments in the wake of the ban on surcharges.

Tenants have been encouraged to challenge or bypass additional fees charged by so-called rent-tech platforms, including in Victoria, where fees on rent payments are banned.

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We need ‘right to intervene’ in AI amid growing threat, says Bank of England boss

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Andrew Bailey’s comments come as fears grow that rogue models could take financial system hostage

The governor of the Bank of England has said authorities must retain the “right to intervene” in the AI industry amid growing fears that rogue models could take the financial system hostage.

Andrew Bailey said the risks posed by the rapid advancement of frontier AI models – a number of which have gone rogue in recent months – were “real and increasingly significant” and reduced the ability of society to supervise and intervene when things went wrong.

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Rogue OpenAI agent that hacked startup tried to attack other firms

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ChatGPT developer says activity by autonomous tool was not at severity or scale of what occurred at Hugging Face

OpenAI has revealed that a cyber-attack carried out by a rogue AI agent had more than one victim.

The ChatGPT developer said the agent – an autonomous tool able to carry out sequences of commands without human help – had located and used logins to access four other unnamed “publicly-available services” in addition to the US startup Hugging Face.

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Shares in Asian chip firms plunge further as AI sell-off continues

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Drop comes after South Korean company SK Hynix’s results undershoot investors’ expectations

Shares in companies linked to AI have plunged further after disappointing results from the South Korean chipmaker SK Hynix, which sent the country’s stock market tumbling for a second day in a row.

Seoul’s Kospi index, which is dominated by semiconductor manufacturers, slid by as much as 12.6% at one point on Wednesday, following on from a near 11% slump the previous day, reaching its lowest level since early April.

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Shares in chipmakers underpinning AI boom rocket in first half of 2026

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Value of some chip manufacturers have tripled, or more, driving Asia Pacific stock markets sharply higher

Shares in chipmakers have surged in the first half of this year as investors piled into companies that make the hardware underpinning the AI boom, according to analysis.

Investors have driven up the value of semiconductor and memory chip manufacturers, whose profits have soared during 2026, at the expense of some large software companies, which have fallen out of favour this year.

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‘Fork in the road’: CEO of Amazon-backed Rivian on why carmakers need to invest in EVs

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RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decade

Carmakers that focus on selling fossil fuel engines are at risk of being “woefully behind” on technology by the end of the decade, according to the boss of Rivian, an Amazon-backed US electric carmaker.

RJ Scaringe, Rivian’s founder and chief executive, said the car industry has reached a “fork in the road” in the choice between short-term profits and the heavy investments, particularly in software, that will be required to survive.

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Fujitsu chair resigns after ‘woman-related inappropriate conduct’

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Japanese technology company at centre of Post Office IT scandal is negotiating settlement with UK government over faulty software

The chair of Fujitsu, the Japanese technology firm at the centre of the Post Office IT scandal, has resigned after its board became aware of his “woman-related inappropriate conduct”.

The company said on Tuesday that Hidenori Furuta had stepped down after two years in the role.

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Nvidia launches ‘superchip’ putting AI power into laptops and PCs

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Firm says its RTX Spark PC chip for Microsoft Windows will let AI agents replace the mouse and keyboard

A new front has opened up in the battle for dominance in AI chips, as Nvidia said its latest development could replace the mouse and keyboard in how people use computers.

The $5tn (£3.7tn) US semiconductor company has launched a “superchip” that puts AI capabilities into laptops and desktop computers, a move that will pit it against Intel, Apple, Qualcomm and AMD.

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Arm boss in line for billion-dollar payday if chipmaker hits targets

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Proposal requires Rene Haas to steer US-listed British company to ‘exceptional growth metrics’

The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the microchip firm into the UK’s first trillion-dollar company.

Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain “exceptional growth metrics”.

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How big tech got its way on Trump’s AI executive order

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The US president’s reversal on calling for a safety review of new AI models is a green light for tech’s unchecked power

Only hours before Donald Trump was set to sign a long-awaited executive order on Thursday that would have called for a government safety review of new artificial intelligence models before their release, the president abruptly backed out. Despite growing public backlash to the technology and experts warning new models will pose critical security risks, Trump vowed the US government would not slow down the AI race.

During a meeting with reporters on Thursday, Trump cited both American dominance and competition with China and as his reasoning behind the reversal.

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Starmer adviser held 16 undisclosed meetings with top US tech bosses

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Exclusive: Varun Chandra’s talks with Google, Meta, Apple and others raise fears of ‘lobbying behind closed doors’

An influential government adviser close to Keir Starmer and Rachel Reeves held 16 undisclosed meetings with top US tech executives, the Guardian can reveal.

The No 10 business aide Varun Chandra discussed regulatory changes, AI and Donald Trump’s second administration with tech corporations during confidential meetings between October 2024 and October 2025. In one meeting he offered to help a top executive meet the prime minister directly.

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UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

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Adult video platform to sell minority stake to increase stability after death of its founder Leonid Radvinsky

OnlyFans, the UK adult video platform, is in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).

The London-based company is in advanced talks to sell a stake of less than 20% to the San Francisco-based investment firm Architect Capital, according to the Financial Times. Sources familiar with the process confirmed the talks to the Guardian.

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Brussels opens investigation into Snapchat amid concern over children’s safety

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European Commission says social messaging app is exposing children to grooming and sexual exploitation

Brussels has opened an investigation into Snapchat over concerns the social messaging app is exposing children to grooming, sexual exploitation and other criminality.

In a separate decision on Thursday, the European Commission also said four pornographic websites were failing to prevent minors seeing adult content, harming young people’s mental health and fuelling negative gender attitudes.

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AI-resistant ‘halo’ stocks drive UK and EU markets to record highs

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Investors shifting to ‘heavy-asset, low-obsolescence’ companies insulated from disruption, says Goldman Sachs

Investors have a new mantra as they prepare for AI to shake up the global economy – the Halo trade.

Interest in Halo – short for “heavy assets, low obsolescence” - has risen as investors seek out companies with tangible, productive assets, which might be insulated from AI disruption, such as energy and transport infrastructure companies.

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Ocado failing to deliver on its potential as one of UK’s great technology hopes

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Firm’s automated warehouses are struggling to compete against swift deliveries from stores by bike riders

Only six years ago, the boss of Ocado Group was writing the obituary for supermarkets as he predicted that a surge in online grocery shopping during the pandemic had brought forward the hi-tech future.

“Not every store will disappear, but there will be a dramatic shift,” Tim Steiner said at the height of the Covid pandemic, when shopping from the sofa became the only option for many.

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Ocado to cut 1,000 jobs in £150m cost-saving drive

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Major restructure by retail technology business will lead to reduction of about 5% of global workforce

Ocado is to cut 1,000 jobs as the retail technology business attempts to slash costs by £150m in a major restructure.

The group confirmed about 5% of its global workforce is being cut, with about two-thirds of the job losses affecting its UK operations.

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Accenture ‘links staff promotions to use of AI tools’

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Consulting firm keen to increase uptake of technology and is reportedly monitoring adoption by workforce

Accenture has reportedly started tracking staff use of its AI tools and will take this into consideration when deciding on top promotions, as the consulting company tries to increase uptake of the technology by its workforce.

The company told senior managers and associate directors that being promoted to leadership roles would require “regular adoption” of artificial intelligence, according to an internal email seen by the Financial Times.

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GWR train fitted with F1 tech for two-month superfast wifi trial

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Tryout of system, which switches between signals from 5G masts to low Earth-orbit satellites, could lead to wider rollout

Train wifi in the UK, long a source of frustration for passengers, is about to get radically faster – for a lucky few at least.

A two-month trial has begun on one Great Western Railway (GWR) train, fitted with technology from Formula One that switches between the signals from 5G masts to low Earth-orbit satellites to provide almost seamless, superfast wifi.

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