Shenzhen: China’s Silicon Valley Since Alibaba’s U.S. listing in 2014, early-stage investing in China has attracted billions of dollars without much success. Only four U.S. dollar-denominated venture capital funds established between 2015 and 2020 have been able to return all the money invested, according to a report by alternative assets research firm Preqin. Preqin analyzed …
Chinese ride-hailing giant Didi delisted from the New York Stock Exchange just months after its June 2021 IPO after a now-resolved regulatory probe that had forced Didi to suspend new user registrations. Brendan McDermid | Reuters BEIJING — Slowing growth and geopolitical tensions are stifling the Chinese startup world that once spawned unicorns such as …
You can watch David Faber’s interview with Arm CEO Rene Haas and SoftBank CEO Masayoshi Son on CNBC Pro. In an interview with CNBC, Arm Holdings CEO Rene Haas stated that despite the geopolitical challenges in the past few years, Arm’s China subsidiary is performing well and has great potential in data center and automotive …
Photo: Brendan McDermid (Reuters) Investors are closely following the public offerings by Arm and Instacart to gauge the state of the stock market. Recent developments indicate a positive outlook. Eric Beiley Part II: Where rates are heading Arm, the UK-based chip designer, experienced a 25% surge in its stock price on the first day of …
Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll services for small businesses. Courtesy: Kelly Boynton | Gusto JPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll processing, CNBC has learned. The bank has picked San Francisco-based fintech player Gusto to …
Monzo, the $4.5 billion digital challenger bank, has announced the launch of a new investment feature, marking its entry into the financial investment market. The feature, called Investments, will enable Monzo’s customers to invest in various funds managed by asset management giant BlackRock. CNBC had the opportunity to preview the product at Monzo’s headquarters last …
The Federal Aviation Administration (FAA) has announced that SpaceX is not yet cleared for another test flight of its Starship Super Heavy launch vehicle. This comes after the rocket exploded mid-flight during an April launch. The FAA’s investigation into the mishap has concluded, listing 63 corrective actions that SpaceX must take before being granted clearance …
The Federal Aviation Administration (FAA) stated on Wednesday that SpaceX has not yet received clearance for another test flight of its Starship Super Heavy launch vehicle. The Washington Post | The Washington Post | Getty Images The FAA announced on Wednesday that SpaceX is still awaiting clearance for another test flight of its Starship Super …
Tesla’s stock took a hit on Friday, dropping 5%, after the company announced price cuts on certain vehicle models in the U.S. and reduced the cost of its premium driver assistance software. Despite this, the stock is still up nearly 100% for the year. In a surprising move, Tesla decided to lower the price of …
At Redwood Materials, the recycling startup for batteries and e-waste founded by former Tesla CTO JB Straubel, a groundbreaking announcement was made. The company has successfully closed a $1 billion funding round to expand its operations in the United States. This significant investment will enable Redwood Materials to further its mission of taking spent electric …