VCs pivot to defense

Startups aimed at the defense and aerospace industries are seeing a dramatic jump in investment ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Broadcom Inc $373.90 +3.7% Microsoft Corp $386.74 -1.0% Samsung Electronics Co ₩293,500 -8.3% Market data as of 02:44 AM ET. Data is subject to provider delays. Your watchlist Top Stories Microsoft eliminates jobs: Thousands of workers at the Xbox gaming unit are losing their job as the software company undertakes a dramatic makeover. Xbox will also divest video-game studios. Apple buys Broadcom chips: The iPhone maker extended its partnership with Broadcom for custom chips through 2031. The focus is on AI. British TV deal: ITV, long viewed as a takeover candidate, has agreed to sell its media and entertainment arm to Comcast-backed Sky for as much as $2.1 billion. The deal will break up the 71-year-old broadcaster. Must Reads AI Won’t Bring Back Era of Rapid Growth, Says Nobel Prize Winner A Nobel Prize-winning economist has warned that artificial intelligence will not return Western economies to the era of rapid productivity growth, which may be gone forever. Tech Giants Drive Stock Gains in AI Trade Revival: Markets Wrap A rally in several technology giants lifted stocks amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run. Google and RWE Back German Nuclear Startup Proxima Fusion at €2.4 Billion Valuation German startup Proxima Fusion has raised €411 million ($469 million) from a range of investors, including national energy firm RWE AG and Alphabet Inc.’s Google, to develop a nuclear fusion plant it hopes will be operational in the 2030s. Beyond The Brief Silicon Valley once shunned startups connected to the defense industry, Ed Ludlow writes in today’s Tech In Depth. But venture capitalists now are pouring money into those firms with ties to the military, defense technology and aerospace, making it one of the hottest areas for funding outside artificial intelligence, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Game On Designers at Warner Bros. Rocksteady Studios had good intentions when they began work on the new Suicide Squad game years ago, Jason Schreier writes in this week’s Game On. But as time passed and costs increased, the effort seemed more about helping the company recoup its investment than producing the best title. And when Suicide Squad: Kill the Justice League was released to poor sales and critical reviews in February 2024, some questioned the whole experience, he writes. Sign up for the Game On newsletter to go deep inside the video game business with reporting and analysis from Jason Schreier. Before You Go... Reddit Is Cracking Down on AI Marketing Slop With Its Own AI Reddit is battling a new kind of spam: stealth marketing content created by brands that want to get mentioned by popular artificial intelligence chatbots like ChatGPT and Gemini. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |