U.S. stocks were mostly lower, with the Nasdaq leading declines as makers of AI infrastructure suffered steep falls, many in the double digits. Nvidia was down 16%.
Nandan Nilekani is stepping down as a general partner at Fundamentum Partnership, the venture capital firm he co-founded. He will remain an anchor investor and advisor for the firm's third fund, which aims to raise $200 million.
A judge approved a $1.5 million penalty for Elon Musk to settle an SEC lawsuit over his handling of his stake in the social network formerly known as Twitter. Judge Sparkle Sooknanan expressed "significant misgivings" but found the settlement met minimum fairness standards.
A judge approved a $1.5 million penalty for Elon Musk to settle an SEC lawsuit over his handling of the Twitter takeover. Despite "significant misgivings," the judge found the settlement fair and reasonable, noting it stemmed from Musk's failure to timely disclose his growing stake in Twitter in 2022.
Swedish startup Lovable is reportedly in talks to raise $300 million at a $13.2 billion valuation, doubling its previous valuation from December. Menlo Ventures is expected to lead the funding round. The company, less than three years old, has achieved $500 million in annualized revenue run rate.
German startup QuantumDiamonds has received €76 million in non-dilutive funding and €15 million in equity to develop semiconductor testing equipment. Leveraging quantum technology and synthetic diamonds, the company offers rapid defect detection, potentially saving chip manufacturers millions.
Ireland-based Manna Aero is launching a major U.S. expansion, establishing an operations and manufacturing center in Tulsa, Oklahoma, aiming to employ 1,000 people. Fueled by $50 million in recent funding, the drone delivery startup plans to compete with major players like Zipline and Amazon, citing favorable regulatory environments and market potential.
