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☆ Intel ends its bitcoin mining chip series
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +1 min

April 18 (Reuters) - Chipmaker Intel Corp (INTC.O) said on Tuesday it has discontinued production of its bitcoin mining chip series, just a year after its introduction. A rout in the cryptocurrency market hurt some chip companies including Nvidia Corp (NVDA.O), whose high-end graphics chips became popular for crypto mining. Intel expects to stop taking orders for the series, called Blockscale, by October 20 this year and end shipping by April 20 next year, according to a document on the company's website. "As we prioritize our investments in IDM 2.0, we have end-of-lifed the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers," a company spokesperson said. Argo Blockchain (ARB.L), Block Inc (SQ.N), Hive Blockchain Technologies(HIVE.V) and GRIID Infrastructure were Intel's first customers for the chips.

☆ Newmont plumps final bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-11 | by ( Melanie Burton | ) www.reuters.com time to read: +4 min

If successful, the deal would lift Newmont's gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid that has received some support from shareholders. The latest bid is 16% higher than Newmont's initial proposal, and represents around a 46% premium to Newcrest's share price on Feb. 3 before Newmont's first bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Barrick and miner Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Newmont plumps offer for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$32.87 a share, up from a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February. Newcrest shares rose by as much as 7% to A$30.28 but still traded below the implied offer price. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced, Newcrest said. Reuters had reported that Newmont was open to raising its offer price for Newcrest. The revised deal is just shy of Glencore's $22.5 billion takeover offer for Canada's Teck Resources Ltd's (TECKb.TO) that was announced earlier this month.

☆ Newmont sweetens bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid. "Newmont has indicated that the revised proposal represents its best and final price in the absence of a competing proposal," Newcrest said in a statement. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Rival miners Barrick and Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Ford withdraws petition seeking U.S. approval to deploy self-driving vehicles
▼ + stars: | 2023-03-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 30 (Reuters) - Ford Motor Co (F.N) has withdrawn a petition seeking U.S. regulatory approval to deploy up to 2,500 self-driving vehicles annually without required human controls like steering wheels, according to a letter made public Thursday. Ford had said it intended to deploy a self-driving ride-hailing and package delivery vehicle early in this decade. Ford had sought permission not to include human controls "such as a steering wheel, brake pedal (and) gear state controls." The automaker told the NHTSA in its petition that self-driving vehicles "having active driving controls and communications would introduce an unacceptable risk to safety." Efforts in Congress to make it easier to deploy vehicles on U.S. roads without human controls have been stymied for years.

Origin, Australia's top energy retailer, on Monday agreed to the long-running takeover offer from the consortium, nearing the conclusion of one of the country's biggest private equity-backed buyouts. Once the deal is completed, EIG's MidOcean Energy will take control of Origin's integrated gas business. Thomas said government policy swings world over are a by-product of the volatility associated with the tension between energy security and the transition to cleaner energy. Origin, Australia's No. Brookfield said it plans to invest a further A$20 billion of capital to fully replace Origin's power generation and its power purchases with green power over a decade.

☆ Ford CEO channels Elon Musk, saying the automaker's next electric truck will drive itself while you sleep
▼ + stars: | 2023-03-24 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +2 min

In Elon Musk-like fashion, Ford CEO Jim Farley just made big claims about self-driving tech. Farley told Bloomberg in an interview that Ford's next pickup will drive itself. In a new interview with Bloomberg published Friday, Farley upped his company's pressure on Tesla, saying the company's next electric truck set to debut in 2025 is a "breakthrough product." For years, Musk has claimed that self-driving Teslas are coming, but the tech isn't ready yet. The declaration about self-driving tech comes mere months after Ford shut down Argo AI, its autonomous-driving unit that was working on self-driving taxis.

☆ How Ford and VW's multibillion-dollar self-driving car project failed
▼ + stars: | 2023-03-22 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

Ford Motor bet a billion dollars on a startup called Argo AI to catch up to flashy tech companies like Google , Uber and Tesla . Volkswagen , the second-largest automaker in the world, signed on as a backer in 2019, investing $2.6 billion Argo AI at a valuation of more than $7 billion. By 2021, Argo AI was valued at $12.4 billion and counted 2,000 employees, with offices on two continents and self-driving tests underway in seven cities. There were plans to bring a self-driving taxi service to market by 2021, rivaling those by Waymo and Ford's larger Detroit rival, General Motors . But in October 2022, Argo AI shut down.

☆ Why Ford and VW shut down their multi-billion dollar self-driving project
▼ + stars: | 2023-03-22 | by ( Robert Ferris | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Ford and VW shut down their multi-billion dollar self-driving projectFord invested $1 billion in self-driving startup Argo AI in 2017, and Volkswagen later joined with a $2.6 billion investment. At its height, Argo AI was reportedly valued at $12.4 billion. But in 2022 it shut down. Ford said it didn't attract new investors, and that profitability was "a long way off". VW still pursued autonomous driving projects for commercial uses, and Ford focused on more modest L2 and L3 driver assistance tech.

☆ Self-driving startup Gatik to double workforce, strikes Kroger deal
▼ + stars: | 2023-03-15 | by ( Abhirup Roy | ) www.reuters.com time to read: +3 min

SAN FRANCISCO, March 15 (Reuters) - Self-driving trucking startup Gatik will double its workforce by year end, a top executive said, after it announced a deal on Wednesday with grocer Kroger Co (KR.N) to transport goods within its Dallas, Texas network. Gatik, which operates traditional mid-sized trucks fitted with its autonomous technology, aimed to expand to 15 new U.S. states over five years, CEO Gautam Narang told Reuters. Many investors in the self-driving industry have grown sceptical as complicated technology and tough safety regulations have delayed large-scale commercialization. Autonomous truck company Embark Technology (EMBK.O) said this month it would lay off 70% of its employees and start evaluating options, including winding down the business. Microsoft (MSFT.O)plans to invest more than $10 million in Gatik at a valuation above $700 million, sources told Reuters in January.

☆ GM's Cruise to focus on cost cuts as it ramps up robotaxis
▼ + stars: | 2023-03-07 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) last fall announced they would shutter their Argo AI self-driving unit and focus on driver-assistance technology that provided more immediate returns. Cruise's rival and Alphabet Inc's (GOOGL.O) self-driving technology unit, Waymo, has this year laid off over 8% of its workforce. The company is also developing a fully autonomous vehicle called Origin from scratch without a steering wheel and with subway-like doors for rideshare and deliveries. "This is a really pivotal year for us that will really transform not just Cruise but the whole perception of autonomous vehicles." Reporting by Abhirup Roy in San Francisco; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Experts ranked the leading self-driving companies. Tesla didn't even crack the top 10.
▼ + stars: | 2023-03-02 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Research firm Guidehouse Insights regularly ranks companies developing automated driving tech. Tesla didn't make this year's top 10, and ranked last of 16 companies assessed. That's despite CEO Elon Musk's confidence in his Full Self-Driving tech. Moreover, of the 16 companies recently ranked by research and consulting firm Guidehouse Insights (which ranks some of the biggest names working on automated-driving technology each year), Tesla came in last. Tesla ranked last in similar lists in 2021 and 2020.

☆ Brookfield consortium trims offer for Australia's Origin Energy to $10.5 billion
▼ + stars: | 2023-02-21 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +3 min

Feb 22 (Reuters) - A Brookfield-led consortium trimmed its offer for Origin Energy by 1% on Wednesday, valuing Australia's no.2 power producer and energy retailer at A$15.33 billion ($10.5 billion), after government moves to cap gas prices hit valuations in the sector. The consortium's first offer in November of A$9 per share was a near 55% premium to its previous close and valued Origin A$15.5 billion. Argo Investments, Origin's ninth largest investor, said the revised offer was still good value for the takeover target. The revised offer comprises A$8.90 apiece for the first 100,000 Origin shares. Almost 75% of Origin's shareholders own fewer than 100,000 shares, according to its annual report.

☆ Amazon’s Zoox robotaxi drives on public roads in California for the first time
▼ + stars: | 2023-02-14 | by ( Julia Horowitz | ) edition.cnn.com time to read: +2 min

London CNN —Amazon’s Zoox driverless transportation company has started testing its robotaxi on open public roads — with employees on board, for now. The company said Monday that it conducted an initial run of its shuttle service for workers at its headquarters in Foster City, California on February 11, a key step in its efforts to make autonomous vehicles widely available. Full-time employees will now be able to travel in the self-driving taxi on the route between Zoox’s two main office buildings. Zoox, which was founded in 2014 and purchased by Amazon in 2020, is unique in its approach to designing electric self-driving vehicles. But Zoox has ditched the steering wheel and brake pedal, claiming those features are unnecessary when there’s no human driver.

☆ Amazon's Zoox tests robotaxi on public road with employees as passengers
▼ + stars: | 2023-02-13 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, Feb 13 (Reuters) - Amazon.com Inc's (AMZN.O) self-driving vehicle unit, Zoox, said on Monday it has successfully tested a robotaxi with employees as passengers on a public road in a move to bring it closer to commercial service for the general public. Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) last fall announced they would shutter their Argo AI self-driving unit and focus on driver-assistance technology that provided more immediate returns. Companies still pursuing development of this technology include General Motors Co's (GM.N) Cruise unit and Alphabet Inc's (GOOGL.O) Waymo. Online retailer Amazon, which has been aggressively expanding into self-driving technology, bought Zoox for $1.3 billion in 2020. Reporting by Abhirup Roy in San Francisco Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Argo Blockchain CEO Peter Wall to step down
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - Crypto miner Argo Blockchain (ARB.L) said on Thursday founder Peter Wall would step down from his position as chief executive officer and interim chairman to "pursue other opportunities". Chief Operating Officer Seif El-Bakly has been appointed as interim CEO, effective immediately, while Matthew Shaw will take over as the board chairman. The struggling crypto miner managed to prevent bankruptcy at the end of last year after agreeing to sell its mining facility Helios and refinance a new asset-backed loan. Argo intends to engage an executive search firm to assist the search for its CEO, the company added. Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

MELBOURNE, Feb 6 (Reuters) - Global gold miner Newmont Corporation (NEM.N) has made an indicative $16.9 billion takeover offer for Australia's No. 1 goldminer Newcrest Mining Ltd. (NCM.AX), Newcrest said on Monday in a deal that would leverage both miners' operations in Australia and Canada. The offer price implies a premium of about 21% to Newcrest's last closing value of A$22.450, where Newcrest shareholders will receive 0.380 Newmont shares per every Newcrest share. "The Newcrest board, together with its financial and legal advisers, is considering the indicative proposal," the Australian gold miner said. The offer follows a rejected stock bid of 0.363 Newmont share per every Newcrest share, which the Australian gold miner consider "would not deliver sufficiently compelling value to Newcrest shareholders and on that basis".

☆ Why Silicon Valleys massive layoffs haven't hit Detroit automakers
▼ + stars: | 2023-02-05 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

The auto industry could benefit from tech layoffs. But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a flood of new investor money. "Legacy auto is underpopulated in order to fully go after the future of mobility — primarily, electrification, batteries, and software." The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers.

REUTERS/Phil NobleCOVENTRY, England, Feb 1 (Reuters) - Developing fully autonomous vehicles (AVs) that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions far removed from pedestrians and other vehicles operated by unpredictable humans. Earlier promises made by robotaxi companies of operating fleets of vehicles by the early 2020s have fallen well short. BMW iVentures has also invested in AV truck technology firm Kodiak Robotics, which managing partner Sage said has adopted a simpler approach to areas like mapping. Construction and agricultural equipment - used off-road in low-traffic environments - has been another growth area for AV startups. U.S. agricultural equipment maker AGCO Corp (AGCO.N), for instance, is using the Palo Alto, California-based startup's software for an experimental automated electric planter.

☆ Tech giants have cut tens of thousands of jobs. Automakers are ready to hire them.
▼ + stars: | 2023-01-29 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

But the auto industry doesn't need to undergo massive cuts — mostly because they already have over the past few years. Tech companies, meanwhile, had enjoyed a decade of unmitigated growth thanks to low interest rates and a floor of new investor money. As these companies enter a new phase and a different economy, the tech industry is experiencing its first real belt-tightening. The auto industry could benefit from tech layoffsWhile tech sheds thousands of jobs, automakers are desperate for workers. "The war for talent in the automotive industry is still raging and the talent pool is still relatively small."

☆ GM, Ford must convince investors they can profit as prices fall
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

Already there are signs the Detroit automakers are scaling back spending to offset competitive and economic pressure. GM and Ford both rely on sales of pickup trucks and SUVs in the United States for the bulk of their global profits. The risk to the Detroit automakers' profitability would be a challenge in the best of times. But now, GM and Ford must factor in forecasts for a slowdown, or even a recession, in the U.S. economy. The Model Y SUV competes with Ford's Mustang Mach-E, GM's Cadillac Lyriq EV, and with combustion SUVs the Detroit automakers sell.

☆ Will We Blame Self-Driving Cars?
▼ + stars: | 2023-01-26 | by ( Julian De Freitas | ) www.wsj.com time to read: +1 min

The autonomous vehicle (AV) industry has been promising for years that self-driving cars will be the future of transportation. But technological progress remains slow, and in recent months investors have shown signs of impatience. When Intel took its Mobileye car-technology unit public in October 2022, it was valued at $23 billion, dramatically lower than the company’s original expectation of $50 billion. One of the challenges facing the industry is trying to estimate how much liability AV firms will have for accidents involving their vehicles. As fully autonomous vehicles become more common, they will inevitably be involved in accidents.

☆ Oxbotica raises $140 mln to deploy self-driving commercial vehicles
▼ + stars: | 2023-01-11 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Jan 11 (Reuters) - Self-driving software startup Oxbotica has raised $140 million from investors to speed deployment of autonomous vehicles (AVs) in areas including heavy industry, ports and airports. The Series C round includes funding from new investors including Japanese insurer Aioi Nissay Dowa Insurance, the venture capital arm of software company Trimble (TRMB.O) and the venture capital arm of Japanese oil refiner Eneos (5020.T). Oxbotica has now raised about $225 million in total and the company said that additional investors are expected to sign up before the funding round closes in a few months. Once regulations catch up with the industry, the company will start running tests on limited routes for Ocado in 2025, Jackson said. "The proceeds (of this funding round) will really accelerate deployment for our commercial customers."

Jan 4 (Reuters) - Microsoft Corp (MSFT.O) is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters. Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As part of the deal, Gatik will use Microsoft's cloud and edge computing platform Azure in developing autonomous delivery technology for trucks. Like other big tech companies, Microsoft has recently been putting funds into self-driving technology. In November, Ford and Volkswagen shut down their self-driving technology unit, Argo AI, saying that creating self-driving "robotaxis" would be "harder than putting a man on the moon."

☆ Baidu gets license for driverless robotaxi tests in Beijing
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

Dec 30 (Reuters) - Baidu Inc (9888.HK) said on Friday it had been granted the first license to test driverless vehicles on roads in Beijing, and would add another 200 robotaxis to its network across China in the coming year. Baidu started to charge fees for its robotaxi service Apollo Go last year. Apollo Go, which operates in Wuhan and Chongqing without a safety driver, delivered a total of 1.4 million driverless rides by end of the third quarter, Baidu has said. The company said it would begin testing 10 fully autonomous vehicles in a technology park developed by the government of Beijing as a step toward offering a commercial robotaxi service in China’s capital. The push by Baidu comes as other companies outside China pull back from the bullish rollout schedule for fully autonomous vehicles predicted just a few years ago.

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