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Big Tech is investing in nuclear power to meet AI data center energy demands. While VC interest in nuclear startups is growing, startups face key bottlenecks. The generative AI boom has made nuclear power a major new obsession for Big Tech. Some industry watchers aren't fully convinced that it should be — or that nuclear startups will be able to capitalize on the hype. It's part of the reason investment in nuclear energy startups has fluctuated over the past five years.
Persons: aren't, Amazon, Goldman Sachs, Big, Jill McArdle, they've, " McArdle, McArdle, Wally McNamee, Corbis, Guillaume Sarlat, Matthew Blain, Blain, Nicolas Heuzé, Marc Andreessen, Ben Horowitz, David Ulevitch, Elisabeth Rizzotti Organizations: Big Tech, Microsoft, Constellation Energy, Google, Kairos, Goldman, Fuels, Getty Images Venture, Axeleo, Voyager Ventures, Energy, SpaceX Locations: France, Paris
The startup was founded by former Funding Circle executive Jerome Le Luel and is backed by Stride.vc. A London-based startup that will provide instant working capital to SMEs has emerged from stealth with an $8 million funding round. Like most forms of short-term working capital, financing solutions for the SME market are often expensive and time-consuming. Most providers run checks based on e-commerce data, but Le Luel believes that Open Banking data allows for better risk and analytics modeling. The company wants to launch its platform within this quarter and said that it had a "line-of-sight" to a very profitable business by 2027.
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