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Darktrace Founder Missing After Shipwreck
Autonomy and Darktrace [DARK:L] Co-Founder Mike Lynch and his 18-year-old daughter are among six people missing after his luxury yacht, Bayesian, sank in a heavy storm off the coast of Sicily. Darktrace shares have gained 60% this year but traded sideways since late April, as a legal case around Lynch’s sale of Autonomy to HP [HPE] rumbled. Bloomberg reports that Lynch was celebrating his acquittal before the storm hit.
Can Bitwise Break into Europe?
US crypto fund manager Bitwise Asset Management has acquired London-based ETC Group for an undisclosed fee in a bid to expand into Europe. The deal follows Robinhood’s [HOOD] June acquisition of Bitstamp, as well as Cathie Wood’s ARK Investment Management’s acquisition of Rize ETF, continuing a trend of US-based asset managers using mergers and acquisitions to access European markets. The bitcoin price has fallen 10.8% in the last month as cryptocurrencies struggle to ride the broader market recovery.
AMD Acquires ZT for GPUs
Following news that South Korean AI chipmakers Rebellions and Sapeon Korea are merging, Advanced Micro Devices [AMD] announced plans on Monday to acquire server manufacturer ZT Systems for $4.9bn, in order to improve its ability to compete with Nvidia’s [NVDA] artificial intelligence (AI) products. “AI systems are our number one strategic priority,” AMD CEO Lisa Su told Reuters in an interview, adding that the acquisition would allow AMD to sell more GPUs.
Blockbuster Debut for Black Myth
Black Myth: Wukong, a Chinese video game from Tencent-backed [TCEHY] developer Game Science, has shot to fourth on Steam’s most-played title chart just hours into its first day on Tuesday, with 1.4 million concurrent players. The meteoric debut boosts confidence in China’s gaming industry recovery following the release of titles such as Tencent’s DnF Mobile. Elsewhere, Apple [AAPL] could launch the first Indian-made iPhone Pro models later this year, reports Bloomberg.
Trump Could Cut EV Credit
Donald Trump has suggested he could end the $7,500 electric vehicle tax credit and make Tesla [TSLA] CEO Elon Musk an advisor if he wins November’s presidential election. Tesla is advertising a position described as “Data Collection Operator” that involves wearing a motion capture suit to gather data for its humanoid robot, Tesla Bot. California is losing a major lithium battery hub as battery maker Northvolt consolidates its operations, while General Motors [GM] is laying off 1,000 staff across its global software and service units.
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