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Tech Across the Globe

New chip production: Taiwan Semiconductor Manufacturing Co., seeking to remain at the cutting edge of the chip industry, plans to begin production with its advanced A14 fabrication process in 2028.

IBM disappoints: IBM reported sales and profit that topped estimates, but it wasn’t the “picture perfect” quarter that investors had hoped for after running up the company’s shares 12% since the start of the year. 

EU fines Big Tech: European Union regulators levied fines on Apple and Meta totaling just less than $800 million for violating antitrust rules. Some, however, said the penalties were lower than expected in part to avoid provoking US President Donald Trump.

Revalued

Elon Musk’s Neuralink is planning to raise about $500 million at a pre-money valuation of $8.5 billion. The brain implant company was valued at $3.5 billion in 2023. Neuralink, one of several companies working on technology to let people use their thoughts to control computers, has implanted devices in three patients so far. 

Must Read

Instagram co-founder Kevin Systrom seems like the perfect witness for the Federal Trade Commission in its antitrust trial against Meta Platforms, Sarah Frier writes in today’s Tech In Depth. But even Systrom can’t say for sure whether his app would have survived and flourished if it hadn’t been bought by then Facebook Inc. And that’s at the heart of the trial, she reports. For more Bloomberg coverage of the technology industry, subscribe here.

This Week in Cyber Bulletin

Research in disinformation by Boston University professor Gianluca Stringhini took a hit this week when he learned the National Science Foundation was canceling almost $1 million in federal grant funding, Jake Bleiberg writes in Cyber Bulletin. Stringhini’s funding was among 402 foundation grants axed at the behest of Elon Musk’s Department of Government Efficiency, Jake reports. For more Bloomberg coverage of cybersecurity, subscribe here. 

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