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NEWS China bans NVIDIA chips China’s government has told Chinese tech companies not to buy NVIDIA’s new RTX Pro 6000D. NVIDIA launched it in the last few months specifically for the Chinese market, to comply with US export restrictions. This follows the news last month that China's AI companies created two new industry alliances, aiming to develop a domestic ecosystem to reduce dependence on foreign (ie American) technology. In the short term this is a setback for Chinese AI companies - NVIDIA’s AI chips are the best on the market. But the CCP calculates that in the longer term it will serve to improve China’s domestic production of AI chips, which is necessary if China is to replace the US as the world’s technology leader. Palantir invests in the UK Palantir, an American developer of software for defence, has committed to invest £1.5bn in the UK by 2030. In return, the MOD awarded the company its largest ever foreign contract, worth £750m. The deal was announced during Trump’s state visit to the UK, so it’s arguably as much political as it is commercial. And the UK stands to benefit as Palantir plans to make Britain its European HQ for defence. Since the Munich Security Conference in February there has been much discussion of creating sovereign European capability, a narrative that doesn’t entirely fit with this deal. But the UK’s Labour government needs to find growth somewhere, and sometimes politics trumps sovereignty. Skunk Works unveils air combat drone Lockheed Martin’s Skunk Works advanced projects division has lifted the lid on a stealthy Collaborative Combat Aircraft (CCA) type drone named Vectis. The uncrewed aircraft is expected to fly within two years. I recently wrote about China’s new wingman drones which were unveiled at its military parade two weeks ago. They have reportedly been test flown already, although the best sightings we have are grainy smartphone videos. The technology is still early stage but, as with AI chip development, Beijing is seeking to position itself as a world leader. There was a time when Skunk Works was the only show in town. The rise of China’s defence tech industry has changed that. As a result, the Trump administration wants to wind down the war in Ukraine so that it can focus on the threat posed by China. Considering the pace and scale of Chinese defence innovation; that is somewhat understandable. In Europe we tend to worry more about Russia; that is equally understandable. FUNDRAISING Auterion, a Swiss/American developer of an all-in-one integrated autopilot and mission computer to enable autonomous flights, mission planning and other features, raised a $130m Series B led by Bessemer Venture Partners. Irregular, an American startup which partners with AI labs to test advanced models against real-world threats and set security standards for safe deployment, raised an $80m round co-led by Sequoia Capital and Redpoint Ventures. Cailabs, an French developer of optical ground stations for satellite communications, raised €57m in a round led by the European Terra Security, an Israeli developer of AI-driven continuous penetration testing, raised a $30m Series A led by Felicis. Investment Bank, with participation from Definvest and BpiFrance. K2 Space, an American builder of multi-orbit-capable satellites for commercial and defense missions, raised $15m from Luxembourg’s NewSpace Capital. Atomionics, a Singapore startup that develops quantum gravimetry sensors to speed mineral discovery, raised a $12m pre-Series A round led by Australia’s Paspalis. Plumerai, a British developer of on-device AI for cameras and other embedded devices, raised an $8.7 million Series A round co-led by OTB Ventures and Partech.
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