The Scaleup Europe Fund cleared its final hurdles on August 4, confirming EQT as manager of an initial EUR 5 billion vehicle that could grow to EUR 25 billion. Here is what it means for EU founders weighing a US growth round.
SpaceX's first earnings report since its June IPO shows the AI division built on Grok and X.AI compute posted 2.56 billion dollars in revenue against a 1.26 billion dollar operating loss, a gap Starlink's profit covered.
Spotify crossed 300 million premium subscribers on 4 August. Its audience grew faster than its paying base, so the share of listeners who pay fell over the year. That gap is the ad inventory.
Bending Spoons is paying 1.285 billion dollars for Airtable, a business with about 480 million dollars of recurring revenue. The multiple, not the press release, tells you what happens at your next renewal.
Alphabet's Q2 filing discloses 43.8 billion dollars of credit derivatives backstopping data centre payments, on terms up to 15 years. It never names who is being backstopped.
Snap reported 19 percent revenue growth for the second quarter. Advertising, the part you buy, grew 9 percent, and management says the World Cup spending behind it normalizes in the third quarter.
Visa is buying behavioural biometrics firm BioCatch for 2.4 billion dollars from Permira-advised funds. The company reads keystrokes and touch gestures across 19 billion sessions a month for more than 350 banks.
Visa is paying 2.4 billion dollars for the behavioural model that scores 19 billion banking sessions a month. Under British rules the bank receiving scam money already refunds half of it.
iwoca closed a 250 million pound facility with an unnamed UK bank and Waterfall Asset Management. The interesting number is not the facility, it is the loan sizes small firms are now asking for.
Nalvin's customers got three sentences, no end-of-life date and no migration path. When a supplier's founders are the asset, the deal moves them and leaves your contract behind.
European tech raised 44.1 billion euros in the first half of 2026, up 27 percent, across 1,740 deals - the fewest funded companies in six years. The thin cohort is a supplier problem that lands in 2028.
Amazon completed a 50 billion dollar investment in OpenAI on 31 July and AWS now holds the only third-party cloud licence to distribute OpenAI Frontier. The exclusivity reaches your procurement before the money does.
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One considered note on infrastructure, governance, and measurement, most mornings. No theory.