SAN FRANCISCO, Dec 2 (Reuters) – Axiado, a Silicon Valley-based startup that is making a chip designed to save space and power in artificial intelligence servers, said on Tuesday it has raised $100 million in fresh capital.
Inside AI data centers, thousands of powerful servers must work together in concert to train models. Doing so requires coordination over an internal network, and all servers contain a handful of chips whose job it is to handle those instructions and manage the server’s circuit board while keeping it secure from hackers.
Those board management chips tend to use older technologies, and Axiado is working to consolidate all of them into a single, smaller chip. At a time when major chip firms such as Nvidia and Advanced Micro Devices are working to pack as many of their graphics processing units into servers as possible and data centers are trying to make room for liquid cooling equipment, saving space counts.
“Real estate is really valuable there,” Andrew Homan, managing partner at Maverick Silicon, which led the funding round, told Reuters. “If you can open up footprint, that’s a huge value-add to any of the big incumbents that are building these systems.”
But Axiado’s chip also employs AI on its own. The chip can learn what normal behavior from a server looks like when a given software program is running on the server.
Using that knowledge, the Axiado chip can check for any divergences from normal behavior that might represent a cybersecurity threat. Axiado’s chip can also learn to control the server’s cooling system, dialing it up and down, saving up to 50% of the energy used in cooling.
“Our AI engine learns the behavior. Based on the behavior itself, I can tell that particular load will take a certain level of capacity of the GPU, so you don’t need to run if you had a full scale,” Gopi Sirineni, founder and CEO of Axiado, told Reuters.
(Reporting by Stephen Nellis in San Francisco; Editing by Lincoln Feast.)
The meeting will provide a platform for bipartite dialogue between GAPKI and JAPBUSI under JAGASAWITAN to address their achievements and problems in OSH in the palm oil industry, particularly on the gender-responsive OSH theme.
Outputs
Improve understanding on gender responsive OSH in the palm oil sector.
Feedback and recommendations from relevant stakeholders in OSH in the palm-oil sector.
Agenda
Time
Activities
Resource Person
08.00 – 09.00
Registration
JAGASAWITAN
09.00 – 09.10
Welcoming
MC
09.10 –09.30
Welcoming and Opening Remark
JAGASAWITAN
ILO
09.30 – 09.45
Introduction on RealGains Project and JAGASAWITAN
ILO National Project Coordinator for RealGains Project, Dede Sudono
A Boeing 777-9 prepares to land at Al-Maktoum International Airport during the Dubai Airshow 2025 in Dubai on November 17, 2025.
Giuseppe Cacace | Afp | Getty Images
Boeing is continuing to express optimism about its business as the company wraps up the year and looks at 2026.
Chief Financial Officer Jay Malave said Tuesday at a UBS conference that the company expects deliveries of both its 737 and 787 jets to be up next year.
“When you now fast forward to 2026, we’re going to be increasing our deliveries,” Malave said.
Boeing’s stock rose more than 7% in early trading Tuesday after Malave’s comments.
He added that he expects the certification for the 737-10 aircraft, which is years behind schedule, to come later in 2026.
The bolstered deliveries will be “a big driver” of cash flow as well, Malave said, with positive free cash flow expected to be in the billions in the “low single digits.” Boeing hasn’t turned an annual profit since 2018.
Malave also said the company expects that cash margins will get a “pretty significant boost” through 2030 due to the higher productivity.
Boeing has been experiencing an upward trend after a period of increased scrutiny following the blowout of a door plug on a flight in January 2024. In July, CEO Kelly Ortberg said the company was beginning to see changes in its business, including slashing its quarterly losses.
Boeing saw a strong delivery pace in October, putting it on track for its highest annual delivery total since 2018. The company said its jetliner deliveries drove it back into cash-positive territory for the first time in nearly two years in October.
Those deliveries follow a lifting of restrictions by the Federal Aviation Administration, allowing the company to sign off on some of its 737 Max and 787 Dreamliner planes before they reach customers.
BlackRock, Wellington could buy $150 million worth of IPO shares
Wealthfront seeks to ride AI wave, analyst says
Fintech targets Millennials and Gen Z
Dec 2 (Reuters) – Automated digital wealth management firm Wealthfront is targeting a valuation of up to $2.05 billion in its U.S. initial public offering, it said on Tuesday, becoming the latest to test a trend of strong investor appetite for fintech listings.
The Palo Alto, California-based company plans to raise as much as $485 million by selling 34.6 million shares, including stock offered by existing shareholders, at a price range of $12 to $14 each.
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Lukas Muehlbauer, a research analyst at IPOX, said Wealthfront is positioning itself at the intersection of artificial intelligence and fintech, allowing it to “ride the current high-valuation wave for AI-adjacent technologies.”
This year, fintech companies such as Sweden’s Klarna (KLAR.N), opens new tab, U.S. digital bank Chime (CHYM.O), opens new tab and Israeli trading platform eToro have attracted strong demand on their market debuts.
The U.S. IPO market has recovered after a slowdown fueled by trade policy uncertainty, as rising odds of a Federal Reserve interest rate cut have boosted investor demand for fresh offerings.
“Demand for new listings remains high, but a bad news cycle can still dampen sentiment, as seen several times this year,” Muehlbauer said.
Wealthfront, founded in 2008, provides automated tools and software for cash accounts, low-cost loans and investing in ETFs and bonds, as well as planning tools tailored to Millennial and Gen Z clients.
Funds run by BlackRock and Wellington Management indicated an interest in buying up to $150 million of IPO shares, according to the filing.
Wealthfront intends to list on the Nasdaq Stock Market under the “WLTH” symbol. Goldman Sachs, J.P. Morgan and Citigroup are among the underwriters for the offering.
In 2022, Wealthfront was valued at $1.4 billion when a planned sale to Swiss bank UBS collapsed following reported shareholder pushback.
Reporting by Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed
Our Standards: The Thomson Reuters Trust Principles., opens new tab
The Reserve Bank’s Monetary Policy Committee will begin its three-day meeting tomorrow to decide the key rates and announcements for the bi-monthly monetary policy review that will be announced by RBI Governor Sanjay Malhotra on Friday.
It may be recalled that RBI had started the rate easing cycle in February this year and had reduced the repo rate by 100 basis points in three tranches to 5.5 per cent, before hitting the pause button in August.
Going forward, some experts believe that the RBI may continue with the pause on interest rates as economic growth has picked up, sustained by fiscal consolidation, targeted public investment, and various reforms, such as the GST rate cut. However, a few others believe that the MPC may cut the benchmark lending rate by 25 bps as inflationary pressures are subdued.
A research report from the State Bank of India’s economic research department has said that monetary policy has entered a phase of pause with differences across geographies. It, however, suggested that it is important to continue with decisions beyond direct rate actions, but towards affirmative actions outside policy space. On the other hand, Crisil’s Chief Economist, Dharmakirti Joshi expects a 25 basis point cut considering the significant decline in retail inflation.
(Bloomberg) — Stocks staged a comeback as a global flight from risky assets faded, with Bitcoin halting its slide to support the shift in tone.
S&P 500 futures rose 0.3%, signaling the resumption of gains after Monday’s losses broke a rally that delivered the benchmark’s best week since May. European and Asian stocks also advanced. Nasdaq 100 contracts climbed 0.4%.
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Bitcoin steadied after slumping more than 5%. Treasury yields at the longer end rose after a quiet start, with the 10-year rate up two basis points to 4.11%. The dollar was little changed.
The moves offered relief after a shaky start to what is typically a strong month for equities. Focus now shifts to the Federal Reserve for clues on the US rate outlook at next week’s meeting, with markets treating a cut as all but certain.
“For long-only investors like we are, I’d say in the absence of any major catalyst, it’s very much wait-and-see until the Fed meeting, while keeping an eye on US jobs and inflation data,” said Karen Georges, a fund manager at Ecofi Investissements in Paris.
Traders are looking for their next leg higher after a choppy November, when investors shifted into defensive sectors on concerns that lofty valuations could stall tech-driven gains. While global equities remain near record highs, the riskiest parts of the market are no longer drawing buyers as they once did.
Much now depends on the Fed’s decision at next week’s meeting. Disappointment would pose a risk for equities, though confidence in a cut remains high following softer labor and inflation data and a run of dovish comments from officials.
“Dips continue to present attractive buying opportunities,” wrote Michael Brown, senior research strategist at Pepperstone. “The narrative behind that bull case remains an attractive one, with earnings growth solid, the underlying economy resilient, a calmer tone on trade continuing to prevail, and the monetary backdrop growing looser.”
Anyone wagering against US stocks this month should factor in the economy’s strength and continued artificial-intelligence enthusiasm, according to 22V Research. Its strategists argued that robust consumer spending and ongoing AI investment will support productivity, allowing the profit growth needed to keep equities climbing.
US equity short sellers were down $80 billion in mark-to-market losses in the final week of November, according to data compiled by S3 Partners. That wiped out the bulk of what had been nearly $95 billion in month-to-date profits going into that period.
In commodities, silver pulled back from a record high, with a technical gauge showing that a six-day rally had pushed the metal into overbought territory. Copper also retreated amid signs that softer Chinese demand heading into winter might help to ease a looming global supply crunch.
What Bloomberg Strategists say…
“As Bitcoin steadies from Monday’s slump, it’s important to remember that recent downturns of this magnitude have often been followed by a recovery to fresh record highs. There is a reliable pillar of support for Bitcoin that should remain in place through next year: Federal Reserve interest-rate cuts should loosen financial conditions.”
— Conor Cooper, Macro Squawk. Click here to read the full analysis.
Corporate News:
MongoDB Inc. rose 24% in premarket trading after the database softwar firm reported stronger-than-expected results and raised its full-year target. ISS A/S shares slumped in Copenhagen amid concerns over the Danish company’s role in the renovation of a Hong Kong apartment fire where a deadly fire broke out on Nov. 26. Warner Bros. Discovery Inc. was fielding a second round of bids on Monday, including a mostly cash offer from Netflix Inc., in an auction that could wrap up in the coming days or weeks, according to people familiar with the discussions. Bank of Nova Scotia topped estimates on better-than-expected results at its capital-markets and wealth-management divisions even as it booked a restructuring charge to cut expenses. Bayer AG shares surged as much as 14%, hitting the highest level since January 2024, after the US Solicitor General urged the high court to consider the German company’s appeal targeting thousands of lawsuits blaming its Roundup weedkiller for causing cancer. Some of the main moves in markets:
Stocks
S&P 500 futures rose 0.3% as of 8:27 a.m. New York time Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average rose 0.1% The Stoxx Europe 600 rose 0.1% The MSCI World Index was little changed Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1616 The British pound was little changed at $1.3205 The Japanese yen fell 0.4% to 156.04 per dollar Cryptocurrencies
Bitcoin rose 1.1% to $87,404.54 Ether rose 1.7% to $2,839.32 Bonds
The yield on 10-year Treasuries advanced two basis points to 4.11% Germany’s 10-year yield advanced one basis point to 2.76% Britain’s 10-year yield advanced two basis points to 4.50% Commodities
West Texas Intermediate crude fell 0.2% to $59.19 a barrel Spot gold fell 0.6% to $4,207 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Alexandra Semenova and Michael Msika.
A leading thinktank has warned Rachel Reeves that tight government spending and higher taxes will restrict consumer expenditure, despite it predicting the UK economy will grow at a faster pace than France, Germany and Italy next year.
Analysts at the Organisation for Economic Cooperation and Development (OECD) said the government’s ongoing “fiscal consolidation” – meaning higher taxes and reduced government spending – would act as a “headwind” to the UK economy, with “past tax and spending adjustments weighing on household disposable income and slowing consumption”.
The Paris-based organisation predicted that the UK economy would expand by 1.2% next year, while the big three eurozone economies would each fail to reach 1%.
Offering a boost to Reeves after she faced calls to resign after the budget, the UK’s growth rate was upgraded from a previous forecast of 1% for next year. However, that represents a slowdown from the 1.4% growth predicted for this year, unchanged from the last forecast three months ago.
The chancellor – who has put an emphasis on growing the UK economy – announced £26bn worth of tax rises in last week’s budget, with measures including a freeze on income tax thresholds that will leave 1.7 million people paying more, taking the tax burden to an all-time high, according to the Office for Budget Responsibility (OBR).
Separately, the OECD said the US economy would grow by 1.7% next year, down from 2% this year and 2.4% in 2024, in a blow to Donald Trump’s efforts to increase growth by restricting imports and reducing regulations on big industries.
In a report that highlighted how a flurry of activity this year to cope with Trump’s tariffs had given a temporary lift to many economies, the OECD said there would be a return to lower, stagnant rates of expansion across much of the industrialised world.
The UK, like most industrialised countries, is expected to reduce interest rates as inflation is predicted to gradually return to a 2% target by mid-2027. The report predicts there will be two more reductions in rates, from 4% now to 3.5% in the second quarter of 2026, but this will mark the end of rate cuts.
The chancellor welcomed the prospect of higher growth and lower inflation. She said: “Last week my budget cut waiting lists, cut borrowing and debt and cut the cost of living. Less than a week later, the OECD has upgraded our growth and cut its forecast for inflation next year.”
The UK’s economic establishment was rocked on Monday by the resignation of Richard Hughes, the chair of the OBR, which provides the Treasury with independent forecasts of the economic outlook and government finances.
Hughes quit after a report said the leadership of the OBR should take responsibility for information about the budget being accessed before the chancellor’s speech, breeching a longstanding protocol. Hughes was also in the midst of a dispute with Reeves over whether she had misled the public about the state of the public finances based on private briefings by the OBR.
Most governments are expected to struggle to accelerate growth next year while they impose tight spending controls and restrict borrowing levels, limiting their ability to increase investment and raise living standards.
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Mathias Cormann, the OECD secretary general, described the return of low growth as a mark of resilience amid global uncertainty about trade. However, he said there were concerns about low levels of productivity across the OECD’s 38 member countries, which also include Vietnam, Mexico, Canada and Costa Rica.
The OECD report said: “The global economy has been resilient this year, despite concerns about a sharper slowdown in the wake of higher trade barriers and significant policy uncertainty. Activity has held up thanks to front-loading of production and trade, strong AI-related investment and supportive fiscal and monetary policies.
“Yet, global trade growth moderated in the second quarter of this year, and we expect higher tariffs to gradually feed through to higher prices, reducing growth in household consumption and business investment. Labour markets are still relatively tight, but are showing signs of easing, as job openings have fallen back to their pre-pandemic levels of 2019.”
In line with most other international forecasters, the OECD said global economic growth would slow from 3.3% in 2024 to 3.2% in 2025 and 2.9% in 2026, followed by a small rebound to 3.1% in 2027.
In October the International Monetary Fund said global growth was projected to slow from 3.3% in 2024 to 3.2% in 2025 and 3.1% in 2026.
In an apparent rebuke to Trump, Cormann said: “Constructive dialogue between countries is central to ensure a lasting resolution to trade tensions and improve the economic outlook.”
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Barclays’ chief executive has suggested that fintech rival Revolut has benefited from its lack of a full UK banking licence, with the fast-growing digital start-up not required to meet some “very important consumer obligations” imposed on traditional lenders.
CS Venkatakrishnan told the FT Global Banking Summit on Tuesday that fintechs had “really laid down the gauntlet to the banks in terms of the quality of services they provide”.
However, he suggested that banks were not operating on a level playing field with digital challengers such as Revolut.
“There is another side of it, which is that they don’t have a full banking licence in the UK, so they are free from some of the very important consumer obligations that we have to fulfil to society,” said Venkatakrishnan.
“I think we should continue to operate with our standards, with our integrity, with our regulation. If we can marry them, we will be happy,” he added.
Revolut secured a $75bn valuation in a fundraising round that concluded last week, briefly making it worth more than Barclays.
The banking start-up has become one of Europe’s most valuable fintechs, helped by a boom in demand for its crypto services. Revolut has 65mn customers globally, with 12mn in the UK.
Paul Thwaite, the NatWest chief executive, said in a separate interview at the summit that he was not concerned about being overtaken in valuation terms by Revolut, which he called a “very different business” compared with “a NatWest or a Barclays”.
“I don’t lose sleep thinking about market capitalisation. I lose sleep thinking about how we have got the best possible product and proposition to deliver to our clients,” he said.
Thwaite added: “Companies like Revolut have raised the bar in terms of the retail proposition so that is the lens I am looking at it through. What are they doing for their customers? What do we think we are doing better than what they are doing? What do I think we need to be better at?”
UK regulators are yet to award Revolut a full banking licence, capping the deposits it can take in and limiting its ability to lend, in part because of the rapid growth of its overseas operations.
Revolut said: “As a UK payment service provider, Revolut abides by the same regulatory and consumer protection standards as any traditional bank or other financial institution.”
Venkatakrishnan said that Barclays took on its consumer obligations “willingly and happily”.
He also commended UK chancellor Rachel Reeves after last week’s Budget for focusing on growth and building a greater fiscal buffer into the public finances.
“On balance, [the Budget] is a very good job. It is a good job that gives this government the room to take the next steps to promote growth and productivity, which is really what is needed,” he said.
Last week, Barclays announced it would be boosting investment in the UK by £45bn over the next three years.
“These are not small amounts and this reflects our confidence [in the UK],” said Venkatakrishnan.
