The Technology Authority

Senate passes $250 billion tech bill aimed to boost U.S. competition with China

A worker at the photolithography section of a semiconductor plant of the Mikron Group in Zelenograd, Moscow.

Anton Novoderezhkin | TASS | Getty Images

The Senate on Tuesday passed one of the largest industrial bills in U.S. history in a bipartisan effort to ensure the U.S. remains competitive with China as one of the globe’s technological powerhouses.

The bill, which passed the chamber 68-32, commits roughly $250 billion in funding for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation.

The scope of the bill, the final product of at least six Senate

Read More

UiPath Rises in Trading Debut After $1.3 Billion Software IPO

(Bloomberg) — Automation software maker UiPath Inc. climbed in its trading debut after its $1.3 billion initial public offering, surpassing its valuation in a private funding round this year.

The shares closed up 23% to $69 Wednesday in New York, giving UiPath a market valuation of about $36 billion and a fully diluted value, including employee stock options and restricted stock units, of more than $38 billion. The company and investors sold almost 24 million shares on Tuesday for $56 each.

While the IPO priced above a marketed range, it still left the company with a lower valuation than in

Read More

UiPath IPO: 5 things to know about the ‘software robots’ company valued at nearly $30 billion

UiPath Inc. is launching its initial public offering at a valuation close to what it received from venture-capital investors, with help from automation it cheerfully calls “software robots.”

makes software that helps automate business tasks, and sets itself apart from rivals by allowing employees without coding experience to customize artificial-intelligence capabilities.

“Traditional automation solutions intended to reduce this friction have generally been designed to be used by developers and engineers, rather than the employees directly involved in executing the actual work being automated,” the company said in its filing with the Securities and Exchange Commission.

“Our platform leverages

Read More

UiPath IPO to raise nearly $1.5 billion as cloud stocks retreat

UiPath co-founder and CEO Daniel Dines


UiPath’s New York Stock Exchange debut scheduled for Wednesday will mark one of the biggest software IPOs in U.S. history and will be the most hyped first trade for cloud investors since Snowflake went public in September.

But the company, whose software helps businesses automate office tasks, has to contend with escalating investor concern over frothy valuations and a market rotation away from high-growth tech.

In recent years, cloud has been a can’t-miss bet. From Zoom’s skyrocketing popularity after its 2019 IPO and Shopify’s growth in e-commerce, to surging demand for cloud security

Read More

The $1 billion Russian cyber company that the US says hacks for Moscow

The public side of Positive is like many cybersecurity companies: staff look at high-tech security, publish research on new threats, and even have cutesy office signs that read “stay positive!” hanging above their desks. The company is open about some of its links to the Russian government, and boasts an 18-year track record of defensive cybersecurity expertise including a two-decade relationship with the Russian Ministry of Defense. But according to previously unreported US intelligence assessments, it also develops and sells weaponized software exploits to the Russian government. 

One area that’s stood out is the firm’s work on SS7, a technology

Read More

Microsoft to Buy Artificial Intelligence Provider for $16 Billion

Microsoft said on Monday that it would buy Nuance Communications, a provider of artificial-intelligence and speech-recognition software, for about $16 billion, as it pushes to expand its health care technology services.

In acquiring Nuance, whose products include the transcription tool Dragon, Microsoft is hoping to bolster its offerings for the fast-growing field of medical computing. Nuance has an established set of customers as well as a wide array of speech and text data related to health care, which is often a vital part of building new systems.

Microsoft and Nuance have been working together since 2019, but the acquisition

Read More