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The money side of tech: funding, valuations, listings, jobs and the companies behind the headlines.

HSBC's 'brutal' AI cuts: what happens to your adviser?

HSBC is reportedly cutting up to 70% of its UK financial advisers as AI and digital tools take over. The numbers come from one anonymous source, but the direction is clear, and customers should take note.

HMRC bets up to £2.4bn that Salesforce can end the queue

HMRC has picked Salesforce for a customer system deal worth up to £2.4bn, running to 2036 and possibly 2041. It promises shorter queues. It also means years of lock-in.

SaxaVord's first launch is near. It won't reach orbit

HyImpulse plans a suborbital launch from Shetland's SaxaVord between 5 and 18 October, while ESA puts another €2.7m into RFA's delayed orbital rocket. Britain's first vertical launch is close, sort of.

A billion dollars for UK AI. Who ends up owning it?

Emulate, ElevenLabs and Tandem Health are raising well over $1bn between them. Only some of it is backed by revenue, and very little of the money is British.

AMD hits $1tn as lenders start asking awkward questions

AMD is now worth $1 trillion, but bond buyers are charging AI giants more to borrow and a central banker has said the B-word. Here's why it matters for UK pensions and ISAs.

Nscale raises $3.36bn. It'll list in New York, not London

London-based AI cloud firm Nscale has raised $3.36bn ahead of a New York listing. Its flagship UK data centre, meanwhile, may wait until the 2030s for power. That's the British AI story in one week.

Tekever hits $6.4bn as the Army's new spy drone takes off

Drone maker Tekever has raised $580m at a $6.4bn valuation, days after signing to replace the British Army's Watchkeeper. The UK link is real. Some of the headline numbers need a closer look.

London finally gets a big IPO. It's an African fintech

Airtel Money, the mobile-payments arm of Airtel Africa, plans a London listing worth up to $9bn. It could be the UK's biggest IPO since 2021, which says as much about London as it does about Airtel.