Latest AI News

Arm Holdings plans to start designing and selling its own AI processors in 2025, a significant departure from its traditional licensing-only business model. This strategic shift aims to increase revenue by targeting AI workloads and data center applications. While Arm will design chips in-house, manufacturing will be outsourced to partners like TSMC. Meta has already been secured as an initial customer. This move puts Arm in direct competition with its own clients, including major chip manufacturers. The first prototype is expected by summer 2025, leveraging Arm's reputation for energy efficiency and customizability to compete in the growing AI processor market against both x86 architecture incumbents and custom silicon developers.

New York-based fintech Ramp has secured a $22.5 billion valuation following a $500 million funding round led by ICONIQ, with support from several major investors. This marks a dramatic 41% increase from its June valuation. The company offers corporate cards, payment services, and expense management tools to over 40,000 clients, including CBRE and Anduril. Ramp recently launched AI agents to automate finance and compliance functions, with plans to expand these capabilities. Having achieved positive cash flow earlier this year, Ramp's success signals renewed investor confidence in AI-driven fintech companies, potentially ending what some called the fintech "ice age."

Helion Energy has started building the world's first commercial fusion power plant in Washington state, which will supply 50 megawatts of electricity to Microsoft data centers by 2028. Unlike traditional nuclear reactors, Helion uses a pulsed fusion method that's easier to control. The company has raised over $1 billion in funding from investors including OpenAI CEO Sam Altman. This groundbreaking project could deliver carbon-free electricity without radioactive waste concerns, though skeptics note no company has yet produced commercially viable fusion power at scale.

Fintech leader Ramp secured $500 million in funding led by ICONIQ, reaching a $22.5 billion valuation. The company specializes in corporate cards, payment services, and expense management, recently expanding to travel management and treasury products. Ramp's AI-driven platform has attracted investments from Founders Fund, Sands Capital and others, bringing total equity financing to $1.9 billion.