Capital
Moneybox Became a Unicorn Without Raising a Penny
Moneybox reached an 800 million pound valuation through a staff share sale on the London Stock Exchange's new PISCES market, not a fundraise. Here is why that matters for owners.
All news
Cybersecurity
Eleven Signed Bootloaders Can Bypass Secure Boot
ESET found eleven old Microsoft-signed bootloaders that slip past Secure Boot on almost any PC, with no admin rights needed. Patching them is the easy part. Here is the exposure most fleets never audit.
Capital
Europe's Funding Rebound Skipped Most Startups
European startups raised $24 billion in Q2 2026, the best in four years, but 65 percent went to 42 companies. Here is what that concentration means for the software you buy.
Digital Sovereignty
Choosing an EU Region Will Not Stop a Subpoena
Valarian raised $50m to sell a control layer that sits on top of AWS or Azure. The reason: a data-residency setting is not sovereignty when the provider answers to US law.
Artificial Intelligence
On 24 July, deepseek-chat Stops Answering
DeepSeek retires the deepseek-chat and deepseek-reasoner names on 24 July at 15:59 UTC. The louder problem is that those names already point at a different model than the one you think you pinned.
Capital
IBM's Worst Day Ever Is a Memory Price Warning
IBM lost roughly a quarter of its value in one session. Its CEO says clients moved quarterly budget into servers, storage and memory to beat price rises. That is a warning about your 2027 budget.
Energy
Europe Already Ran New York's Data Centre Freeze
New York paused permits for new hyperscale data centres for up to a year. Dublin and Amsterdam did it first, and the terms they reopened on tell you what your next capacity contract will cost.
Capital
A Defence Prime Just Funded Its Own Unbundling
Project Q raised 15 million euros for HYDRIS, an open-source platform that makes defence kit swappable. One of the investors is a listed defence prime.
Infrastructure
Albania's Domains Went Dark. Germany's Did in May.
A botched key rollover took .AL off the internet, ten weeks after the same thing hit .de. Both times the fix was resolvers switching DNSSEC validation off.
Cybersecurity
570 Windows Patches in One Day, Two Already Exploited
Microsoft fixed 570 flaws on 14 July, nearly three times its June record. Two are already exploited, and a BitLocker bypass weakens your breach defence.
Cybersecurity
Microsoft Stops Sending Your MFA Texts in February
Microsoft stops delivering SMS and voice MFA codes in Entra ID on 1 February 2027 and makes passkeys the default from 1 September 2026. The retirement date is fixed, but the price of the only alternative is not published until 18 September, so the migration has to be planned before the fallback can be costed.
Energy
Blackstone Takes 49% of Five AI Power Plants
Williams sold 49% of five dedicated power projects to Blackstone, Apollo and KKR for $5.34 billion. Insurance money now underwrites the electricity behind AI - and that puts a floor under the price of compute that cheaper chips cannot cut through.
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The Operator Brief
One considered note on infrastructure, governance, and measurement, most mornings. No theory.