VulcanForms was founded in 2015 by Dr. Hart and one of his graduate students, Martin Feldmann. They pursued a fresh approach for 3-D printing that uses an array of many more laser beams than existing systems. It would require innovations in laser optics, sensors and software to choreograph the intricate dance of laser beams.

By 2017, they had made enough progress to think they could build a machine, but would need money to do it. The pair, joined by Anupam Ghildyal, a serial start-up veteran who had become part of the VulcanForms team, went to Silicon Valley. They secured a seed round of $2 million from Eclipse Ventures.

The VulcanForms technology, recalled Greg Reichow, a partner at Eclipse, was trying to address the three shortcomings of 3-D printing: too slow, too expensive and too ridden with defects.

Arwood Machine this year.

Arwood is a modern machine shop that mostly does work for the Pentagon, making parts for fighter jets, underwater drones and missiles. Under VulcanForms, the plan over the next few years is for Arwood to triple its investment and work force, currently 90 people.

VulcanForms, a private company, does not disclose its revenue. But it said sales were climbing rapidly, while orders were rising tenfold quarter by quarter.

Cerebras, which makes specialized semiconductor systems for artificial intelligence applications. Cerebras sought out VulcanForms last year for help making a complex part for water-cooling its powerful computer processors.

The semiconductor company sent VulcanForms a computer-design drawing of the concept, an intricate web of tiny titanium tubes. Within 48 hours VulcanForms had come back with a part, recalled Andrew Feldman, chief executive of Cerebras. Engineers for both companies worked on further refinements, and the cooling system is now in use.

Accelerating the pace of experimentation and innovation is one promise of additive manufacturing. But modern 3-D printing, Mr. Feldman said, also allows engineers to make new, complex designs that improve performance. “We couldn’t have made that water-cooling part any other way,” Mr. Feldman said.

“Additive manufacturing lets us rethink how we build things,” he said. “That’s where we are now, and that’s a big change.”

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How China Is Policing the Future

The more than 1.4 billion people living in China are constantly watched. They are recorded by police cameras that are everywhere, on street corners and subway ceilings, in hotel lobbies and apartment buildings. Their phones are tracked, their purchases are monitored, and their online chats are censored.

Now, even their future is under surveillance.

The latest generation of technology digs through the vast amounts of data collected on their daily activities to find patterns and aberrations, promising to predict crimes or protests before they happen. They target potential troublemakers in the eyes of the Chinese government — not only those with a criminal past but also vulnerable groups, including ethnic minorities, migrant workers and those with a history of mental illness.

They can warn the police if a victim of a fraud tries to travel to Beijing to petition the government for payment or a drug user makes too many calls to the same number. They can signal officers each time a person with a history of mental illness gets near a school.

automating systemic discrimination and political repression.

to quell ethnic unrest in the western region of Xinjiang and enforce some of the world’s most severe coronavirus lockdowns. The space for dissent, always limited, is rapidly disappearing.

“Big data should be used as an engine to power the innovative development of public security work and a new growth point for nurturing combat capabilities,” Mr. Xi said in 2019 at a national public security work meeting.

ChinaFile, an online magazine published by the Asia Society, which has systematically gathered years of records on government websites. Another set, describing software bought by the authorities in the port city of Tianjin to stop petitioners from going to neighboring Beijing, was provided by IPVM, a surveillance industry publication.

China’s Ministry of Public Security did not respond to requests for comment faxed to its headquarters in Beijing and six local departments across the country.

The new approach to surveillance is partly based on data-driven policing software from the United States and Europe, technology that rights groups say has encoded racism into decisions like which neighborhoods are most heavily policed and which prisoners get parole. China takes it to the extreme, tapping nationwide reservoirs of data that allow the police to operate with opacity and impunity.

Megvii, an artificial intelligence start-up, told Chinese state media that the surveillance system could give the police a search engine for crime, analyzing huge amounts of video footage to intuit patterns and warn the authorities about suspicious behavior. He explained that if cameras detected a person spending too much time at a train station, the system could flag a possible pickpocket.

Hikvision, that aims to predict protests. The system collects data on legions of Chinese petitioners, a general term in China that describes people who try to file complaints about local officials with higher authorities.

It then scores petitioners on the likelihood that they will travel to Beijing. In the future, the data will be used to train machine-learning models, according to a procurement document.

Local officials want to prevent such trips to avoid political embarrassment or exposure of wrongdoing. And the central government doesn’t want groups of disgruntled citizens gathering in the capital.

A Hikvision representative declined to comment on the system.

Under Mr. Xi, official efforts to control petitioners have grown increasingly invasive. Zekun Wang, a 32-year-old member of a group that for years sought redress over a real estate fraud, said the authorities in 2017 had intercepted fellow petitioners in Shanghai before they could even buy tickets to Beijing. He suspected that the authorities were watching their communications on the social media app WeChat.

The Hikvision system in Tianjin, which is run in cooperation with the police in nearby Beijing and Hebei Province, is more sophisticated.

The platform analyzes individuals’ likelihood to petition based on their social and family relationships, past trips and personal situations, according to the procurement document. It helps the police create a profile of each, with fields for officers to describe the temperament of the protester, including “paranoid,” “meticulous” and “short tempered.”

Many people who petition do so over government mishandling of a tragic accident or neglect in the case — all of which goes into the algorithm. “Increase a person’s early-warning risk level if they have low social status or went through a major tragedy,” reads the procurement document.

When the police in Zhouning, a rural county in Fujian Province, bought a new set of 439 cameras in 2018, they listed coordinates where each would go. Some hung above intersections and others near schools, according to a procurement document.

Nine were installed outside the homes of people with something in common: mental illness.

While some software tries to use data to uncover new threats, a more common type is based on the preconceived notions of the police. In over a hundred procurement documents reviewed by The Times, the surveillance targeted blacklists of “key persons.”

These people, according to some of the procurement documents, included those with mental illness, convicted criminals, fugitives, drug users, petitioners, suspected terrorists, political agitators and threats to social stability. Other systems targeted migrant workers, idle youths (teenagers without school or a job), ethnic minorities, foreigners and those infected with H.I.V.

The authorities decide who goes on the lists, and there is often no process to notify people when they do. Once individuals are in a database, they are rarely removed, said experts, who worried that the new technologies reinforce disparities within China, imposing surveillance on the least fortunate parts of its population.

In many cases the software goes further than simply targeting a population, allowing the authorities to set up digital tripwires that indicate a possible threat. In one Megvii presentation detailing a rival product by Yitu, the system’s interface allowed the police to devise their own early warnings.

With a simple fill-in-the-blank menu, the police can base alarms on specific parameters, including where a blacklisted person appears, when the person moves around, whether he or she meets with other blacklisted people and the frequency of certain activities. The police could set the system to send a warning each time two people with a history of drug use check into the same hotel or when four people with a history of protest enter the same park.

Yitu did not respond to emailed requests for comment.

In 2020 in the city of Nanning, the police bought software that could look for “more than three key people checking into the same or nearby hotels” and “a drug user calling a new out-of-town number frequently,” according to a bidding document. In Yangshuo, a tourist town famous for its otherworldly karst mountains, the authorities bought a system to alert them if a foreigner without a work permit spent too much time hanging around foreign-language schools or bars, an apparent effort to catch people overstaying their visas or working illegally.

In Shanghai, one party-run publication described how the authorities used software to identify those who exceeded normal water and electricity use. The system would send a “digital whistle” to the police when it found suspicious consumption patterns.

The tactic was likely designed to detect migrant workers, who often live together in close quarters to save money. In some places, the police consider them an elusive, and often impoverished, group who can bring crime into communities.

The automated alerts don’t result in the same level of police response. Often, the police give priority to warnings that point to political problems, like protests or other threats to social stability, said Suzanne E. Scoggins, a professor at Clark University who studies China’s policing.

At times, the police have stated outright the need to profile people. “Through the application of big data, we paint a picture of people and give them labels with different attributes,” Li Wei, a researcher at China’s national police university, said in a 2016 speech. “For those who receive one or more types of labels, we infer their identities and behavior, and then carry out targeted pre-emptive security measures.”

Mr. Zhang first started petitioning the government for compensation over the torture of his family during the Cultural Revolution. He has since petitioned over what he says is police targeting of his family.

As China has built out its techno-authoritarian tools, he has had to use spy movie tactics to circumvent surveillance that, he said, has become “high tech and Nazified.”

When he traveled to Beijing in January from his village in Shandong Province, he turned off his phone and paid for transportation in cash to minimize his digital footprint. He bought train tickets to the wrong destination to foil police tracking. He hired private drivers to get around checkpoints where his identification card would set off an alarm.

The system in Tianjin has a special feature for people like him who have “a certain awareness of anti-reconnaissance” and regularly change vehicles to evade detection, according to the police procurement document.

Whether or not he triggered the system, Mr. Zhang has noticed a change. Whenever he turns off his phone, he said, officers show up at his house to check that he hasn’t left on a new trip to Beijing.

Credit…Zhang Yuqiao

Even if police systems cannot accurately predict behavior, the authorities may consider them successful because of the threat, said Noam Yuchtman, an economics professor at the London School of Economics who has studied the impact of surveillance in China.

“In a context where there isn’t real political accountability,” having a surveillance system that frequently sends police officers “can work pretty well” at discouraging unrest, he said.

Once the metrics are set and the warnings are triggered, police officers have little flexibility, centralizing control. They are evaluated for their responsiveness to automated alarms and effectiveness at preventing protests, according to experts and public police reports.

The technology has encoded power imbalances. Some bidding documents refer to a “red list” of people whom the surveillance system must ignore.

One national procurement document said the function was for “people who need privacy protection or V.I.P. protection.” Another, from Guangdong Province, got more specific, stipulating that the red list was for government officials.

Mr. Zhang expressed frustration at the ways technology had cut off those in political power from regular people.

“The authorities do not seriously solve problems but do whatever it takes to silence the people who raise the problems,” he said. “This is a big step backward for society.”

Mr. Zhang said that he still believed in the power of technology to do good, but that in the wrong hands it could be a “scourge and a shackle.”

“In the past if you left your home and took to the countryside, all roads led to Beijing,” he said. “Now, the entire country is a net.”

Isabelle Qian and Aaron Krolik contributed research and reporting. Production by Agnes Chang and Alexander Cardia.

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Google Sidelines Engineer Who Claims Its A.I. Is Sentient

SAN FRANCISCO — Google placed an engineer on paid leave recently after dismissing his claim that its artificial intelligence is sentient, surfacing yet another fracas about the company’s most advanced technology.

Blake Lemoine, a senior software engineer in Google’s Responsible A.I. organization, said in an interview that he was put on leave Monday. The company’s human resources department said he had violated Google’s confidentiality policy. The day before his suspension, Mr. Lemoine said, he handed over documents to a U.S. senator’s office, claiming they provided evidence that Google and its technology engaged in religious discrimination.

Google said that its systems imitated conversational exchanges and could riff on different topics, but did not have consciousness. “Our team — including ethicists and technologists — has reviewed Blake’s concerns per our A.I. Principles and have informed him that the evidence does not support his claims,” Brian Gabriel, a Google spokesman, said in a statement. “Some in the broader A.I. community are considering the long-term possibility of sentient or general A.I., but it doesn’t make sense to do so by anthropomorphizing today’s conversational models, which are not sentient.” The Washington Post first reported Mr. Lemoine’s suspension.

fired a researcher who had sought to publicly disagree with two of his colleagues’ published work. And the dismissals of two A.I. ethics researchers, Timnit Gebru and Margaret Mitchell, after they criticized Google language models, have continued to cast a shadow on the group.

neural network, which is a mathematical system that learns skills by analyzing large amounts of data. By pinpointing patterns in thousands of cat photos, for example, it can learn to recognize a cat.

Over the past several years, Google and other leading companies have designed neural networks that learned from enormous amounts of prose, including unpublished books and Wikipedia articles by the thousands. These “large language models” can be applied to many tasks. They can summarize articles, answer questions, generate tweets and even write blog posts.

But they are extremely flawed. Sometimes they generate perfect prose. Sometimes they generate nonsense. The systems are very good at recreating patterns they have seen in the past, but they cannot reason like a human.

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Taser maker halts drone project; most of its ethics panel resigns

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The headquarters for Axon Enterprise Inc, formerly Taser International, is seen in Scottsdale, Aizona, U.S., May 17, 2017. Picture taken May 17, 2017. To match Special Report USA-TASER/EXPERTS REUTERS/Ricardo Arduengo

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June 6 (Reuters) – Taser-maker Axon Enterprise Inc (AXON.O) said it was halting a project to equip drones with stun guns to combat mass shootings, a reversal that did not stop most of its ethics advisory board members from announcing their resignation on Monday in protest over the original plans.

The May 24 school shooting in Uvalde, Texas, which killed 19 children and two teachers, prompted Axon to announce last week it was working on a drone that first responders could operate remotely to fire a Taser at a target about 40 feet (12 m) away.

Nine of 12 members of the company’s AI Ethics Board quit over concerns the drones would harm over-policed communities and that Axon publicized its ambitions without consulting the group. The resignations and Axon’s scuttled plans were first reported by Reuters.

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“In light of feedback, we are pausing work on this project and refocusing to further engage with key constituencies to fully explore the best path forward,” Chief Executive Rick Smith said in a statement.

The action by ethics board members marked a rare public rebuke for one of the watchdog groups some companies have set up to gather feedback on emerging technologies, such as drones and artificial intelligence (AI) software.

Smith said it was unfortunate that members withdrew before Axon could address their technical questions, but the company “will continue to seek diverse perspectives to challenge our thinking.”

Axon, which also sells body-worn cameras and policing software, has said its clients include about 17,000 out of the roughly 18,000 law enforcement agencies in the United States.

It explored the idea of a Taser-equipped drone for police since at least 2016, and Smith depicted how one could stop an active shooter in a graphic novel he wrote. The novel shows a daycare center with what looks like an enlarged smoke alarm, which first recognizes the sound of gunfire and then ejects a drone, identifying and tasing the shooter in two seconds.

Axon first approached its ethics board more than a year ago about Taser-equipped drones, and the panel last month voted eight to four against running a limited police pilot of the technology.

The company announced the drone idea anyway, as it said it wanted to get past “fruitless debates” on guns after the Uvalde shooting, sending shares up nearly 6%. They were down 0.5% on Monday.

Ethics board members worried the drones could exacerbate racial injustice, undermine privacy through surveillance and become more lethal if other weapons were added, member Wael Abd-Almageed said in an interview.

“What we have right now is just dangerous and irresponsible,” said Abd-Almageed, an engineering research associate professor at University of Southern California.

The board likewise had not evaluated use of the drones by first responders outside police, it said. And members questioned how a drone could navigate closed doors to stop a shooting.

The drone is “distracting society from real solutions to a tragic problem,” resigning board members said in a Monday statement.

CEO Smith has said drones could be stationed in hallways and move into rooms through special vents. A drone system would cost a school about $1,000 annually, he said.

Formed in 2018, the ethics panel has guided Axon productively on sensitive technologies such as facial recognition in the past.

Giles Herdale, one of the remaining ethics board members, told Reuters he chose not to resign because he could have more influence “if I am in the tent than outside it.”

For others, the company’s drone announcement prior to a formal report by the board broke with practice, said member Ryan Calo, a University of Washington law professor.

“I’m not going to stay on an advisory board for a company that departs so far from expectation and protocol or, frankly, who believes ubiquitous surveillance coupled with remote non-lethal weapons is a viable response to school shootings,” he said.

Barry Friedman, the board chairman, resigned as well.

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Reporting by Jeffrey Dastin in Palo Alto, Calif., and Paresh Dave in Oakland, Calif.; Editing by Clarence Fernandez, Robert Birsel and Tomasz Janowski

Our Standards: The Thomson Reuters Trust Principles.

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Why Isn’t New Technology Making Us More Productive?

The goal is not to replace workers but to lift their performance, said Zayd Enam, the company’s co-founder and chief executive. Cresta’s offering, he said, is made possible by recent advances in the power and speed of A.I. software, which he described as “game changing.”

Cresta has 200 employees, has raised more than $150 million in venture funding and has several dozen corporate customers including Verizon, Cox Communications and Porsche.

CarMax, the nation’s largest used-car retailer, started trying out the Cresta software in December. The A.I. experiment followed years of investment to shift the company’s computer operations to run on more flexible, cloud-based systems, said Jim Lyski, executive vice president for strategy, marketing and products.

Customer inquiries to CarMax’s contact centers tend to be lengthy. Used cars span different years, models, features and driving histories, and financing plans for what is a major purchase vary. The range of questions is all but unlimited, Mr. Lyski said, so purely automated communication is not an option.

But a computing assistant that could help sort all the automotive complexity, offering real-time suggestions and information, was appealing. Cresta first trained on the CarMax contact center data, and the experiment began with its live chat agents, who have text conversations with customers.

The experience has been encouraging, Mr. Lyski said. There has been about a 10 percent improvement in response time, conversion to sales and reduced session time. And the system keeps learning and getting better. The company has begun a pilot project with agents who field voice calls, lifting the total number of agents using the A.I. technology to 200.

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Another Firing Among Google’s A.I. Brain Trust, and More Discord

Less than two years after Google dismissed two researchers who criticized the biases built into artificial intelligence systems, the company has fired a researcher who questioned a paper it published on the abilities of a specialized type of artificial intelligence used in making computer chips.

The researcher, Satrajit Chatterjee, led a team of scientists in challenging the celebrated research paper, which appeared last year in the scientific journal Nature and said computers were able to design certain parts of a computer chip faster and better than human beings.

Dr. Chatterjee, 43, was fired in March, shortly after Google told his team that it would not publish a paper that rebutted some of the claims made in Nature, said four people familiar with the situation who were not permitted to speak openly on the matter. Google confirmed in a written statement that Dr. Chatterjee had been “terminated with cause.”

Google declined to elaborate about Dr. Chatterjee’s dismissal, but it offered a full-throated defense of the research he criticized and of its unwillingness to publish his assessment.

a similar paper a year earlier. Around that time, Google asked Dr. Chatterjee, who has a doctorate in computer science from the University of California, Berkeley, and had worked as a research scientist at Intel, to see if the approach could be sold or licensed to a chip design company, the people familiar with the matter said.

A.I. principles, including upholding high standards of scientific excellence. Soon after, Dr. Chatterjee was informed that he was no longer an employee, the people said.

Ms. Goldie said that Dr. Chatterjee had asked to manage their project in 2019 and that they had declined. When he later criticized it, she said, he could not substantiate his complaints and ignored the evidence they presented in response.

“Sat Chatterjee has waged a campaign of misinformation against me and Azalia for over two years now,” Ms. Goldie said in a written statement.

She said the work had been peer-reviewed by Nature, one of the most prestigious scientific publications. And she added that Google had used their methods to build new chips and that these chips were currently used in Google’s computer data centers.

Laurie M. Burgess, Dr. Chatterjee’s lawyer, said it was disappointing that “certain authors of the Nature paper are trying to shut down scientific discussion by defaming and attacking Dr. Chatterjee for simply seeking scientific transparency.” Ms. Burgess also questioned the leadership of Dr. Dean, who was one of 20 co-authors of the Nature paper.

“Jeff Dean’s actions to repress the release of all relevant experimental data, not just data that supports his favored hypothesis, should be deeply troubling both to the scientific community and the broader community that consumes Google services and products,” Ms. Burgess said.

Dr. Dean did not respond to a request for comment.

After the rebuttal paper was shared with academics and other experts outside Google, the controversy spread throughout the global community of researchers who specialize in chip design.

The chip maker Nvidia says it has used methods for chip design that are similar to Google’s, but some experts are unsure what Google’s research means for the larger tech industry.

“If this is really working well, it would be a really great thing,” said Jens Lienig, a professor at the Dresden University of Technology in Germany, referring to the A.I. technology described in Google’s paper. “But it is not clear if it is working.”

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European Green Energy Firms Often Fall Short on Financing

LONDON — When Jakob Bitner was 7, he left Russia for Germany with his parents and sister. Twenty-eight years later, he is set on solving a vexing green-energy problem that could help Germany end its dependence on imported energy from Russia, or anywhere.

The problem: how to make wind and solar energy available 24 hours a day, seven days a week, even if the sun is not shining or the wind not blowing.

The company that Mr. Bitner co-founded in Munich in 2016, VoltStorage, found some success selling storage battery packs for solar power to homeowners in Europe. Now the company is developing much larger batteries — each about the size of a shipping container — based on a chemical process that can store and discharge electricity over days, not just hours like today’s most popular battery technology.

These ambitions to overcome the unreliable nature of renewable energy fit perfectly with Europe’s targets to reduce dependence on fossil fuels. But Mr. Bitner’s company is facing a frustrating reality that threatens to undercut Europe’s plans and poses a wider challenge in the global fight against climate change: a lack of money to finish the job.

plenty of capital available globally for the multitrillion-dollar task of funding this transition to greener energy.

The war in Ukraine has made Europe’s energy transition even more urgent. The European Union has said it will cut imported Russian natural gas by two-thirds this year and completely by the end of the decade. While some of that supply will be made up by imports from other countries, such as the United States and Qatar, expanding domestic renewable energy capacity is a critical pillar to this plan.

But attracting investors to projects trying to move beyond mature technologies like solar and wind power is tough. Venture capitalists, once cheerleaders of green energy, are more infatuated with cryptocurrencies and start-ups that deliver groceries and beer within minutes. Many investors are put off by capital-intensive investments. And governments have further muddied the water with inconsistent policies that undermine their bold pledges to reduce carbon emissions.

Tony Fadell, who spent most of his career trying to turn emerging technologies into mainstream products as an executive at Apple and founder of Nest, said that even as the world faced the risks of climate change, money was flooding into less urgent developments in cryptocurrency, the so-called metaverse and the digital art collections sold as NFTs. Last year, venture capitalists invested $11.9 billion in renewable energy globally, compared with $30.1 billion in cryptocurrency and blockchain, according to PitchBook.

Of the $106 billion invested by venture capitalists in European start-ups last year, just 4 percent went into energy investments, according to PitchBook.

“We need to get real,” said Mr. Fadell, who now lives in Paris and has proposed ideas on energy policy to the French government. “Too many people are investing in the things that are not going to fix our existential problems. They are just investing in fast money.”

It has not helped that the industry has been burned before by a green tech boom. About 15 years ago, environmentally conscious start-ups were seen as the next big thing in Silicon Valley. One of the premier venture capital firms, Kleiner Perkins Caufield & Byers, made former Vice President Al Gore a partner and pledged that clean energy would eventually make up at least a third of its total investments.Instead, Kleiner became a cautionary tale about the risks of investing in energy-related companies as the firm missed out on early backing of social media companies like Facebook and Twitter.

There is evidence that these old fears are receding. Two years ago 360 Capital, a venture capital firm based in Paris and Milan dealing in early-stage investment, introduced a dedicated fund investing in clean energy and sustainability companies. The firm is now planning to open up the fund to more investors, expanding it to €150 million from a €30 million fund.

There are a growing number of dedicated funds for energy investments. But even then there is a tendency for the companies in them to be software developers, deemed less risky than builders of larger-scale energy projects. Four of the seven companies backed by 360 Capital’s new fund are artificial intelligence companies and software providers.

Still, the situation has changed completely since the company’s first major green-energy investment in 2008, Fausto Boni, the firm’s founder, said. “We see potentially lots of money coming into the sector, and so many of the issues we had 15 years ago are on their way to being overcome,” he said. But the availability of bigger investments needed to help companies expand in Europe still lags behind, he added.

Breakthrough Energy Catalyst, which is backed by Bill Gates, is trying to fill the gap. It was formed in late 2021 to help move promising technology from development to commercial use. In Europe, it is a $1 billion initiative with the European Commission and European Investment Bank to support four types of technologies — long-duration energy storage, clean hydrogen, sustainable aviation fuels and direct air capture of carbon dioxide — that it believes need to scale quickly.

In Europe, there are “significant difficulties with the scaling-up phase,” said Ann Mettler, the vice president for Europe at Breakthrough Energy and a former director general at the European Commission. There is money for start-ups, but when companies become reasonably successful and a bit larger, they are often acquired by American or Chinese companies, she said. This leaves fewer independent companies in Europe focused on the energy problems they set out to solve.

Companies that build complex — and often expensive — hardware, like Mr. Bitner’s batteries for long-duration energy storage, have an especially hard time finding investors willing to stomach the risks. After a few investment rounds, the companies are too big for early-stage investors but too small to appeal to institutional investors looking for safer places to park large amounts of cash.

“If you look at typical climate technologies, such as wind and solar and even the lithium-ion batteries, they took well over four decades to go from the early R&D to the large-scale commercialization and cost competitiveness,” Ms. Mettler said, referring to research and development. “Four decades — which obviously we don’t have.”

There are some signs of improvement, including more funds focused on clean energy or sustainability and more companies securing larger investment rounds. But there is a sense of frustration as investors, companies and European governments agree that innovation and adoption of new technology need to happen much more quickly to reduce carbon emissions sharply by 2030.

“You won’t find a place in the world that is more attuned to what is needed than Europe,” Ms. Mettler said. “It’s not for lack of ambition or vision — it’s difficult.”

But investors say government policy can help them more. Despite climate pledges, the regulations and laws in place haven’t created strong enough incentives for investments in new technologies.

Industries like steel and concrete have to be forced to adopt greener methods of production, Mr. Boni, the 360 Capital founder, said.

For energy storage, hydrogen, nuclear power and other large-scale projects, the government should expedite permitting, cut taxes and provide matching funds, said Mr. Fadell, who has put his personal fortune into Future Shape, which backs start-ups addressing societal challenges.

“There are few investors willing to go all in to put up $200 million or $300 million,” Mr. Fadell said. “We need to know the government is on our side.”

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Tesla seeks investor approval for stock split, article with image

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March 28 (Reuters) – Tesla Inc (TSLA.O) will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said on Monday, sending its shares up about 5%.

The plan came as the company suspended its Shanghai factory amid COVID-19-related lockdown measures and its artificial intelligence head took a sabbatical as the company aims to achieve full self-driving capability this year.

The proposal, first announced on Twitter, has been approved by its board and shareholders will vote on it at an annual meeting. The stock split, if approved, would be the latest after a five-for-one split in August 2020 that made Tesla shares cheaper for its employees and investors.

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Following a pandemic-induced rally in the technology shares, Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O), too, have in the recent past split their shares to make them more affordable.

Tesla shares soar after stock split in 2020 Tesla shares soar after stock split in 2020

Since the stock split in 2020, they have surged 128%, boosting the company’s market capitalization above $1 trillion and making it the biggest U.S. automaker by that measure.

“This (stock split) could further fuel the bubble in Tesla’s stock that has been brewing over the past two years,” said David Trainer, chief executive of investment research firm New Constructs.

Tesla has delivered nearly a million electric cars annually, while ramping up production by setting up new factories in Austin and Berlin amid COVID-19-related disruptions and increasing competition.

Tesla on Monday notified its suppliers and workers that its Shanghai factory in China will be closed for four days as the financial hub said it would lock down in two stages to carry out mass COVID-19 testing. read more

Tesla Chief Executive Officer Elon Musk said on Monday that he had “supposedly” tested positive for COVID-19, a few days after he attended a car delivery event at the company’s new Berlin factory.

“We think Berlin ramping, and both the MiniCar and India are on the horizon, we would agree with the timing,” Roth Capital analyst Craig Irwin said, hinting that companies usually execute stock splits when good news is ahead.

AI CHIEF

Musk also said on Sunday Tesla’s artificial intelligence chief Andrej Karpathy was on a fourth-month sabbatical, at a critical time that Musk wants to achieve full self-driving capability and roll out a humanoid robot prototype this year.

“Especially excited to get focused time to re-sharpen my technical edge and train some neural nets!” Karparthy tweeted.

“Though I already miss all the robots and GPU/Dojo clusters and looking forward to having them at my fingertips again,” he said, referring to Tesla’s AI chip Dojo.

Musk said in a podcast interview in January that Karpathy played an important role, adding: “People will give me too much credit and they’ll give Andrej too much credit.”

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Reporting by Nivedita Balu and Akash Sriram in Bengaluru and Hyunjoo Jin in San Francisco; Editing by Maju Samuel, Arun Koyyur and Bernadette Baum

Our Standards: The Thomson Reuters Trust Principles.

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Midwest Bank Partners With Lendsmart to Streamline the Entire Homebuying Journey

NEW YORK–(BUSINESS WIRE)–Midwest Bank, a locally-owned community bank, providing loans, mortgages, financial planning and investment services throughout central Illinois, has selected Lendsmart, an AI-driven digital lending platform, to improve its digital lending and home buying operations.

With Lendsmart’s technology, Midwest Bank will own its customer journey end to end, helping borrowers acquire a loan and offering ancillary services to allow the borrower to move into a home in record time. At the same time, improving accuracy, minimizing lender risk, and reducing origination and operational costs.

Since its establishment in 1870, Midwest Bank has been committed to its customers and the communities it serves. The bank strives to offer innovative products and services and cutting-edge technology to its valued customers.

“Our business was built on the relationships we have with our customers, and partnering with Lendsmart will allow us to offer them a superior experience when it comes to applying for a loan or moving into a new home,” said Chris Gavin, President & CEO at Midwest Bank. “We’re looking forward to evolving our digital lending and mortgage capabilities with Lendsmart’s support.”

Lendsmart digitizes up to 70% of the lending and home buying processes, leveraging AI to autocomplete elements of the mortgage applications and validate data in real-time. As a result, providing instant approvals and helping customers acquire a loan in a matter of weeks. The platform brings all parties involved together to unify the process every step of the way.

“We’re pleased that Midwest Bank has selected Lendsmart as a digital lending and homebuying solution,” said AK Patel, Founder and CEO of Lendsmart. “With our technology, we’ll be able to help Midwest Bank significantly reduce loan origination processing time to close more loans and improve the borrower experience.”

About Lendsmart

Lendsmart, founded in 2018, is an AI-driven digital lending platform that automates and digitizes lending and homebuying operations to create a single, automated conversational experience for banks, credit unions, and non-bank lenders. Using artificial intelligence to digitize up to 70% of the lending and home buying processes, Lendsmart allows borrowers to get a loan, refinance, or purchase a home in record time. For more information, visit www.lendsmart.ai.

About Midwest Bank

Midwest Bank, headquartered in Monmouth, Illinois is a locally-owned, community bank, providing loans, mortgages, financial planning and investment services throughout several locations across central Illinois. Midwest Bank believes in making the communities that serve a better place to live and work. The bank strives to have a positive impact through community involvement both financially and philanthropically. For more information, visit www.mbwi.com.

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SoftBank’s Woes Are Mounting

For the past decade, SoftBank and its founder, Masayoshi Son, grabbed headlines mainly for the Japanese conglomerate’s eye-popping investments, becoming a fixture in the American technology scene by spending freely on start-ups and fundamentally reshaping how such companies had been funded.

There was the world’s largest tech investment fund. The billions of dollars pumped into WeWork, the co-working giant. And Mr. Son’s splashy purchase of one of Silicon Valley’s priciest homes.

Now, the bad news is piling up.

This week, SoftBank’s planned $40 billion sale of Arm, a chip designer, to Nvidia, the Silicon Valley chip maker, fell apart because of regulatory setbacks. Shares in a handful of big tech companies that SoftBank owns stakes in, from the Chinese internet giant Alibaba to DoorDash, the food delivery service, have plunged in recent months amid a wider sell-off in high-growth tech stocks. And one of Mr. Son’s key deputies, Marcelo Claure, left the firm in January after a bitter pay dispute — the latest senior executive to depart the firm in the past year.

The slump in SoftBank’s fortunes was reflected in its latest earnings report. The firm said that its quarterly earnings fell 97 percent from a year ago, although it managed to eke out a small profit of $251 million during the three months that ended on Dec. 31. SoftBank’s shares, which trade publicly in Tokyo, stayed relatively flat this week, although they are already down by more than half in the past 12 months, as investors grow increasingly wary of SoftBank’s big bets that haven’t paid off.

he purchased an estate in Woodside, Calif., for $117 million — one of Silicon Valley’s most expensive homes. He then bought a majority stake in the mobile carrier Sprint in 2013 for roughly $22 billion, installing Mr. Claure as chief executive the next year. Sprint later merged with T-Mobile.

that country’s crackdown on its tech giants. SoftBank owns stakes in both companies, which trade on U.S. exchanges although Didi plans to move its listing to Hong Kong. While SoftBank invested far below the initial public offering price of DoorDash, the online food ordering company — one of the best performing stocks in 2021 — is now trading around its I.P.O. price.

The share price of SoftBank’s biggest holding, Alibaba, has dropped by about 60 percent from its October 2020 high. SoftBank put more than $10 billion into WeWork, which went public last year and is now trading at less than $6 billion. And after the Arm deal with Nvidia collapsed, SoftBank plans to take the chip design company public instead.

“Even if they’re going through this pain at the moment, they’re still actually in the black,” Mr. Ferragu said of the firm’s latest results.

SoftBank has seen its share of internal turmoil, too. In recent months, at least four senior investors have left or announced plans to leave.

Last month, SoftBank also lost Mr. Claure, one of its most high-profile executives, following an acrimonious compensation battle. Mr. Claure, once a key deputy and close confidante of Mr. Son’s, had argued that his boss had promised to pay him $2 billion over several years for his current and future work.

Twitter post: “People don’t leave their jobs or their companies. They leave their bosses. Treat the people who work for you right.”

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