Connected newsletter: Revolut goes after business users as investors flee from Intel

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EDITOR'S NOTE

Most of us may not give a whole lot of thought to the vast network of subsea internet cables that keep us online, but without it we’d be lost.

Thankfully, as my colleague Daniel Murray revealed earlier this week, the state is paying attention amid a warning that demand for data flows serving international markets could grow as much as 48 times by 2030. Ireland currently has 14 internet subsea cables but the government is giving thought to whether more will be required.

Talking of data, the European Commission has issued a formal reprimand to the government for its non-compliance with newly implemented regulations

Poor old Intel. It’s hard not to be concerned for the chipmaker, which has taken a pummelling from investors this week after announcing plans to cut 15,000 jobs and suspend dividends as it forecast a weaker third quarter.

As we revealed at the weekend, the company has confirmed that its decision to accelerate the shift of its manufacturing operations to Ireland was central to a slump in its quarterly profit margins.

In my analysis, I suggested that recent plans announced by Intel may not be enough to help it bounce back.

A US judge on Monday ruled that Google illegally monopolised the search market through exclusive deals. This marks the first major win for the US government in a major antitrust case against a tech giant in over two decades.

Temu, the US-based Chinese goods platform, declared revenues of $758 million (€694.63 million) at an Irish subsidiary in its first 17 months of operation, new filings show.

Congratulations to CroíValve, a Dublin-based medtech company, which has just closed a $16 million (€14.6 million) Series B funding round.

CalypsoAI, a highly-regarded artificial intelligence security solutions start-up, has appointed Irishman Donnchadh Casey as its chief executive.

Having already cornered the retail space, Revolut is now “on the cusp of cracking corporate banking market”, according to James Gibson, the general manager of its business division.

In our weekly update, we are giving you the lowdown on the best tech jobs currently available locally. If you want to be included, then email [email protected]

Our inaugural Top 100 ranking of the most important people in Irish tech went down a storm. If you haven’t taken a look at who made the cut feel free to do so now.