Recently, it was announced that Alibaba is going to invest $ 200 million in the Snapchat, a Los Angeles based start-up. This seems to be a great move for Snapchat. Based on the offer of Alibaba, Snapchat is valued at $ 15 billion. Currently, we can just speculate that how this is going to impact […]
A San Jose-based semiconductor startup being sued by Huawei for stealing trade secrets has hit back in court documents, accusing the Chinese firm’s deputy chairman of conspiring to steal its intellectual property, reports the Wall Street Journal. In court filings, CNEX Labs, which is backed by the investment arms of Dell and Microsoft, alleges that Eric Xu, who is also one of Huawei’s rotating CEOs, worked with other Huawei employees to steal its proprietary technology. The lawsuit, set for trial on June 3 in federal court in the Eastern District of Texas, started in 2017 when Huawei sued CNEX and one of its founders, Yiren “Ronnie” Huang, a former employee at Huawei’s Santa Clara office, for stealing its technology and using unlawful means to poach 14 other Huawei employees. CNEX filed a countersuit the following year. Huawei has denied the startup’s allegations in court filings. The lawsuit is happening at a fraught time for Huawei. Last week, the Chinese telecom equipment maker (and the world’s second-largest smartphone brand), was placed on a trade blacklist by the Trump administration, which also signed an executive order that would make it possible to block American companies from doing business with Huawei and other companies it deems a national security threat. As a result, several companies have suspended business with Huawei, including Google, Qualcomm, Intel and ARM. Court filings said that after being directed by Xu to analyze CNEX’s technical information, a Huawei engineer met with the startup’s officials in June 2016, pretending to be a potential customer. But then the engineer produced a report about CNEX’s tech and put it into a database of information about competitors run by Huawei’s chip development unit. CNEX’s lawyers also say that Xu knew about a partnership between Huawei and Xiamen University that was allegedly part of plan to steal the startup’s trade secrets. They claim Xiamen obtained a memory board from CNEX in 2017 under a licensing agreement, saying it would be used for academic research. But CNEX lawyer Eugene Mar said that “what was hidden from CNEX was that Xiamen was working with Huawei and had entered into an agreement separately with Huawei to provide them with all of their research test reports,” according to court transcripts viewed by the Wall Street Journal. Information from the university’s study was then allegedly used for Huawei chip projects, including one that is expected to be released this year. Huawei’s lawyers refuted CNEX’s charges, claiming that the partnership between Huawei and the university did not involve reverse engineering or CNEX’s trade secrets and was meant to design database software instead of developing chips. A Huawei lawyer said that Xu was part of “the chain of command that had requested” information about CNEX and that a CNEX document had been placed into its chip development unit’s database, but denied allegations that anything was stolen. CNEX co-founder Huang claimed in court filings that he offered to sell his intellectual property to Huawei when he started working at Futurewei, its research and development unit. Huawei refused his offer, but then later tried to get Huang to give them his IP under an employee agreement, which Huang refused to sign, he claims. Huang left Futurewei in 2013 and founded CNEX Labs soon after. ... Read More
Fintech startup Revolut is making vaults collaborative. You can now create a vault with someone else and use it like a normal vault. Originally, vaults were an alternative to savings accounts without any interest rate. You could create vault in any currency (including supported cryptocurrencies) and set some money aside. You can round up your expenses and add change to a vault, program regular transfers to your vault or add money whenever you feel like it. If vaults are like a Word document, group vaults are like a collaborative document in Google Docs. Multiple persons can now interact with a group vault just like a normal vault. This will be useful for couples who want a sort of joint account without opening a bank account, parents giving some money to their children, roommates creating a common pot to pay for group expenses, friends going on vacation, etc. Revolut users have created 1 million normal vaults so far. They currently hold the equivalent of $95 million (£75 million). In other news, Revolut mentioned a new app for younger customers —Revolut Youth. It's not available yet but the company is working on it. There are now 4.9 million registered users on Revolut. Every day, 12,000 people sign up. Every month, Revolut processes $5.5 billion in transaction volume. ... Read More
The Las Vegas Convention and Visitors Authority held a vote today, where it approved a $48.6 million contract with the Boring Company, Elon Musk’s tunneling venture. The Boring Company’s underground “people mover,” the LVCC Loop, will consist of two tunnels for vehicles and three stations, as well as a pedestrian tunnel. The project is expected to be complete in time to be used at the Consumer Electronics Show in January 2021, LVCVA told me in March. Then, Musk got on Twitter and suggested the project could be running by the end of the year. The public contract suggests that tests will start by November 2020. Regardless of the completion date, two-thirds of the money in the contract won’t be paid until the project is complete. Of the... Continue reading… ... Read More
The US Air Force hopes that the XQ58-A Valkyrie drone wingman might someday accompany the F-35 and a new version of the F-15 fighter jet, according to Defense News. The aircraft is designed to fill a role known as “loyal wingman” — imagined as a low-cost platform that would be controlled by a parent aircraft to accomplish a variety of tasks, such as flying ahead to scout out terrain, or absorb enemy fire in the event that they’re attacked. The Air Force is reportedly talking with defense manufacturers Boeing and Lockheed Martin, which manufactures the fighter jets, about integrating the platforms. Will Roper, the Assistant Secretary of the Air Force for Acquisition, Technology and Logistics, told Defense News that a forthcoming... Continue reading… ... Read More
Riot Scholastic Association of America to oversee high school and collegiate League of Legends competitions... Read More
After talks for a collaboration are abandoned, Valve will make a competing version of Dota Auto Chess "with Drodo's blessing"... Read More
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