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By Steven Scheer JERUSALEM (Reuters) -Israeli high-tech companies raised $11.9 billion over the first three quarters of 2025 as the technology sector continues to thrive despite Israel's two-year-old war against Hamas militants in Gaza. Funding was 13% higher than in January to September 2024, the nonprofit Startup Nation Central said on Tuesday. It noted that the volume of funding, which was led by cybersecurity firms, rose despite a 22% decline in the number of deals to 569. At the same time, mergers and acquisitions reached a record $71 billion so far in 2025, nearly five times higher than the same period in 2024, and largely driven by Alphabet's $32 billion acquisition of cyber firm Wiz and Palo Alto Networks' $25 billion purchase of CyberArk. The tech sector is a driver of Israel's economy, accounting for about 20% of GDP, 15% of jobs and more than 50% of exports. In the third quarter, Israeli tech firms raised $2.4 billion, up 9% from the same period in 2024 but down 50% from the second quarter. The number of deals contracted to 141, down 24% from the second quarter and 38% year over year. M&A in the quarter reached nearly $32 billion due to the Palo Alto-CyberArk deal. "The third quarter of 2025 highlighted a market in transition. While funding slowed and investors became more selective, M&A activity reached historic highs," said Avi Hasson, CEO of Startup Nation Central. "We are seeing fewer rounds, but at record sizes, signaling confidence in scale-ready companies. At the same time, global buyers are making some of the boldest bets we’ve ever seen on Israeli tech, especially in cybersecurity."  (Reporting by Steven Scheer; Editing by Kevin Liffey)

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Vienna (dpa) – Doctors and nurses perform better overall at emergency department triage than artificial intelligence (AI), which displayed lower "overall accuracy” in a series of hospital tests. According to researchers speaking at the European Emergency Medicine Congress in Vienna, AI gave accurate responses to triage-related questions and scenarios about half the time, while nurses achieved around 65% and doctors over 70%. At a time when AI grows increasingly capable, the findings run counter to indications that many human skills could in future be rivalled by software. In tests carried out at the emergency department of Vilnius University Hospital, the doctors and nurses were asked to use the Manchester Triage System to classify patients from case studies in one of five categories from most to least urgent. "Sensitivity – how well it identified true urgent cases – for AI was also lower at 58.3% compared to nurses, who scored 73.8%, and doctors, who scored 83.0%," said Renata Jukneviciene of Vilnius University. The same cases were analysed by ChatGPT, which, although falling short of nurses and doctors overall, did outperform nurses in the first triage category — the most urgent or potentially life-threatening cases presented in an emergency ward. "We conducted this study to address the growing issue of overcrowding in the emergency department and the escalating workload of nurses," Jukneviciene explained. "Given the rapid development of AI tools like ChatGPT, we aimed to explore whether AI could support triage decision-making, improve efficiency and reduce the burden on staff in emergency settings," she added. While AI "has potential" for use in hospitals, according to Barbra Backus, an Amsterdam-based emergency doctor, it comes with "limitations."  "This study shows very clearly that it cannot replace trained medical staff for triaging patients coming in to emergency departments," said Backus, who chairs the conference's abstract selection committee. The following information is not intended for publication dpa spr coh

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LONDON (Reuters) -Britain's competition regulator has recommended replacing a legacy EU-era exemption for technology licensing agreements with a UK-specific framework, in a move aimed at modernising post-Brexit competition rules. The Competition and Markets Authority said on Tuesday it had advised the government to scrap the Assimilated Technology Transfer Block Exemption Regulation (TTBER), which is due to expire in April next year, and replace it with a new 12-year UK exemption order. The TTBER allows companies to share and license technology, such as patents or software, under certain conditions without breaching competition law. "Technology transfer agreements can often be pro-competitive and can benefit innovation, investment and growth… but certain clauses within such agreements can also have negative effects on competition," the CMA said in its final recommendation to business and trade minister Peter Kyle. Britain retained the TTBER after leaving the European Union, but it was under review as part of the government's efforts to tailor its regulatory regime to boost economic growth. Nokia, patent firm Sisvel International and independent licensing marketplace Avanci were among companies who responded to the CMA's consultation. The CMA said the proposed changes would give businesses greater clarity and flexibility, while ensuring that licensing deals do not harm competition. The watchdog wants to remove outdated references to "utility models" and include newer rights such as database copyrights. Under the proposed framework, agreements could qualify for exemption either by meeting existing market share thresholds or by demonstrating the presence of at least three competing technologies. (Reporting by Sam Tabahriti; editing by Sarah Young)

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(Reuters) -CoreWeave said it has signed a $14 billion agreement with Meta to supply computing power, the latest multi-billion dollar deal as businesses ramp up infrastructure to meet the demand for artificial intelligence applications. Shares of CoreWeave surged 10% in premarket trading following the news on Tuesday. As a part of the agreement, CoreWeave will provide the Facebook-parent access to Nvidia's latest GB300 systems, according to a Bloomberg report, citing an interview with the data center operator's CEO Michael Intrator. The new deal comes a week after CoreWeave signed a third multi-billion dollar cloud expansion with OpenAI to aid the ChatGPT maker with its computational needs while executives note sky-high demand from clients. Meta did not immediately respond to Reuters' request for comment. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Leroy Leo)

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By Stephen Nellis SAN FRANCISCO (Reuters) -Cerebras Systems, a Silicon Valley startup aiming to take on Nvidia by producing a dinner-plate-sized AI computing chip, on Tuesday said it raised $1.1 billion and added 1789 Capital, the venture firm where Donald Trump Jr. is a partner, as an investor. Cerebras said the funding round, which was led by Fidelity Management & Research Co and Atreides Management, brings the company's valuation to $8.1 billion. The deal added investors Tiger Global, Valor Equity Partners and 1789 Capital, the fund where President Donald Trump's son is a partner. Cerebras CEO Andrew Feldman told Reuters in an interview that 1789's involvement was led by Paul Abrahimzadeh, an investment banker and veteran of Citigroup, which Cerebras had previously tapped to lead an initial public offering. "They're putting a lot of money to work. And it was somebody we knew," Feldman said . Cerebras last year filed for an initial public offering on Nasdaq. The offering was delayed by U.S. national security review of a $335 million investment by G42, an Abu Dhabi-based cloud computing and AI company. Cerebras said in March that the investment by G42, which in 2023 signed a deal to source supercomputers from the startup, had received clearance from the Trump administration. Feldman said the company still plans to hold a public offering.  "It is very common in your path to an IPO to gather some additional capital very late in the game from world-class institutional investors," Feldman said.  The computers Cerebras built for G42 have so far been in the United States. Last year, the company announced an agreement to supply computers to Aramco, the Saudi oil giant. Middle East deals will require export licenses from the Trump administration. "We hold the license for the delivery of some equipment, and we're seeking the license for the ability to ship more equipment," Feldman said. Citigroup and Barclays Capital acted as joint placement agents for the transaction, and existing investors Altimeter, Alphawave and Benchmark joined the round, Cerebras said. (Reporting by Stephen Nellis in San Francisco; Editing by Cynthia Osterman)

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By Jaspreet Singh and Supantha Mukherjee (Reuters) -Spotify founder-CEO Daniel Ek will step down to become executive chairman in January, the Swedish streaming company said on Tuesday as it adopts a new co-CEO structure in its strategy to fend off rivals and shore up its profit margin. Billionaire Ek, who built Spotify into a rare global consumer technology leader from the region, will step back from day-to-day business as the company charts out its plan to keep ahead of music offering from YouTube, Apple and Amazon. "Ek leaves the CEO role on a high note, with big boots to fill for the incoming CEOs," said PP Foresight analyst Paolo Pescatore. The U.S. shares of Spotify were down about 5% after gaining 63% this year. Ek, a prominent tech entrepreneur of Europe, will focus on capital allocation and long-term strategy as executive chairman in what the company called a European-style role. "I will be more involved than a typical US chairman. So think of it a little bit like moving from a player to a coach," said Ek, who has been on the company's board since 2008. Spotify remains the clear market leader with nearly 700 million monthly users and more than 100 million tracks, far ahead of Apple Music's roughly 90 million subscribers.  But it faces competition from YouTube Music's vast video-integrated catalog and Amazon Music's Prime-linked offerings, which give rivals distinct advantages in certain markets. Despite Spotify's dominance, pressure on profit margins have persisted as artists push for higher payouts and the ad-supported tier expands. Global revenue from recorded music rose 4.8% to $29.6 billion in 2024. Streaming exceeded $20 billion for the first time and subscription streaming accounted for more than half of it, according to IFPI's Global Music Report. FROM STARTUP TO GIANT Founded in 2006, Stockholm-based Spotify helped transform a music industry that had been shrinking for years due to piracy and falling CD sales. Its U.S. debut in 2011 came as industry revenue had slumped. Still, the company reported its first annual profit only in 2024, after a slew of price increases and cost-cutting efforts. Billionaire Ek is often cited as a champion of Europe's ability to produce companies that can compete with U.S. and Asian tech giants. Soderstrom, currently chief product and technology officer, oversees global tech strategy and product development, while Norstrom, as chief business officer, manages subscriber and advertising businesses along with music, podcast and audiobook operations.  They will report to Ek who also serves on the board. The three executives have worked together for a decade and a half. "Norstrom is deeply interested in knowledge about product, and I'm very interested in business," Soderstrom said. "So we run this as a single team. Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified. The co-CEO model, which has become popular, has also drawn skepticism for creating blurred lines of authority. "The big unknown is why Spotify needs an executive chairman and two chief executives as that conjures up the idea that too many cooks spoil the broth," said Dan Coatsworth, investment analyst at AJ Bell. (Reporting by Supantha Mukherjee in Stockholm and Jaspreet Singh and Akash Sriram in Bengaluru; Editing by Arun Koyyur)

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By Stephen Nellis SAN FRANCISCO (Reuters) -Cerebras Systems, a Silicon Valley startup aiming to take on Nvidia by producing a dinner-plate-sized AI computing chip, on Tuesday said it raised $1.1 billion and added 1789 Capital, the venture firm where Donald Trump Jr. is a partner, as an investor. Cerebras said the funding round, which was led by Fidelity Management & Research Co and Atreides Management, brings the company's valuation to $8.1 billion. The deal added investors Tiger Global, Valor Equity Partners and 1789 Capital, the fund where President Donald Trump's son is a partner. Cerebras CEO Andrew Feldman told Reuters in an interview that 1789's involvement was led by Paul Abrahimzadeh, an investment banker and veteran of Citigroup, which Cerebras had previously tapped to lead an initial public offering. "They're putting a lot of money to work. And it was somebody we knew," Feldman said . Cerebras last year filed for an initial public offering on Nasdaq. The offering was delayed by U.S. national security review of a $335 million investment by G42, an Abu Dhabi-based cloud computing and AI company. Cerebras said in March that the investment by G42, which in 2023 signed a deal to source supercomputers from the startup, had received clearance from the Trump administration. Feldman said the company still plans to hold a public offering.  "It is very common in your path to an IPO to gather some additional capital very late in the game from world-class institutional investors," Feldman said.  The computers Cerebras built for G42 have so far been in the United States. Last year, the company announced an agreement to supply computers to Aramco, the Saudi oil giant. Middle East deals will require export licenses from the Trump administration. "We hold the license for the delivery of some equipment, and we're seeking the license for the ability to ship more equipment," Feldman said. Citigroup and Barclays Capital acted as joint placement agents for the transaction, and existing investors Altimeter, Alphawave and Benchmark joined the round, Cerebras said. (Reporting by Stephen Nellis in San Francisco; Editing by Cynthia Osterman)

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By Zaheer Kachwala (Reuters) -CoreWeave said it has signed a $14 billion agreement with Meta to supply computing power, the latest multi-billion-dollar deal as businesses ramp up infrastructure to meet the demand for artificial intelligence applications. Shares of CoreWeave surged 15% following the news on Tuesday. Under the agreement, Meta has committed to pay around $14.2 billion through December 14, 2031, with the option to expand through 2032 for additional cloud computing capacity, CoreWeave said in a filing. AI technology developers are rushing to sign multi-billion-dollar deals to lock in infrastructure quickly, boosting valuations of backend service providers such as CoreWeave, which was valued at $60 billion as of last close. The boom has also raised questions about "circular" financing, as many AI tech firms invest in and sign supply deals with each other. This has also sparked worries about whether the surge in valuation is a bubble. "Nvidia's chips are in CoreWeave's data centers, which will then be used by companies like Meta. These kinds of deals spark bubble concerns because of how insular the industry appears, and the massive dollar amounts involved," Emarketer analyst Jacob Bourne said. At the same time, the AI market is expanding beyond the Magnificent Seven, which reduces the risk of a sudden bubble burst, he added. The deal with Meta would also allow CoreWeave to fill data center capacity beyond its largest customer, Microsoft. Last week, the server provider signed a third multi-billion dollar cloud expansion deal with OpenAI. As a part of the agreement, CoreWeave will provide the Facebook-parent access to Nvidia's latest GB300 systems, according to a Bloomberg News report, citing an interview with the data center operator's CEO Michael Intrator. For Meta, the deal underscores its ambition to improve the technology that powers its consumer products such as the recently launched smart glasses with Ray Ban. The social media firm has invested tens of billions into data centers across the U.S. and is paying athlete-level salaries to hire top AI software engineers. The social media firm did not immediately respond to a Reuters request for comment. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Leroy Leo)

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(Reuters) -The owner of the University of Phoenix is targeting a valuation of up to $1.2 billion in its U.S. initial public offering, it said on Tuesday, setting the stage for its stock market return after more than eight years. Existing stockholders of Phoenix Education Partners are seeking up to $140.3 million by offering 4.25 million shares priced between $31 and $33 apiece. Private capital firm Apollo Global is selling 3.55 million shares, while investment firm Vistria Group is offloading 0.7 million shares. The IPO pickup has lately broadened out to private equity deals, with a steady stream of sponsor-backed companies hitting the new listings market in recent months. The University of Phoenix, founded in 1976 by John Sperling, provides post-secondary education services, mainly to working adults in the U.S. The Phoenix, Arizona-based university currently offers 72 degree-granting and 33 non-degree certificate programs across disciplines. DROPPED SALE Phoenix Education's predecessor, Apollo Education Group, was taken private in 2017 in a $1.1 billion deal by a consortium including Vistria and Apollo. The university, under Apollo and Vistria's stewardship, exited non-core programs and divested some operations, including several international schools that it shared administrative resources with. In 2023, a non-profit affiliated with the University of Idaho agreed to acquire the operations of the University of Phoenix for $550 million. But the parties walked away from the deal earlier this year. Apollo will continue to control a majority of Phoenix Education's voting power after the offering. Morgan Stanley, Goldman Sachs, BMO Capital Markets, and Jefferies are the lead underwriters for the offering. Phoenix Education will list on the New York Stock Exchange under the symbol "PXED". (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Anil D'Silva and Shailesh Kuber)

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By Jaspreet Singh and Supantha Mukherjee (Reuters) -Spotify founder-CEO Daniel Ek will step down to become executive chairman in January, the Swedish streaming company said on Tuesday as it named longtime executives Gustav Soderstrom and Alex Norstrom as co-CEOs. The leadership change comes as Spotify expands into podcasts and audiobooks amid questions over how it will balance growth and profitability. Its shares slipped about 2.5% in premarket trading after gaining 63% this year. As executive chairman, Ek will focus on capital allocation and long-term strategy in what the company called a European-style chairman role. He is one of Europe's most prominent tech entrepreneurs, having built Spotify into a rare global consumer technology leader from the region.  The billionaire said he will continue to steer the company's strategy. "I will be more involved than a typical US chairman. So think of it a little bit like moving from a player to a coach," said Ek, who has been on the company's board since 2008. Spotify remains the clear market leader with nearly 700 million monthly users and more than 100 million tracks, far ahead of Apple Music's roughly 90 million subscribers.  But it faces competition from YouTube Music's vast video-integrated catalog and Amazon Music's Prime-linked offerings, which give rivals distinct advantages in certain markets. Despite Spotify's dominance, pressure on profit margins have persisted as artists push for higher payouts and the ad-supported tier expands. "Naturally, there will be some disruption given the change and the significant achievements under Ek's stewardship, which have been remarkable," said PP Foresight analyst Paolo Pescatore. Global revenue from recorded music rose 4.8% to $29.6 billion in 2024. Streaming exceeded $20 billion for the first time and subscription streaming accounted for more than half of it, according to IFPI's Global Music Report. FROM STARTUP TO GIANT Founded in 2006, Stockholm-based Spotify helped transform a music industry that had been shrinking for years due to piracy and falling CD sales. Its U.S. debut in 2011 came as industry revenue had slumped. Still, the company reported its first annual profit only in 2024, after a slew of price increases and cost-cutting efforts. Billionaire Ek is often cited as a champion of Europe's ability to produce companies that can compete with U.S. and Asian tech giants. Soderstrom, currently chief product and technology officer, oversees global tech strategy and product development, while Norstrom, as chief business officer, manages subscriber and advertising businesses along with music, podcast and audiobook operations.  They will report to Ek who also serves on the board. The three executives have worked together for a decade and a half. "Norstrom is deeply interested in knowledge about product, and I'm very interested in business," Soderstrom said. "So we run this as a single team. Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified. (Reporting by Jaspreet Singh and Akash Sriram in Bengaluru and Supantha Mukherjee in Stockholm; Editing by Arun Koyyur)

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