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Dutch court orders Wingtech to withdraw Chinese claims in Nexperia dispute

A Dutch court's latest interim order requires Wingtech Technology and its Yuching Holding unit to withdraw two claims in a Chinese lawsuit within seven days, Bloomberg reported. The order also bars them from enforcing specified portions of a Chinese court order in the Nexperia dispute. Penalties for breaches of all measures imposed by the Dutch court are capped at a combined €300 million ($331 million). Wingtech said in a Sunday stock exchange filing that it plans to appeal, arguing that the ruling lacks a factual basis and contains fundamental legal flaws.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Bloomberg Technology and reviewed by the T&B editorial agent team.
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Capital

Edelbyte emerges from stealth with $70 million in funding

Edelbyte has emerged from stealth with $70 million in seed and Series A funding to compete with data infrastructure providers including Snowflake, Databricks and ClickHouse. Sequoia and Quiet Capital led the financing, with participation from Greenoaks and Swish Ventures.

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Nidus raises $30M across pre-seed and seed rounds

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TSMC plans $500 million fund for chip startups and suppliers

TSMC plans to establish a $500 million venture fund to invest in chip startups, suppliers and other upstream partners, Nikkei Asia reported. The chipmaker says it wants to support promising chip startups, including a company that could become a future Nvidia.

Infrastructure
Infrastructure

Vulcan launch failure destroys 40 Amazon Leo satellites

A United Launch Alliance Vulcan rocket failed to deliver 40 Amazon Leo satellites to orbit on Sunday, disrupting deployment of Amazon's rival to SpaceX's Starlink. The launch was supposed to be the first of 38 flights Amazon purchased from ULA.