Good morning! Here’s the tech news you need to know this Wednesday.
1.Intel has bought a two-year old machine learning startup called Nervana Systems, a move aimed at expanding its data centre business. Intel declined to share the financial details of the deal, but Recode reports it paid “at least $350 million (£268 million),” citing an anonymous source.
2. The US government is selling 2,700 bitcoin, valued at nearly $1.6 million (£1.2 million) based on current exchange rates. The seized bitcoins will be auctioned on August 22.
3. Facebook is taking a stand against ad blockers. The social network announced on Tuesday that it has tweaked its tech to prevent ad blocking software from working on its desktop site.
4. The future of a crucial source of UK startup money hangs in the balance following the nation’s decision to leave the European Union. That source is the relatively unknown European Investment Fund (EIF), which invested over €2.3 billion (£2 billion) in UK startups between 2011 and 2015.
5. Netflix has launched an app that shows you how fast your internet really is. Netflix’s pitch is that its tool is “ad free with a streamlined design that is quick and easy to understand.”
6. Startup factory Entrepreneur First has set up an investment team to help founders on its programme to raise money from the world’s most reputable investors. The company builder has produced several impressive startups over the last few years, including Magic Pony Technology which was acquired by Twitter for a reported $150 million (£115 million).
7. Google put the nail in Adobe Flash’s coffin. The company will “de-emphasise” Adobe Flash in its Chrome browser and by December, Adobe Flash will no longer be turned on by default in Chrome.
8. Researchers have found a highly sophisticated malware called “Sauron”. The five-year-old piece of malware has been secretly targeting governments, militaries, telecoms companies, and scientific research centres.
9. Russian hackers appear to have infiltrated up to 330,000 computer cash registers. The registers were sold by Oracle.
10. Job site Monster has been snapped up by Dutch recruiter Randstad Holdings for $429 million (£330.3 million). It works out to $3.40 (£2.60) per share.
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