newsycanuse

Italy Gives €211 Million to Data Center Tech Firm 2D Photonics

Gives

Article content

(Bloomberg) — Italy awarded a €211 million ($249 million) grant to a company seeking to speed up processing at artificial intelligence data centers as part of a bid to support local startups.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.
  • Daily content from Financial Times, the world’s leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

REGISTER / SIGN IN TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account.
  • Share your thoughts and join the conversation in the comments.
  • Enjoy additional articles per month.
  • Get email updates from your favourite authors.

THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account
  • Share your thoughts and join the conversation in the comments
  • Enjoy additional articles per month
  • Get email updates from your favourite authors

Sign In or Create an Account

or

Article content

2D Photonics Group’s Camgraphic subsidiary will use the funds to develop graphene-based photonics technology, the company said in a statement on Wednesday. 2D Photonics also committed to build a pilot manufacturing plant near Milan, where it will seek to move graphene photonics from the research phase to actual production. The company didn’t provide further details on the conditions of the grant.

Article content

Article content

Article content

Silicon photonics uses light to transmit data and has the potential to be faster and more power-efficient than older copper-based connections in data centers. 2D Photonics is betting that incorporating graphene will improve energy efficiency and bandwidth, helping reduce the huge amount of electricity consumed when training AI.

Article content

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

Article content

Companies selling technology that can optimize data center performance are seeing surging demand from large US tech companies, which are spending hundreds of billions this year to build out infrastructure for AI. Lumentum Holdings Inc., which makes devices that enable high-speed data transmission, said last week that its order books are full through 2028. Lumentum and rival Coherent Corp. received $2 billion each in investment from Nvidia Corp. last month. 

Article content

“This investment goes straight to the heart of what’s limiting AI today,” 2D Photonics Chief Executive Officer Ben Jensen said. “Compute keeps getting faster, but data movement hasn’t kept pace. Graphene-based optical technology offers a way to move vastly more data using far less power.” 

Article content

The grant was cleared by the European Commission and is considered state aid, the company said. The Italian grant will be among the largest public investments in an Italian deep-tech startup, it said. 

Article content

2D Photonics investors include CDP Venture Capital, the NATO Innovation Fund, Join Capital, Sony Innovation Fund and Bosch Ventures.

Article content

Bloomberg News
Read More

Latest

rock-cut

8 UNESCO-listed rock-cut religious sites you should visit at least once

0
8 UNESCO-listed rock-cut religious sites you should visit at least once For centuries, communities have carved places of worship, monasteries, shrines and monumental sculptures into cliffs and hillsides. Today, these rock-... 1/8 Ajanta Caves, Maharashtra, India | A UNESCO World Heritage Site since 1983, the Ajanta Caves comprise 30 rock-cut Buddhist monuments dating from the
Cryptos

Top Cryptos Other Than Bitcoin and Ethereum Poised to Benefit From the CLARITY Act

0
The upcoming CLARITY Act is widely expected to reshape the U.S. crypto market by providing regulatory clarity for digital assets. While Bitcoin (BTC) and Ethereum (ETH) are likely to remain the primary institutional beneficiaries, several altcoins could also gain from increased institutional participation. From cryptos with active ETF ambitions to blockchain ecosystems powering tokenization and
After

ONDO Price Eyes $0.665 After Breakout and Major SBI Tokenization Deal

0
You are here: Home / Cryptocurrency News / ONDO Price Eyes $0.665 After Breakout and Major SBI Tokenization Deal Ondo Finance (ONDO) is gaining bullish momentum after confirming a breakout from its downtrend, with analysts watching for continued strength for the ONDO price. Meanwhile, its partnership with Japan’s SBI Group advances real-world asset tokenization and
Obligations

Payroll Tax Obligations for Small Businesses

0
As a small business owner, you face various payroll tax obligations that can impact your bottom line. Comprehending what constitutes payroll taxes, the responsibilities you have as an employer, and the deadlines for payments is fundamental. From FICA contributions to unemployment taxes, managing these requirements accurately is vital. Failure to comply could lead to penalties

Newsletter

Don't miss

rock-cut

8 UNESCO-listed rock-cut religious sites you should visit at least once

0
8 UNESCO-listed rock-cut religious sites you should visit at least once For centuries, communities have carved places of worship, monasteries, shrines and monumental sculptures into cliffs and hillsides. Today, these rock-... 1/8 Ajanta Caves, Maharashtra, India | A UNESCO World Heritage Site since 1983, the Ajanta Caves comprise 30 rock-cut Buddhist monuments dating from the
Cryptos

Top Cryptos Other Than Bitcoin and Ethereum Poised to Benefit From the CLARITY Act

0
The upcoming CLARITY Act is widely expected to reshape the U.S. crypto market by providing regulatory clarity for digital assets. While Bitcoin (BTC) and Ethereum (ETH) are likely to remain the primary institutional beneficiaries, several altcoins could also gain from increased institutional participation. From cryptos with active ETF ambitions to blockchain ecosystems powering tokenization and
After

ONDO Price Eyes $0.665 After Breakout and Major SBI Tokenization Deal

0
You are here: Home / Cryptocurrency News / ONDO Price Eyes $0.665 After Breakout and Major SBI Tokenization Deal Ondo Finance (ONDO) is gaining bullish momentum after confirming a breakout from its downtrend, with analysts watching for continued strength for the ONDO price. Meanwhile, its partnership with Japan’s SBI Group advances real-world asset tokenization and
Obligations

Payroll Tax Obligations for Small Businesses

0
As a small business owner, you face various payroll tax obligations that can impact your bottom line. Comprehending what constitutes payroll taxes, the responsibilities you have as an employer, and the deadlines for payments is fundamental. From FICA contributions to unemployment taxes, managing these requirements accurately is vital. Failure to comply could lead to penalties
proven

5 Proven Strategies for Ecommerce Customer Acquisition

0
If you’re looking to boost customer acquisition for your eCommerce business, you need a clear plan. Start by leveraging targeted paid ads to connect with users ready to buy. Don’t overlook SEO, as it enhances your organic visibility. Consider email marketing with segmented lists for more personalized outreach. Collaborate with influencers to reach niche audiences
newsycanusehttps://newsycanuse.com

Want Your Business to Be Seen Everywhere? Meet Tonia Ryan, Creator of Fix Your Search

Some people are good at their jobs. Then there is Tonia Ryan, who has turned “getting found online” into something close to magic. She is the creator of Fix Your Search, and if you have ever wondered why some businesses pop up everywhere while others seem invisible...
Read more

Grey Business processes $61 million as stablecoins dominate payments

Grey Business enables startups and SMEs to open US Dollar (USD) corporate accounts, send and receive international payments, convert currencies, and transact using stablecoins such as USDC and USDT...
Read more

Utah Marketers to Host Free Business Networking Event in Layton on June 24

The custom web design company is hosting free monthly networking events for Northern Utah business leaders, with the next event scheduled for June 24 from 4 to 6 p.m. Utah Marketers is hosting a free local business networking event on June 24 from 4 to 6 p.m. at the company’s Layton office. The event is
Read more