Tech

The surprising announcement by Prof. Amnon Shashua regarding his intention to step down as CEO of Mobileye caught the market off guard. The company is initiating a search for a successor with strong commercialization skills, and Shashua suggests the next leader may not necessarily be Israeli.

Memory prices are soaring, demand for HBM is breaking records, and manufacturers are fighting for every engineer: the Chinese founder who is giving up about 40% of his wealth to close the gap with Samsung and SK Hynix.

The robotics startup Enigma, founded about ten months ago by 8200 alumni Yonatan Yakobi (CEO) and Gal Niv (CTO), both 26, has been revealed for the first time with a massive $71 million seed round. The company is developing foundation models and software for Physical AI that will allow robots to operate in human environments, and is launching a public real-time remote control experiment.

Israeli startup Enigma has raised $71 million in a seed round. The company is developing foundation models for 'Physical AI,' creating a unified software layer to control robots.

The Israeli cybersecurity company Cato Networks reported that its annual recurring revenue reached more than $415 million, after 42% growth over the year. In just about five months, the company added more than $60 million to ARR — a figure that, according to sources, strengthens estimates that it is approaching maturity ahead of an IPO on Wall Street.

The fundraising, more than double the company's market value on the eve of the announcement, is expected to fund its operations until 2030. Among the Israeli connections: cooperation with Opko and a holding by Canada Israel Hotels.

Alon Gonen, one of the founders of Plus500, is launching deFounder, a project where entrepreneurs compete for investments of up to one million shekels. The first episode features innovative job search platforms.

Cyber company Way Security has raised $20 million in a seed round led by Insight Partners and Glilot Capital. The company is developing an AI-based platform for operating identity and access management systems in organizations.

Israeli startup Way Security has raised $20 million in a Seed round. The company is developing technology that allows for the integration of Identity and Access Management (IAM) solutions with any system without changing a single line of code.

High demand for AI chips has crowned another winner. Shares of Chinese chipmaker CXMT surged nearly 500% on their first day of trading in Shanghai, reaching a market valuation of $539 billion.

Monday laid off hundreds of employees despite excellent performance, as AI tools reduce the need for users and hurt the SaaS model (annual payment per user). A similar phenomenon has already affected Salesforce, Wix, and Adobe. Venture capital investors explain the profile of the companies being hit, who else might be affected, and what mistakes to avoid.

Anthropic, developer of the Claude AI model, is preparing for an IPO and is considering restricting employees' ability to sell shares, including price and timing limitations, amid market volatility for AI companies.

Israeli company Papaya has announced a layoff of 30 employees, representing 7.5% of its workforce. Management attributes the move to operational optimization through the integration of AI.

The leadership change at Mobileye following Amnon Shashua's departure raises questions about the future of Menti Robotics. Analysts are debating whether the company will divest this high-risk asset to boost profitability.

The cyber unicorn Upwind, which develops a platform for cloud infrastructure security, is appointing Omer Grossman as Chief Business Officer. Grossman brings extensive experience in cyber defense, having previously commanded the IDF's Mamram unit.

The program aims to support young high-tech companies whose funds have been eroded by the strengthening of the shekel. Eligible firms can receive grants of up to 1 million shekels. Applications open on Sunday, July 26.

The Israel Innovation Authority is launching a one-billion-shekel fast-track program to help young tech companies extend their operational runway by six months, mitigating the impact of the dollar's devaluation against the shekel.

Professor Amnon Shashua's announcement of his intention to step down as CEO of Mobileye marks a new chapter for the company. After 25 years at the helm, the founder has concluded that the firm requires a different management approach.

Samsung Electronics has signed an agreement with Broadcom to expand cooperation in memory chips, contract manufacturing (Foundry), and advanced packaging. The deal is expected to reach $200 billion by 2030.

The chip start-up Hailo, once considered a great promise and backed by investors like Idan Ofer, Gil Agmon, and Rakefet Russak-Aminoach, has been sold to Microchip. Globes revealed two weeks ago that the company would be sold for a pittance after carrying out aggressive layoffs.

American defense tech firm Anduril is negotiating a new funding round that could push its market valuation to approximately $100 billion. This would place the company on par with industry giants like Lockheed Martin.

While software companies are cutting back, the hardware industry is experiencing growth thanks to the AI revolution. With stocks soaring and record demand for engineers, giants like Nvidia and Applied Materials are hiring vigorously. "More than 1,000 employees have started working with us in the last year, and we have more than 450 open positions," says Yael Aviram-Rosenfeld, recruitment director...