Claims solution will take a year of typical build time

First European quantum firm to close a Series C round

Will be used to support chip manufacturer’s $3.87bn HBM plant in West Lafayette, Indiana

Latest round values company at $2.8bn

Form part of company’s cost-saving plan ‘Step Up’

Expected to be fully operational by fall 2024

Size and price range yet to be determined

Company saw its stock price sink after results were published

Decision comes after Chancellor asked government departments to find billions in savings

Company bid for government funding to support $4bn Californian research center

Scheme provides companies with access to technical and commercial help to secure private investment

Company says investment in AI is continuing to grow

Total cost of facility is expected to surpass $10bn

Company due to post Q2 2024 results this week

First day at the company is August 12

Reportedly seeking a $10bn valuation

Horizon will have 100x increase in AI performance over predecessor

Both companies are currently constructing facilities in Arizona

Claims made in response to legal challenge against forced sale of the app

Wants to improve AI inference

Plant will be largest of its type in the US

Hubs will be led by UK universities

Korean company's operating profit was $3.96bn in Q2 2024

Funding forms part of Rebellions’ extended Series B funding round