Volvo Car to Cut 3,000 Jobs to Become Leaner, Protect Profits
The move will affect around 3,000 positions, including 1,000 consultants, Volvo said Monday. The manufacturer employs around 43,800 people, more than half of them in Sweden.
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Stuttgart, Germany--(Newsfile Corp. - July 17, 2025) - a pioneer in photonic processing, today announced a 62 million Series A financing round to accelerate the commercialization of its energy-efficient photonic processors for artificial intelligence (AI) and high-performance computing (HPC). The round is co-led by Cherry Ventures, UVC Partners and with participation from additional deep tech investors, including L-Bank, Verve Ventures, Grazia Equity, EXF Alpha of Venionaire Capital, LEA Partners, Onsight Ventures, and TRUMPF. This investment ranks among Europe's most significant deep tech funding rounds, laying the foundation for a fundamental shift in how AI is computed. To view the full announcement, including downloadable images, bios, and more, click here. Click image above to view full announcement. About is a photonic deep-tech scale-up developing photonic processing solutions that compute natively with light and deliver a scalable alternative to transistor-based systems. Its Light Empowered Native Arithmetics (LENA) architecture delivers analog co-processing power optimised for complex computation and enabling energy-efficient performance for next-generation AI and HPC applications. operates its own Thin-Film Lithium Niobate (TFLN) chip pilot line in collaboration with IMS CHIPS and is currently shipping its Native Processing Servers to selected partners. was founded by Michael Förtsch in 2018 and is headquartered in Stuttgart, Germany. Contacts: Toni Sottak +1 843 530 4442 toni@ Edith Laga +49 157 830 407 51 Source: GmbH To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
