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Booz Allen triples venture capital fund
Booz Allen Hamilton, a Fortune 500 government contractor based in McLean, has tripled its venture capital commitment with the intent to invest in more defense tech companies. Booz Allen announced in 2022 its first commitment of $100 million to 17 companies, including Vienna-based Corsha and Rosslyn-based Shift5. The company’s first VC round focused on deep […]
Stocks rise on Wall Street as AI stocks turn higher again
US stocks rose Friday, with tech and AI shares lifting the S&P 500 and Nasdaq to weekly gains, even as investors weighed inflation, tariffs and slowing growth.
PayPal applies to form its own bank to expand small-business lending
PayPal is seeking a banking charter that would allow it to boost its lending business, offer savings accounts that can earn interest and make customers’ deposits eligible for federal insurance coverage, the payments company said Monday. PayPal has submitted applications to authorities in Utah and to the Federal Deposit Insurance Corporation to set up PayPal Bank, […]
OpenAI and Taiwan’s Foxconn to partner in AI hardware design and manufacturing in the US
OpenAI teams up with Foxconn to design and build AI data center equipment in the U.S., boosting American AI infrastructure and manufacturing capacity.
IT firm Qbase to lay off 60 remote employees
Qbase, a provider of decision-support technologies and IT professional services, plans to lay off 60 remote employees by year’s end.
Northern Virginia AI startups raise millions
This summer, investors poured money into Northern Virginia-based AI startups offering solutions for data centers, the military and bias in AI. In July, Emerald AI — incorporated in Washington, D.C., but with primary offices in Clarendon — launched with $24.5 million in seed funding, and Rosslyn-based Rune Technologies raised $24 million in a Series A […]
Amazon cloud computing outage disrupts major online services
A global Amazon Web Services outage disrupted major platforms including Snapchat, Fortnite, and Signal before service gradually recovered Monday morning.
Hawkeye 360 announces new CFO
HawkEye 360 announced Wednesday that it has promoted the company’s chief business officer, Craig Searle, to chief financial officer.
Ellucian announces new chief legal officer
Reston-based Ellucian has hired Lisa Gilley as chief legal officer, the higher education tech company announced Wednesday. She succeeds Jim Bennett, who is retiring after 35 years with Ellucian. Gilley will report directly to Ellucian President and CEO Laura Ipsen and will lead the company’s global legal function, supporting strategic initiatives for the company’s long-term […]
U.S., China reach framework deal on TikTok ownership
The U.S. and China reached a framework deal to shift TikTok to U.S. ownership, with Trump and Xi set to discuss final terms Friday.
Government Contractors | Technology 2025: RHYU, JAMES J.
Rhyu joined for-profit education tech company Stride in 2013 and has served as its CEO since 2021. Founded in 2000 as K12, Stride offers career-learning services for middle and high school curricula, programs for businesses and the military, and professional skills training in health care and technology for adult learners. Stride reported just over $2 […]
Government Contractors | Technology 2025: FERNANDEZ, RAUL
A Maryland native, Fernandez was named president and CEO of Fortune 500 IT services and consulting company DXC Technology in 2024 after serving as interim head. He succeeded former CEO Mike Salvino following three years of declining revenues. In May, the company’s board extended Fernandez’s contract through 2028. Headquartered in Ashburn, DXC has roughly 130,000 […]
