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Revolut eyes Switzerland in continued global expansion

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The fintech announced a $182m investment in the country over the next five years.

Revolut has applied for a Swiss banking licence as part of its continued global expansion campaign. The UK fintech has established or is aiming to set up authorised banking entities across the globe, including in Colombia, the US, France, Peru, the UK, Australia and Mexico.

Revolut already has more than 1.3m customers in Switzerland, currently served by Revolut Bank UAB, which is licensed in Lithuania. Obtaining a Swiss banking licence would mean the fintech can offer its customers Swiss IBANs, salary accounts, e-bills, merchant acquiring and deposit protection under the country’s strict standards.

The company also announced plans to invest more than 150m Swiss francs ($182m) in Switzerland over the next five years to create local jobs and support product development. Revolut also intends to make a number of senior leadership appointments to further strengthen its local banking build-out.

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“Together with our existing banking licences and regulatory infrastructure across Europe, this would further strengthen our compliance, governance and regulatory framework,” said David Tirado, Revolut’s chief commercial officer.

Julian Biegmann, Revolut’s general manager for Switzerland, added: “Revolut is already Switzerland’s leading fintech. With our own banking licence, we would become a true Swiss bank, able to offer our more than 1.3m customers our leading Revolut banking product with a Swiss finish.”

Earlier this year, reports suggested that the fintech was on its way to a $200bn valuation in an eventual initial public offering expected around 2028. It was last valued at $75bn after a major share sale last November.

News of the company’s continued expansion comes just days after it disclosed a data breach that is understood to have affected nearly 700 customers globally, including 12 in Ireland.

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In a community alert last week, the company explained that it disclosed sensitive customer data to an unauthorised fraudulent party after receiving requests for information from an email with a government agency domain.

The company mistakenly fulfilled the data requests before realising that the sender was phishing for data, it said. The disclosed data included full names, dates of birth, occupations, addresses, contact details, passports, drivers’ licences, financial statements and facial verification images.

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What Does A Stator Do On A Motorcycle?

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Even when looking up must-know motorcycle maintenance tips, there’s often not much attention paid to the electrical components. Sure, you’re advised to check the battery, but even a pristine battery won’t stand a chance if your bike has electrical issues. That’s why it helps to know both what a stator is and what it does. In the most basic terms, it’s the part of the system that turns the engine’s movement into usable electrical power.

Located deep inside the engine, the stator uses the engine’s rotation to create an alternating current. From there, the rectifier or regulator turns the alternating current into the direct current needed to power the motorcycle. That direct electrical current (or DC) can serve several different purposes, including replenishing the battery while the engine runs, powering the lights and ignition system, and providing juice for the bike’s electronic accessories.

You might be wondering about the difference between an alternator and a stator. Generally speaking, cars and trucks use external, self-contained alternators, but most motorcycles divide this job between several components, including the stator, a rotating magnet assembly, a rectifier, and a regulator.

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How a stator generates electricity

The stator consists of wire coils positioned around a rotating magnetic component. The magnet moves as the engine turns, generating AC electricity in the coils, and the amount produced increases with engine speed. Rather than sending all that electricity straight to the motorcycle’s electrical components, however, the motorcycle’s charging system manages the output using the rectifier and regulator. There, the AC output is converted into DC power and regulated down to a suitable, consistent supply.

Stator designs aren’t universal because different motorcycles have different electrical needs. Depending on the motorcycle’s design, a stator can either produce electricity for the ignition alone or to supply power for the entire bike. Some motorcycles also incorporate a pickup coil, which can tell the motorcycle’s crank position and send that information to the ignition computer to determine spark timing. All these responsibilities are split up among the motorcycle’s ignition system, starting system, and charging system.

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OpenAI told investors in February its compute bill would be around $600bn. A July presentation puts it at $856bn.

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The Financial Times reported that OpenAI expects negative free cash flow of $278bn between 2026 and 2030, from a July presentation prepared for a computing deal. That figure is an improvement on the roughly $305bn the company projected in May, while the compute and infrastructure line has risen to about $856bn against the roughly $600bn target it gave investors publicly in February. Spending can rise while burn falls because much of the build is financed by partners rather than by OpenAI.

The Financial Times reported that OpenAI expects negative free cash flow of $278bn between 2026 and the end of 2030, citing a company presentation prepared in July for a computing deal. Samantha Oltman wrote up the figures for Bloomberg, which corrected its story shortly after publication.

The same materials put revenue at $350bn in 2030, against roughly $36bn this year, and compute and infrastructure at about $856bn across the period. Three numbers, and the smallest one is getting the headlines.

The burn figure is a downward revision

An earlier projection in May put negative free cash flow for the same period at roughly $305bn. The July version is $278bn.

So the number being reported as alarming is an improvement of about $27bn on OpenAI’s own previous estimate. That does not make it small, and it does make the framing odd.

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The compute number went the other way

In February the company publicly reset expectations. It told investors its compute target was around $600bn by 2030, a figure presented at the time as a moderation.

Five months later a private presentation carries $856bn. That is roughly 43% higher than the number given publicly in February.

One caveat belongs here. The February figure was described as compute and the July figure as computing power and infrastructure, so the categories may not be identical, and part of the gap could be definitional rather than real.

How both movements happen at once

Spending rises, burn falls. That combination is possible when the spending does not sit on your own balance sheet.

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OpenAI does not hold an investment-grade credit rating, which is why its financing runs through other people. Nvidia has been in talks to guarantee $250bn of data centre debt, letting lenders price against the chipmaker’s credit instead.

The pattern repeats across the build. Oracle is spending more on data centres than it earns in a quarter, much of it against OpenAI commitments, and the capital expenditure lands on Oracle’s accounts rather than OpenAI’s.

Leases do the same work

Structure matters as much as scale. SB Energy took $5.5bn in OpenAI warrants to sign a 20-year lease, which converts a capital commitment into an operating one and pays for it in equity rather than cash.

Free cash flow is a measure of money leaving a specific entity. It is not a measure of obligations created, and the two diverge sharply when a build is financed by vendors, landlords and partners.

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That is why $856bn of compute can coexist with $278bn of burn. The difference is being carried by somebody.

The financing conditions are not comfortable

The credit market has already shown where the strain is. Oracle needed PIMCO to anchor $10bn of a $16.3bn data centre financing after US banks stepped back.

When banks retreat from a name like Oracle, the terms available further down the chain are worse. The guarantees and warrants are not elegance, they are what the market required.

The number that should be interrogated

Revenue rising from about $36bn to $350bn by 2030 is close to a tenfold increase in four years. Every other figure in the presentation is downstream of it.

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The burn is not an independent forecast. It is what remains after the revenue assumption is subtracted from the spending assumption, so a revenue miss does not shave the burn, it compounds it.

Reporting the $278bn as the headline risk inverts the logic. The spending is largely contracted, and the revenue is the part that has to show up.

The clock is the other story

OpenAI raised $122bn in March at an $852bn valuation, and the FT reports it is on track to exhaust that by 2028. The projection period runs two years beyond the money.

That is the context for the listing timetable and for talks the FT describes as valuing the company at about $1.2 trillion. A company that needs capital before 2028 has a reason to be in the market before then.

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Plans do change

These are projections in a document prepared to win a computing deal, not audited accounts, and they have already been revised twice this year. OpenAI has also paused its Stargate site in the UK over energy costs and copyright rules.

Projects get delayed and targets get rewritten, which is an argument for treating any single figure with caution. It applies to $856bn as much as to $278bn.

What to watch

Watch whether the $856bn figure appears anywhere OpenAI can be held to it. A number in a deal presentation and a number in a listing prospectus carry different consequences.

Watch the guarantees. If partner balance sheets are carrying the difference between the spending and the burn, the exposure worth tracking is theirs.

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A Hotspot Becomes A Handheld

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A Linux handheld computer is, in theory, easy and inexpensive given the availability of single-board computers, but in practice the budget invariably edges well into three figures. There’s an interesting alternative from [bkovac] that won’t break the bank as much, using a cheap 4G wireless hotspot, an iPhone USB keyboard case accessory, and, though a cheaper display could suffice, a fancy Adafruit Sharp memory display.

The hotspot is available from AliExpress for around 20 dollars/Euros/pounds, and it’s referred to by its model number, MF800. It’s powered by a Qualcomm MSM8916, also known as the Snapdragon 410, which you might have found in a budget cellphone early in the last decade. Importantly, though, it’s supported by mainstream Linux, and while it’s by no means the fastest on the block, it can be a poor man’s alternative to a Raspberry Pi. It comes with a small SPI display, but this project replaces it with a much bigger Sharp SPI memory display.

The build walks through a few case mods and a PCB mod on the modem, getting the keyboard to fit, and making a custom power board. Perhaps the software setup is the most interesting part, because this isn’t a simple case of installing a distro. Instead, there’s quite a bit of hackery to get the display working.

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We really like this project because while a Linux handheld is nothing new, it’s making one using an unexpected starting point. It reminds us of the old days of running Linux on an old router.

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M6 Pro benchmark surfaces despite shorter generation claim

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An alleged benchmark for the M6 Pro has surfaced on Geekbench, calling into question earlier rumors about a shorter Apple Silicon generation that skips the Pro and Max variants altogether.

Before the introduction of the M6 Mac mini, the rumor mill was dead set on the idea that Apple will be shortening the M6 generation of Apple Silicon in favor of moving to M7 faster. After the launch, a benchmark result may have indicated that there will be more to the M6 generation than previously expected.

A Geekbench 7 score surfacing on Reddit for a “Mac18,6” dated September 18 2026 is claimed to run on an “Apple M6 Pro” with one processor and 18 cores. This is apparently split into two clusters of six cores and 12 cores, which may refer to “Super” performance core and efficiency core counts.

The listing adds there is a base frequency of 4.78GHz, which would correlate to the Super cores in use. The version tested also has 48 gigabytes of memory.

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A moderate improvement

If genuine, the posted results for the M6 Pro include a single-core score of 4,150 and a multi-core of 37,565.

The M6 Mac mini results that were leaked earlier have a similar single-core score of 4,071, which would be expected here. It would be a result based on the fastest available core.

Horizontal bar chart titled Geekbench Single-Core Benchmarks comparing three Macs, showing M6 Pro fastest, followed by M6 Mac mini, then M5 Pro 16-inch MacBook Pro with slightly lower score

The alleged M6 Pro single-core benchmark against the leaked M6 Mac mini and the M5 Pro

It is an improvement on the M5 Pro included in the 16-inch MacBook Pro, which scores 3,692.

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For multi-core, the number of cores matter for the result. That would explain how the M6 Pro figures are far higher than the 22,783 from the M6 Mac mini and its 12 CPU cores.

Multi-core benchmarks of the M6 Pro against the M6 and the M5 Pro

Multi-core benchmarks of the M6 Pro against the M6 and the M5 Pro

It is more in the ballpark of the M5 Pro, which also has 18 cores and has a slightly smaller 33,595 score. The generational difference here is expected due to the M6 Pro having better, faster cores.

More life than expected

Despite its plausibility, it’s entirely possible that someone faked the result and posted it to Geekbench. True or not, it’s something that will cause some observers to consider how Apple will be treating the rest of the M6’s lifespan.

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Reports in June and July, chiefly from Bloomberg’s Mark Gurman, insist that Apple will only run the M6 era for a mere six months. This is an ultra-short lifespan compared to other Apple Silicon generations.

Gurman also said that there won’t be an M6 Pro, M6 Max, nor M6 Ultra release in the generation.

Instead, Apple is supposedly planning to bring the M7 out in the first half of 2027, so that Macs can benefit from the AI-centric chip designs. In that generation, M7 Pro and M7 Max chips would come out later in the same year.

If true, the benchmark may be a precursor to the launch of other Mac models under the M6 generation. It may also be a sign that we have a bit of a longer wait before M7 comes along.

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BOSGAME E5 Mini PC Packs Dual 2.5G Ports and Triple 4K Screens Into a Sub $200 Desk Box

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BOSGAME E5 Mini PC Ryzen
BOSGAME E5 Mini PC, priced at $186.99 with promotion code: 5400U45 (was $340), keeps showing up in deal threads because a machine this small almost never arrives with two 2.5-gigabit Ethernet ports, three 4K outputs, and a licensed copy of Windows 11 Pro for less than $300. Inside is a 15 watt laptop processor, a Ryzen 3 5400U with 4 cores and 8 threads to get the work done.



The Ryzen 3 5400U can reach 4.0GHz and has an impressive 8MB of L3 cache, all owing to AMD’s Zen 3 design. In contrast, the Ryzen 3 5300U, utilized in other SKUs, has a maximum clock speed of 3.8GHz and 4MB of L3 cache on the slightly older Zen 2 configuration. What exactly do you get out of that? The E5 has a little more oomph than the Intel N150 and N100 boxes that are widely available in this price range, which is why reviewers continue to use it as an office PC, a light virtualization host, and for any quiet box job such as spreadsheets, browser tabs, and video calls.


BOSGAME E5 11 Pro Mini PC, AMD Ryzen 5400U 4C/ 8T, Business Home Office PC
  • 【AMD Ryzen 3 5300U CPU: Outperforms N150 & 3500U】 BOSGAME E5 mini PC is powered by the TSMC 7nm FinFET architecture AMD Ryzen 3 5300U processor…
  • 【8GB DDR4 RAM & 256GB NVMe SSD Storage】 Installed with high-speed 8GB DDR4 dual-channel memory and a fast 256GB M.2 2280 SSD, eliminating slow…
  • 【High-Capacity Dual M.2 SSD Storage Expansion】 Never worry about running out of space for your business files. In addition to the pre-installed…


However, memory and storage are where things become interesting. The 8GB base units can easily be upgraded with a matching SODIMM to achieve dual-channel speed. There are two slots for accomplishing this, each of which can support up to 32GB of DDR4-3200 RAM, which is important if you’re running virtual machines or a software firewall on the side. Storage amounts to 256GB out of the box, but you do get a second empty M.2 2280 socket, allowing you to swap out the factory SSD for a new NVMe drive (up to 4TB) without having to open the chassis. Even if you open the case, this 8GB/256GB machine can be transformed into a fine daily driver with a $30 memory upgrade and a larger SSD.


On the back, you’ll discover a couple of Realtek RTL8125 ports, which, believe it or not, are the reason this model is still suggested for home laboratories. Each port operates at 2.5Gbps, allowing you to connect one cable to the WAN and one to the LAN and run pfSense or OPNsense without a cumbersome USB adaptor. Want to run a small NAS or link-aggregate your network? Same ports, same story. However, the most important element here is wired speed. Wireless is kind of a compromise. According to the boxes, this device features Wi-Fi 5 and Bluetooth 5.0, which is fine; after all, you wouldn’t expect Wi-Fi 6 at this price.

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BOSGAME E5 Mini PC Ryzen
The graphics don’t skimp out. You get HDMI 2.0, DisplayPort, and a full-function USB-C port, so you can connect three 4K panels at 60Hz without a problem. The Vega 6 graphics can manage that load with ease, and it even decodes 4K video like nobody’s business. Want to play older games or imitate them? You can do this at 1080p with low settings.

BOSGAME E5 Mini PC Ryzen
The USB ports are quite mixed. You’ll find a front USB-C port as well as a handful of USB 3.2 Gen 2 Type-A ports, allowing you to connect disks and docks to the front panel. The rear panel also includes two USB 2.0 connections and a 3.5mm combo jack. To top it all off, the chassis measures approximately 130mm square and 46mm height, making it compact enough to hide behind your monitor even if you don’t already have a VESA plate.

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Apple Watch Series 12 and Ultra 4 weekend deals on Amazon

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Apple Watch Series 12 and Apple Watch Ultra 4 models are on sale this weekend, with Amazon rotating discounts across case options and band colors.

The new Apple Watch Series 12 starts at $399, but Amazon is knocking $10 off multiple styles this weekend.

Save up to $20 on new Apple Watch models

The steepest discount can be found on several Apple Watch Ultra 4 styles, though, which are $20 off. Both the Natural Titanium and Black Titanium Case options are eligible for the markdown, with qualifying band colors and sizes changing rapidly.

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Apple Watch Series 12 – 42mm

Apple Watch Series 12 – 46mm

Apple Watch Ultra 4 – 49mm

  • Black Titanium Case, Translucent Black Ocean Band, GPS + Cellular: $779.99 ($20 off)
  • Natural Titanium Case, Translucent Gray Ocean Band, GPS + Cellular: $779.99 ($20 off)
  • Black Titanium Case, Burgundy Alpine Loop Band in Large, GPS + Cellular: $779.99 ($20 off)
  • Natural Titanium Case with Sand Trail Loop Band in M/L, GPS + Cellular: $779.99 ($20 off)

You can also shop the latest deals in our Apple Watch Series 12 Price Guide and Apple Watch Ultra 4 Price Guide.

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Valve open-sources Lepton, its Android compatibility layer for the Steam Frame

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First look: Valve has open-sourced Lepton, the Android compatibility layer built for the Steam Frame headset, giving VR developers a way to bring existing Android games to the device without rebuilding them for an entirely different platform. The newly available code also offers a detailed look at how Valve tailors an Android environment for VR gaming on SteamOS, covering everything from graphics access to development and profiling tools.

The code is now available through Valve’s GitLab repository.

The release follows the Steam Frame’s launch and builds on Valve’s March announcement of Lepton alongside the Steam Frame Verified certification requirements.

In purpose, the project resembles Proton, Valve’s tool for running Windows games on SteamOS and Linux, though it takes a different technical route: rather than translating Windows software interfaces, Lepton provides a purpose-built, game-tuned Android environment.

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Valve has kept that environment deliberately narrow. Lepton isn’t designed to turn Steam Frame into a general-purpose Android device, nor does it aim to support every Android app. To keep overhead low, the software disables Android services that aren’t needed for gaming – a trade-off that can affect apps relying on those services.

Lepton is built to work closely with the SteamOS host system, mounting host libraries for graphics drivers, Steam and Steamworks, and Vulkan layers. Valve lists support for graphics stacks including Mesa and Zink, along with Vulkan tooling for foveated rendering and render-pass optimization.

Those capabilities are crucial for VR games, where rendering efficiency and stable frame delivery are central to comfort and image quality. By exposing the host graphics stack to the Android environment, Valve appears to be avoiding some of the overhead that can come with a more isolated container approach.

The project also ships with tools aimed at developers porting games to the platform, including support for debuggers such as strace, GDB, LLDB and RenderDoc, plus Perfetto for performance profiling. The flatscreen application window stays hidden by default, though developers can surface it for testing and troubleshooting.

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Valve says Lepton runs without root access or root-level setup tools, with every process inside a Lepton instance running as the same non-root user. Per the project’s documentation, there’s no enforced isolation between apps within an instance, so each app is expected to run in its own separate Android container.

For developers, the open-sourced code offers a clear window into Valve’s approach to Android game support on SteamOS, including its use of host graphics libraries, Vulkan layers and a reduced Android software stack. It also gives Linux developers a base for experimenting with other uses, though Valve cautioned that those are outside Lepton’s main purpose.

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Coreboot Hikes The Bay Trail To DRAM Initialization

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This article is written on an open-source operating system, but not an open-source machine — the BIOS isn’t open-source, and even if it were supported by the coreboot project (formerly LinuxBIOS), there would still be a whole host of binary blobs required to get it to boot. On one vintage architecture, there’s one less blob, as coreboot can now initialize DRAM on Intel Bay Trail SOCs, as [Mate Kukri] presented in a talk at the recent Open Source Firmware Conference.

Bay Trail isn’t exactly cutting-edge hardware, to be sure — the SoCs are over a decade old at this point, and were only used in low-performance mobile applications like Chromebooks. On the other hand, coreboot has been on Chromebooks for at least as long. Getting DRAM set up is difficult because, well, you don’t have any memory to work with until you do. Traditionally, the way you did that was to call on one of the many proprietary ‘binary blobs’ provided with next to no documentation by the manufacturer. Reverse engineering that requires some serious bus-sluthing, which was done in software with the SerialICE debugger and the Unicorn Engine CPU emulator. The talk focused on that technique and how it might be applied more widely, rather than getting into the weeds of how to do DRAM init on one obsolete SOC. At some point the whole thing should be archived on the OFSC website so those of us not lucky enough to attend in person can hear what [Mate] — and all the other speakers — had to say.

Because coreboot is open, you can do a lot more with it than a proprietary UEFI firmware — for example, you can choose not to initialize RAM at all, and run entirely in the CPU’s cache. You can also — of course — run DOOM. If you want to be binary-blob-free, you’ll need to find hardware supported by the more hardcore Libreboot distribution of coreboot, which admits no binary blobs at all. When it comes to Libreboot, it might actually be easier to install than to find compatible hardware these days.

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12 insurtech start-ups to join 2026 InsTech.ie Foundry programme

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The initiative aims to ‘position Ireland as a leading testbed for insurance innovation by connecting emerging companies directly with insurers, industry experts, investors and experienced founders’.

12 Ireland-based insurance technology start-ups will participate in the second edition of InsTech.ie’s Foundry, a pre-accelerator programme run in partnership with Furthr, one of the country’s four Business Innovation Centres.

InsTech.ie is a national body that aims to connect start-ups, insurers, investors and policymakers to accelerate innovation and help Irish insurtech companies scale globally.

It is supported by 24 insurance industry members, tracks more than 120 Irish insurtech companies, and has eight innovation partnerships, including with IDA Ireland, KPMG and Enterprise Ireland.

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The Foundry initiative is designed to create a direct route between established insurance expertise and younger or smaller companies developing technologies capable of shaping the insurance sector’s future, according to InsTech.ie.

The programme aims to “position Ireland as a leading testbed for insurance innovation by connecting emerging companies directly with insurers, industry experts, investors and experienced founders”, according to its operator.

“The first Foundry cohort showed what can happen when ambitious founders are given direct access to the insurance expertise, networks and decision-makers that can help turn promising ideas into commercially viable businesses,” said Gary Leyden, CEO of InsTech.ie.

“With cohort two, we want to build on that momentum and give another group of companies the opportunity to validate their solutions, develop meaningful industry relationships and accelerate their path to market.

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“Ireland has a unique combination of insurance expertise and technology talent, and the Foundry is about bringing those two strengths together.”

The 12 selected companies, and their technological offerings, are:

Alteric AI

An AI orchestration layer for commercial brokerages to automate workflows across servicing, renewals, claims and new business.

Fairwrite

A start-up aiming to make life and protection insurance more inclusive for people with mental health conditions, disabilities or neurodivergence through a more individualised approach to underwriting.

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Finch AI Systems/LitAgent

An explainable AI platform to support personal-injury reserving and settlement valuation, producing consistent, traceable assessments while keeping the final decision with the claims professional.

Global Nutrition Value

This company is creating a time-stamped evidence trail for food safety and compliance data with applications across underwriting, loss prevention, claims and product recalls.

Insurteam MGA

A start-up creating a solution that combines embedded travel insurance distribution with AI-enabled claims handling, allowing partners to offer cover at checkout and customers to manage claims through WhatsApp.

Maximo

A platform connecting pensions, tax and open banking to help consumers better understand and increase their pension contributions and access associated tax relief.

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Model Library/Elliptic

This start-up is developing a climate-risk modelling platform to help insurers and other risk-transfer providers understand and quantify basis risk in parametric insurance.

RMI Agentic

A solution designed for managing risks created when autonomous AI agents transact on behalf of consumers.

SeatFair Technologies

This start-up is exploring how preference-pricing and optimisation technology could support complex reinsurance placements involving price, capacity, counterparties and terms.

TalkTerms AI/Swift Settle

An AI decision-support platform designed to help insurance professionals manage complex claims and complaints while retaining human oversight.

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Vardus

A pre-send compliance platform that checks customer communications, identifies potential regulatory issues and provides greater oversight of recurring compliance risks.

Voxalytics

This start-up’s solution analyses broker-client calls to automate administration and identify portfolio-level signals around customer retention, churn, cross-sell and growth.

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How to watch UFC 331: Van vs Pantoja 2 live streams, no PPV

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Tonight’s UFC 331 headline bout is a classic case of revenge or repeat as Joshua Van puts the UFC flyweight title he won against Alexandre Pantoja on the line at the Crypto.com Arena in Los Angeles. The Fearless won the belt in controversial fashion in December 2025 and the Cannibal is determined to right the wrong he has felt ever since.

Van’s victory at UFC 323 came after Pantjoa suffered a dislocated elbow 26 seconds into the original fight when the former fell and landed on the latter. The Brazilian has felt ignored by Dana White ever since, despite having championship victories against Brandon Moreno, Brandon Royval, Steve Erceg, Kai Asakura, and Kai Kara-France on his resumé. The 36-year-old has the experience and fuel from that defeat to inspire him. He’ll become the third flyweight champion to regain the belt after Moreno and Deiveson Figueiredo if he wins.

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