2.2B

Chinese EV maker NIO (NIO) is trending after receiving $2.2 billion in funding from Abu-Dhabi’s CYVN Holdings. NIO’s stock is up over 5% Monday following the investment. NIO stock climbs after $2.2 billion investment With the new investment, CYVN will become a major NIO shareholder. The Abu Dhabi-backed investment company is investing $2.2 billion by subscribing to 294 million newly issued shares. The share repurchase price is $7.50, according to the press release. The news comes after NIO…

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy Friday Crunch! There’s a persistent theory in hardware that manufacturing overseas is the cheaper/better/more efficient option. You manufacture there, assemble somewhere else, and finally approve and get to market in the United States, Haje writes on TC+. It turns out that it’s possible to manufacture closer to home. With supply chains in the news more than ever, “nearshoring” is…

The days of European startups relocating to the U.S. if they want to grow (and raise money to do so) have been receding in the rearview mirror for a while now, so much so that even in these leaner times — where all fundraising and tech bets are tightening up — we’re still seeing some significant money and optimism getting channeled into later-stage businesses. In the latest development, EQT — the private equity and venture firm based out of Stockholm — is announcing that it has closed a €2.2 billion ($2.2 billion)…

David Kirton / Reuters: Huawei reports H1 revenue down 5.9% YoY to ~$44.73B and net profit down 52% YoY to ~$2.2B, due to a weak economy, COVID-19 disruptions, and supply chain issues — Huawei Technologies (HWT.UL) said on Friday its first-half net profit more than halved as a difficult economy curtailed demand from customers … David Kirton / Reuters: Huawei reports H1 revenue down 5.9% YoY to ~$44.73B and net profit down 52% YoY to ~$2.2B, due to a weak economy, COVID-19 disruptions, and…

TikTok says it has completed migrating its US users' data to Oracle's servers in the US  —  TikTok has completed migrating its U.S. users' information to servers at Oracle Corp (ORCL.N), in a move that could address U.S. regulatory concerns over data integrity on the popular video app, the company confirmed to Reuters. TikTok says it has completed migrating its US users' data to Oracle's servers in the US  —  TikTok has completed migrating its U.S. users' information to servers at Oracle Corp (ORCL.N), in a move that…