WeWork reported that it burned through $467 million in cash in the fourth quarter, a sign that the co-working space provider’s financial condition remains weak, even as revenue rose 7.8% to $718 million. For the full year, the company burned through $2.2 billion. The company is forecasting a much better year in 2022. It projects revenue will bounce back to $3.4 billion in 2022, up about a...
Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
The Electric electric vehicles
The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Recent Popular Stories
How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
Satya Nadella didn’t want to hear it. Last December, Peter Lee, who oversees Microsoft’s sprawling research efforts, was briefing Nadella, Microsoft’s CEO, and his deputies about a series of tests Microsoft had conducted of GPT-4, the then-unreleased new artificial intelligence large-language model built by OpenAI.
Data Point enterprise
Enterprise Software’s Laggards: Firms Growing Slowly And Still Burning Cash