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GNOME Receives €1M Investment from Sovereign Tech Fund

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Heard of the Sovereign Tech Fund? I hadn’t, but the GNOME project has bagged itself a whopping €1 million investment from them.

GNOME plans to use the cash to “modernize the platform, improve tooling and accessibility, and support features that are in the public interest”, adding that the following projects and initiatives will benefit directly during 2024:

  • Improve the current state of accessibility
  • Design and prototype a new accessibility stack
  • Encrypt user home directories individually
  • Modernize secrets storage
  • Increase the range and quality of hardware support
  • Invest in Quality Assurance and Developer Experience
  • Expand and broaden freedesktop APIs
  • Consolidate and improve platform component

Whether you’ve been using Linux for a fresh minute or a veritable eon you’ll know GNOME is a core pillar in the FOSS movement.

GNOME is the default desktop environment in the most popular Linux distributions, its apps are used by millions of people worldwide, and GNOME-backed technologies underpin experiences across a dizzying array of devices, platforms, and industries.

With the Sovereign Tech Fund’s aim of supporting the “…development, improvement and maintenance of open digital infrastructure”, its synergies with the GNOME project are clear.

Sovereign Tech Fund

Image: sovereign tech fund

The Sovereign Tech Fund is a German government-funded initiative run by Adriana Groh and Fiona Krakenbürg, who have ‘many years of experience in promoting open-source technologies’ at national and international levels.

On its website, the Fund notes: “…the open source ecosystem, while incredibly successful, is also increasingly fragile. Many more people are using the software than contributing to it. It is time to invest in digital commons, volunteer communities and [open source] to build the digital world we want to see.”

Previous recipients of investment from the fund include curl, Fortran, WireGuard, OpenSSH, the Yocto Project, and a collaboration with OpenJS Foundation to ‘improve Javascript Ecosystem Infrastructure and Security‘.

So while I might not have heard of it, I’m glad I have. The Sovereign Tech Fund supports open-source infrastructure in the most critical way: with money.

Funding Our Futures

This is a major win for the GNOME project, for open-source, and for all of us who use and rely on the technologies it oversees.

With this investment, GNOME will be able to further focus on the things it does well, develop new features, and make it easier for people to contribute to the project.

Great stuff!

 

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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