Tech star Darktrace soars despite losses ballooning to more than £100m

tech star darktrace soars despite losses ballooning to more than 100m

Sumary of Tech star Darktrace soars despite losses ballooning to more than £100m:

  • Shares in Darktrace rocketed higher even as the British tech star’s annual losses ballooned to more than £100m.
  • The cyber security firm listed in April with a value of £1.7billion, or 250p per share.
  • Rising star: Cyber security firm Darktrace listed in April with a value of £1.7bn, or 250p per share.
  • Its cyber security services have boomed during the pandemic, as businesses splash out on better anti-virus and anti-malware software to protect staff working remotely.
  • Cyber attacks using ransomware, which seizes control of computers until users pay criminals a fee, are on the rise.
  • Cambridge-based Darktrace specialises in software to monitor computer networks, with artificial intelligence (AI).
  • Poppy Gustafsson, Darktrace’s boss, said: ‘As the adoption of self-learning AI accelerates globally, we are excited to be continually pushing the boundaries of innovation.

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