British fintech Wise said this week it would shift its primary listing from London to New York, joining a growing list of firms snubbing the London Stock Exchange. UK chip designer Arm opted for a New York IPO in 2023, while food delivery giant Just Eat Takeaway quit the LSE for Amsterdam in November.  Sweden’s Klarna has confirmed plans to go public in New York, following in the footsteps of fellow Stockholm-based tech darling Spotify, which listed on the NYSE in 2018.  The draw? Bigger valuations, deeper capital, and more appetite for risk. Register Now “The US economy continues to perform far better than the EU, and valuations are simply higher for companies that can list there,” Victor Basta, managing partner at Artis Partners, told TNW.    The numbers back him up. The NYSE boasts a market cap of around $27 trillion — compared to just $3.5 trillion for the LSE.  That scale — and the deep-pocketed investors it attracts — pushed Arm to list across the pond. Wise followed for the same reason, according to CEO Kristo Käärmann.  Käärmann said the move would tap “the biggest market opportunity in the world for our products today, and enable better access to the world’s deepest and most liquid capital market.”  Beyond sheer growth potential, US investors are also known for taking bigger bets on growth-stage tech companies.   “US investors understand the whole ‘revenue-before-profit’ strategy,”  Andrey Korchak, a British serial entrepreneur, told TNW. “Meanwhile, in Europe, they often want to see revenue from day one.”  That risk aversion, Korchak believes, restricts the growth of startups. “Europe just doesn’t have the same density of tech unicorns,” he said. “And when startups here do hit that billion-dollar mark, most still prefer to list in the US.” Sean Reddington, co-founder of UK tech firm Thrive, fears that Wise’s New York listing will deepen the problems.  “Wise’s move to the US signals a worrying trend,” he said. “It threatens a ‘brain drain’ of capital and talent, making it harder for growth-stage VCs to invest in UK scaleups without a clear US exit plan.” He called for urgent government action, including providing “meaningful incentives” for tech firms to list in the UK.  “If the ultimate reward of a domestic IPO is diminished, it pushes more companies to consider relocating or listing overseas,” he said. Europe’s startup struggles will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at checkout to get 30%. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The world's largest manufacturer of graphics processing units (GPUs) is facing allegations of review manipulation — and the claims being made are pretty egregious.According to the GamersNexus blog and others within the PC gaming review industry, Nvidia has allegedly been trading access to its new GeForce RTX 5060 GPU for friendly reviews. Those who haven't promised such positive coverage for the $300 gaming gadget, meanwhile, claim they've been left in the dust."NVIDIA has offered certain unqualified media outlets access to drivers which actual qualified reviewers do not have access to, but allegedly only under the premise of publishing 'preview' of the RTX 5060 in advance of its launch," GamersNexus claimed in a recent vlog. "Some outlets were given access to drivers specifically to publish what we believe are puff pieces and marketing while reviewers were blocked."Another site, Videocardz.com, went on to report that the German website GamerStar Tech disclosed such an arrangement with Nvidia, detailing that the chip company allowed them to publish a preview of the 5060 but still "dictated" all the settings the reviewer used.We reached out to Nvidia to ask about these allegations, but a representative declined to comment.To add insult to injury, Nvidia chose to launch the new graphics card — which, as Boing Boing notes, has less RAM than previous generations — in the middle of Taipei's Computex conference last weekend, which many would-be reviewers attended."Even if reviewers already had a GPU in hand before then, Nvidia cut off most reviewers’ ability to test the RTX 5060 before May 19th by refusing to provide drivers until the card went on sale," The Verge's Sean Hollister wrote of the debacle. "Gaming GPUs don’t really work without them."Once more reviewers got their hands on the new mid-range chip, all bets were off."In our opinion, Nvidia had a clear opportunity to deliver a meaningful upgrade here," TechSpot wrote in its no-holds-barred review. "Instead, they've recycled the same class of GPU for five years, offering incremental discounts with each release."It's especially interesting at a moment when Nvidia's red-hot commodity is no longer graphics cards at all, but instead powerful chips aimed at powering AI infrastructure, prompting accusations that the company is now snubbing the gamers who kept it going for all these years so far.One thing's for sure: for a corporation that was, in 2024, listed as the most ethical companies to invest in by the Insider Monkey finance blog, Nvidia sure seems to be acting sketchily at the exact moment that it's gaining significant global power.More on internet ethics: Reddit Threatens to Sue Researchers Who Ran "Dead Internet" AI Experiment on Its SiteShare This Article