OpenAI reportedly begins early talks with California attorney general over complex transition from nonprofit to for-profit structure
TECHNOLOGY POWERING BUSINESS
News fund raising
Trump Media Briefly Worth More Than X
Truth Social parent company Trump Media sees shares rally and then sink as stock price follows betting markets on Trump's election chances
Nvidia Market Value Hit By Historic Single-Day Drop
Nvidia market value sees biggest single-day decline on record for a US company, as investors pull back from AI speculation
TikTok Parent ByteDance Seeks $9.5bn In Loans
TikTok parent ByteDance seeks landmark $9.5bn in bank loans to refinance existing facility and fund operating expenses amidst expansion
Revolut Valued At $45 Billion, More Than Barclays, NatWest
Secondary share sale sees UK's Revolut now worth more than Barclays, NatWest and other large European banks
Crypto Firm HashKey Attains Unicorn Status With $100m Funding Round
Hong Kong-based crypto firm HashKey Group attains valuation greater than $1bn after $100m funding round, in sign of digital asset optimism
OpenAI’s Altman Courted Investors For AI Chip, Device
In weeks before his shock ouster from OpenAI Altman was reportedly looking to raise billions for an AI chip start-up and an AI-focused device
Instacart Reports Revenue Surge Ahead Of IPO
US grocery delivery firm Instacart reports 31 percent revenue surge ahead of delayed offering, as investors look for IPO recovery
Tech Investors Flee China As Political Tensions Worsen
Private capital fundraising in Asia-Pacific on track for 10-year low as VC funding in China drops nearly 55 percent, report finds
Microsoft-Backed Chatbot Maker Inflection AI Raises $1.3bn
Nvidia, Bill Gates, Eric Schmidt in round that values Inflection at $4bn as year-old start-up seeks to outpace OpenAI
ARM Files For IPO, But Not In London
Softbank's ARM Holdings registers for public listing in the US, in a blow to UK listing hopes and high level lobbying
ByteDance Plans Share Buy-Back As IPO Stalls
Planned share buy-back values TikTok owner ByteDance at $300bn, making it one of world's most valuable start-ups, as IPO plans stall
Meta Raises $10 Billion In Bond Offering
First ever bond offering sees Facebook parent Meta Platforms raise $10 billion, as it seeks to bolster finances, amid heavy Metaverse spending
SoftBank Sells Off Uber Stake, Cuts Vision Fund Staff
Japan's SoftBank sells off Uber stake, plans to cut staff at flagship Vision Fund investing arm as market turmoil leads to steep quarterly losses
ABB Delays IPO Of Electric Vehicle Charging Unit
Swiss industrial and tech conglomerate ABB delays planned flotation of electric vehicle charging operations a second time, citing market volatility
Bitcoin Recovers After Sinking Below $20,000
Bitcoin and other cryptocurrencies held on to Sunday gains after the biggest cryptocurrency dipped below $20,000 on Saturday, amidst industry gloom
GitLab Raises $800m In Successful Initial Public Offering
After a successful public debut that raised hundreds of millions of dollars, coding platform GitLab is now valued at an impressive $13 billion
Amazon-Backed Rivian Raises Another $2.5bn From Investors
Electric vehicle start-up raises another $2.5bn from existing investors such as Amazon, as it looks to deliver first vehicles this year