A consortium headed by the Tesla and SpaceX CEO has offered to acquire the nonprofit that controls OpenAI, another salvo in the billionaire’s fight to block the artificial intelligence startup from transitioning to a for-profit firm.
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THE LATEST NEWS ON MERGERS & ACQUISITIONS, CAPITAL MARKETS AND TECH TRENDS

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    Elon Musk-led group makes $97B bid for control of OpenAI

    A consortium headed by the Tesla and SpaceX CEO has offered to acquire the nonprofit that controls OpenAI, another salvo in the billionaire’s fight to block the artificial intelligence startup from transitioning to a for-profit firm. Read here

      TD Bank to exit Charles Schwab stake for $14.6B

      The Canadian lender is set to offload its entire 10.1% stake in the Texas-based financial services firm at 184.7 million shares as part of a strategic review undertaken following a landmark fine. Read here

      PHOTO: SCHWAB.COM

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      AI investments surged 62% to $110B in 2024

      Venture capitalists are gobbling up term sheets for startups peddling artificial intelligence, but they’re remaining picky when it comes to funding the wider spectrum of technology. Read here

      PHOTO: PROMPT BY JPXG

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      NEWS WORTH NOTING

      Meta in historic rally amid AI funding offensive

      The Facebook parent’s record 16-day rally has been driven by all manner of news — even the kind that has pressured its megacap rivals — pushing its valuation toward $2 trillion for the first time. Read here

      PHOTO: NOKIA621

      Meta 300 Nokia621

      DEALS ROUNDUP

      • AI firm Groq receives $1.5B commitment from Saudi Arabia 
      • o15 Capital Partners closes inaugural growth fund at $400M
      • Elon Musk not interested in buying TikTok from ByteDance
      • Wearables specialist Epicore Biosystems raises $26M Series B
      • Boostly secures $22M in Series A funding led by PeakSpan
      • Proxymity receives $26M from BNP Paribas and JP Morgan
      • Raenest snag $11M in Series A funding led by QED Investors 
      • Fifteenth gets $8.25M in seed funding to expand operations
      • Cotiviti to buy healthcare data interoperability firm Edifecs
      • Questal nabs $3.2M in seed funding for AI-powered platform

        INTERNATIONAL MARKETS

        CATL to file for at least

        $5B in Hong Kong listing

        The Chinese battery giant plans to file the listing application this week to raise at least $5 billion, according to two sources with direct knowledge of the matter. Read here

        Merck in advanced talks to acquire $4B SpringWorks 

        The German healthcare, life science, and electronics company is in advanced talks to acquire the Connecticut-based cancer and rare diseases drugmaker. Read here

         

        Blackstone to sell Anthos

        to Novartis in $3.1B deal

        The Swiss pharmaceutical giant has agreed to acquire the Boston-based biopharma firm majority-owned by the private investment giant’s Life Sciences division. Read here

          Hyatt expands with $2.6B Playa Hotels acquisition

          The hotel giant is seeking to boost its presence in Mexico and the Caribbean with the purchase of the beachfront resort operator amid rising interest in upscale destinations. Read here

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