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.
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
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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
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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
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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