The prolific entrepreneur known for Tesla, SpaceX, and his dramatic acquisition of Twitter (now X), has added another milestone to his portfolio. His artificial intelligence startup has reached a valuation that surpasses Twitter’s.
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THE LATEST NEWS ON MERGERS & ACQUISITIONS, CAPITAL MARKETS AND TECH TRENDS
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    PHOTO: XAI

    Elon Musk’s ChatGPT rival xAI hits $50B valuation after raising $5B

    The prolific entrepreneur known for Tesla, SpaceX, and his dramatic acquisition of Twitter (now X), has added another milestone to his portfolio. His artificial intelligence startup has reached a valuation that surpasses Twitter’s. Read here

      Mubadala to acquire CI Financial in $8.7B deal

      The Abu Dhabi-based alternative asset management arm of Mubadala Investment Company has agreed to take the Canadian asset and wealth manager in an all-cash deal, including debt. Read here

      PHOTO: RAYSONHO @ OPEN GRID SCHEDULER

      CI Financial

      Anthropic, Amazon ties deepen with $4B funding

      The California-based AI safety and research company has announced an expansion of its partnership with Amazon Web Services, solidifying a collaboration that aligns cutting-edge AI with cloud technology. Read here

      PHOTO: ​​TONY WEBSTER

      aws

      Tricentis gets $1.33B investment from GTCR

      The Texas-based specialist in continuous testing and quality engineering received the fresh capital from the Illinois-based growth-oriented private equity firm at a $4.5 billion valuation. Read here

      PHOTO: ​​TRICENTIS

      Tricentris

      DEALS ROUNDUP

      • Anglo American receives $530M from Amplats stake sale
      • Driverless-tech firm Pony AI said to raise $260M in US IPO
      • Couche-Tard persistent on deal with 7-Eleven’s Seven & i
      • GE reaches $362.5M shareholder settlement over power unit
      • Ninety One secures $260M on first close of ACO Fund 3
      • Standard Chartered mulls sale of wealth, retail units in Africa
      • Vertical Aerospace’s eVTOL adds $50M to $180M transaction
      • Sirona Medical raises $42M in Series C financing led by Avidity
      • Cardless gets $30M for co-branded credit and loyalty cards
      • Range receives $28M in Series B led by Cathay Innovation

        INTERNATIONAL MARKETS

        Siemens secures $10.5B bridge loan for Altair deal

        The German technology company has secured a facility to be syndicated out to more than 10 banks to fund its acquisition for the software maker, which is its largest ever. Read here

        KKR, CPPIB seek to raise $4.2B to split Axel Springer

        The investors are looking to raise the debt to finance their bid to separate the German media conglomerate’s classified ads businesses from its news operations. Read here

        Banco BPM rebuffs underpriced UniCredit bid

        The Italian banking group dismissed the unsolicited takeover offer by its rival, saying it undervalued the bank, tied its hands in strategic deals and created new risks. Read here

          Globalia confirms interest from Air France-KLM

          The owner of Air Europa confirmed that it received interest from the Franco-Dutch group for a 20% stake in the Spanish airline, as well as interest other airlines and funds. Read here

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