The artificial intelligence startup plans to meet with investors for a potential fundraising round, which would raise the value of the Grok chatbot developer and position it as a competitor to established players like OpenAI.
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Elon Musk’s xAI seeks $10B in new funding, eyes $75B valuation
The artificial intelligence startup plans to meet with investors for a potential fundraising round, which would raise the value of the Grok chatbot developer and position it as a competitor to established players like OpenAI. Read here
Los Angeles asset firms oversee $4 trillion fund
Los Angeles-based asset management firms overseeing more than $4 trillion in assets are grappling with the impact of the region's destructive wildfires on their operations, with some relocating.Read here
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Holiday Inn owner IHG to return $1.1B to investors
InterContinental Hotels Group, which also owns Crowne Plaza and Six Senses hotels, is repaying shareholders and buying European urban hotel brand Ruby, after annual room revenue beat expectations.Read here
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NEWS WORTH NOTING
xAI releases latest flagship model, Grok 3
Elon Musk’s artificial intelligence company has unveiled its latest flagship AI model and showcased new capabilities for the Grok iOS in response to models like OpenAI’s GPT-4o and Google’s Gemini.Read here
The Temasek Holdings-backed online seller of meat and seafood in India is seeking to become profitable as it prepares to list in 2026, adding to a slew of firms going public. Read here
LG kicks off roadshows for $1.5B India public offering
The South Korean electronics company has moved forward with plans for a Mumbai initial public offering this year of its Indian unit, reports say. Read here
Sany Heavy Industry may raise $1.5B in Hong Kong
The Chinese manufacturer of construction and mining equipment is planning a listing that could raise up to $1.5 billion, according to people familiar with the matter. Read here
Dream Security valued at $1.1B after major funding
The Israeli cybersecurity startup, which develops software to protect critical national infrastructure sites, raised $100 million in its latest funding round.Read here
