By Krystal Hu (Reuters) – OpenAI has raised $6.6 billion from investors at a post-money valuation of $157 billion, cementing the ChatGPT maker’s status as one of the most valuable private companies in the world,sources familiar with the matter said on Wednesday. The funding has attracted returning venture capital investors including Thrive Capital and Khosla…
By Hannah Lang (Reuters) -California fintech giant SoFi is teaming up with British capital markets platform PrimaryBid Technologies to expand its initial public offering share placement business, the company told Reuters. SoFi’s new directed share platform, which went live on Wednesday, is designed to allow companies raising capital to allocate a portion of their offering…
By Krystal Hu (Reuters) -OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable private companies in the world. The funding has attracted returning venture capital investors including Thrive Capital and Khosla Ventures, as well as…
(Reuters) -U.S. drugmaker Eli Lilly said on Wednesday it will invest $4.5 billion to create a new center in Indiana that will focus on developing new ways to manufacture its drugs and increasing production of experimental medicines used in clinical studies. Lilly and Danish rival Novo Nordisk are market leaders for a class of weight-loss…
By Akash Sriram and Abhirup Roy (Reuters) – Tesla is expected to report an 8% jump in third-quarter deliveries of its electric vehicles on Wednesday, Wall Street estimates show, driven by extended incentives and lucrative financing plans in the world’s largest auto market, China. Responding to sluggish Chinese spending amid flagging economic growth and rising…
(Reuters) -AT&T said on Monday it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for the telecom operator. AT&T, which acquired DirecTV in 2015, signed a joint-venture agreement with TPG in 2021, in which the private equity…
By Milana Vinn and David French (Reuters) – Buyout firm TPG has emerged as the frontrunner to pick up a minority stake worth $2 billion in Creative Planning, in a deal that could value the wealth management firm at more than $15 billion, people familiar with the matter said on Saturday. The deal would mark…
By Haripriya Suresh and Praveen Paramasivam BENGALURU (Reuters) – Indian authorities are set to begin a forensic investigation into the cause of a fire that broke out on Saturday at a Tata Electronics factory that makes components for Apple iPhones, a Tamil Nadu state official said on Sunday. The factory, for which Sunday was a…
By Suzanne McGee (Reuters) – Assets in actively managed exchange-traded funds (ETFs) worldwide hit a record $1 trillion at the end of August, according to data provider ETFGI, boosted by easier regulations and a wave of product innovation. Active ETFs seek to outperform the indexes they are benchmarked to, including the S&P 500, the Nasdaq…
FRANKFURT (Reuters) – Thyssenkrupp’s 27,000 steel workers must brace for deep cuts, the new head of the conglomerate’s steel division told a German newspaper, setting the stage for significant layoffs. “Tough cuts are necessary. We have to become more profitable,” Dennis Grimm, spokesperson for Thyssenkrupp Steel Europe’s (TKSE) executive board, told Westdeutsche Allgemeine Zeitung (WAZ)…
