AI’s Trillion-Dollar Price Tags Meet a Market That Blinked
A month ago the debate over the two leading AI labs was whether they were worth $1.5 trillion or $2 trillion. This week the debate moved lower. OpenAI closed $11 billion at a $1.25 trillion valuation, below the price it first sought and far short of the $30 billion it once hoped to raise. Anthropic’s […]
OpenAI Raises $11 Billion at a $1.25 Trillion Valuation
OpenAI closed on $11 billion of new funding, the first piece of a round that values the artificial-intelligence company at $1.25 trillion, according to people familiar with the matter, as investors grow more selective about the prices they will pay for AI developers. The initial close covers a little more than a third of the […]
Blackstone Lends $310 Million on Nashville’s Peabody Union Tower
A joint venture of PGIM, Stiles Corp. and Hensler Development refinanced Peabody Union, a new mixed-use tower in downtown Nashville, Tenn., with a $310 million bridge loan from Blackstone’s real-estate debt business. Blackstone Real Estate Debt Strategies provided the loan, which has a three-year term and two one-year extension options. A JLL Capital Markets team […]
TKO Prices $1 Billion of Secured Notes to Help Fund Buybacks
TKO Group Holdings Inc., the owner of UFC and WWE, priced $1 billion of five-year senior secured notes, borrowing in the bond market with proceeds that can go toward buying back its own stock. The 6.500% notes due 2031 were issued by subsidiary TKO Worldwide Holdings LLC. The offering is expected to close on or […]
Energy Transfer Prices $2.7 Billion of Notes in Three Parts
Energy Transfer LP priced $2.7 billion of senior notes split evenly across three maturities, using the investment-grade market to term out short-term borrowings as pipeline operators keep spending on gas and liquids networks. The Dallas partnership sold $900 million of 5.450% notes due 2032 at 99.972% of face value, $900 million of 5.900% notes due […]
Anthropic IPO Buyers Weigh $1.1 Trillion to $1.3 Trillion Value
Prospective investors in Anthropic’s initial public offering are lowering the price they are willing to pay, discussing a valuation of roughly $1.2 trillion to $1.3 trillion and in some cases as little as $1.1 trillion, according to people familiar with the deliberations, after a steep selloff in technology stocks. The range marks a sharp retreat […]
Fox Completes $22 Billion Roku Takeover Months Ahead of Plan
Fox Corp. completed its roughly $22 billion acquisition of Roku Inc. on Friday, closing the cash-and-stock deal well ahead of the 2027 timetable many investors had expected and giving the broadcaster control of a streaming platform used in more than 100 million households. Fox agreed in June to pay $160 a share for Roku, about […]
SoftBank, ABB Weigh China Carve-Out After Beijing Blocks Deal
SoftBank Group Corp. and ABB Ltd. are weighing whether to separate the Chinese operations of ABB’s robotics business from SoftBank’s planned $5.4 billion purchase after Beijing blocked the transaction, according to people familiar with the discussions. SoftBank said Friday that on Nov. 4 it received notice from China’s Office of the Working Mechanism for Foreign […]
DTE Energy to Sell DTE Vantage to J.P. Morgan-Advised Funds
DTE Energy Co. agreed to sell DTE Vantage, its non-utility energy-projects business, to investors advised by J.P. Morgan Asset Management for about $2.97 billion in cash, as the Detroit company narrows its focus to regulated electric and gas utilities that are spending heavily to serve data centers. The buyer is Velocity BidCo LLC, a vehicle […]
Adani Ports to Buy European Tank Operator Evos for €2.56 Billion
Adani Ports and Special Economic Zone Ltd. agreed to buy Evos B.V., a Netherlands-based operator of fuel and chemical storage terminals, from Igneo Infrastructure Partners in an all-cash deal valuing the business at €2.56 billion, about $2.9 billion, including debt. The Indian port operator said the purchase values Evos’s equity at €1.18 billion and represents […]