Masayoshi Son is seeking as much as $100bn from Gulf investors for a fund that would buy companies and run them with AI, the FT reports. He raised nearly that much for the first Vision Fund in 2017. This time SoftBank already has almost $65bn in OpenAI.
An internal OpenAI presentation projects negative free cash flow of that size through 2030. The number is only shocking until you put it beside the revenue line.
Investors are offering OpenAI a valuation above $1.2tn, four days after its chief executive said a public listing was unlikely before 2027.
A dozen attorneys general trying to stop a $111bn merger will sit down with the buyer at the end of October. California's attorney general says that is routine.
Fifteen years of compliance produced a rule the Commission now says advisers over-applied, and a proposal to rescind it outright rather than repair it.
Justice Department reviewers are looking at whether a $20bn arrangement was designed to deliver an acquisition's effect without triggering an acquisition's review.
A Series D at a $23bn valuation, led by the UAE, comes with a commitment to dig more than 150 kilometres of tunnel in the country funding it.