Markets - CybAI news

16 Aug

Jack Ma-Backed Ant Weighs Buying Health-Care Platform Haodf

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Jack Ma-backed Ant Group Co. is in discussions to acquire Chinese online platform Haodf.com to beef up its artificial intelligence services in health care, according to people familiar with the matter.The fintech company is seeking to integrate its technology with a platform like Haodf that provides online consultations with doctors, the people said, requesting not to be named because the discussions are private. The deliberations are still preliminary and could be subject to change, the people said. Source link lol

16 Aug

SoftBank Is Picking Stock Winners in India’s Red-Hot IPO Market

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India’s hot market for share sales is delivering wins for Japanese technology investor SoftBank Group Corp., whose own stock has taken a hit from disappointing earnings and a reality check on artificial intelligence.Three firms backed by SoftBank have made solid Mumbai debuts in the past week. Shares of e-scooter maker Ola Electric Mobility Ltd., the biggest of the initial public offerings, have surged more than 60%. Software maker Unicommerce eSolutions Ltd.’s shares are already up more than 80% while baby-products retailer Brainbees Solutions Ltd.’s have gained about 40%. Source link lol

16 Aug

Geely, Xpeng, Xiaomi Boosted by Strong Vehicle Sales Amid Threats From EU Tariffs

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Chinese automakers including Xpeng Inc., Geely Automobile Holdings Ltd. and Xiaomi Corp. should all report higher vehicle sales, though challenges remain as competition heats up and the European Union moves ahead with tariffs.The EU is hiking tariffs on EVs made in China by as much as 48%, citing subsidies that harm the bloc’s carmakers that have been struggling to keep up with China’s new generation of green car manufacturers. Chinese EV makers including Geely are responding by working with European partners to bypass tariffs. Source link lol

16 Aug

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

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Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.The company first hatched the plan for an upgrade to a primary listing in Hong Kong two years ago amid heightened tensions with the US. It may at last be realized by the end of the month, paving the way for it to join a program that connects the Shanghai and Shenzhen bourses to the Hong Kong exchange. Source link lol

15 Aug

Nvidia-Backed Cohesity Is Profitable, With 26% Revenue Growth

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Data security and management startup Cohesity is profitable and experienced revenue growth of 26% for its latest fiscal year, Chief Executive Officer Sanjay Poonen said in an interview on Bloomberg Television.Cohesity is backed by the SoftBank Vision Fund and Nvidia Corp. The company closed the fiscal year with $549 million in revenue, representing 26% growth from a year prior, Poonen said. It also turned free cash flow positive. Source link lol

15 Aug

Point72 Stake Sends Bitcoin Miner Higher as Short-Seller Attacks

stp2y0 CommentsRAG modelsartificial intelligence, bitcoin, Debt, Executives, finance, infrastructure, Markets, Paul B Prager, regulation, Technology, TWITTER INC

It’s Steve Cohen’s hedge fund versus an activist short-seller in the stock market today. And so far, Cohen is winning.Bitcoin mining company TeraWulf Inc. rallied as much as 18% on Thursday after Cohen’s Point72 Asset Management disclosed a 1.3% stake in the company in its second-quarter report to the Securities and Exchange Commission. The shares maintained most of those gains following a reportBloomberg Terminal published by Grizzly Research that accused the miner of enriching insiders at the expense of investors. Source link lol

15 Aug

Soros, Druckenmiller Pared Megacap Holdings Ahead of Summer Rout

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George Soros and Stanley Druckenmiller’s investment firms trimmed their holdings in “Magnificent Seven” stocks before this year’s ebullient run-up in technology companies gave way to a major downturn in mid-July.Soros Fund Management sold some of its stake in Alphabet Inc. totaling $58 million, and about $15 million of Amazon.com Inc., according to regulatory filings for the three months ended in June. Source link lol

14 Aug

InfraVia Weighing Sale of €1 Billion Swiss Data Center Operator

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French private equity firm InfraVia Capital Partners is considering a sale of Swiss data center operator Green, according to people with knowledge of the matter. InfraVia is working with advisers on the potential divestment, which could value the company at about €1 billion ($1.1 billion), said the people, who asked not to be identified as the information is private. Source link lol

14 Aug

Playtech Shares Jump 19% on Flutter Interest in Italian Unit

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Playtech Plc’s shares jumped the most in almost three years after the European gaming company confirmed reports it was in exclusive talks with Flutter Entertainment Plc on the potential sale of its Italian unit, Snaitech, for about £2 billion ($2.6 billion).The London-listed company confirmed the discussions in a statement Wednesday, following a report by Sky News. Playtech said it had granted Flutter a period of exclusivity to complete due diligence and finalize transaction documentation. Source link lol

14 Aug

Byju’s at Risk of Insolvency Again as Top Court Halts Settlement

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Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Troubled education-technology startup Byju’s is back facing a potential insolvency after India’s top court ordered a stay on a ruling that allowed it to avert bankruptcy. Source link lol