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Funding, IPOs, valuations and the business of tech.
Startups Fox to Acquire Roku in $22 Billion Deal WireByte Fox Corporation is set to acquire Roku in a $22 billion deal, expanding its media empire and gaining control of Roku's 100 million households. The acquisition will make Fox the third-largest player in U.S. television, with a significant impact on the modern media landscape.
Startups SpaceX Acquires AI Startup Cursor for $60 Billion WireByte SpaceX has acquired AI coding startup Cursor for $60 billion in stock, following a deal announced in April. The acquisition is part of SpaceX's efforts to bolster its xAI division, which has faced controversy. SpaceX's valuation has ballooned to $2.7 trillion, surpassing Amazon, following a 20% stock price climb.
Startups SpaceX Acquires Anysphere for $60 Billion WireByte SpaceX, led by CEO Elon Musk, has agreed to purchase Anysphere, the operator of the coding agent Cursor AI, for $60 billion. The deal is subject to regulatory approval. The acquisition aims to enhance SpaceX's artificial intelligence capabilities. Anysphere's team will join SpaceX, but details on the integration process remain unclear.
Startups Google Invests $1.5 Billion in Alabama Data Center, Pledges 100% Renewable Energy WireByte Google is investing $1.5 billion to expand its Jackson County, Alabama data center over two years. The tech giant pledged to cover 100% of the facility's energy costs, aiming for eventual nuclear power. This expansion addresses rising demand for digital services and aims to mitigate environmental concerns associated with data centers.
Startups SpaceX Acquires AI Startup Cursor for $60 Billion in Stock WireByte SpaceX announced a $60 billion stock acquisition of AI coding startup Cursor, days after its IPO. The move aims to bolster SpaceX's AI division, which has faced restructuring and controversies. The deal, expected to close in Q3, was previously signaled in April with a significant break-up fee provision, potentially impacting SpaceX's stated AI market ambitions.
Startups Foundation Alloy raises $22M for novel metal-making technique WireByte Foundation Alloy has raised $22 million in a Series A funding round led by Voyager Ventures. The startup uses a novel technique, "smashing metal powder particles together," to create superior metal alloys, differing from traditional melting methods. This innovation aims to produce materials for industries including aerospace, defense, and luxury goods, with plans to scale production.
Startups AttoTude Secures $52M in Funding for AI Infrastructure Interconnect Tech WireByte AttoTude Inc., a pioneer in AI infrastructure interconnect technology, has secured $52 million in Series C funding to accelerate the commercialization of its ASIC over Dielectric technology. The investment, led by The Westly Group, will enable the company to meet surging demand in the AI market and deliver performance and efficiency gains for next-generation AI infrastructure.
Startups SpaceX Raises Record $85.7 Billion in IPO WireByte SpaceX's stock surged 20% on its second day of trading, valuing the company at over $2.5 trillion. The rocket startup raised $85.7 billion in its initial public offering (IPO), exceeding its original target of $75 billion. The massive valuation is based on Elon Musk's ambitious plans for space exploration and satellite operations.
Startups HCL Tech Invests $150M in Sarvam AI for Global Market Expansion WireByte Indian IT major HCL Tech invested approximately $150 million for a 10.46% stake in Sarvam AI, India's largest pure-play AI startup. This strategic move, part of Sarvam AI's $300 million Series B funding round, aims to develop industry-specific AI solutions for global clients and enhance sovereign AI capabilities, prompting a rise in HCL Tech's shares.
Startups India's Sarvam AI Secures $234M, Valued at $1.5B, with HCLTech Lead WireByte Indian AI startup Sarvam has raised $234 million in its Series B funding round, achieving a $1.5 billion valuation. HCLTech led the investment with $150 million, aiming to build a sovereign AI ecosystem. Funds will support AI model research, compute access, talent acquisition, and global expansion.