OpenAI, the pioneering artificial intelligence research lab behind the popular ChatGPT, has successfully secured $6.6 billion in funding, boosting its valuation to a staggering $157 billion. This round of investment attracted major participants, including returning venture capital firms like Thrive Capital and Khosla Ventures, along with tech giants such as Microsoft and Nvidia. Additionally, investment […]

In a significant development for Middle East and Africa’s (MEA) entrepreneurial ecosystem, Singapore-based multi-business operator and long-term investor Agility Global has announced an investment in Global Ventures’ third fund. While the exact investment amount remains undisclosed, the backing signals a substantial vote of confidence in the region’s burgeoning startup scene, particularly in sectors like supply […]

San Francisco: Global investment firm Fidelity has drastically reduced the valuation of its stake in X, formerly known as Twitter, by 78.7%, suggesting the social media platform’s overall valuation has plummeted to just $9.4 billion. This stark contrast to its original $44 billion purchase price in October 2022 highlights the challenges Elon Musk’s platform faces […]

Thailand’s underperforming $77 billion Social Security Fund (SSF) has announced a strategic overhaul to inject $11.6 billion into global private assets, according to a senior executive, in a move designed to address the fund’s stagnant returns and the looming demographic challenge posed by the country’s aging population. The SSF, Thailand’s largest state fund, which provides […]

In a significant development for Southeast Asia’s tech and digital landscape, Vietnam is currently reviewing a proposal from SpaceX for a massive $15 billion investment in its satellite internet service, Starlink. According to a report from Bloomberg, this investment aims to bring cutting-edge satellite connectivity to Vietnam, enhancing both urban and rural internet access while […]

In a landmark ruling, Vanguard Investments Australia Ltd., a unit of the U.S.-based asset management giant Vanguard Group, has been slapped with a record fine of A$12.9 million (approximately $8.9 million USD) by Australia’s Federal Court. The penalty marks the largest greenwashing fine in the country’s history, signaling a robust regulatory crackdown by Australian authorities […]

The International Finance Corporation (IFC), the private investment arm of the World Bank Group, reached an all-time high of $56 billion in investments for the financial year ending in June 2024. According to Makhtar Diop, the IFC’s Managing Director, this represents a 28% increase in commitments year-on-year, driven by strategic reforms initiated by World Bank […]

Intel Corporation (NASDAQ: INTC) saw a significant boost in its stock price on Monday after a Bloomberg report indicated that Apollo Global Management might make a multibillion-dollar investment in the tech giant. According to the report, Apollo could invest up to $5 billion, giving Intel a much-needed influx of capital as it navigates a competitive […]

Tech giant Intel has been making headlines lately, navigating a challenging landscape that has tested its resilience. Following a turbulent period marked by declining market share and strategic overhauls, Intel is now the subject of speculation regarding a potential acquisition by Qualcomm. While these acquisition rumors have not been substantiated, another significant development has emerged—Apollo […]

Global investors are on high alert following a significant U.S. Federal Reserve rate cut that has sparked confusion over the future direction of the world’s largest economy. The unprecedented move has left market participants questioning whether the U.S. is poised for an economic boom or a potential downturn, leading to uncertainty in stocks, bonds, and […]