Nvidia Corp., an American chip manufacturer, will put $5 billion into its struggling competitor Intel Corp. as part of collaboration to co-develop new chips for data centers and personal computers, according to Intel's announcement. Nvidia will purchase $5 billion worth of Intel stock at $23.28 per share. Intel stock finished at $24.90 on Wednesday. Intel stocks surged 29% in pre-market trading...

Authentic Brands, the American retail conglomerate that owns Reebok, along with investment firm CVC Capital Partners, is reportedly looking to purchase the German sportswear company Puma, as per Manager Magazin. Authentic Brands CEO Jamie Salter and CVC Germany leader Alex Dibelius have shown interest in acquiring a 29% share in Puma from the Pinault family of France. The German magazine points...

The American branch of the social media platform TikTok could be acquired by a group of investors that includes Oracle Corp., according to The Wall Street Journal, referencing sources. The report states that the division will be separated into a standalone company, which will be controlled by a consortium that, alongside Oracle, will feature Silver Lake and Andreessen Horowitz, along with current...

Investment firms Carlyle Group and EQT, along with China's HongShan Capital Group and Boyu Capital, are finalizing their bids to acquire a majority share of the Chinese branch of Starbucks Corp., according to Reuters. As per the agency's sources, Starbucks has requested that investors submit their bids by early October. One of the sources mentioned that an agreement might be reached by the end of...

The establishment of a battery facility in Georgia, USA, collaboratively managed by South Korean firms Hyundai Motor Group and LG Energy Solution, has faced several months of postponement following an immigration enforcement operation at the location. In the course of the raid, US authorities apprehended 475 workers, the majority of whom were South Korean nationals. “This will lead to a delay...

ExxonMobil Corp. anticipates that the European Union will finalize long-term contracts to purchase gas from the US as part of a trade deal where Brussels has agreed to acquire $750 billion in energy from the US, writes the Financial Times. According to Peter Clarke, ExxonMobil's senior vice president for LNG operations, Europe is now the “most significant market” for US LNG exports, and Brussels'...

Elon Musk's aerospace firm SpaceX is purchasing spectrum licenses from EchoStar Corp. for $17 billion. As stated in a press release from EchoStar, SpaceX will disburse $8.5 billion in cash along with an equal amount in its stock. EchoStar plans to utilize the funds from the agreement to reduce debt and support additional expansion. According to the agreement, SpaceX will additionally cover...

The European Commission has imposed a €2.95 billion penalty on Alphabet Inc.'s Google due to anti-competitive behavior in its advertising sector. The EC stated that Google had exploited its dominant position by prioritizing its own advertising services and must cease this behavior. Since 2014, the company has been exploiting its leading position to the disadvantage of competitors and online...

OpenAI, the creator of ChatGPT, is acquiring Statsig, a startup that creates tools for testing software features. The payment for the deal will be made solely using OpenAI shares. With OpenAI’s current valuation at $300 billion, the agreement will total approximately $1.1 billion. Statsig CEO Vijaye Raji will be named CTO of OpenAI's applications and will oversee the engineering development of...