Nvidia is acquiring Hugging Face for almost $13 billion
Nvidia CEO Jensen Huang said Hugging Face would remain an “open platform for the entire AI ecosystem.”
Investing
Uber cuts 10% of staff in company’s largest layoffs since pandemic
Uber’s stock price rose slightly after the announcement on Wednesday.
$1.2 billion VC King River Capital predicts ‘flood’ of super money flowing to startups
Two proposed amendments to superannuation will be a boon for the startup sector, predicts King River Capital.
Malaysian Energy Tycoon Lim Hang Weng In Talks To Take Yinson Holdings Private In $1.7 Billion Deal
Yinson Holdings is among the world’s biggest operators of floating, production, storage and offloading, or FPSO vessels, which are on long-term leases to oil and gas companies in Angola, Brazil, Ghana, Nigeria, and Vietnam.
PayPal plunges 15% after reports that Advent, Stripe abandon $53 billion bid
PayPal shares fell as much as 16% in premarket trading Friday after Bloomberg reported that Stripe and Advent International abandoned their pursuit of the company.
Qantas takes a corporate travel hit – but luxury flyers are booming
The war in Iran has caused conspicuous belt tightening among corporates, hitting Qantas’ bottom line. Yet premium travel is flourishing – a key metric as the airline prepares for Project Sunrise, its ultra-long-range flights to London and beyond.
VCs are so obsessed with this AI assistant that its valuation jumped fivefold in weeks
A hot new AI agent called Instinct was valued at $500 million earlier in August, sources say. Now it’s raising a new round at a $2.5 billion valuation from Benchmark and Index.
Anthropic overtakes SpaceX in betting odds for 2026’s biggest IPO
Anthropic is expected to make an initial public offering as soon as October, with reports indicating its valuation could range between $1 trillion and $2 trillion.
Blackbird closes record $1 billion fund, but turns ‘cautious’ on AI
Blackbird has raised $1.05b from prestigious global institutions like Morgan Stanley and Schroders to establish the biggest Australian VC fund yet.
TikTok’s international revenues boom to $9.1 billion despite looming fines
TikTok made $9.1 billion and its first profit in Europe and Latin America but faces a wave of lawsuits and investigations from European regulators.