Buy-now, pay-later giant Klarna files for IPO in the US
Klarna filed for an initial public offering. Nikolas Kokovlis/NurPhoto via Getty Images Buy-now, pay-later firm Klarna has filed draft registration documents for an IPO in the US. The Swedish firm has not confirmed the price range and number of shares it will offer. Klarna was once Europe’s most valuable startup but its valuation fell amid […]
One of OpenAI’s biggest new investors explains why it made its $500 million bet
SoftBank invested $500 million in OpenAI’s funding round that valued the company at $157 billion. Jason Redmond/AFP/Getty Images OpenAI announced in October that it raised $6.6 billion at a blockbuster $157 billion valuation. Among its new backers was a well-known investor: SoftBank. SoftBank’s Vision Fund CFO Navneet Govil told BI why it bet on the […]
How investors are about to profit from a tidal wave of new homes
Adobe Firefly, pixhook/Getty, Tyler Le/BI Builders have too many new homes on their hands. Thanks to a construction boom years in the making, homebuilders are sitting on more newly completed homes than at any point since 2009, when the market was reeling from the global financial crisis. Despite the hefty ready-to-sell supply, a sizable chunk […]
Russia’s lucrative oil and oil industry is an easy target for Europe after Trump’s election victory
The EU is considering replacing Russian liquified natural gas imports with US shipments — a move that could hit President Vladimir Putin’s war chest. Contributor/ Getty Images Trump’s presidency may pressure Russia’s oil and gas industry. The EU is thinking about replacing Russian LNG with US shipments, potentially affecting trade dynamics. Trump’s energy policies could […]
SoftBank is Nvidia’s first Blackwell chips customer. Here’s what they’re going to be used for.
SoftBank Group will be the first to own Nvidia’s Blackwell chips. Slaven Vlasic/Getty Images for The New York Times; Chelsea Jia Feng/BI SoftBank is the first to buy Nvidia’s Blackwell chips, the companies said Wednesday. The chips will power a supercomputer in Japan. The collab comes amid skyrocketing demand for Nvidia chips as companies scramble […]
Silicon Valley’s swing toward Trump is real. Here’s the data to prove it.
iStock; Rebecca Zisser/BI A notable portion of Silicon Valley’s electorate has steadily shifted toward Donald Trump. While the region remains solidly Democrat, the GOP candidate made gains in this election. In Santa Clara, San Mateo and San Francisco counties, Trump’s voteshare increased by several points. Silicon Valley, long considered a progressive stronghold, has begun to […]
Crypto Mania Reaches New Heights: What Trump’s Return Means for Digital Assets
Is the thrill surrounding cryptocurrencies justified by Donald Trump’s re-election victory? For crypto enthusiasts, Trump’s win is more than just political—it feels like vindication. As news of Trump’s re-election broke, bitcoin, the world’s most traded cryptocurrency, saw a 10% spike, peaking at an all-time high of $89,000 on November 11th as Republicans neared control of […]
‘$1 billion disaster’: Here’s what FEC filings show about Harris campaign’s 3 month spending spree
Vice President Kamala Harris’ failed presidential campaign spent more than $1 billion in three months, highlighted by several expenditures that have drawn intense criticism, including spending on celebrity influencers, radical activist groups and private jets. FEC filings show the Harris campaign made two $500,000 payments to Oprah Winfrey’s production company, first reported by the Washington Examiner, […]
AWS is negotiating a huge deal to supply IBM with Nvidia GPUs via the cloud
Noah Berger/Getty Images AWS is negotiating a potential $475 million AI cloud deal with IBM. IBM already uses AWS services for AI, including training models on EC2 servers with Nvidia chips. Amazon said its AI business is growing at “triple digit percentages” annually. IBM needs more Nvidia GPUs. Amazon Web Services wants to provide them […]
Is Warren Buffett Seeing Something We’re Missing?
Berkshire Hathaway is stockpiling cash, following a pattern similar to what it did before the financial crisis. This time, however, there’s a fresh rationale. Should regular investors be concerned when the world’s most-followed investor appears cautious? Although Warren Buffett has often said his ideal holding period for a stock is “forever,” he’s currently holding back […]
