Money Talks - Is it dangerous to invest in a meme stock?
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
TPG to buy Australian automotive software firm Infomedia for over $420 million
Australia's Infomedia said on Wednesday it had agreed to be acquired by the Asia-focused private equity arm of asset manager TPG for an equity value of A$651 million ($421.33 million). Under the deal, shareholders in the ASX-listed firm would receive A$1.72 per share, reflecting a more than 30 per cent premium as compared to the stock's closing price on Tuesday. Infomedia shares rose nearly 28 per cent in early trade on Wednesday to reach A$1.6875, their highest level since September last year. Infomedia provides "software as a service" (SaaS) solutions for the global automotive and motor service sector, offering clients data-driven solutions. It counts global carmakers BMW, Audi, and Cadillac among its customers, according to its website. The A$1.72 per-share offer sits close to what was offered for the firm back in 2022 by potential suitors from the United States. The cash consideration reflects an enterprise value of A$579 million, the company said, adding that its board had endorsed TPG's bid. TPG Asia co-head Joel Thickins said Infomedia would join the private equity fund's existing global software investments worth $24 billion in firms including Wind River and McAfee. Infomedia is also allowed to pay its shareholders a fully-franked dividend of up to 2 Australian cents per share for fiscal 2025 and a further special dividend of up to 2.9 Australian cents apiece. The deal needs Foreign Investment Review Board's (FIRB) approval and Infomedia said a shareholder vote should be held by mid-November. ($1 = 1.5451 Australian dollars)
CNA
an hour ago
- CNA
OpenAI in talks for share sale valuing startup at $500 billion, Bloomberg News reports
ChatGPT maker OpenAI is in early talks about a potential secondary sale of stock for current and former employees at a valuation of about $500 billion, Bloomberg News reported on Tuesday. Reuters could not immediately verify the report.
CNA
an hour ago
- CNA
OpenAI eyes $500 billion valuation in potential employee share sale, source says
ChatGPT maker OpenAI is in early talks for a potential secondary stock sale that would allow current and former employees to sell shares, valuing the company at around $500 billion, a source familiar with the matter told Reuters on Tuesday. Bloomberg was first to report the news. The Microsoft-backed company aims to raise billions through the sale, with existing investors, including Thrive Capital, expressing interest in buying some of the employee shares, the source said. Thrive Capital declined to comment on a Reuters request. Separately, OpenAI is still in the process of raising $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.
