Surge of Successful Tech IPOs Gives Hope to Silicon Valley Startups
Welcome to Tech In Depth, our daily newsletter with reporting and analysis about the business of tech from Bloomberg's journalists around the world. Today, Katie Roof and Kate Clark report on the light at the end of the tunnel for Silicon Valley tech startups after a few recent successful debuts in the public markets.
AI megaproject: OpenAI is helping G42, an AI company backed by the United Arab Emirates' sovereign wealth fund, build a massive data center under its 'Stargate' brand in Abu Dhabi.
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an hour ago
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Looking for More Dividends? These 4 Singapore REITs Could Be Perfect for You
With high interest rates and inflation posing a threat to your savings, dividend-paying REITs have become a go-to choice for investors seeking passive income. REIT managers have been restructuring their portfolios in both the retail and industrial space. However, only a handful check all the crucial boxes of reliable distributions and a resilient portfolio. Here are four Singapore REITs for investors seeking to enhance their income stream. Keppel DC REIT or KDCR, is a sector-specific REIT in data centre infrastructure across the Asia-Pacific and Europe. As of the end of 2024, KDCR's assets under management (AUM) has seen substantial growth to about S$5 billion which is about five times its AUM when it had its initial public offering in 2014. For the first quarter of 2025 (1Q 2025), KDCR's distributable income increased by 59.4% year-on-year (YoY) and its distribution per unit (DPU) increased by 14.2% YoY. In 1Q 2025, KDCR also has a high portfolio occupancy of 96.5%. In March 2025, KDCR realised a profit from the divestment of Kelsterbach Data Centre, giving it more financial flexibility. Moving forward, KDCR acknowledges the high opportunity for growth from strong demand for data centres as the Artificial Intelligence (AI) industry scales. KDCR has a healthy debt profile with only 2.2% of its debt maturing in 2025. KDCR's DPU is also less sensitive to a change in interest rates with a 0.5 percentage point increase in interest rates resulting in a low 1.1% decline for its 1Q 2025 DPU. Capitaland Ascott Trust or CLAS, is the largest lodging trust in the Asia-Pacific with S$8.9 billion in total assets. CLAS has a geographically diverse portfolio with properties spanning across 46 cities in 16 countries. For 1Q 2025, the trust enjoyed a strong performance from its stable income sources such as master leases which make up 70% of its gross profit. CLAS also experienced a 4% YoY growth of its gross profit. In 1Q 2025, CLAS made two strategic acquisitions of Japanese hotels. This acquisition not only increased CLAS' market exposure in Japan but also increased its distribution per stapled security by 1.6% on a 2024 pro forma acquisition also improved the trust's portfolio as the blended net operating income (NOI) of the acquired hotels was over two times that of the NOI of divested properties in 2024. Macroeconomic challenges such as Trump's tariffs are also mitigated by CLAS due to a highly diversified portfolio in terms of properties and countries, thus reducing concentration mitigation strategies hedge against foreign currency and interest rate risk as well as a reduction in lodging demand due to rising costs. AIMS APAC REIT or AAREIT, is an industrial REIT with a portfolio consisting of properties in Australia and Singapore. For fiscal year 2025 (FY2025) ending 31 March 2025, AAREIT demonstrated a promising net property income growth of 2.1% YoY and a DPU growth of 2.6% YoY to S$0.096. AAREIT also has a high occupancy rate of 93.6%. AAREIT has several Asset Enhancement Initiatives (AEIs) such as the revitalisation of Optus Centre Campus in Macquarie Park,Australia, which will increase the functionality of the event space. By doing so, the Campus will appeal to a wider range of tenants and improve long term tenant retention. AAREIT also has a healthy portfolio weighted average lease expiry (WALE) value of 4.4 years which makes for a smoother and more predictable rental income stream. As of FY2025, AAREIT has total gross debt of S$582 million with no refinancing required for FY2026. Frasers Centrepoint Trust, or FCT, is a retail REIT which owns primarily suburban retail malls in Singapore. For the first half of fiscal 2025 (1H FY2025), FCT reported a YoY increase of 7.3% in net property income and a 0.5% YoY increase in DPU to S$0.0605. Its retail malls showed an increase in shopper traffic and tenants' sales by 1% YoY and 3.3% YoY, respectively. For 1H FY2025, FCT's debt profile is healthy with an aggregate leverage of 38.6% and a cost of debt decreasing by 0.1% quarter-on-quarter to 3.9%. The retail REIT also has a well-spread debt maturity profile and a stable credit rating. FCT has active AEIs with the recent completion of the AEI for Tampines 1 and the commencement of the AEI of Hougang had 41 new-to-portfolio tenants in 1H FY2025 such as Munchi Pancakes at NEX and Honor at Causeway Point. The trust also has several new-to-market tenants upcoming such as OH!SOME at Suntec City and KKV at Tiong Bahru Plaza. These efforts to revamp the malls and introduce new tenants allow FCT's malls to stay relevant, increasing foot traffic and improving tenant retention. With the increasing number of new homes around its malls as well as increasing household income, FCT sees an increase in future consumer spending resulting in long-term growth for retail spaces. In an environment where economic uncertainty is a primary concern, dividend reliability matters more than ever. These four REITs exhibit not only dependable dividend payments but also sound capital management and growth potential. Whether you are a seasoned income investor or just starting out, these REITs deserve to be in your dividend portfolio. When the market is unpredictable, where can you park your money with confidence? Our latest FREE report reveals 5 Singapore dividend-payers built to withstand global storms. Get it now and see what's still worth holding. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Gabriel Lim does not own shares of any of the companies mentioned. The post Looking for More Dividends? These 4 Singapore REITs Could Be Perfect for You appeared first on The Smart Investor.
Business Insider
an hour ago
- Business Insider
CEG, OKLO, and SMR Get Set to Power the AI Boom via Nuclear Energy
The nuclear energy sector is experiencing a resurgence unseen in decades, driven largely by its potential to power the burgeoning AI revolution. Major technology companies such as Meta (META), Microsoft (MSFT), and Alphabet (GOOGL) are competing to secure reliable energy sources for their expanding data centers, and nuclear power's clean, consistent output has positioned it as a key player in this race. Confident Investing Starts Here: Leading this revival are three companies—Constellation Energy (CEG), Oklo (OKLO), and NuScale Power (SMR) —each bringing a distinct approach to the nuclear landscape. Over the past year, all three have outperformed the market, capturing investor attention amid rising energy demand. Constellation Energy (NASDAQ:CEG) | The Nuclear Titan Locking in Tech Giants Constellation Energy is the 800-pound gorilla of U.S. nuclear power, and it's just landed a deal that's got everyone's attention. Just two days ago, CEG signed a 20-year power purchase agreement with Meta to deliver 1.1 gigawatts from its Clinton Clean Energy Center in Illinois, starting in 2027. This isn't an ordinary contract, but rather a lifeline for a plant that was on the verge of closure when its zero-emissions credits expire. The deal, which also boosts Clinton's output by 30 megawatts, underscores CEG's ability to secure tech giants. Microsoft is already on board with a Three Mile Island restart. What makes CEG a one-of-a-kind destination for tech titans is its scale. With 94 reactors across the U.S., they're a one-stop shop for tech companies chasing net-zero goals while powering AI workloads. Their shift away from co-located data center plans to grid-connected projects, as noted in last month's update, indicates they're adapting to regulatory hurdles, such as FERC's rejection of expanded co-location deals. Moreover, the Meta deal demonstrates that CEG can pivot and still secure massive contracts. Sure, their stock's run-up makes it a bit daunting to be bullish on today, but with AI data centers projected to eat up 9% of U.S. electricity by 2030, CEG's infrastructure could be a cash cow in waiting. Is Constellation Energy Stock a Good Buy? Currently, most analysts are bullish on CEG stock. The stock features a Moderate Buy consensus rating based on eight Buy and five Hold ratings assigned in the past three months. No analyst rates the stock a sell. CEG's average stock price target of $319.45 implies ~10% upside over the next twelve months, despite shares having already rallied 30% year-to-date. Oklo (NYSE:OKLO) | The Startup with a Nuclear Vision Oklo, the newest entrant in the nuclear energy space and backed by OpenAI's Sam Altman, is focused on small modular reactors (SMRs)—compact, flexible power plants ideally suited for data centers. The company's stock has surged 440% over the past year, fueled by high-profile agreements such as its December deal with Switch to supply 12 gigawatts through 2044. Additionally, a recent memorandum with Korea Hydro & Nuclear Power to advance their 75-megawatt Aurora Powerhouse fast reactor has further accelerated momentum. While Oklo remains pre-revenue and is currently investing heavily in technology development, with commercial operations still several years away, its 'power-as-a-service' model—where the company builds, owns, and operates reactors—could revolutionize how data centers secure reliable power without significant upfront costs. Recent executive orders easing nuclear regulations have also provided a regulatory boost. However, significant risks remain, including ongoing R&D challenges and the high costs of scaling production. For investors who believe SMRs are key to powering the AI revolution, Oklo's long-term vision holds considerable promise. Is OKLO Stock a Good Buy? On Wall Street, Oklo stock carries a Moderate Buy consensus rating based on six Buy and three Hold ratings. No analyst rates the stock a sell. Oklo's average stock price target of $54.40 implies about 15% upside potential over the next twelve months. NuScale Power (NYSE:SMR) | The SMR Pioneer with a Head Start NuScale Power holds a distinct advantage as the first U.S. company to secure Nuclear Regulatory Commission (NRC) approval for its small modular reactor (SMR) design—the 77-megawatt VOYGR module. But the company isn't resting on this milestone; it is rapidly advancing a 2-gigawatt agreement with Standard Power to supply data centers in Pennsylvania and Ohio. Despite posting losses as it invests in expanding its supply chain, NuScale's Q1 report revealed an impressive 857% year-over-year revenue increase. The recent Meta-Constellation Energy deal also boosted NuScale's stock, signaling strong market confidence in its role in nuclear's resurgence. What distinguishes NuScale from its competitors is its pragmatic approach. Its light-water reactor technology is more established and less experimental than Oklo's fast reactors, making it a safer candidate for near-term deployment. However, supply chain constraints and complex project coordination remain significant challenges that could delay progress. Still, with tech giants like Google and Amazon entering SMR agreements, NuScale's first-mover advantage positions it well to meet growing energy demands. Its factory-built, modular design aligns perfectly with data centers' requirements for scalable, reliable power. Is NuScale Power a Good Stock to Buy? NuScale Power is currently covered by eight Wall Street analysts, who generally hold a bullish outlook. The stock carries a Moderate Buy consensus rating, reflecting five Buy ratings, two Holds, and one Sell over the past three months. However, SMR's average price target of $27.42 suggests approximately 12% downside potential over the next twelve months. Why Nuclear Energy Is the Smart Bet for AI's Future The resurgence of the nuclear sector is no coincidence, as the soaring energy demands of AI are reshaping the industry landscape. Constellation Energy (CEG) brings scale, Oklo (OKLO) leads with innovation, and NuScale Power (SMR) holds a regulatory advantage. Each faces its own challenges—CEG's stock trades at a premium valuation, Oklo is still managing significant cash burn, and NuScale navigates operational risks. Nevertheless, the potential upside is substantial. With tech giants committing to multi-gigawatt agreements and nuclear capacity projected to quadruple by 2050, these companies are at the forefront of a transformative energy revolution and merit close attention.
Yahoo
2 hours ago
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An OpenAI exec says she was diagnosed with breast cancer and that ChatGPT has helped her navigate it
Kate Rouch, OpenAI's chief marketing officer, said she was diagnosed with breast cancer. Rouch said she is expected to make a full recovery and urged other women to prioritize their health. She said she leaned on OpenAI's ChatGPT to navigate her treatment. Kate Rouch, the chief marketing officer at OpenAI, shared on Friday that she was diagnosed with invasive breast cancer weeks after assuming the role, which she called her "dream job," in December. In a thread posted on X, Rouch said she was sharing her story to help other women, adding, "We can't control what happens to us--but we can choose how we face it. My biggest lesson: no one fights alone." Prior to joining OpenAI as the company's first CMO, Rouch was CMO at Coinbase and, before that, spent over a decade at Meta, including as vice president, global head of brand and product marketing. Rouch said she started treatment right around the Super Bowl in February, when OpenAI aired its first-ever ad, and that she has since gone through 13 rounds of chemotherapy while leading OpenAI's marketing team. She wrote that she is expected to make a full recovery. "It has been the hardest season of life — for me, for my husband, and for our two young children," Rouch said, adding she has been supported by OpenAI "at every step." "Silicon Valley can be brutal and transactional. And yet — I've never felt more held," she said, adding that "people showed up in incredible and unexpected ways." Rouch also said OpenAI's ChatGPT has helped her navigate her diagnosis and treatment, including by explaining cancer in a way that is age-appropriate for her kids, helping her manage the side effects of chemo, and creating custom meditations. "Experiencing our work as a patient has made OpenAI's mission feel more personal and important," she said. Rouch said she was sharing her story to encourage other women to "prioritize their health over the demands of families and jobs." "A routine exam saved my life. It could save yours, too," she said. Business Insider reached out to OpenAI for comment. Kevin Weil, the chief product officer at OpenAI, expressed support for Rouch in a reply to her thread. "We love you @kate_rouch!" he wrote. "Proud of you for telling your story and for being so full of fight." Read the original article on Business Insider
