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Abu Dhabi is setting up a technology investment firm targeting deals in artificial intelligence and semiconductors that could surpass $100 billion in assets under management in a few years, according to people familiar with the matter. The emirate on Monday unveiled the company called MGX, led by sovereign wealth fund Mubadala Investment Co. and AI firm G42 as foundational partners. Ahmed Yahia Al Idrissi, who’s chief executive officer of Mubadala’s direct investments platform, will serve as the new entity’s CEO,…

Choice Hotels said it is abandoning its roughly $7 billion takeover bid for rival Wyndham Hotels & Resorts after attempting to drive a deal through despite being rebuffed by Wyndham’s board. Choice Hotels said it is abandoning its roughly $7 billion takeover bid for rival Wyndham Hotels & Resorts after attempting to drive a deal through despite being rebuffed by Wyndham’s board. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of…

The social-media company said it is seeking to raise up to $748 million in its initial public offering, aiming for a valuation of up to $6.4 billion. The social-media company said it is seeking to raise up to $748 million in its initial public offering, aiming for a valuation of up to $6.4 billion. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified.…

Israeli digital brokerage eToro is seeking a valuation of more than $3.5 billion and considers the U.S. a potential destination to list its shares, the Financial Times reported on Sunday.The retail trading platform is weighing an initial public offering (IPO) in New York or London, CEO Yoni Assia told the newspaper, adding that a US listing would give the company access to a broader range of investors than a presence on the British market.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

A fund managed by US-based asset manager Baron Capital Group has marked up the fair value of food-delivery platform Swiggy to $12.1 billion, 13% higher than the $10.7 billion valuation at which the Bengaluru-based firm last raised funds in 2022.Baron Capital, which participated in the $700 million funding round in January 2022, has raised the fair value of its holding in Swiggy for the third time. The latest valuation was ascribed to Swiggy as of December 31, 2023, as per US Securities and Exchange Commission filings.…

Time is running out for small businesses and nonprofits that took out roughly one million government loans during the pandemic. Time is running out for small businesses and nonprofits that took out roughly one million government loans during the pandemic. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful…

US asset manager Baron Capital has hiked Swiggy's valuation for the third straight time to $12.1 billion. This and more in today's ETtech Top 5.Also in this letter:■ Sudha Murty nominated to Rajya Sabha■ ETtech Deals Digest■ Uncertainty over IT firms' H-1B plansBaron Capital marks up Swiggy valuation to $12.1 billion Swiggy CEO Sriharsha MajetyA fund managed by Baron Capital Group has marked up the fair value of food-delivery platform Swiggy to $12.1 billion, up 13% from the $10.7 billion valuation at…

LinkedIn on Thursday for the first time disclosed sales for its premium subscription business, saying the unit hit $1.7 billion in revenue in 2023 as the company sees an uptick in adoption of new artificial intelligence tools.LinkedIn, the social network aimed at business professionals, has not broken out its full financial performance since it was acquired by Microsoft in 2016. The company has previously disclosed that it made $15 billion in fiscal 2023, with $7 billion of that coming from hiring software that it sells…

Rivian generally had a good day yesterday, launching the R2 SUV along with the surprise R3 crossover and dune buggy-esque R3X that were met with general acclaim. Buried in that press release, however, was the news that the automaker is halting production of its $5 billion Georgia plant in order to save money.Instead of building the R2 in Georgia as originally planned, the company will start production of the electric SUV at its existing Normal, Illinois plant. "Beyond significantly reducing the amount of capital needed to…

Credit: Unsplash/CC0 Public Domain The CEO of Rivian Automotive announced Thursday that the electric truck maker is pausing construction of its $5 billion manufacturing plant in Georgia to speed production and save money.…