PIF

EV startup Lucid (LCID) revealed it is raising roughly $3 billion through a public stock sale and new investment from its majority stockholder, Saudi Arabia’s Public Investment Fund (PIF). Lucid raises $3 billion via stock sale Lucid, like most EV startups, is struggling with rising input costs as it works to ramp production. To make matters worse, falling valuations are making it harder to access cheap funding. The EV startup produced 2,314 Lucid Air models in the first three months of…

Saudi Arabia’s Public Investment Fund has deepened its bet on videogames by taking a 5% stake, worth about $3 billion, in Japan’s Nintendo In a Japanese regulatory filing, PIF said it held just over 5% of Nintendo as of March 31. It said the stake was purely an investment, suggesting it didn’t intend to try to influence the company’s strategy. Saudi Arabia’s Public Investment Fund has deepened its bet on videogames by taking a 5% stake, worth about $3 billion, in Japan’s NintendoIn a Japanese regulatory filing, PIF…