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OpenAI races toward fourth-quarter IPO as AI companies face profitability pressure

OpenAI is preparing for a fourth-quarter 2026 initial public offering, hiring finance executives and holding talks with Wall Street banks. Valued at $500 billion but unprofitable until 2030, the company faces mounting questions about whether AI companies can justify their massive infrastructure costs. The move comes as rival Anthropic projects breaking even two years earlier.

Business2 sources

OpenAI races toward fourth-quarter IPO as AI companies face profitability pressure

Business2 sources

SpaceX acquires xAI as Elon Musk bets big on 1 million satellite constellation for orbital AI

Elon Musk has merged SpaceX with xAI in a bold move to deploy up to 1 million satellites as orbital data centers. The SpaceX xAI merger creates a $1.25 trillion entity aimed at solving AI's growing energy demands by harnessing solar power in space. The plan marks a significant bet on space-based computing infrastructure.

Technology102 sources

SpaceX acquires xAI as Elon Musk bets big on 1 million satellite constellation for orbital AI

Technology102 sources

C3.AI in merger talks with Automation Anywhere as startup eyes public market entry

Enterprise artificial intelligence software provider C3.AI is negotiating a merger with privately held startup Automation Anywhere, according to The Information. If the deal materializes, Automation Anywhere would acquire C3.AI and go public as a result, marking a significant consolidation in the enterprise AI software market.

Business2 sources

C3.AI in merger talks with Automation Anywhere as startup eyes public market entry

Business2 sources

Anthropic doubles funding target to $20B as enterprise AI revenue surges toward $18B in 2026

Anthropic has doubled its latest venture capital funding target from $10 billion to $20 billion at a $350 billion valuation, driven by booming investor demand. The AI company behind Claude large language models is projecting $18 billion in revenue for 2026—a 180% jump fueled by enterprise customers. With 85% of revenue now coming from corporate contracts, Anthropic is positioning itself as a formidable OpenAI competitor in the enterprise AI adoption race.

Business8 sources

Anthropic doubles funding target to $20B as enterprise AI revenue surges toward $18B in 2026

Business8 sources

SoftBank pauses $50 billion Switch acquisition, throwing Stargate AI infrastructure plans into limbo

SoftBank has halted talks to acquire U.S. data center operator Switch for $50 billion after months of negotiations, dealing a blow to founder Masayoshi Son's ambitious Stargate project. The company now faces the challenge of securing critical AI infrastructure through alternative partnerships while managing mounting financial pressure and regulatory concerns over foreign ownership of strategic U.S. assets.

Business4 sources

SoftBank pauses $50 billion Switch acquisition, throwing Stargate AI infrastructure plans into limbo

Business4 sources

Alibaba plans IPO for chip unit T-Head to bankroll $53B AI infrastructure push

Alibaba is preparing to list its AI chipmaking unit T-Head through an initial public offering, tapping surging investor demand for companies competing in the AI accelerator market. The move follows CEO Eddie Wu's pledge of over $53 billion toward AI infrastructure investments. T-Head will first be restructured with partial employee ownership before the IPO, though timing remains unclear.

Business5 sources

Alibaba plans IPO for chip unit T-Head to bankroll $53B AI infrastructure push

Business5 sources

Elon Musk races to take SpaceX public by July to fund orbital AI data centers in space

Elon Musk is reportedly preparing a SpaceX IPO by July to raise billions for AI data centers in space, marking a dramatic shift from his long-held position against going public before reaching Mars. The move aims to help xAI compete with OpenAI and Google while addressing the massive power demands of artificial intelligence infrastructure.

Business4 sources

Elon Musk races to take SpaceX public by July to fund orbital AI data centers in space

Business4 sources

OpenAI strikes $10 billion AI chip deal with Cerebras to power faster ChatGPT responses

OpenAI has signed a multi-year agreement with AI chipmaker Cerebras worth over $10 billion to deliver 750 megawatts of computing power through 2028. The deal aims to accelerate ChatGPT's response times and support real-time AI applications, while reducing OpenAI's reliance on Nvidia's GPU-based systems. Cerebras will build and lease dedicated datacenters featuring its wafer-scale accelerators.

Technology10 sources

OpenAI strikes $10 billion AI chip deal with Cerebras to power faster ChatGPT responses

Technology10 sources

MiniMax surges 90% in Hong Kong debut after $619M IPO, beating rival Zhipu AI

Chinese generative AI startup MiniMax soared as much as 90% on its first trading day in Hong Kong after raising $619 million. The Alibaba-backed company outperformed rival Zhipu AI, which rose just 13% a day earlier. Institutional investors including Baillie Gifford and GIC bid over 70 times for available shares, signaling strong demand for China's AI sector despite the company's $186 million adjusted loss.

Business11 sources

MiniMax surges 90% in Hong Kong debut after $619M IPO, beating rival Zhipu AI

Business11 sources

Anthropic seeks $10 billion funding at $350 billion valuation, nearly doubling in four months

The Claude chatbot maker is in talks to raise $10 billion led by Coatue Management and Singapore's GIC, nearly doubling its valuation from $183 billion just four months ago. The move comes as Anthropic prepares for a potential IPO while competing with OpenAI, which recently held talks at a $750 billion valuation.

Business10 sources

Anthropic seeks $10 billion funding at $350 billion valuation, nearly doubling in four months

Business10 sources

xFusion hires Citic Securities for IPO as China's AI server market heats up

xFusion, China's leading AI server provider, has hired Citic Securities to prepare for an initial public offering. The former Huawei subsidiary recorded sales exceeding $5.72 billion in 2024 and joins a wave of Chinese AI chipmakers tapping into investor enthusiasm for AI companies amid U.S. technology restrictions.

Business2 sources

xFusion hires Citic Securities for IPO as China's AI server market heats up

Business2 sources

Investors warn AI bubble poses major economic risk as inflation fears and unsustainable spending mount

Global investors are sounding alarms about an AI bubble threatening markets in 2026, as massive investments in artificial intelligence drive inflation concerns. With $400 billion spent in 2025 and data center costs spiraling, money managers question whether AI's inflated valuations can sustain themselves amid rising chip and energy costs.

Business6 sources

Investors warn AI bubble poses major economic risk as inflation fears and unsustainable spending mount

Business6 sources

Zhipu AI becomes first China AI tiger to go public, vows to export brutal price war globally

Beijing-based Zhipu AI raised $558 million in its Hong Kong IPO, becoming the first major Chinese generative AI startup to go public. Despite reporting just $27 million in sales and deepening losses, the company's co-founder predicts US AI developers will face the same price-based competition that has forced Chinese firms to forgo profits, with Zhipu charging one-seventh the cost of rivals like Anthropic.

Business10 sources

Zhipu AI becomes first China AI tiger to go public, vows to export brutal price war globally

Business10 sources

Baidu files for Kunlunxin spin-off in Hong Kong as China's AI chip race intensifies

Baidu has confidentially filed for a Hong Kong listing of Kunlunxin, its AI chip unit valued at $3 billion. The move comes as Chinese chipmakers race to secure funding amid Beijing's push for semiconductor self-sufficiency and escalating U.S.-China tech tensions. Kunlunxin designs powerful AI accelerators essential for data centers, positioning itself alongside Huawei and Cambricon as China seeks alternatives to Nvidia chips.

Business9 sources

Baidu files for Kunlunxin spin-off in Hong Kong as China's AI chip race intensifies

Business9 sources

MiniMax prices Hong Kong IPO at top as investor interest in Chinese AI startups surges

Shanghai-based MiniMax is set to raise at least $538 million in its Hong Kong debut, pricing shares at the top of the range amid strong demand from sovereign wealth funds and global investors. The Alibaba-backed startup becomes one of the first Chinese generative AI firms to go public, challenging US rivals like OpenAI.

Startups6 sources

MiniMax prices Hong Kong IPO at top as investor interest in Chinese AI startups surges

Startups6 sources

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