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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

Octopus Energy spins off AI unit Kraken Technologies at $8.65 billion, eyeing public listing

British renewable energy company Octopus Energy is spinning off its AI technology unit Kraken Technologies as a standalone entity valued at $8.65 billion. The separation follows a $1 billion funding round led by D1 Capital Partners and sets the stage for a potential public listing by mid-2026, with London and the US being considered as possible listing locations.

Business4 sources

Octopus Energy spins off AI unit Kraken Technologies at $8.65 billion, eyeing public listing

Business4 sources

Chinese AI chipmakers Biren and Iluvatar race to Hong Kong IPO amid chip funding frenzy

Shanghai-based Biren has kicked off bookbuilding for a Hong Kong IPO targeting up to $624 million, becoming the first mainland GPU developer to list in the city. Rival Iluvatar CoreX followed days later with its own filing, riding a wave of investor enthusiasm after Moore Threads and MetaX saw their shares surge over 400% and 693% respectively on debut. But widening losses and U.S. trade restrictions cast shadows over the sector's path to profitability.

Business2 sources

Chinese AI chipmakers Biren and Iluvatar race to Hong Kong IPO amid chip funding frenzy

Business2 sources

MetaX soars 700% as Chinese AI chips challenge Nvidia's dominance amid U.S. export restrictions

Chinese chipmaker MetaX Integrated Circuits jumped 700% in its Shanghai market debut, raising $600 million. The surge follows Moore Threads' 400% IPO pop two weeks earlier, as China accelerates efforts to build self-sufficient semiconductor capabilities and reduce reliance on Nvidia amid escalating U.S. tech restrictions.

Business4 sources

MetaX soars 700% as Chinese AI chips challenge Nvidia's dominance amid U.S. export restrictions

Business4 sources

Harness hits $5.5 billion valuation with $240 million raise to automate AI's after-code gap

AI DevOps platform Harness secured $240 million in Series E funding led by Goldman Sachs, reaching a $5.5 billion valuation. Founded by AppDynamics creator Jyoti Bansal, the company targets the after-code software development phase—testing, security, and deployment—that consumes 70% of engineering time but remains largely manual despite AI's acceleration of code production.

Startups4 sources

Harness hits $5.5 billion valuation with $240 million raise to automate AI's after-code gap

Startups4 sources

CoreWeave Stock Performance Plunges 56% as CEO Defends AI Infrastructure Strategy Amid Bubble Fears

CoreWeave has lost 56% of its stock value since its March IPO, with shares dropping from over $150 to around $90. CEO Michael Intrator defends the company's debt-heavy expansion strategy and circular business deals, calling them necessary for disrupting traditional cloud providers. The AI cloud infrastructure provider faces scrutiny over high-interest debt and delays in data center construction.

Business3 sources

CoreWeave Stock Performance Plunges 56% as CEO Defends AI Infrastructure Strategy Amid Bubble Fears

Business3 sources

Moore Threads surges over 500% in blockbuster Shanghai IPO as China accelerates chip independence

Moore Threads, dubbed 'China's Nvidia,' skyrocketed over 500% in its Shanghai trading debut after raising $1.1 billion. Founded by ex-Nvidia executive James Zhang, the Chinese chipmaker's explosive market entry reflects Beijing's aggressive push for semiconductor independence amid tightening US export controls on advanced AI chips.

Business6 sources

Moore Threads surges over 500% in blockbuster Shanghai IPO as China accelerates chip independence

Business6 sources

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