Battery storage just graduated to a “Core Infrastructure” asset class. Norway’s Sovereign Wealth Fund—the world’s largest investor with $2.2 trillion in assets—announced on Wednesday that it is actively seeking its first major investment in battery storage systems. After focusing on offshore wind and solar since 2021, the fund is pivoting to storage as a critical...
The world’s most feared investor just opened a new front in London. Elliott Management (AUM: ~$80B) has built a stake in the London Stock Exchange Group (LSEG), engaging with management to close the valuation gap with rivals. Unlike their typical “break-up” playbook, sources suggest Elliott is not seeking a sale or spin-off, but rather pushing...
The “bid-ask spread” in software just became unbridgeable. According to over a dozen top dealmakers, the violent rout in software stocks—the worst three-month performance since May 2002—is bringing M&A and IPO activity to a grinding halt. With the sector down ~25% from its October peak, volatility has made valuations unreliable, leaving buyers afraid to catch...
The race to deploy humanoids is heating up, but the valuations are wildly divergent. Apptronik, the Austin-based humanoid startup, has secured a $520 million Series A extension backed by industry titans Google, Mercedes-Benz, B Capital, and the Qatar Investment Authority. The round values the company at approximately $5 billion—a significant sum, yet a stark contrast...
The Brazilian IPO window is open, but the draft is chilly. Agibank (AGBK) successfully priced its U.S. initial public offering on Wednesday, raising $240 million by selling 20 million shares at $12.00 each. However, the deal reflects a cautious market: the company had to sharply reduce both its deal size and price range (originally $12-$13)...
David Ellison isn’t walking away. Paramount Skydance (PSKY) has enhanced its bid for Warner Bros. Discovery (WBD), attempting to disrupt Netflix’s rival $82.7 billion offer. While the headline price remains unchanged ($30/share or $108.4B total), Paramount is now offering significant “risk insurance” to sway shareholders worried about regulatory hurdles. 🍬 THE SWEETENERS: ⚔️ THE STRATEGIC...