Short-selling partnership Gotham City Research and General Industrial Partners (GIP) disclosed a short position in Iron Mountain (IRM) on Wednesday, sending the REIT’s shares down 5% as of 15:55 GMT. According to founders Daniel Yu and Cyrus de Weck, Iron Mountain’s leveraged investments in data centers significantly exceed what the firm can sustainably fund with...
U.S. and Saudi officials showcased billions in new investments and deepening financial ties during the U.S.–Saudi Investment Forum in Washington, held alongside Crown Prince Mohammed bin Salman’s high-profile visit. CEOs from Chevron, Qualcomm, Cisco, Pfizer, General Dynamics, as well as senior leaders from Google, IBM, Salesforce, Adobe, Boeing, Aramco, Halliburton, State Street, and Andreessen Horowitz...
Elon Musk’s AI startup xAI is in advanced discussions to raise $15 billion in new equity at a $230 billion valuation, the Wall Street Journal reported. The terms were reportedly shared with investors by Musk’s wealth manager Jared Birchall, though it’s unclear if the figure is pre- or post-money. xAI, responding to Reuters, issued an...
Brazil’s central bank has halted operations of mid-sized lender Banco Master and placed it into extrajudicial liquidation after a “severe liquidity crisis,” sharp financial deterioration, and “serious rule violations.” Police simultaneously arrested controlling shareholder Daniel Vorcaro, freezing 12.2 billion reais ($2.28B) in a fraud probe. Master grew rapidly via high-yield debt, marketed as covered by...
Saudi luxury developer Dar Global plans to fund up to 70% of its new Trump International Hotel in the Maldives by selling blockchain-based tokens to U.S. retail investors, CEO Ziad El Chaar told Reuters. The London-listed firm is one of The Trump Organization’s key global partners, with seven projects underway including an 80-storey Dubai tower,...
BlackRock’s flagship iShares Bitcoin Trust (IBIT) saw record outflows of $523 million on Tuesday — its largest single-day withdrawal since launch, according to Farside Investors. Bitcoin dropped below $90,000, its lowest level in seven months, extending a steep correction after hitting all-time highs in October. IBIT, the largest spot bitcoin ETF with $73B AUM, has...