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...
Saudi luxury real estate developer Dar Global is looking to fund as much as 70% of its latest project—the Trump International Hotel in the Maldives—by selling blockchain-based investment tokens directly to U.S. retail investors, CEO Ziad El Chaar told Reuters in London. The London-listed company is one of The Trump Organization’s most prominent international partners,...
n one of the most consequential tie-ups in the AI race, Microsoft and Nvidia announced plans to invest in Anthropic, alongside a massive $30 billion commitment by the Claude maker to run its AI workloads on Microsoft Azure. The deal cements deeper strategic alliances across the most powerful players in artificial intelligence. A multi-billion dollar...