Streetbeat News

Acquisitions Mergers

AAPL

AMZN

GOOG

META

MSFT

TSM

Apple Inc. is reportedly developing its own AI chips for data centers, aiming to join tech giants like Amazon, Alphabet, Microsoft, and Meta in using custom semiconductors. The project, named ACDC, is in collaboration with Taiwan Semiconductor Manufacturing but faces uncertainty. Skepticism arises from a Bloomberg columnist, citing a similar project's cancellation in 2018. Apple's move is part of its broader strategy to advance in generative AI, including acquiring DarwinAI and potentially partnering with OpenAI for iPhone features.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 6:16 am

AAPL

AMZN

MSFT

Amazon.com Inc. (NASDAQ:AMZN) plans to invest $9 billion in Singapore to expand its cloud computing infrastructure, doubling its current investment in the region. This move is part of a broader trend among tech giants like Microsoft Corp. (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL) to increase their presence in Southeast Asia, diversifying away from China due to geopolitical tensions. The investment aims to meet the growing demand for cloud services and accelerate AI adoption. Amazon's after-hours trading showed a slight decrease following the announcement.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 5:22 am

CMCSA

DIS

Disney (NYSE:DIS) and Comcast (NASDAQ:CMCSA) are seeking a financial advisor to resolve a valuation dispute over Disney's 33% stake in Hulu. The disagreement stems from differing valuations by JPMorgan Chase and Morgan Stanley, with estimates at approximately $27.5 billion and over $40 billion, respectively. This step follows a 2019 deal after Disney's acquisition of 21st Century Fox's assets, giving Disney majority control over Hulu. The resolution of this dispute is crucial for finalizing Disney's acquisition of Comcast's stake in Hulu, announced in November 2023.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 2:48 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and SpaceX, discussed various topics at MI Global, including immigration, Starlink's impact on GDP, Mars colonization, the absence of AI in space exploration, and personal insights on joy and concerns. The conversation, held with Mike Milken of the Milken Institute, was live-streamed on X (formerly Twitter). Musk emphasized the importance of secure but expedited legal immigration, Starlink's potential to enhance global productivity, the goal of making life multi-planetary to safeguard civilization, and shared personal reflections on what brings him joy and keeps him up at night.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 1:51 am

CRLBF

CURLF

GTBIF

TCNNF

A report from Viridian Capital Advisors predicts a surge in M&A activity in the U.S. cannabis industry, particularly benefiting Tier 1 multi-state operators (MSOs) like Curaleaf Holdings, Green Thumb Industries, Trulieve Cannabis, and Cresco Labs. The report highlights a widening valuation gap between Tier 1 MSOs and smaller entities, alongside a differential in capital costs that favors larger MSOs. This environment is expected to lead to a period of consolidation, with equity increasingly used over cash for acquisitions due to the anticipation of Schedule 3 and sluggish banking reforms.

Portfolio Pulse from Nicolás Jose Rodriguez

May 06, 2024 | 11:42 pm

AIRE

ReAlpha Tech shares are trading higher following the completion of its acquisition of Naamche.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:12 pm

EUDA

EUDA Health Holdings has completed the acquisition of CK Health, paying with 10 million newly issued ordinary shares valued at $15 million. This strategic move aims to expand EUDA's healthcare services and market reach.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:10 pm

AIRE

reAlpha Tech has successfully completed the acquisition of Naamche, marking a significant expansion in its business operations.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:07 pm

FGF

Fundamental Global (FGF) shares are trading higher following the announcement of acquiring Strong/MDI Screen Systems through FG Acquisition Corp. for a $30 million valuation.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:59 pm

MPW

Medical Properties Trust (MPW) has approved a $75M Debtor-In-Possession financing for Steward Health Care's restructuring. MPW has not committed to further funding and expects Steward to use the financing to maintain patient care and transition hospitals to new operators.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:55 pm