Alibaba Plans Hong Kong Spin-Off of Chip Unit T-Head
Hong Kong's exchange will let Alibaba spin off its chip subsidiary T-Head. The company has not said when the listing will happen or how large it will be.
IPOs & Deals
Google Takes Over Crusoe's Unfinished Wyoming Data Center
Crusoe has sold an unfinished data center campus in southeastern Wyoming to Google, which plans to invest $17 billion in the site. The price was not disclosed.
Palo Alto in Talks to Buy Clutch Security for $500M
Palo Alto Networks is reportedly negotiating to acquire Clutch Security, a startup that controls AI agents' access to company systems, for $500 million in cash plus milestone payments.
Marc Lore's Wonder Confidentially Files for an IPO
Wonder, the food platform founded by Marc Lore, has filed confidentially to go public. Share count and price range are not disclosed, and the company arrives with a long acquisition list.
Dropbox to Buy Tigris Data for $350M
Dropbox will buy cloud storage company Tigris Data for $350 million, apparently its largest acquisition. The purchase supports a new storage platform for businesses building AI agents.
EloElo Raises $80M With NBCUniversal Backing for Indian Microdramas
The company behind the Story TV app has closed an $80 million Series C. It plans to hire AI researchers and put a good chunk of its capital into original titles.