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☆ Bain Capital values Chindata at nearly $3 bln in take-private offer
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

Bain Capital's proposal values each American depositary share of Chindata at $8, representing a premium of more than 27% to its last closing price. The private equity firm already owns a 42.2% stake in Chindata, according to Bain Capital. Data centers and cloud services have seen increased demand due to the widespread adoption of AI technologies. However, analysts expect enterprise customers to optimize their expenditure on cloud services. Chindata's services include designing and operating data centers in China, India and Southeast Asia.

Persons: Bain, Akash Sriram, Shounak Dasgupta Organizations: Chindata, Bain Capital, Bain Capital ., Thomson Locations: Chindata, China, India, Southeast Asia, Bengaluru

☆ FirstMark Capital's Rick Heitzmann weighs in on the risk and rewards of A.I.
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirstMark Capital's Rick Heitzmann weighs in on the risk and rewards of A.I. Rick Heitzmann, FirstMark Capital founder, joins 'Closing Bell' to discuss the risks and rewards of AI.

Persons: Rick Heitzmann Organizations: FirstMark Capital

☆ The decision to split Sequoia Capital into 3 entities puts to bed any questions of a power struggle at the VC powerhouse
▼ + stars: | 2023-06-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

VC powerhouse Sequoia Capital announced Tuesday that it is splitting into three entities. One of those entities, Sequoia China, known locally as HongShan, will operate as a distinct firm. The mighty Sequoia Capital is dropping branches. The decision puts to bed any question of a power struggle at one of Silicon Valley's most respected firms. And unlike some other global firms that had veto power over investments overseas, according to Bloomberg, Sequoia China had full autonomy to strike its own deals.

Persons: Roelof Botha, Neil Shen, Forbes, Alex Konrad, Doug Leone, Instagram, Bytedance, Botha, Shen, Julian Bek, Elon Musk's Organizations: Sequoia Capital, Sequoia, XV Partners, YouTube, Bloomberg, Shen, Sequoia China, Ventures, Lightspeed Venture Partners, Accel, Elon, Twitter, Fidelity Locations: Sequoia China, China, Europe, HongShan, India, Southeast Asia, Sequoia, Sequoia Capital China, Asia, Silicon Valley, London, FTX

☆ Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap - analysts
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

"Saudi Arabia has a track record of delivering on material cuts," RBC Capital's Helima Croft said in a note. "Hence, we would expect the full 1 million bpd unilateral cut to hit the market in July, nearly doubling the true physical reduction we have seen from the producer group since October." "With Saudi Arabia protecting oil prices from sliding too low by cutting production, we think oil markets are now more prone to a shortfall later this year," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "We think Brent futures will rise to $85/bbl by Q4 2023 even with a tepid demand recovery in China factored in." "Affording it the 200,000 bpd quota adjustment for 2024 seems to settle the issue of its OPEC membership for now."

Persons: Brent, Helima Croft, Vivek Dhar, Goldman Sachs, Daan Struyven, Callum Bruce, Daniel Hynes, Soni Kumari, RBC's Croft, Florence Tan, Sonali Paul Organizations: Saudi, Organization of, Petroleum, RBC, Commonwealth Bank of Australia, bbl, ANZ, U.S . Federal, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, China, Iran, Venezuela, OPEC, United Arab Emirates

☆ Chinese quants redouble AI bets amid ChatGPT frenzy
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File PhotoSHANGHAI/SINGAPORE, June 5 (Reuters) - Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot. His hedge fund already uses ChatGPT to better understand a company's fundamentals and avoid value traps, project earnings power, and identify investment opportunities and risks. A ChatGPT-like tool boosts quants' ability to process text-related data, said Feng Ji, chairman of Baiont Capital. Feng's hedge fund, backed by former Google China chief and AI veteran Kai-Fu Lee, has invested heavily in hardware to enhance computing power required for model-training. Regulators are looking for ways to tackle the impact of generative AI technology.

Persons: Thomas White, Steve Chen, Feng Ji, ChatGPT, Feng, Kai, Fu Lee, Feng's, Larry Cao, Cao, it's, Samuel Shen, Tom Westbrook, Himani Sarkar Organizations: Microsoft, Baiont, Google China, Flyer, Zhishan Investment, Wall, Regulators, HK, Baidu, CFA Institute, Thomson Locations: SHANGHAI, SINGAPORE, Shanghai, Beijing, Feng's Nanjing, China

☆ Russia's air attack repelled on approach to Kyiv, Ukraine says
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +1 min

KYIV, June 4 (Reuters) - Russia launched a wave of air attacks on Ukraine early on Sunday, with air defence systems repelling all missiles and drones on their approach to Kyiv, the capital's military officials said. "Air defence destroyed everything that was heading towards the city already at their distant approaches." Russia has repeatedly attacked Kyiv since May, chiefly at night, ahead of a long-expected Ukrainian counteroffensive to reclaim territory, in what Ukrainian officials say is an attempt to inflict psychological distress on civilians. Reuters witnesses reported hearing several blasts in the Kyiv region, but not in the city, from what sounded like air defence systems hitting targets. All of Ukraine was under air raid alerts for nearly three hours.

Persons: Serhiy Popko, Gleb Garanich, Lidia Kelly, Daniel Wallis, William Mallard Organizations: Reuters, Thomson Locations: Russia, Ukraine, Kyiv, Rih, Kropyvnitskyi, Sumy, Melbourne

☆ British home prices to slip but won't come crashing down, Reuters poll shows
▼ + stars: | 2023-06-02 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

[1/3] Partly finished houses are seen on a new housing development under construction in Liverpool, Britain June 2, 2023. Yes, prices will fall this year but by single digits," said Tony Williams at consultancy Building Value. From peak to trough home prices will fall 7.5%, the median in the poll showed. "Persistent core inflation and wage pressures will prevent the Bank of England from cutting interest rates until 2024, which means mortgage rates won't fall any further until next year," said Andrew Wishart at Capital Economics. (For other stories from the Reuters quarterly housing market polls:)Reporting by Jonathan Cable; polling by Mumal Rathore and Anitta Sunil; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Tony Williams, Andrew Wishart, BoE, Michael McGill, Barratt, Russell Quirk, Jonathan Cable, Mumal Rathore, Anitta Sunil, Kim Coghill Organizations: REUTERS, Bank of England, Capital Economics, Nationwide, Thomson Locations: Liverpool, Britain, Britain's, London

☆ Ukraine says it downed 36 Russian missiles and drones
▼ + stars: | 2023-06-02 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

KYIV, June 2 (Reuters) - Ukrainian forces in Kyiv said on Friday they shot down 36 Russian missiles and drones in and around the capital overnight, with two people injured by falling debris before authorities lifted air raid alerts across most of the country. An Air Force statement said its air defences had shot down 15 cruise missiles and 21 drones. It said a wave of drones had been launched late on Thursday, followed by a volley of cruise missiles as people slept at around 0300 local time. "The occupiers are not stopping their attempts to terrorise the Ukrainian capital with strike drones and missiles," it said. A view shows an office building damaged during Russian missile strikes, amid Russia's attack on Ukraine, in Kyiv, Ukraine June 1, 2023.

Persons: Vitali Klitschko, Volodymyr Zelenskiy, David Ljunggren, Tom Balmforth, Jacqueline Wong, Shri Navaratnam, Tom Hogue, Philippa Fletcher Organizations: An Air Force, Russian, Press, State Emergency Service of, REUTERS, Thomson Locations: Kyiv, Russian, Russia, Ukraine, State Emergency Service of Ukraine, Handout

HONG KONG/SINGAPORE, June 1 (Reuters) - Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations. The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May, while Sea itself is placing less priority on investing given market conditions, one of the people said. Singapore-based Sea launched Sea Capital in March 2021 with initial capital of $1 billion after buying Hong Kong's Composite Capital Management, founded by former Hillhouse Capital partner David Ma who became Sea's chief investment officer. One of the people said the decision to wind down Sea Capital was prompted by "less deal activity" resulting in fewer investment opportunities. Sea Capital had made at least three investments, including in 2021 into collapsed cryptocurrency exchange FTX.

Persons: David Ma, Ma, FTX, Kane Wu, Fanny Potkin, Sumeet Chatterjee, Christopher Cushing Organizations: Capital, Hong Kong's, Capital Management, Hillhouse, Sea, U.S, Asia's, Thomson Locations: HONG KONG, SINGAPORE, Asia, Japan, Singapore, New York, Sea, India, Europe, Hong Kong

☆ Inflation is lower for blue-collar workers than white-collar, says Loop Capital's Anthony Chukumba
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is lower for blue-collar workers than white-collar, says Loop Capital's Anthony ChukumbaAnthony Chukumba, managing director at Loop Capital Markets, joins 'The Exchange' to discuss the sell-off in Dollar General, consumer spending patterns shifting, and the need for a Fed pivot.

Persons: Anthony Chukumba Anthony Chukumba Organizations: Loop, Dollar

☆ Edtech startup VC funding has slowed to a crawl. The number of deals done so far this year has dropped more than 50% year-over-year.
▼ + stars: | 2023-06-01 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

The number of new funding deals so far this year is less than last year's Q1 total. The trend is in line with the larger VC funding slowdown in 2023, with the exception of AI deals. That's more than a 50% drop in the number of deals and total deal value from Q1 2022, which had 161 edtech venture deals totaling about $1.3 billion. Reach Capital recently raised a $215 million fund to fund both early and later stage edtech startups. Amid dismal funding for startups this year, the one bright spot has been for AI startups with some generative AI startups raising rounds well over $100 million.

Persons: That's, Katelyn Donnelly, Andressen Horowitz, Kira, Avalanche's Donnelly, there's, Donnelly, Sosnik Organizations: edtech, Reach Locations: edtech

☆ Ukraine says Russian missiles kill two children in Kyiv
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

[1/6] A view of a residential building damaged in a Russian missile strike, amid Russia’s attack on Ukraine, in Kyiv, Ukraine June 1, 2023. REUTERS/Valentyn OgirenkoJune 1 (Reuters) - A Russian missile attack on Kyiv killed three people including two children and injured 14 on Thursday, officials in the Ukrainian capital said. Photographs posted on the city's website showed windows blown out in the clinic and in nearby apartment buildings. Air raid alerts in Kyiv and in most of eastern Ukraine were in effect for about an hour. Reporting by Gleb Garanich and Ron Popeski; Editing by William Mallard and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Valentyn, Vitali Klitschko, Klitschko, Gleb Garanich, Ron Popeski, William Mallard, Stephen Coates Organizations: REUTERS, Thomson Locations: Russian, Ukraine, Kyiv

HONG KONG/SINGAPORE, June 1 (Reuters) - Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations. The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May, while Sea itself is placing less priority on investing given market conditions, one of the people said. Singapore-based Sea launched Sea Capital in March 2021 with initial capital of $1 billion after buying Hong Kong's Composite Capital Management, founded by former Hillhouse Capital partner David Ma who became Sea Capital's chief investment officer. One of the people said the decision to wind down Sea Capital was prompted by "less deal activity" resulting in fewer investment opportunities. Sea Capital had made at least three investments, including in 2021 into collapsed cryptocurrency exchange FTX.

☆ Putin admits Moscow has room to 'work on' its air defenses after drone attacks hit civilian areas in the capital
▼ + stars: | 2023-05-31 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

He said this just after Russia's defense ministry reported that drone attacks had struck the capital. "Moscow's air defense system worked routinely, satisfactory," he told state media outlet TASS on Tuesday. At least eight drone attacks were launched at Moscow on Tuesday morning, with some drones striking residential areas and neighborhoods of Russia's elite, Russia's defense ministry said. Speaking to TASS, Putin promised to boost the number of air defense systems in the city. "In general, it's clear what needs to be done to increase the density of the capital's air defense systems.

Persons: Vladimir Putin, Putin, — Organizations: Service, Authorities, Kremlin Locations: Moscow, Russia, Ukraine

Summary Ukraine says Russia has stepped up air attacksOne person wounded in central district - mayorAll inbound missiles shot down - city officialsKYIV, May 29 (Reuters) - Explosions rang out across Kyiv on Monday as Russia launched its 16th air attack on the Ukrainian capital this month, hours after unleashing dozens of missiles and drones overnight. All the Russian missiles were shot down, but one person in the central Podil district was taken to hospital, authorities said. Ukraine shot down 11 cruise and ballistic missiles fired in the second of Monday's attacks on Kyiv, said Valeriy Zaluzhnyi, commander-in-chief of the armed forces. Firefighters work at a site of a private building damaged during a massive Russian air strike, amid Russia's attack on Ukraine, in Kyiv region, Ukraine May 29, 2023. Russia has increased the frequency of air attacks as Ukraine prepares to launch a counteroffensive.

SummarySummary Companies Tinubu succeeds former military leader BuhariNigeria divided after disputed electionAfrica's biggest economy faces headwindsInsecurity spread under BuhariABUJA, May 29 (Reuters) - Bola Tinubu was sworn in as Nigeria's president on Monday, facing mounting calls to improve economic and security conditions which many complain worsened under his predecessor Muhammadu Buhari. Tinubu, the former Lagos state governor and a member of Buhari's party, has promised to be a better steward of Africa's biggest economy and most populous nation. A raft of protectionist economic policies and foreign currency interventions have also spooked investors. Buhari defended his record on Sunday, saying new infrastructure such as roads, bridges and airports, and the protectionist policies have laid the foundations for future growth. Separatist and gang violence plague the southeast, and clashes between farmers and herders persist in hinterland states known as Nigeria's Middle Belt.

☆ Modi inaugurates new parliament building as part of New Delhi's makeover
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +3 min

[1/9] A view of India's new parliament building in New Delhi, India, May 27, 2023. Later, the prime minister entered parliament to loud cheers from guests, government officials and lawmakers, with many welcoming him with chant of "Modi, Modi". "To open a new parliament building without the opposition, it does not mean there is a democracy in the country. The triangular-shaped parliament complex is just across from the old, circular heritage building built by British architects Edwin Lutyens and Herbert Baker in 1927, two decades before India's independence. The old parliament will be converted into a museum.

☆ Growing needs for data centers will be a tailwind for Marvell, says Blue Line Capital's Bill Baruch
▼ + stars: | 2023-05-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrowing needs for data centers will be a tailwind for Marvell, says Blue Line Capital's Bill BaruchBill Baruch, Blue Line Capital founder, and Rob Sechan, managing partner at NewEdge Wealth, join 'Halftime Report' to discuss semiconductor investments, the Marvell Technology earnings report, and long-term market changes.

Persons: Bill Baruch Bill Baruch, Rob Sechan Organizations: Marvell, Blue Line Capital, NewEdge Wealth, Marvell Technology

☆ Watch CNBC's 'Halftime' traders discuss Loop Capital's rare Apple downgrade
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's 'Halftime' traders discuss Loop Capital's rare Apple downgradeJoe Terranova, Liz Young, Jason Snipe, Steve Weiss join 'Halftime Report' to discuss mega cap momentum, changing trends in consumer discretionary spending, and the Apple downgrade from Loop Capital.

☆ Dynatrace will become a leader in A.I. space, says BMO Capital's Keith Bachman
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDynatrace will become a leader in A.I. space, says BMO Capital's Keith BachmanBMO Capital Markets' Keith Bachman joins 'The Exchange' to discuss how Dynatrace uses A.I. to support a company's operations, and the case for Dynatrace's success in application security and business analytics.

☆ Welcome to the final phase of software eating the world. SaaS companies beware, you're on the menu this time.
▼ + stars: | 2023-05-22 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +7 min

This could disrupt the way software is created, distributed, and used, VCs and startup founders say. This outcome would flip the traditional software industry on its head, calling into question the value of SaaS companies in a world where everyday people can build software themselves. "This is the final chapter of software eating the world, where a bunch of people can create enterprise software within the enterprise." A 'healthy pressure' for traditional SaaS providersTo be sure, the death of the traditional software company still seems a long way off. However, even skeptics admit that the threat of generative AI to traditional SaaS will push established software companies to prove their worth.

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

☆ Floating tiny homes in London's financial district are on sale for $300,000. Take a look inside.
▼ + stars: | 2023-05-21 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Three unusual floating homes are on sale in Canary Wharf, east London. The houses are docked alongside houseboats and barges in a wharf near the financial district. Loading Something is loading. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThree unusual floating homes are up for sale in London's Canary Wharf, the UK capital's financial district. Real estate agents Hamptons told Insider said the 344 square foot properties are among several boat residences that have become popular in marinas across London.

☆ Mexican volcano near capital spews more ash, forcing school closures
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

A series of relatively small but powerful eruptions from the snowcapped Popocatepetl volcano prompted Puebla state officials to suspend both public and private school classes at all levels across 22 towns due to falling ash, according to officials. Images shared on social media in the picturesque colonial-era main plaza of the Puebla state capital showed many people wearing masks to protect themselves from ash in the air. Even though schools in the state capital remained open, officials recommended that locals avoid outdoor activities. Mexico's disaster prevention center Cenapred maintained its alert level for the volcano at yellow on Thursday, which indicates moderate risk. Popocatepetl is Mexico's second tallest volcano at 5,550 meters (18,209 ft) above sea level, and on clear days is a fixture of the Mexican capital's distant southern skyline.

Japan's insistence on continuing to rely on gas may delay reaching global climate change goals, especially as its energy companies reap large profits from their investments in the sector, climate activists say. "But I think Japanese companies will generally hesitate to be involved in gas projects in the future, especially those with long lead times. Japan's support for gas clashes with findings that new investments in gas, which is mainly composed of the greenhouse gas methane and produces CO2 emissions when burned for energy, would undermine climate goals. But, gas investments have been lucrative for Japan's energy companies resulting in record profits. But, Japan's stated intention to lower its carbon emissions may mean these gas investments carry some risk.

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