Profits at onshore-listed Chinese companies rose 25.7% in the three months to June, the fastest in nearly five years and heavily concentrated in AI-linked firms. The CSI 300 has fallen about 9% this quarter and the tech-heavy Star 50 has dropped 29%, a…
Nscale is in talks to raise up to $3.5B ahead of a US listing, including $1.5B of convertible notes led by Third Point and about $2B from Nvidia. It is briefing investors that its contracts total roughly $103B, most of the increase coming from a $45B A…
Moonshot AI is considering raising up to $5bn in a Hong Kong initial public offering as soon as this year, Bloomberg reported on Friday. Dong Cao, Julia Fioretti, Pei Li and Luz Ding sourced the account to people familiar with the matter, who asked not…
American philanthropy is about to absorb something in the region of $40bn a year in new annual spending from AI wealth, Coefficient Giving chief executive Alexander Berger told Semafor editor-in-chief Ben Smith in an interview published on Thursday. Th…
Europe is getting a factory for quantum chips rather than another quantum computer. Quantum Foundry Copenhagen, owned by the Novo Nordisk Foundation, is building a 5,300-square-metre facility in the Danish capital that is due to open in 2027 and will o…
T-Mobile US chief executive Srini Gopalan declined to comment on a possible merger with parent Deutsche Telekom, days after Elliott built a stake to oppose it. A full combination would put the holding company outside Germany and cut the German state an…
ByteDance has landed a $29.6bn loan, the second-largest in Asia this year and roughly three times what the TikTok owner borrowed offshore in 2024. Banks put in more than $30bn of orders for a facility that started life at $20bn. The terms were first re…
Wonderful has closed a $550M Series C at a $5B valuation led by Insight Partners with Salesforce participating, eighteen months after being founded and six months after a $150M round at $2B. Its press release is datelined Amsterdam while Israeli techno…
Donald Trump Jr is a partner at the fund leading Polymarket’s new funding round. He is also a strategic adviser to Kalshi, Polymarket’s principal competitor. 1789 Capital is putting about $300m into a round of roughly $1bn that values Polymarket at $21…
Tim Draper is selling his island in Lake Tanganyika for $7.9M or best offer, announcing it himself on X and inviting offers directly by email. The ECB reported this month that EU venture capital funds hold around 150B euros against roughly 930B euros i…