MiniMax IPO Pops 42% in Hong Kong Debut
MiniMax, a major Chinese AI developer, had a strong first day of trading in Hong Kong. The stock opened 42.3% above its offer price following a successful $618.6 million raise.
Category: Startups
M&A Lawyers Are Buried in Deals, Say 2026 Will Be Even Bigger
The mergers and acquisitions market just had a monster year, nearly matching the historic 2021 peak. Law firms at the top of the food chain are now bracing for an even busier 2026, fueled by interest rate cuts and a “flight to quality” among clients.
Anthropic’s $350 Billion Valuation Plan Is Absolutely Wild
The AI startup behind Claude is gearing up for a massive new funding round. If the reported numbers hold, it would create one of the most valuable private companies in the world overnight.
Anthropic’s $10B raise shows AI money is still flowing
The AI startup is gearing up for a massive new funding round led by Coatue and GIC. This comes as it prepares for a potential IPO and battles OpenAI for developer mindshare.
Ubisoft Shuts Down Unionized Studio Weeks After Vote
Ubisoft has shut down its Halifax studio, impacting 71 positions, just three weeks after 61 employees there voted to unionize. The company claims the closure is part of broader cost-cutting, unrelated to the union vote. Workers say they are “devastated” and are looking to fight for their rights.
Stanford Prof’s Bitcoin Startup Raises $15M From a16z Crypto
A Stanford professor’s blockchain startup, Babylon, has raised $15 million in venture funding. The company is building a protocol to let Bitcoin holders use their coins as collateral without giving up control.
South Africa Lets Rivals Team Up to Fight Soaring Power Bills
In a drastic move to save energy-intensive industries, South Africa has temporarily waived competition laws. This allows rival companies to band together to negotiate power purchases and share backup generators, aiming to prevent total collapse.
Baidu’s AI Chip Arm Kunlunxin Eyes $2 Billion Hong Kong IPO
Baidu’s AI chip subsidiary, Kunlunxin, is moving toward a public listing in Hong Kong. The IPO could raise as much as $2 billion, capitalizing on intense investor demand for Chinese AI and semiconductor stocks. This comes as Beijing pushes hard for technological self-reliance.
Discord Finally Files to Go Public. Is It Too Late?
According to a Reuters report, the popular chat platform Discord has confidentially filed paperwork for an initial public offering. This comes after years of speculation and a turbulent year for new stock listings.
How Dara Khosrowshahi’s Big Gamble Saved Uber
Dara Khosrowshahi left a stable CEO job at Expedia in 2017 to take over Uber during its worst crisis. His risky bet on the company’s core potential is now a case study in turnaround leadership.