Miles Kruppa

1 week ago | theinformation.com | Miles Kruppa

The OpenAI deal that values Jony Ive’s artificial intelligence startup at $6.5 billion stands to reward investors in the stealth company handsomely—at least on paper. After becoming one of OpenAI’s biggest outside shareholders, Thrive Capital last year invested about $30 million in the device startup, called Io Products, according to a person familiar with the deal.

2 weeks ago | theinformation.com | Miles Kruppa

Elad Gil, the prolific investor known for placing early bets on Airbnb and Stripe, says he’s been backing ventures buying mature businesses and incorporating artificial intelligence into their work. Now we know the identity of one of them. Gil recently led a funding round in Enam Co., a one-year-old AI startup focusing on worker productivity, according to a person familiar with the deal. The investment valued it at more than $300 million, said that person and another person.

2 weeks ago | theinformation.com | Miles Kruppa

Source: The InformationCoreweave, the debt-laden data center builder, sold $2 billion in high-yield bonds, $500 million more than expected, a sign investors will continue to fund the costly buildout of artificial intelligence computing power. The funds will be used partly to repay Coreweave’s outstanding debt, the company said Wednesday. Coreweave carried about $8 billion in debt when it went public earlier this year. Its junk bonds carry an interest rate of 9.25% and mature in 2030.

2 weeks ago | theinformation.com | Miles Kruppa

Source: The InformationUnited Arab Emirates-backed investment firm MGX and France’s sovereign wealth fund are building a 1.4 gigawatt artificial intelligence data center near Paris they said will be the largest in Europe. MGX, France’s sovereign-wealth fund Bpifrance, Paris-based AI company Mistral and Nvidia formed a joint venture to build the new data center, according to a statement Monday. Construction was expected to begin in the second half of next year.

3 weeks ago | theinformation.com | Miles Kruppa

Saudi Arabia, long viewed as a fountain of cash for the tech industry, has flipped the script, getting U.S. companies to fund its build-out of artificial intelligence. President Donald Trump announced hundreds of billions of dollars in deals when he visited Riyadh this week. The announcements touted investments in the U.S., but in many cases the Saudi money will go to U.S. companies to fund projects inside Saudi Arabia.