Tags: MGX

OpenAI sold $6.6 billion worth of shares held by current and former employees, a transaction that lifted its valuation to $500 billion, the highest ever for a privately held firm. The sale, which involved investors such as SoftBank, Dragoneer Investment Group, Thrive Capital, MGX and T. Rowe Price, was not a traditional funding round because the proceeds went directly to shareholders. The move comes amid heightened competition with Meta’s AI lab, recent large‑scale funding rounds, and strategic partnerships with Oracle, Nvidia and Microsoft, while the company continues to roll out new products like the Sora 2 video model. Ler mais

President Donald Trump signed an executive order that formalizes a plan to transfer TikTok's U.S. operations to an American‑controlled entity. The deal will give a coalition of U.S. investors—including Oracle, Silver Lake, MGX, Michael Dell and Rupert Murdoch—a majority stake, while ByteDance retains a 19.9% share. Valued at roughly $14 billion, the new structure keeps Oracle in charge of the app’s algorithm and data security. Lawmakers raised concerns about algorithm control, but Vice President JD Vance and the president emphasized that the arrangement meets legal requirements and will treat all content fairly. Ler mais