The FinTech Hub
Source: Live Mint Oyo Hotels has delayed its initial public offering (IPO) plans for the third time amid opposition from its largest shareholder, SoftBank Group Corp., and continued market volatility, Bloomberg News reported on Friday. The company first filed for the IPO in 2021, seeking a valuation of up to $12 billion. In March 2023,…
Source: Live Mint SoftBank Group Corp. swung to losses for the December quarter due to a drop in the value of the Vision Fund’s public holdings, boding ill for founder Masayoshi Son who has to raise $500 billion for the Stargate artificial-intelligence project. The Tokyo-based company reported a net loss of ¥369.2 billion ($2.4 billion)…
Source: Live Mint What is the Stargate Project? Announced on Tuesday, it is a new company that intends to invest $500 billion over the next four years to build new artificial intelligence (AI)-focused data centres across the US. The joint venture among OpenAI, Oracle Corp., SoftBank Group Corp., and MGX, which will begin deploying $100…
