Goldman’s next king?

One thing to start: Elon Musk’s X has raised about $1bn in a new equity funding round that values the social media company at $44bn, bringing its valuation back in line with the price the billionaire paid in 2022. Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is … Read more

Starlink in the Pacific and Baidu’s PR headache

Hello everyone, this is Cissy from Hong Kong. Nearly three months after DeepSeek stunned Silicon Valley with its low AI inference costs, the start-up’s impact continues to grow in China, where it has become a source of national pride. Its technology is now ubiquitous, integrated into government agencies, cars, hospitals — even household appliances like … Read more

Elon Musk’s xAI and Nvidia join BlackRock and Microsoft’s $30bn AI fund

Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. Elon Musk’s artificial intelligence company xAI and chipmaker Nvidia are becoming partners in a multibillion-dollar AI infrastructure fund backed by BlackRock, Microsoft and Abu Dhabi, as companies rush to build data centres and energy projects … Read more

Samsung promises to pursue deals in ‘do or die’ bid to revive growth

Samsung Electronics has promised angry shareholders it will pursue “meaningful achievements” in deals this year to revive growth after the South Korean tech giant suffered market share declines across all its core businesses in 2024. About 900 individual and institutional investors gathered at the company’s annual meeting in Suwon, south of Seoul, on Wednesday, unhappy … Read more