Opinion: Money Costs 5% Now, and the Big Checks Keep Coming
On Tuesday the U.S. government paid 5% to borrow for 10 years. On the same day a five-year-old AI company asked public investors to value it at as much as $1.4 trillion. Both things can be true, and the gap between them says a lot about where capital is going. Start with the price of […]
Akamai Sells $2.2 Billion of 1% Convertible Notes
Akamai Technologies Inc. borrowed $2.2 billion at 1% by selling investors a piece of its stock’s upside, the latest technology company to tap the convertible-bond market to pay for computing capacity. The Cambridge, Mass., content-delivery and security company priced $1.1 billion of convertible senior notes due 2028 and $1.1 billion due 2031, both carrying a […]
Treasury Pays 5% to Sell $42 Billion of 10-Year Notes
The U.S. government will pay 5% a year for the next decade on its newest 10-year debt. The Treasury Department sold $42 billion of 10-year notes on Tuesday at a high yield of 5.02%, setting the coupon at 5%, in an auction that drew softer demand on the same day a hot inflation report jolted […]
Fox Sells $8.4 Billion of Bonds to Repay Roku Bridge Loan
Fox Corp. sold $8.4 billion of investment-grade bonds on Tuesday to pay off the bridge loan it used to close its purchase of Roku Inc. The Murdoch-controlled media company split the sale into seven maturities, according to its pricing term sheet. The biggest pieces were $1.75 billion of 6.4% notes due 2036, priced 145 basis […]
Archrock to Buy Microgrid Firm HiVolt for Up to $450 Million
Archrock Inc., which rents out the compressors that move natural gas through Permian Basin pipelines, agreed to buy HiVolt Energy Holdings LLC for up to $450 million in cash, betting that the oil patch’s next bottleneck is electricity. Houston-based Archrock will pay $415 million at closing, subject to adjustments, plus up to $35 million in […]
Oura to Buy AI Primary-Care Firm Counsel Health for $625 Million
Oura, the Finnish-born maker of the Oura Ring, agreed to buy Counsel Health for $625 million in cash, moving from tracking its members’ health toward treating them. Counsel combines a medical chat assistant with its own board-certified physicians, who can step into a conversation to diagnose, prescribe and refer. Its service has been available inside […]
Diamondback, KKR Buy Permian Water Firm Stake for $2.1 Billion
Diamondback Energy Inc. and KKR & Co. agreed to buy out the majority owner of Deep Blue Midland Basin LLC, the water-handling network that serves Diamondback’s core Permian Basin drilling, in a cash deal valued at about $2.1 billion. The two will acquire Five Point Infrastructure’s 70% stake, the companies said on Tuesday. Diamondback, the […]
Mercor Raises $750 Million at $20 Billion Valuation
Mercor, the San Francisco startup that pays human experts to train and grade artificial-intelligence models, raised $750 million in a Series D round that values it at $20 billion, double its price tag of a year ago. The company didn’t name a lead investor. Nvidia, Salesforce and Zoom Communications joined as corporate backers, and earlier […]
Anthropic Sets IPO Range at $70 to $78, Launches Roadshow
Anthropic PBC put a price on the largest artificial-intelligence listing yet. The Claude developer said on Tuesday it will offer 825 million Class A shares at $70 to $78 apiece and launched the roadshow for its initial public offering, a day after a draft of the terms circulated among banks and was withdrawn. At the […]
Special Report: What Investors Are Buying in Anthropic’s IPO
SPECIAL REPORT Anthropic PBC is about to ask public investors for more money than almost any company has ever raised in a stock offering, and it is doing so with its terms still in flux. The maker of the Claude AI models was expected to begin formally marketing its initial public offering as soon as […]