Skip to main content

Australia Breaking News

Every story in this category, newest first.

Bloomberg

OpenAI Funding on Track to Top $100 Billion in Latest Round

OpenAI is close to finalizing the first phase of a new funding round that is likely to bring in more than $100 billion, according to people familiar with the matter, a record-breaking financing deal that would give the startup additional capital to build out its artificial intelligence tools.  As the ChatGPT maker prepares to spend trillions in infrastructure investment, the overall valuation of the company, including the eventual funding, could exceed $850 billion, according to some of the people. That's higher than the $830 billion initially expected. The company's pre-money value will remain $730 billion, said one person, all of whom asked not to be identified discussing private information. Bloomberg's Ed Ludlow joins to discuss with Paul Sweeney and Scarlet Fu.

Read more: OpenAI Funding on Track to Top $100 Billion in Latest Round
Bloomberg

NFL Hall of Famer Steve Young's PE Firm Collects $3.2 Billion for Fifth Fund

HGGC, the private equity firm led by Hall of Fame quarterback Steve Young, raised $3.2 billion for its fifth fund, exceeding its initial target amid a global scramble for dollars from skeptical investors. Young and co-founder Rich Lawson spoke to Bloomberg's Jason Kelly about the firm's new commitments from a range of pensions, endowments, family offices and sovereign funds.

Read more: NFL Hall of Famer Steve Young's PE Firm Collects $3.2 Billion for Fifth Fund
Bloomberg

Booking CEO Glenn Fogel on AI Disruption

Booking Holdings, the company behind Priceline and OpenTable, reported a strong quarter and announced a stock split. But shares came under pressure as investors weighed the threat of AI disruption. Chief Executive Officer Glenn Fogel joined Bloomberg Open Interest to explain how he is positioning the company to compete in the AI era and where he still sees momentum in global travel.

Read more: Booking CEO Glenn Fogel on AI Disruption
Bloomberg

Gold Rally Toward 5,000 Dollars Puts Focus on Producers

Gold prices climbing to $5,000 and above, with traders focused on the Fed's next move and ongoing geopolitical uncertainty. This renewed strength in the precious metal underscores the growing appeal of gold producers.  Neil Woodyer, Chair and CEO of Aris Mining joined Bloomberg Interest to talk about the miner's expansion plans.

Read more: Gold Rally Toward 5,000 Dollars Puts Focus on Producers