JHVEPhoto/iStock Editorial via Getty Images Universal Music Group ( UMGNF ) ( UNVGY ) repurchased 14.16M ordinary shares from various Pershing Square ( PS ) funds as part of the hedge fund's disposal of its entire stake in the company. The shares were acquired at €17.66 each for a total consideration of approximately €250M. The transaction was completed outside Universal Music's existing €500M sha...
JHVEPhoto/iStock Editorial via Getty Images Universal Music Group ( UMGNF ) ( UNVGY ) repurchased 14.16M ordinary shares from various Pershing Square ( PS ) funds as part of the hedge fund's disposal of its entire stake in the company. The shares were acquired at €17.66 each for a total consideration of approximately €250M. The transaction was completed outside Universal Music's existing €500M share buyback program but under a previously approved additional €500M share repurchase authorization. Universal Music said the repurchased shares will be used to satisfy obligations under its 2022 Global Equity Plan and related subplans, and/or to reduce its share capital. The repurchase follows reports that Bill Ackman's Pershing Square was seeking to sell approximately 80.6M Universal Music shares through Bank of America at a price range of €17.66 to €18.62 per share. The sale comes after the Dutch record label rejected Pershing Square's proposal to merge with Pershing Square SPARC Holdings and pursue a New York Stock Exchange listing. In April, Pershing Square offered €9.4B in cash, or €5.05 per share, plus 0.77 shares of the combined company for each Universal Music share, implying a value of €30.40 per share. However, UMG declined the offer as it “fundamentally and materially undervalues UMG and will not deliver superior value creations,” the company said in a statement last week. More on Universal Music Group, Pershing Square Inc. Pershing Square: Could Be An Early Berkshire Like Model Tracking Bill Ackman's Pershing Square 13F Portfolio - Q1 2026 Update Universal Music Group N.V. (UNVGY) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Ackman's Pershing Square to cut Universal Music Group stake Universal Music Group declines Pershing Square offer
Cerebras Systems ( CBRS ) plans to cooperate with a wide variety of suppliers of AI data center components, opening the way for further partnerships that mirror its agreement with Amazon.com ( AMZN ). The AI chipmaker is working with everyone apart from Nvidia ( NVDA ), Chief Executive Officer Andrew Feldman said on Wednesday at the Bloomberg Tech conference in San Francisco. “We’re engaged in the...
Cerebras Systems ( CBRS ) plans to cooperate with a wide variety of suppliers of AI data center components, opening the way for further partnerships that mirror its agreement with Amazon.com ( AMZN ). The AI chipmaker is working with everyone apart from Nvidia ( NVDA ), Chief Executive Officer Andrew Feldman said on Wednesday at the Bloomberg Tech conference in San Francisco. “We’re engaged in the process of using other people’s parts for part of the problem, and ours for another part of the problem, with all members of the community,” Feldman said. But not Nvidia, he said. “Everybody but them.” The partnership with Amazon ( AMZN ) will see Cerebras technology deployed alongside AWS’s internally developed chips in its data centers. Combined with a separate agreement to supply OpenAI ( OPENAI ), the collaboration helped propel the company to the forefront of the race to capitalize on surging investment in AI infrastructure. Those two agreements were announced in a period that Feldman described as a “pretty good 90-day run” leading up to Cerebras offering shares to the public. More on Cerebras Systems Inc., Nvidia 'Who Are You, And What Did You Do With Nvidia?' Wall Street Lunch: NVIDIA CEO Huang's $1T Marvell Call Triggers $40B Rally, Crushing Puts Nvidia: Wall Street's Ultimate Paradox In 2026 Most and least shorted tech stocks over $2B market cap as of May Nvidia, Arm, Marvell seen as 'key headliners' at Computex after announcements: BofA
Morning, I’m Chloé Meley from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Japan uses cute cartoons. Italy relies on catchy jingles. What can the UK do to sell government bonds to the masses ? The marketing might need some work, but the UK’s biggest financial institutions think turning ordinary Brits into bond buyers is a massive, untapped opportunit...
Morning, I’m Chloé Meley from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Japan uses cute cartoons. Italy relies on catchy jingles. What can the UK do to sell government bonds to the masses ? The marketing might need some work, but the UK’s biggest financial institutions think turning ordinary Brits into bond buyers is a massive, untapped opportunity . The government needs loyal, long-term investors. Traditional buyers at home like pension funds are pulling back from the gilt market due to changes in their investing models, leaving the government increasingly reliant on overseas investors. Meanwhile, UK households own less than 4% of outstanding bonds, but are sitting on £2 trillion in deposits. Making fixed income more accessible, with retail-focused bonds and media campaigns that highlight tax breaks and higher returns, could help attract this much-needed mom-and-pop investment. But Brits may not be so keen. The market is on track for its third loss in five years and 2026 is looking to be a particularly volatile year. The lack of education or public awareness around bonds (apart from readers of The London Rush, of course) is another big obstacle. There are challenges, but communication and simplification would be a good start, according to Adam Bothamley, global head of debt capital markets at HSBC, who says unleashing retail investors “has got a huge amount of upside for borrowers and for liquidity in the market.” What’s your take? Ping me on X , LinkedIn or drop me an email at cmeley@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching Speaking of bonds, surging gilt yields have been great for fixed income funds , which had their strongest month of inflows in almost three years in May, according to Calastone data. Meanwhile, money market funds had their third-worst month on record. Castlelake is eyeing a partnership with...
AirAsia X has called recent media reports claiming its Philippine operations were being grounded “coordinated and sensationalised” and part of a “deliberate smear campaign”. In a statement, the airline group said the smear campaign had long been occurring in an attempt to undermine fair competition in the Philippine aviation sector. “Such narratives serve only the interests of those seeking to lim...
AirAsia X has called recent media reports claiming its Philippine operations were being grounded “coordinated and sensationalised” and part of a “deliberate smear campaign”. In a statement, the airline group said the smear campaign had long been occurring in an attempt to undermine fair competition in the Philippine aviation sector. “Such narratives serve only the interests of those seeking to limit consumer choice and create conditions that could lead to a monopoly in the market,” it said. “A...
When Nvidia CEO Jensen Huang makes his second visit to South Korea in just seven months this week, it won't be only to meet top memory chip and robotics executives, but to throw the first pitch at a baseball game and appear on a TV talk show. Samsung Electronics and SK Hynix between them make about 70% of the memory needed for AI chips like Nvidia's. And the country's strength in manufacturing a...
When Nvidia CEO Jensen Huang makes his second visit to South Korea in just seven months this week, it won't be only to meet top memory chip and robotics executives, but to throw the first pitch at a baseball game and appear on a TV talk show. Samsung Electronics and SK Hynix between them make about 70% of the memory needed for AI chips like Nvidia's. And the country's strength in manufacturing and robotics sets it up to be a key player in physical AI, where AI is embedded in robots, cars and factories. "Nvidia's dependence on South Korean suppliers is rising," Jeff Kim, an analyst at Seoul-based KB Securities, wrote in a research note.
pingingz/iStock via Getty Images Elevator Thesis I had a pretty simple point of view in my last piece . Palantir ( PLTR ) was transitioning from AI experimentation to a company that was slowly becoming part of customers' daily operations. That was the main concept at the time, and it still stands today. To transform raw AI into actual business decisions, Palantir leverages AIP and Ontology. Once t...
pingingz/iStock via Getty Images Elevator Thesis I had a pretty simple point of view in my last piece . Palantir ( PLTR ) was transitioning from AI experimentation to a company that was slowly becoming part of customers' daily operations. That was the main concept at the time, and it still stands today. To transform raw AI into actual business decisions, Palantir leverages AIP and Ontology. Once the company integrates this platform into its daily activities, customer spending naturally grows. If you consider the latest results, I would say part of the story has happened exactly as expected. It is clear that Palantir is firing on all cylinders with its Q1 FY26 results. Total revenue rose by 85% year-over-year to $1.63 billion , driven by a massive growth in the U.S. market. The standout was U.S. commercial revenue, which jumped 133% to $595 million. The numbers indicate that customers are getting past minor pilots. They are putting Palantir's software directly into production and increasing adoption once they achieve success. It's the quality of this growth that shines through more. Net dollar retention saw a remarkable push to 150% as existing customers are spending significantly more. Not to mention that the average revenue of their top 20 customers rose to $108 million. Palantir has officially won the argument that its technology is effective. But now the big question is how much of the global AI budget can they get before growth normalizes. This change of mentality is exactly what we're seeing in the stock. Despite a strong quarter and a bumped-up full-year revenue guidance of around $7.65 billion, the market's reaction was pretty muted. Its stock price hovers at $152, significantly below a 52-week high of $207.52. That's because investors are past the initial adoption hype. Any further upside is going to depend on the ability to prove that budget capture can meet high expectations. Therefore, I am changing my rating from Strong Buy to Hold for now. AI Has Become...