TikTok owner ByteDance is ramping up its spending on artificial intelligence infrastructure, boosting its planned capital expenditure this year to more than 200 billion yuan (US$30 billion), according to two people familiar with the matter. This represented an increase of at least 25 per cent compared with a preliminary plan discussed late last year that proposed AI capex of 160 billion yuan, they...
TikTok owner ByteDance is ramping up its spending on artificial intelligence infrastructure, boosting its planned capital expenditure this year to more than 200 billion yuan (US$30 billion), according to two people familiar with the matter. This represented an increase of at least 25 per cent compared with a preliminary plan discussed late last year that proposed AI capex of 160 billion yuan, they said. The increase was necessary because of the company’s growing commitment to AI, as well as...
AlexSecret/iStock via Getty Images Five IPOs and three SPACs priced this week. Five IPO and two SPACs submitted filings. Signal processing platform HawkEye 360 ( HAWK ) priced at the top of the range to raise $416 million at a $2.8 billion market cap. HawkEye 360 is a defense technology company that provides space-based radio frequency signals intelligence and analytics to government and allied cu...
AlexSecret/iStock via Getty Images Five IPOs and three SPACs priced this week. Five IPO and two SPACs submitted filings. Signal processing platform HawkEye 360 ( HAWK ) priced at the top of the range to raise $416 million at a $2.8 billion market cap. HawkEye 360 is a defense technology company that provides space-based radio frequency signals intelligence and analytics to government and allied customers. The company designs and operates a constellation of small satellites that collect RF data, then processes that data through proprietary signal processing and AI-enabled analytics software to detect, geolocate, classify, and track emitters such as radars, jammers, vessels, and communications networks. HawkEye 360 boasts strong revenue growth and a rapidly growing backlog but remains unprofitable on a GAAP operating basis. It finished the week up 28%. Autoimmune diseases biotech Odyssey Therapeutics ( ODTX ) priced its upsized IPO at the top of the range to raise $279 million at a $911 million market cap. Odyssey is a biotech focused on developing targeted therapies for autoimmune and inflammatory diseases. Its lead programs include oral small-molecule candidates targeting RIPK2 and SLC15A4, with its most advanced drug showing early clinical efficacy in ulcerative colitis and others in preclinical development. Odyssey Therapeutic has a broad pipeline and targets a new clinical-stage candidate every 12-14 months but competes with many approved therapies. It finished the week down 9%. Soft drink producer Suja Life ( SUJA ) priced at the bottom of the range to raise $187 million at an $813 million market cap. Suja Life is a beverage platform focused on functional and health-oriented drinks. Through its Suja Organic, Vive Organic, and Slice brands, the company sells cold-pressed juices, wellness shots, and functional sodas designed for different daily consumption occasions. Suja Life commands a leading position in the cold-pressed juice and wellness shots categories but ...
Lucky7trader/iStock via Getty Images I last covered Blackstone Secured Lending ( BXSL ) about four weeks ago. At the time, it traded at a 13.3% dividend yield and a 14% discount to net asset value, both of which signaled significant value relative to its historical norms. Additionally, its underlying fundamentals remained quite sound, and its dividend was fully covered by net investment income. As...
Lucky7trader/iStock via Getty Images I last covered Blackstone Secured Lending ( BXSL ) about four weeks ago. At the time, it traded at a 13.3% dividend yield and a 14% discount to net asset value, both of which signaled significant value relative to its historical norms. Additionally, its underlying fundamentals remained quite sound, and its dividend was fully covered by net investment income. As a result, I upgraded it to a strong buy and added it to my portfolio. Since then, the stock has done well, returning about 5%, and BXSL has also just reported Q1 results. In this article, I will give the investment thesis a fresh look to see if I still view it as an attractive buy. A World-Class Sponsor With Proven Private Credit Chops BXSL is an externally managed BDC by Blackstone ( BX ), which is the world's largest alternative asset manager with about $1.3 trillion in assets under management. This gives BXSL significant origination, deal flow, and workout recovery capabilities, along with proprietary data and sponsor relationships that give it unique insights into the state of the market and a potential edge in generating total return performance. BX's overall credit investment platform has invested over $160 billion in North American direct lending over an approximate two-decade history with less than 10 basis points of annual realized losses, which indicates it has a proven track record in this space and should be able to deliver attractive performance for BXSL shareholders over the long term. A Conservative, Diversified Portfolio The company's portfolio remains very conservatively positioned, with 97.6% of its investments in first lien senior secured loans, broad diversification across 216 counterparties, and an average loan-to-value that is fairly conservative at 51.7%, with diversification spread across 39 industries and no single borrower exceeding 3% of its portfolio. Additionally, the borrowers are performing well, with a high single-digit percentage of last-12...
Investing.com -- Chinese outbound shipments staged a stronger-than-anticipated recovery in April, as the global investment boom in artificial intelligence helped the trade sector navigate significant shipping disruptions caused by the war in Iran.
Investing.com -- Chinese outbound shipments staged a stronger-than-anticipated recovery in April, as the global investment boom in artificial intelligence helped the trade sector navigate significant shipping disruptions caused by the war in Iran.
Bangkok-based SiamAI said on Saturday it had not exported AI servers to China and that it complies with U.S. export and re-export control laws. • The firm has faced allegations of circumventing exports of advanced chips from U.S. firms Super Micro Computer and Nvidia to China. • "SiamAI has not engaged in the export of AI servers to China," it said in a statement.
Bangkok-based SiamAI said on Saturday it had not exported AI servers to China and that it complies with U.S. export and re-export control laws. • The firm has faced allegations of circumventing exports of advanced chips from U.S. firms Super Micro Computer and Nvidia to China. • "SiamAI has not engaged in the export of AI servers to China," it said in a statement.