ZURICH: Swiss technology leader ABB announced today it is accelerating the development of gigawatt-scale data centers in a collaboration with U.S. chipmaker NVIDIA, focusing on the advanced power solutions required for soaring artificial intelligence (AI) workloads. The partnership will center on creating high-efficiency, scalable power delivery systems, specifically supporting NVIDIA’s planned introduction of an 800 VDC…
Category: Wire
News wire, ,nyse exchange, market newspaper, equities market news, financial news,
Beyond Paris and Tokyo: Chinese tourists fuel a Middle East travel boom
Move over, Bali. Step aside, London. Chinese travelers are embarking on a new adventure, and their destination of choice is surprising the tourism world: the Middle East. Spurred by easier visa rules, a flood of new direct flights, and a thirst for unique experiences, Chinese outbound travel to the region is exploding. Data from the recent…
AI Technology Group to acquire AVM Biotechnology
SEATTLE: AI Technology Group Inc. (OTCID: AIPG) said Friday it has filed an amended Form 10 with the U.S. Securities and Exchange Commission and signed a definitive agreement to acquire AVM Biotechnology Inc., a clinical-stage biopharmaceutical company developing a novel cancer therapy. Under the agreement dated July 31, 2025, a newly formed subsidiary of AI…
Bristol Myers Squibb signs deal to acquire Orbital Therapeutics for $1.5 billion
NEW YORK: Bristol Myers Squibb (NYSE: BMY, BMS) and Orbital Therapeutics have entered into a definitive agreement in which BMS will acquire Orbital, a privately held biotech firm at the forefront of developing next-generation RNA-based therapies. Orbital’s platform focuses on in vivo immune system reprogramming, offering highly targeted, adaptable treatments designed to address the intricate…
Novo Nordisk to buy Akero for up to $5.2 billion
COPENHAGEN: Danish drugmaker Novo Nordisk will acquire U.S.-based Akero Therapeutics (AKRO.O) for up to $5.2 billion, gaining a promising liver disease treatment in the first major deal by its new chief executive to bolster its pipeline. The acquisition of Akero and its lead drug candidate, efruxifermin, underscores CEO Mike Doustdar’s strategy to focus on highly effective…
Wynnchurch Capital sells Clyde Industries after strategic growth investment
ATLANTA: Wynnchurch Capital, L.P., a middle-market private equity firm based in Rosemont, Illinois, announced Thursday the sale of Clyde Industries, a leading manufacturer of sootblowers and boiler efficiency solutions headquartered in Atlanta. Wynnchurch acquired Clyde in 2019 through a corporate carve-out from Clyde Bergemann Power Group. Over the course of the investment, the firm supported…
Stoke Space raises $610 million to accelerate reusable rocket development
KENT: Stoke Space Technologies, a U.S. rocket builder, said on Tuesday it has raised $510 million in a Series D funding round and secured a $100 million debt facility, providing fresh capital to speed development of its fully reusable Nova launch vehicle. The equity round was led by Thomas Tull’s US Innovative Technology Fund (USIT),…
SoftBank to acquire ABB’s robotics division for $5.4 billion
SoftBank Group Corp. said Monday it has agreed to acquire the robotics division of Swiss engineering giant ABB Ltd. for $5.4 billion, marking a major step in the Japanese conglomerate’s effort to expand its footprint in artificial intelligence. The deal, which remains subject to global regulatory approvals, will halt ABB’s previously announced plan to spin…
Northleaf Capital Partners acquires PowerStream Energy Services
TORONTO: Northleaf Capital Partners, a global private markets investment firm, announced Wednesday that infrastructure funds managed by the firm have acquired PowerStream Energy Services from Alectra Energy Services Inc., an affiliate of Alectra Inc. The transaction was executed through a tuck-in acquisition by Provident Energy Management Inc., a Northleaf portfolio company. Financial terms were not…
Qualcomm acquires Italy’s programmable circuit board maker, Arduino
SAN DIEGO: Chipmaking giant Qualcomm said Tuesday it is acquiring Arduino, a move aimed at embedding its technology with the tinkerers and startups who are building the next generation of robots and intelligent devices. Arduino, an Italy-based maker of inexpensive, programmable circuit boards, is a staple in university labs, hardware startups and hobbyist workshops for…
Canter Power Systems acquires Optimize Generator People to expand gulf coast footprint
GREENSBORO: Canter Power Systems, a Generac Power Premier Pro dealer and one of the largest independent residential backup generator providers in the U.S., has acquired Optimize Generator People, a leading Louisiana-based installer and service provider of home standby generators. This marks Canter’s sixth strategic acquisition since partnering with Rotunda Capital Partners in 2021. Founded in…
Mixpanel acquires DoubleLoop to embed AI into business strategy analytics
SAN FRANCISCO: Digital analytics firm Mixpanel said on Tuesday it has acquired DoubleLoop, a startup specializing in AI-powered business value frameworks, as it seeks to help companies quickly identify key growth drivers. The deal aims to integrate DoubleLoop’s artificial intelligence technology directly into Mixpanel’s platform, accelerating how product and marketing teams connect their daily work…