SpaceX, which could file confidential paperwork for its IPO as soon as this week, is now aiming to raise an astounding $75 billion through its public listing, The Information reports. That’s 50% higher than previous reports.
For comparison’s sake, the current record holder for money raised in an IPO is Saudi Aramco, which raised $29.4 billion. Or, as The Information noted, SpaceX’s IPO would “surpass all money raised by US IPOs last year.”
OpenAI’s planned IPO later this year is expected to be one of the largest of all time. Employees who got equity early on are sure to reap a windfall when the company shares hit the public markets.
Often these pre-IPO shares can’t be cashed in until the company goes public, and many startups have longer lockup periods before employees can sell their shares.
But The Wall Street Journal reports that OpenAI has a relatively short two-year vesting period, and the company allowed employees to sell shares before the IPO via a tender offer, as long as they’ve reached the two-year mark.
According to the report, in October, more than 600 current and former OpenAI employees sold shares through this process, minting a cluster of new multimillionaires. The Journal said about 75 of those walked away with $30 million (the maximum sale amount for this offer).
But The Wall Street Journal reports that OpenAI has a relatively short two-year vesting period, and the company allowed employees to sell shares before the IPO via a tender offer, as long as they’ve reached the two-year mark.
According to the report, in October, more than 600 current and former OpenAI employees sold shares through this process, minting a cluster of new multimillionaires. The Journal said about 75 of those walked away with $30 million (the maximum sale amount for this offer).
Intel soared more than 14% on a Wall Street Journal report saying the company has reached a preliminary agreement with Apple to manufacture chips for the iPhone maker. Intel, already on a tear as of late, jumped earlier this week when Bloomberg first reported the two companies were in talks. It’s still unclear which chips Intel would manufacture for Apple, which has been facing supply constraints for its iPhone as well other products.
In any case, the deal could help Apple ease supply constraints that have hit some of its products and reduce its reliance on longtime partner TSMC, as it aims to bring more chip manufacturing stateside.
In any case, the deal could help Apple ease supply constraints that have hit some of its products and reduce its reliance on longtime partner TSMC, as it aims to bring more chip manufacturing stateside.
OpenAI wanted further Azure computing discounts, but Microsoft didn’t think it was on the verge of a breakthrough.
