Business News

French AI Startup Mistral AI Seeks Multimillion Funding Round at $5 Billion Valuation

Key Points: French startup Mistral AI is in discussions with investors to raise several hundred million dollars, aiming for a valuation of $5 billion. Microsoft recently deepened its partnership with Mistral by investing $16 million in the startup and integrating its AI models into the Azure cloud platform. Regulatory scrutiny over partnerships between tech giants and startups has intensified, calling for investigations into potential power concentration. Despite regulatory challenges, Mistral AI has strong growth, securing $415 million in funding in December and achieving a valuation of 2 billion euros. According to a report by The Information on Tuesday, French tech...

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Microsoft to Invest $1.5 Billion in UAE AI Firm G42 to Bolster Technology Position

Key Points: Microsoft is investing $1.5 billion in UAE-based AI firm G42 to strengthen its technology position. Microsoft's President will join G42's board of directors. Both companies are committed to the secure, trusted, and responsible development and deployment of AI technologies.  G42 will utilize Microsoft Azure cloud services for its AI applications and services, enhancing deployment capabilities. Microsoft and G42 plan to establish a $1...

Affinity Equity Partners to Acquire SK Rent-a-Car Co. for $572 Million

Key Points: Affinity Equity Partners will acquire SK Rent-a-Car Co. for $572 million, signaling a resurgence in South Korean acquisitions. SK Networks selects Affinity as the preferred bidder over competitors. The deal provides liquidity to SK Group and streamlines its portfolio. SK Networks aims to pursue acquisitions in the AI sector, having recently invested in AI startup Upstage Co. and acquired data management firm en-core...

BMW Group’s Procurement from Korean Suppliers Surpasses Sales Figures in 2023

Key Points: BMW Group's global spending on parts from Korean suppliers in 2023 totaled $4.72 billion, exceeding its sales figures within Korea. Korean suppliers such as Samsung SDI, Samsung Display, and LG Group play a significant role in BMW's global supply chain. BMW Group's cumulative spending on Korean auto parts since 2010 amounts to approximately $22.24 billion. BMW Group Korea was recognized for contributing to...

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