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AI & Enterprise

Musk\'s xAI wins final approval for APR Energy acquisition to secure power for AI

Elon Musk has acquired mobile power equipment company APR Energy to secure electricity for xAI data centres needed to run the Grok AI service, the article said. The deal was cleared after the U.S. Federal Trade Commission ended its merger review early, allowing approval without additional antitrust scrutiny. The purchase has drawn attention as xAI relies on gas turbines at its Memphis supercomputer site and faces environmental lawsuits and regulatory scrutiny over emissions and permitting.

Crypto

Mirae Asset clears Korbit takeover as Naver-Dunamu tie-up stalls

South Korea’s antitrust regulator approved Mirae Asset Consulting’s plan to buy a 92.06 percent stake in crypto exchange Korbit for about 133.4 billion won, citing Korbit’s low market share. A separate tie-up between Naver Financial and Dunamu has been delayed again, with Naver pushing back key dates. The article cites Upbit’s market dominance, financial regulatory approvals, potential scrutiny of user protection and AML systems, and possible future limits on major shareholders’ stakes.

Crypto

FTC seeks views on Dunamu-Naver Financial combination; securities industry warns of entry barriers

South Korea\'s Fair Trade Commission is collecting views from major securities firms during its review of a business combination between Dunamu and Naver Financial. The watchdog asked 18 brokerages to submit opinions by the end of this month, the financial investment industry said. Concerns include higher entry barriers if simple payments, digital-asset trading and unlisted-share brokerage are combined on one platform, and whether integrated data could create hard-to-match competitive advantages.