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ByteDance valuation tops $600 billion as demand surges for founder stake sale

ByteDance, the parent of TikTok, has topped a record valuation of more than $600 billion as investor demand concentrated on a stake sale led by one of its founding members. The deal targets about $900 million in share transfers. People familiar with the matter said the seller initially priced the company at about $550 billion but raised the price amid sustained interest. ByteDance did not immediately respond to a request for comment.

AI & Enterprise

Europe infrastructure race heats up as Nebius unveils hyperscale data centre plan

U.S. cloud company Nebius plans to build a new AI data centre in Lappeenranta, Finland, with capacity of up to 310 megawatts. The company said it would be among Europe’s largest once operational and expects to begin initial supply to customers from 2027. The announcement comes as AI infrastructure investment accelerates across Europe, while projects face challenges including higher energy prices than in the United States and difficulties connecting to power grids or securing alternative energy sources.

AI & Enterprise

OpenAI sells $3 billion in shares to retail investors, seeks ETF inclusion

OpenAI sold about $3 billion worth of shares to retail investors through a recent private placement aimed at clients of three large banks, Axios reported. The company also said its shares would soon be included in several exchange-traded funds run by ARK Invest, led by Cathie Wood. CFO Sarah Friar said OpenAI is considering access to economic benefits created by AI as well as access to technology.