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B Capital's $2.8B Russell Deal, SK Hynix's Record IPO & Microsoft's AI Shift
Audio is available on Spreaker — see link below.
B Capital and CalPERS acquire $416B AUM Russell Investments for $2.8B, SK Hynix lands the largest-ever foreign IPO on Nasdaq at $26.5B, and Microsoft deploys in-house MAI models to cut reliance on OpenAI and Anthropic. Six stories covering the deals, capital structures, and strategic moves shaping the market today.
Audio is available on Spreaker — see link below.
A twenty-six-year-old private equity firm is buying one of the oldest names in institutional asset management. B Capital, leading a consortium that includes CalPERS, has agreed to acquire Russell Investments from TA Associates and Reverence Capital Partners for two point eight billion dollars.
Out of Hong Kong, MiniMax is raising two billion dollars through a combination of new shares and convertible bonds. The equity component is straightforward.
Microsoft is rolling out its proprietary MAI models inside Excel and Outlook, reducing its operational reliance on OpenAI and Anthropic APIs. This is the clearest signal yet that big tech vertical integration in AI is no longer a roadmap item.
SK Hynix completed its US listing on Nasdaq, raising twenty-six point five billion dollars. That makes it the largest IPO of a foreign company on a US exchange.
Tencent is in talks to become the largest shareholder in Manus, the autonomous AI agent startup. Autonomous agents are quickly becoming strategic assets that large platforms feel they can't afford to miss.
Taiwan's Nanya Technology is planning six billion dollars in capital spending through twenty-twenty-seven to expand AI-grade memory capacity. That's a third-tier chipmaker making a late-stage bet on sustained AI server demand.
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