SEPTEMBER
Payment processing company Stripe will put up $8 billion in cash and stock to take over OpenRouter, a startup that allows companies to switch among various AI models to find the one that is cheapest or best suited to a particular need.
The purchase is Stripe’s largest to date.
The U.S. treasury’s pledge to purchase $4b in U.S. notes & long-dated bonds has failed to impress investors. Bond prices ticked up briefly after 18 Aug, but fell & yields rose again the following day.
Prices too low for 30-year U.S. bonds,” Jim Caron of Morgan Stanley noted.
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Goldman Sachs will buy LCN Capital Partners, a real estate investment company that manages about $3b in assets.
The investment bank will pay $250m immediately & as much as an additional $150m if performance targets are met. About 80% of the price will be paid in Goldman stock.
China’s top tech stock index has returned 29% this year through 18 Aug, more than twice the NASDAQ’s 12.4%.
The 50 largest and most-traded stocks on the Star index are showing a collective price-to earnings ratio of 150, almost four times more than NASDAQ’s 35, the FT reported.