NTT plans to make its AI powerhouse NTT Data Group a wholly owned subsidiary in a deal worth 2.37 trillion ( 16.5 billion), the latest in a series of Japanese parent companies absorbing their listed units. The country's biggest telecom operator is launching a tender offer of 4,000 per share for all stock it doesn't own in NTT Data. That represents a premium of 34% to its close the previous day. The tender will take place from Friday to June 19, with NTT Data to delist after the tender. News of the deal sent NTT Data shares up by their daily limit of 17% on Thursday, its highest in 25 years.

SoftBank Group is aiming to increase its stake in OpenAI by acquiring up to 1.5 billion in shares from the startup's employees, according to people familiar with the matter. The company will make a tender offer for the stock, allowing OpenAI employees to cash in shares if they choose. SoftBank contributed 500 million to OpenAI's 6.6 billion fundraising round in October, but had pushed for a larger allocation at the time, said one of the people, asking not to be named because the negotiations aren't public. SoftBank founder Masayoshi Son has vowed to step up investments in artificial intelligence as his Tokyo-based company regains its financial footing after years of missteps. OpenAI, which jumped out to early leadership in the field with its ChatGPT product, was valued at 157 billion in the last fundraising.

Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at 80bn or more, the New York Times reported on Friday, citing multiple people with knowledge of the deal. The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Employees will be able to cash out their shares of the company rather than a traditional funding round, which would raise money for the business, the report added. OpenAI did not immediately respond to a request for comment. The artificial intelligence firm agreed to a similar deal early last year.

OpenAI Inc., the startup behind the Artificial Intelligence-powered chatbot tool ChatGPT, is the subject of a tender offer from investors that could see its valuation soar to as much as USD 29 billion. In a deal that would see them buy shares from current OpenAI shareholders like its employees, the venture capitalist firms Founders Fund and Thrive Capital are reportedly in talks to invest in the hot startup. This is according to a report from the Wall Street Journal. If the deal goes through, OpenAI's previous valuation of USD 14 billion, established following its most recent tender offer in 2021, would more than double. With the release of its popular chatbot tool ChatGPT in the latter part of last year, OpenAI recently captured the public's attention.

OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, making it one of the most valuable U.S. startups on paper despite generating little revenue. Venture-capital firms Thrive Capital and Founders Fund are in talks to buy shares, the people said. The tender could total at least $300 million in OpenAI share sales, they said. The deal is structured as a tender offer, with the investors buying shares from existing shareholders such as employees, the people said.

OpenAI, the research lab behind the viral ChatGPT chatbot, is in talks to sell existing shares in a tender offer that would value the company at around $29 billion, according to people familiar with the matter, making it one of the most valuable U.S. startups on paper despite generating little revenue. Venture-capital firms Thrive Capital and Founders Fund are in talks to invest in the deal, which would total at least $300 million in share sales, the people said. The deal is structured as a tender offer, with the investors buying shares from existing shareholders such as employees, the people said.

Acquisition Expands Medtronic's Artificial Intelligence and Data Capabilities, Becoming the First Company to Offer an Integrated Spine Solution Including AI-Driven Surgical Planning, Personalized Spinal Implants and Robotic Assisted Surgery DUBLIN, Nov. 16, 2020 /CNW/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced that it has completed its friendly tender offer for France-based Medicrea International (Euronext Growth Paris: FR0004178572 – ALMED Medicrea; OTCQX Best Market – MRNTF), a pioneer in the transformation of spinal surgery through artificial intelligence (AI), predictive modeling and patient specific implants. On July 15, 2020, the parties announced a friendly voluntary all-cash tender offer at the price of €7.00 per Medicrea share. As a result of completion of the tender offer, Medtronic currently owns in excess of 90% of Medicrea's share capital and voting rights and will shortly request the implementation of a squeeze-out procedure under French law, which will result in Medicrea becoming a wholly-owned subsidiary of Medtronic. This is Medtronic's seventh acquisition completed in 2020 and furthers Medtronic's strategic expansion into AI, machine learning and predictive analytics. Medicrea's product portfolio consists of 30 510(k) cleared or CE Marked implant technologies, utilized in spinal surgeries for adult deformity, pediatric deformity and degenerative disease.

A U.S. activist investor called on Japanese clothing company Sanyo Shokai Ltd. to sell itself, saying a new owner would help turn around the firm. RMB Capital sent a letter in December to the company's board, urging it to seek a strategic buyer, according to Masakazu Hosomizu, a Chicago-based portfolio manager for the investment firm. Sanyo Shokai should seek a partner with more capital because its own efforts to revive the company haven't been successful and it doesn't have enough scale to reorganize its business on its own, he said. RMB, which owns about 5 percent of Sanyo Shokai, decided to go public about the letter because it wasn't satisfied with the company's noncommittal response, Hosomizu said in an interview. A spokesperson for Sanyo Shokai wasn't immediately available to comment.

NEW YORK--(BUSINESS WIRE)--AllianzGI Artificial Intelligence & Technology Opportunities Fund (the "Fund") announced today that the underwriters of its initial public offering of common shares, which closed on October 31, 2019, partially exercised their over-allotment option having purchased an additional 2,068,135 common shares of the Fund. The closing of the partial exercise of the overallotment option occurred on November 19, 2019. The gross proceeds of $41,362,700 from the partial exercise of the over-allotment option brings the total amount raised in the Fund's initial public offering to $656,362,700. The Fund's common shares are listed on the New York Stock Exchange under the symbol "AIO." Pursuant to their over-allotment option, the underwriters of the Fund's initial public offering may still exercise the right to purchase up to an additional 2,544,365 common shares of the Fund until December 12, 2019, which would bring the total amount raised in the Fund's initial public offering to $707,250,000.

NEW YORK–(BUSINESS WIRE)–Allianz Global Investors ("AllianzGI"), one of the world's leading active investment managers, announced today that the AllianzGI Artificial Intelligence & Technology Opportunities Fund (the "Fund") has completed its initial public offering. The Fund raised $615,000,000 in its common share offering, excluding any exercise of the underwriters' option to purchase additional common shares. The Fund commenced trading on the New York Stock Exchange ("NYSE") on October 29, 2019, under the ticker symbol "AIO." The Fund is a diversified, limited-term, closed-end fund whose investment objective is to provide total return through a combination of current income, current gains and long-term capital appreciation. The Fund has a limited term feature pursuant to which it intends to terminate on or about October 29, 2031 (the "Dissolution Date").