TikTok's new majority US-owned JV includes investors Oracle, Silver Lake, and Abu Dhabi's MGX, each holding 15%, and Dell Family Office; ByteDance retains 19.9%
Video app sets up American unit to handle data and algorithm security — TikTok has established a US data security unit …
Memo: the TikTok US deal is set to close on Jan. 22; terms include retraining the recommendation algorithm on US user data and Oracle overseeing data protection
Revamped ‘TikTok USA’ Expected Next Month Wesley Hilliard / AppleInsider : US investors to close deal on 50% ownership of TikTok January 22 Sports Business Journal : TikTok sale becomes official, with...
Binance receives three licenses from Abu Dhabi's financial regulator, allowing comprehensive operations across its exchange, clearing, and broker-dealer arms
Binance has won three separate licenses from Abu Dhabi's financial regulator, giving the crypto exchange giant one of its most comprehensive regulatory footholds yet.
Sources: Oracle, Silver Lake, and Abu Dhabi's MGX will be the main TikTok USA investors, with a ~45% stake; ByteDance will own 19.9% and ByteDance investors 35%
We may never know if the administration-brokered TikTok sale complies with the law … New York Times : Trump Clears Way for American-Owned TikTok Valued at $14 Billion Financial Times : TikTok US to be...
Sources: Mistral is in discussions, including with Abu Dhabi's MGX, to raise $1B at a valuation of about $10B, up from its previous valuation of €5.8B
Financial Times :
Cerebras says it has resolved “all open issues” with the CFIUS, as it prepares for an IPO; the AI startup filed a notice about its ties to Abu Dhabi's G42
G42 also planned to buy more than 22 million shares in Cerebras. The Sunnyvale, California-based company had said the arrangement …
BlackRock, Microsoft, and Abu Dhabi's MGX say Nvidia and xAI joined a consortium to build AI infrastructure in the US; investors committed $100B for deployment
Akash Sriram / Reuters :
VFX company DNEG raised $200M from Abu Dhabi's UASG at a $2B+ valuation to expand its Brahma division, which is developing an AI-powered, photo-real CGI creator
Melanie Goodfellow / Deadline :
Abu Dhabi-based edtech startup Alef Education, which serves kindergarten to 12th grade, aims to raise up to $515M in an IPO, Abu Dhabi's first IPO of 2024
Julia Fioretti / Bloomberg :
Microsoft invests $1.5B in Abu Dhabi-based AI startup G42 for a minority stake, after G42 severed ties with Chinese suppliers; Brad Smith will join G42's board
The Emirati AI Giant That Just Got A $1.5 Billion Investment From Microsoft Chris McKay / Maginative : Microsoft Invests $1.5 Billion in UAE's G42 Matthias Bastian / The Decoder : Microsoft invests $1...