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Welcome to CashWire, your trusted source for the latest financial news and analysis. We specialize in providing accurate, fast, and accessible information on financial markets, investments, the economy, and global trends.
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Current financial news
US Defense Startup Anduril Raises $1.5B at $14B Valuation
Defense technology startup Anduril Industries Inc. has raised $1.5 billion in a new funding round and plans to spend hundreds of millions on a new factory to produce its missiles, underwater vehicles and other autonomous weapons systems at a larger scale and faster rate. The deal, which values Anduril at $14 billion, is one of the largest venture investments this year and reflects the company’s success in winning government contracts and growing investor interest in defense technology companies.
Security Software Developer Abnormal Security Raises $250M at $5.1B Valuation
San Francisco-based Abnormal uses AI to protect customers from email- and program-based cyberattacks. It has gained popularity because “the rise of generative AI has enabled even small-time criminals to create highly sophisticated attacks at scale.” CEO Evan Reiser and CTO Sanjay Jeyakumar, who founded the company in 2018, previously worked together at Twitter. There, Reiser led the product management and machine learning teams for the advertising business, while Jeyakumar was a systems architect.
Saudi PIF invests $750 million in shaky VR developer Magic Leap
Magic Leap, which has raised at least $3.5 billion, said it will need additional funds later this month and in January and June 2025 “to meet its obligations as they fall due.” The firm has “realistic expectations” of receiving funding from an unnamed investor, according to a filing from its European units. PIF became the startup’s majority owner in 2022. The sovereign wealth fund provided $590 million next year and another $160 million in 2024 in exchange for convertible debt, according to Magic Leap documents.
SoftBank Announces $3.4 Billion Share Buyback
Tokyo-based tech investor SoftBank Group plans to buy up to 6.8% of its publicly traded shares in the year ending Aug. 7, 2025, according to a press release. The announcement comes after Elliott amassed a significant stake in SoftBank this year and pushed for a $15 billion buyout.
The spending comes as SoftBank founder Masayoshi Son says he is mobilizing resources for a major investment push into AI.
Son has used buybacks in the past to boost his stock price.
Quantum Capital to Acquire Power Generator Cogentrix for $3 Billion
Utilities are increasingly attracting investor interest as technology innovations including artificial intelligence and data centers drive demand for electricity.
Power consumption by the thousands of giant computing storage machines that make up data centers is expected to triple globally to 46 terawatt hours (TWh) this year, up from less than 15 TWh in 2023, according to Morgan Stanley research.
“We are at a critical juncture in the development of the domestic electricity market…
BHP and Lundin Mining to buy copper miner Filo for $3.25bn
BHP and Lundin will form a 50/50 joint venture to develop the Filo del Sol and Josemaria projects on the border of Argentina and Chile. BHP and Lundin offered $33 per share in Filo, reflecting a premium of 12.2% to the Canadian copper company’s last close on Monday. Under the terms of the deal, BHP is expected to pay a total of $2.1 billion in cash.
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