Eli Lilly & Co., a pharmaceutical firm, intends to purchase biotech Merida Biosciences, known for creating therapies for autoimmune and allergic conditions, according to a company statement reported by Bloomberg. Eli Lilly is set to pay as much as $2.88 billion in cash for Merida. It will provide part of the payment initially, with subsequent milestone payments linked to product development...

The union for General Motors Canada (Unifor) has ratified a deal to manufacture a new heavy-duty truck at a facility in Ontario, according to Reuters. The agency reported that Unifor members voted in favor of the contract on Sunday. GM's investment in the nation's automotive sector amounts to C$1.1 billion ($791.31 million). This encompasses C$691 million revealed in April for the manufacture of...

Chinese AI model creator DeepSeek is nearing the end of a funding round with a pre-money valuation estimated at around 500 billion yuan ($74 billion), as reported by the South China Morning Post and The Wall Street Journal, referring to sources knowledgeable about the negotiations. As reported by sources in the newspapers, DeepSeek plans to secure 50 billion yuan ($7.4 billion) which will be...

In its quarterly results, the American firm Nvidia reported a net profit that more than doubled from the previous year, hitting $59.69 billion. According to The New York Times, revenue also increased twofold, hitting $96.22 billion. Only three years back, Nvidia's quarterly earnings were $6.2 billion. This increase was partly attributed to the firm having around 90% of the market for AI-powered...

Oura Health, a smart ring manufacturer, along with some of its investors, aims to secure up to $3 billion in an initial public offering (IPO) in the United States, according to Bloomberg, referencing sources close to the conversations. Sources from the agency indicate that Oura Health's IPO might occur as soon as September, estimating the company's value at more than $16 billion. Current...

Nvidia is negotiating to invest in the AI startup Perplexity during a funding round, according to The Information, which cites sources close to the discussions. The report indicates that Perplexity's valuation after this funding round may surpass $30 billion. This is over 50% greater than the valuation of the startup when it secured funding a year prior. In September 2025, investors assessed...

Elon Musk's SpaceX has approached artificial intelligence startup Cognition AI with a potential acquisition offer, sources familiar with the matter told Bloomberg. According to one source, Cognition was not considering an acquisition offer. The sources also said that discussions are underway regarding cooperation, including the possibility of providing SpaceX with computing power. SpaceX is...

Luigi Lovaglio, CEO of Banca Monte dei Paschi di Siena SpA, is contemplating the acquisition of two smaller Italian banks, Banco BPM and Banca Generali, as reported by Il Sole 24 Ore, referencing sources. They anticipate that the agreements will be executed via a share exchange. Lovaglio, who continued leading the world's oldest functioning bank following a tense confrontation with the board of...

Unitree Robotics, a maker of humanoid robots, saw its shares soar 460% on their first day of trading on the Shanghai Stock Exchange, according to Bloomberg, referencing trading data. At their highest point, their worth rose by 629%. Unitree became the first manufacturer of humanoid robots to list publicly in mainland China. The firm secured 6.1 billion yuan ($904 million) during its IPO, pricing...