Shivangi Lahiri / Reuters:
Filing: Chinese AI startup MiniMax seeks to raise up to ~$538.5M in a Hong Kong IPO, offering 25.4M shares at a price range of ~$19.40 to ~$21.20 per share  —  Chinese AI startup MiniMax Group is seeking to raise up to HK$4.19 billion ($538.54 million) in a Hong Kong initial public offering, a regulatory filing showed on Wednesday.

Jason Pargin is — well, to my tastes — a master of the TikTok video format. This one is so good, and ends with a mic-drop closing line.

Mayor-elect Zohran Mamdani said on Tuesday he takes “seriously” an audit that determined a key fund that pays insurance premiums for city workers, retirees and their dependents is insolvent. He also sought to reassure city workers concerned about what the bombshell findings by Comptroller Brad Lander may mean for their health care. Lander’s probe, released […]

The post Mamdani Takes Health Fund Audit ‘Seriously’ as Insolvency Reverberates appeared first on THE CITY - NYC News.

Suzanne Smalley / The Record:
The US Treasury has lifted sanctions on three executives tied to spyware maker Intellexa, reversing a designation imposed by the Biden administration in 2024  —  The Treasury Department on Tuesday took three people closely affiliated with the holding company behind Predator spyware off of a sanctions list …

Kurt Wagner / Bloomberg:
Elon Musk says xAI bought a third building called “MACROHARDRR”, reportedly adjacent to Colossus 2, that will take the company's training compute to almost 2GW  —  Elon Musk's xAI is planning an expansion of its massive data center complex in Memphis, and has purchased a third building …