AI primary market "booming", OpenAI stocks are being snapped up, three mergers in one day on Monday, Reuters also made a move.

In the backdrop of the artificial intelligence boom, the frenzy in the secondary market is subsiding while the primary market is witnessing a buying spree.

Startups like OpenOpenOpenAI are being snapped up by investors. Just on Monday, three merger and acquisition deals were closed, with even news giant Thomson Reuters making a move, announcing the largest acquisition in the field of OpenOpenOpenAI-generated content.

Three M&A Deals in One Day, Largest Acquisition in OpenOpenOpenAI Field Finalized

On June 26, local time, Thomson Reuters announced its acquisition of Casetext, a legal startup in the OpenOpenOpenAI field, for $650 million, stating that it will enhance its existing artificial intelligence plans.

Steve Hasker, President and CEO of Thomson Reuters, said in a press release, "The acquisition of Casetext is another step in our 'build, partner, and acquire' strategy, aimed at bringing OpenOpenOpenAI solutions to our customers." "We believe Casetext will accelerate and expand the market potential of our products, fundamentally changing the way professionals work and what they do."

The transaction is expected to be completed in the second half of this year.

Thomson Reuters was established in 2008 through the merger of Canadian company The Thomson Corporation and British company Reuters Group PLC. It is a business and professional intelligence information provider, with business segments including news agency Reuters and legal research platform Westlaw.

Casetext was founded in 2013 and provides technology services for legal professionals using OpenOpenOpenAI and machine learning. According to the statement, the company has obtained the rights to use OpenOpenOpenAI's GPT-4 large language model, and its recently launched OpenOpenOpenAI legal assistant, CoCounsel, is also powered by GPT-4.

On the same day, two other acquisitions of OpenOpenOpenAI companies were completed.

Big data giant Databricks announced that it has signed a definitive agreement to acquire MosaicML, an OpenOpenOpenAI startup based in San Francisco, for $1.3 billion, making it the largest known acquisition in the OpenOpenOpenAI field this year.

It is worth noting that MosaicML is a very young generative OpenOpenOpenAI company, founded in San Francisco in 2021, and has only disclosed one round of financing, with only 62 employees. In the previous round of financing, its valuation was $220 million, which means that the acquisition of MosaicML has directly increased its valuation by 6 times.

At the same time, the financial automation platform Ramp acquired its competitor Cohere.io. Ramp stated that the transaction aims to introduce OpenAI into the financial field, help automate customer workflows, improve user experience, and increase efficiency for enterprises.

OpenAI's stock is in high demand, and the stock price is soaring

According to data from private stock market EquityZen Securities Inc., OpenAI and machine learning have been the most sought-after investment areas every month this year, accounting for 25% to 30% of investor interest. On the private market securities trading platform Rainmaker Securities, investors are frantically buying stocks of OpenAI and other hottest startups like Anthropic.

"Institutional investors have become more aggressive," said Brianne Lynch, Director of Market Insights at EquityZen, in an interview with Bloomberg. She also mentioned that retail trading in OpenAI has rebounded since May.

Glen Anderson, co-founder of Rainmaker, pointed out that the number of buyers exceeds the number of stocks available for sale, resulting in prices much higher than in earlier financing rounds.

He stated that bidders are willing to pay a premium of 25% higher than the latest round, and investors' bids for OpenAI have soared from $67 in the previous round to $80.