Breakfast | Alibaba enters the era of Cai Chongxin, Meta develops a more powerful AI system
Air China reports on the CA403 flight fire incident. The handover of management positions at Alibaba is completed, marking the end of the "Zhang Yong era" at Alibaba. Satori Fund, a hedge fund, publicly shorts Apple Inc. Arm is discussing raising the IPO price range. Media reports that Huawei has launched a comprehensive plan to return to the global smartphone market. X application downloads hit a more than 10-year low. ChatGPT's website traffic has declined for three consecutive months. PetroChina acquires Putian New Energy. Square experiences widespread service interruption.
Instacart's IPO Valuation Drops, Aiming for $8.6-9.3 Billion
Online grocery delivery company Instacart Inc. has significantly narrowed its valuation range to between $8.6 billion and $9.3 billion, only a small portion of its previous valuation. The company plans to start its roadshow as early as Monday and is considering pricing its IPO for September 19th, with trading to begin the following day.
Arm is nearing enough investor support to achieve its fully diluted valuation of $54.5 billion sought in its initial public offering (IPO), reaching the upper end of its indicated range, and is considering asking for a higher valuation.
WM Motor: Voluntarily Terminates RTO Process with Apollo Travel on the Hong Kong Stock Exchange
Currently, WM Motor remains a significant shareholder of Apollo Travel and will continue to support its development.