The former Microsoft and GM executive Chris Liddell has previously worked for the Trump administration. ...

Let's get uh right to our next guest here at Pebble Beach. David Solomon is chairman and CEO of Goldman Sachs. And you're killing it, David.It's been eight years. >> It's we're in the we're in the eighth year. Joe, >> I think there were a couple years where maybe you wouldn't have wanted to be out here at a at a at a golf tournament maybe.>> Yeah. I mean, I you know, there there there are times when I think it's great to be out here and there are times where you've got to have your head down and and focused ...

《星岛》见习记者 洪雨欣 深圳报道 近日，国投证券向中国证监会湖北监管局报送湖北楚大智能装备股份有限公司（下称 "楚大智能"）北交所IPO辅 导备案材料，开启公司新一轮上市辅导工作。 这是楚大智能在2025年8月撤回北交所IPO申请并终止审核后，再度冲击资本市场。值得注意的是，在楚大智能1 月14日公布的《湖北楚大智能装备股份有限公司股票定向发行说明书(修订稿) 》中提到，定向发行会对股东持股 比例造成一定影响。上电科智研坊和WANG JIEGAO将成为新股东，分别持股3.81%和0.95%，邓家辉持股比例减 至47.1159%，仍为公司实际控制人。 | | 黄加贵 | 588,236 | 1.9063% | | --- | --- | --- | --- | | 0 | 创想科技 | 142,857 | 0.463% | | | 合计 | 30,857,142 | 100.00% | | 序号 | 股东姓名 | 持股数量(股) | 持股比例 | | --- | --- | --- | --- | | 1 | 邓家辉 | 15,265,546 | 47.1159% | | 2 | 祭志相 | 9.944.53 ...

Group 1 - The core point of the article is that Zhipu Company has updated its IPO guidance progress, indicating a strategic shift in its plans for going public [1] - Zhipu has withdrawn its previous IPO guidance filed in April 2025 and has registered a new guidance for its initial public offering [1] - The company plans to issue shares and list on the Science and Technology Innovation Board of the Shanghai Stock Exchange [1] Group 2 - The IPO guidance institution has changed from China International Capital Corporation (CICC) to a combination of Guotai Junan Securities and CICC [1]

每经AI快讯，继H股上市后，智谱继续推进其A股上市计划。近日，中国证监会官网更新了智谱公司的 IPO辅导进展信息。根据证监会披露，智谱撤回了其于2025年4月提交的辅导备案，并办理了新的辅导 备案登记。与上次不同的是，智谱IPO辅导机构变更为两家券商，由原来的中金公司（601995）变更为 国泰海通证券和中金公司两家。新的辅导备案报告还披露，智谱拟冲刺上交所科创板。 ...

Group 1 - The article promotes a premium service called "Value in Corporate Events" that focuses on major corporate events such as earnings reports, M&A, and IPOs, providing actionable investment ideas [1] - The service aims to cover 10 major events each month, helping investors identify the best opportunities in the market [1] Group 2 - The article emphasizes the expertise of the leader of the investing group, who has a Master of Science in financial markets and a decade of experience in tracking companies through catalytic events [1]

Core Viewpoint - ARKO Petroleum shares experienced a decline of 1.4% during their debut on the Nasdaq, leading to a valuation of $807.63 million, as investor concerns about market volatility impact new stock performance [1]. Company Summary - ARKO Petroleum's shares opened at $17.75, slightly below the IPO price of $18, which was set during an upsized offering of 11.11 million shares to raise $200 million [1]. - The recent volatility in the market has made investors cautious, affecting the performance of newly listed companies, including ARKO Petroleum [1]. Industry Context - There is a notable trend of increased activity in the U.S. IPO pipeline, driven by pent-up demand for public market access, despite recent market fluctuations [1]. - Other companies that went public recently, such as York Space Systems and Ethos Technologies, are trading below their IPO prices, indicating a broader concern among investors regarding post-listing performance [1].

Core Insights - The focus of the U.S. tech capital market has shifted towards debt financing to support the rapid expansion of AI infrastructure, with global tech and AI-related bond issuance expected to approach $1 trillion by 2025, up from $710 billion [1][2] - Major tech companies, including Alphabet, Amazon, Meta, and Microsoft, are projected to have a combined capital expenditure and financing lease of $700 billion this year to meet unprecedented demand for computing resources [1] - There is an estimated $1.5 trillion financing gap in the AI infrastructure sector, primarily to be filled by the debt market, leading to increased concentration risk in investment-grade corporate bond indices [1][4] Debt Market Expansion - UBS estimates that global tech and AI-related debt issuance will more than double by 2025, reaching $710 billion, and could approach $990 billion by 2026 [2] - Oracle and Alphabet are leading the current wave of bond issuance, with Oracle planning to raise $45 billion to $50 billion this year and successfully issuing $25 billion in bonds [2] IPO Market Status - The U.S. tech IPO market remains quiet, with no major tech companies filing for public offerings this year, contrasting sharply with the surge in debt financing [3] - Elon Musk's recent merger of SpaceX and xAI has created a new entity valued at $1.25 trillion, but there are doubts about whether SpaceX will pursue an independent IPO [3] Concentration and Cost Concerns - The weight of the tech sector in investment-grade corporate bond indices is expected to rise from 9% to the low double digits, raising concerns about concentration risk [4][5] - The intense bond issuance by tech giants may crowd out demand for other issuers, leading to higher yields and increased financing costs across the market [5][6]

Core Viewpoint - Forgent Power Solutions celebrates its recent IPO with a notable share price increase of 22% since trading began [1] Group 1: IPO Activities - Forgent Power Solutions (NYSE: FPS) had its IPO in early February and is marking the occasion by ringing the Opening Bell [1] - Veradermics (NYSE: MANE) also recently completed its IPO, with shares rising more than 150% since pricing [1] Group 2: Market Insights - The NYSE Texas Advisory Board has been launched to support public companies in the Southwestern U.S. [1] - The U.S. economy added 130,000 jobs according to the Bureau of Labor Statistics, leading to mixed market reactions [1]

Core Viewpoint - The current focus in tech capital markets is on debt financing rather than equity, driven by significant capital expenditures for AI development among major tech companies [1][3]. Group 1: Debt Financing Trends - The four major tech companies—Alphabet, Amazon, Meta, and Microsoft—are expected to spend nearly $700 billion in 2023 on capital expenditures and finance leases to support AI initiatives [2]. - UBS projects that global tech and AI-related debt issuance, which more than doubled to $710 billion last year, could rise to $990 billion by 2026 [4]. - Morgan Stanley anticipates a $1.5 trillion financing gap for AI development, primarily to be filled by debt as companies move away from self-funding [4]. Group 2: Major Corporate Debt Issuances - Oracle plans to raise between $45 billion and $50 billion in 2023, having already sold $25 billion in high-grade debt [6]. - Alphabet has increased its bond offering to over $30 billion, following a previous $25 billion debt sale [6]. - Amazon has filed for a mixed shelf registration to potentially raise both debt and equity, while Meta is exploring external financing options to enhance cash flow [7]. Group 3: Market Dynamics and Investor Sentiment - The corporate debt market has seen a "monumental" increase, with significant sales from companies like Oracle and Alphabet [5]. - Despite the high demand for tech bonds, there are concerns about the sustainability of this debt influx, as it may lead to higher yields and costs for other borrowers [21][22]. - The concentration of tech companies in corporate bond indexes raises concerns about market stability, with tech now comprising about 9% of investment-grade corporate debt indexes [19]. Group 4: IPO Market Outlook - There have been no notable IPO filings from U.S. tech companies in 2023, with attention focused on potential public offerings from SpaceX, OpenAI, and Anthropic [9][11]. - Analysts expect around 120 IPOs this year, raising approximately $160 billion, a significant increase from the previous year [11]. - The current market conditions are not favorable for venture-backed startups, with volatility and geopolitical concerns keeping many on the sidelines [12].