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CoreWeave (NASDAQ: CRWV), a prominent AI hyperscaler, has announced the acquisition of Core Scientific (NASDAQ: CORZ), a leading data center infrastructure provider, in an all-stock transaction valued at approximately $9 billion. Under the agreement, Core Scientific shareholders will receive 0.1235 newly issued CoreWeave Class A common shares for each Core Scientific share held.

This move, following CoreWeave’s IPO in March 2025, positions the company to take direct control of its data center assets—owning roughly 1.3 GW of gross power capacity across Core Scientific’s national footprint, with an additional 1 GW+ available for future expansion.

Michael Intrator, CEO and Co-Founder of CoreWeave, stated, “This acquisition strengthens our ability to deploy AI and HPC workloads at scale. By owning Core Scientific’s high-performance infrastructure, we enhance operational efficiency and reduce risks associated with future growth.”

The deal is expected to bring substantial strategic benefits, including:

Adam Sullivan, CEO of Core Scientific, commented, “As long-term partners, we share a commitment to excellence. This merger accelerates our shared goal of delivering top-tier infrastructure for AI-driven innovation while maximizing shareholder value.”

The transaction is expected to close in Q4 2025, subject to regulatory approvals and a vote by Core Scientific shareholders. Upon completion, Core Scientific investors will hold under 10% of the combined entity. The deal values Core Scientific at $20.40 per share—a 66% premium over its closing price on June 25, 2025.

The acquisition not only consolidates CoreWeave’s infrastructure but also positions the company to lead the next phase of AI and HPC innovation with a more robust, vertically integrated foundation.

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News Source: Businesswire.com

Alibaba Group Holding Limited has unveiled plans to raise approximately HK$12 billion through a private offering of zero coupon exchangeable bonds, linked to its subsidiary Alibaba Health Information Technology Limited. The bonds, which mature in 2032, will be offered to select non-U.S. investors outside the United States under Regulation S of the U.S. Securities Act.

These unsecured and unsubordinated bonds will not carry interest and may be exchanged for Alibaba Health shares, cash, or a combination of both, based on terms set at issuance. Bondholders can opt to convert their bonds from the 41st day after issuance up to five trading days before maturity.

Alibaba Health, listed on the Hong Kong Stock Exchange (HKEX: 00241), is a key healthcare platform in Alibaba’s ecosystem. The group holds a 64% equity stake in the company and plans to maintain its controlling interest post-issuance. Alibaba reaffirmed its commitment to deepening its “AI + Healthcare” strategy alongside Alibaba Health.

Proceeds from the offering will be directed toward general corporate purposes, including expanding cloud infrastructure and growing international commerce operations.

As part of the offering, investors may engage in hedging strategies such as short selling Alibaba Health shares or entering into related derivative positions. To support this, Alibaba has arranged a Delta Placement, where a subsidiary will lend Alibaba Health shares to facilitate hedging by institutional investors via bookrunners.

These securities, including the bonds and any Alibaba Health shares issued upon exchange, will not be registered under U.S. securities laws and cannot be sold within the United States without proper registration or exemption.

While the bond issuance and associated Delta Placement are subject to market conditions, Alibaba has emphasized that no assurance can be given regarding their completion.

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News Source: Businesswire.com

Fifth Third Wealth Advisors®, a registered investment advisory firm operating on a multi-custodial model, has surpassed $3 billion in net new assets under management (AUM) as of June 30, marking a significant growth milestone for the firm.

This achievement reflects continued momentum driven by increasing demand from both clients and financial advisors. Independent research ranks the firm among the top 500 independent RIAs in the U.S.

“Our growth is a direct result of the confidence clients place in us and the caliber of advisor teams we’re bringing on board,” said Eric Housman, President of Fifth Third Wealth Advisors. “We are focused on building a platform that empowers advisors with autonomy, advanced tools, and flexibility to deliver superior client results.”

In line with its expansion strategy, the firm has added Charles Schwab as a custodial option, enhancing its platform’s flexibility and offering clients more choice. Additionally, it has partnered with SS&C’s Black Diamond® Wealth Platform, a cloud-native solution designed to deliver personalized and sophisticated wealth management experiences.

“These enhancements support our broader goal to grow with intention,” added Housman. “By investing in top-tier infrastructure, technology, and relationships, we’re ensuring long-term value for both advisors and clients.”

Fifth Third Wealth Advisors serves clients across the U.S., with offices in Atlanta, Naples, Tampa, Springfield (IL), Westchester (NY), Charlotte, Winston-Salem, Dallas, and Pittsburgh. The firm remains actively focused on recruiting advisory teams seeking independence, innovation, and high-touch client service.

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News Source: Businesswire.com

In a bold move to democratize wealth-building opportunities, State Street Corporation (NYSE: STT) and UC Investments have entered a strategic partnership to give individuals access to the kind of sophisticated investment tools typically reserved for large institutions and the ultra-wealthy.

This initiative merges advanced investment technologies and artificial intelligence to open up broader access to private markets and personalized financial planning tools. Central to the plan is the development of a comprehensive “superapp,” designed to offer a seamless, all-in-one investment management experience for the 353,000 participants in the University of California’s defined contribution plan. Eventually, the platform may extend to UC’s wider community, including nearly 300,000 students and over two million alumni.

“This alliance deepens our long-standing partnership with UC Investments,” said Ron O’Hanley, Chairman and CEO of State Street. “Together, we’re using innovation to improve financial outcomes for individuals and their families.”

As the world’s fourth-largest asset manager, State Street oversees nearly $5 trillion in assets, including over $1.1 trillion in products for individual investors. The firm also supplies critical investment software and services for wealth managers globally. Currently, State Street manages $110 billion of UC Investments’ $193 billion portfolio and handles custody services for most of it.

For UC Investments, the partnership represents a continued push toward financial inclusion. It builds on its 2024 initiative that made the Blue & Gold Endowment Pool available to individual savers and a 2017 collaboration with State Street to offer Deferred Lifetime Income, an annuity option for UC Retirement Plan participants.

“We’re excited to expand our work with State Street,” said Jagdeep Singh Bachher, UC’s Chief Investment Officer. “This is about empowering every UC community member to take control of their financial future using the same caliber of tools available to institutional investors.”

The upcoming platform aims to transform the investor journey—delivering AI-powered planning, simplified access to private markets, and improved financial literacy. Through this effort, State Street and UC Investments are setting the stage for a more inclusive and forward-looking approach to personal finance.

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News Source: Businesswire.com

Oracle has announced plans to invest over $1 billion in Spain, aiming to strengthen its cloud and AI presence across the country. As part of this initiative, the company will establish a third cloud region to better serve Spain’s financial institutions and other critical industries.

The new cloud region is designed to enhance operational resilience and support the growing demand for Oracle Cloud Infrastructure (OCI). Businesses in Spain will benefit from OCI’s advanced capabilities, including high performance computing, integrated AI tools, robust security features, and distributed cloud technologies. This strategic expansion underscores Oracle’s commitment to accelerating digital transformation across key sectors in Spain.

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News Source: Businesswire.com

As enterprises shift from single-sale transactions to recurring revenue models, advanced revenue lifecycle management (RLM) platforms are playing a pivotal role in driving automation, reducing errors, and improving long-term profitability, according to new research from Information Services Group (ISG) (Nasdaq: III).

The ISG Buyers Guides™ for Revenue Lifecycle Management, released by ISG Software Research, evaluates 42 software providers across six key areas: Revenue Lifecycle Management, Revenue Platforms, Revenue Recognition, Contract Lifecycle Management (CLM), Configure Price Quote (CPQ), and Billing.

The research identifies a growing demand for unified RLM solutions that replace outdated quote-to-cash processes with integrated platforms. These systems streamline quoting, contracting, order fulfillment, and billing—digitizing workflows to eliminate handoffs and errors. According to ISG, companies leveraging modern platforms gain deeper insights into customers and operations, ultimately enhancing the customer experience and revenue consistency.

“Businesses across industries must embrace new pricing and revenue models to stay competitive,” said Stephen Hurrell, Director at ISG Software Research. “Legacy systems can’t keep up with the pace of innovation.”

Despite technological advances, ISG predicts over half of organizations will still rely on manual quote-to-contract integrations through 2026, risking inefficiencies and customer dissatisfaction.

Conga, Oracle, and BillingPlatform led the rankings across multiple categories, with Conga emerging as the top performer in RLM, CLM, and CPQ. Salesforce, Zoho, and Zuora also received exemplary ratings in several categories, while SAP earned recognition for innovation.

Here are the top-ranked Overall Leaders in each category:

Evaluation was based on seven criteria: five product-related (usability, manageability, reliability, capability, adaptability) and two customer assurance factors (validation and total cost of ownership/ROI). Providers with the highest performance across these dimensions were named as Leaders and Overall Leaders.

“Effective revenue lifecycle management is vital for delivering strong customer experiences,” said Mark Smith, Partner and Chief Software Analyst at ISG. “Our guide helps companies identify the right solutions to modernize and reduce operational costs.”

ISG’s research is based on over a year of independent analysis and offers one of the most in-depth assessments of RLM tools available. The full reports are available upon request, with executive summaries accessible online.

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News Source: Businesswire.com

PureFacts Financial Solutions has been named the exclusive provider for revenue management and advisor compensation solutions for BNY Pershing’s clientele. This strategic move will empower Pershing clients with robust billing, incentive planning, and compensation management tools through PureFacts’ advanced platform.

The collaboration aligns closely with BNY Pershing’s Wove suite—designed to simplify and modernize wealth management operations—offering firms integrated tools to drive efficiency and improve advisor engagement.

“No other offering in the market matches the caliber of capabilities found in Wove, especially when paired with PureFacts’ innovative solutions,” said Noam Tasch, Head of Platform Sales at BNY Pershing. “This partnership reinforces our mission to streamline and scale the wealth management experience.”

Pete Hess, President of PureFacts, added, “By combining PureFacts’ analytics-driven revenue insights with Wove’s advisory tools, we’re enabling firms to uncover lost revenue and implement effective compensation strategies that drive growth.”

Together, PureFacts and BNY Pershing aim to elevate how advisory firms manage revenue and performance, ensuring stronger financial outcomes and a more impactful advisor experience.

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News Source: Businesswire.com

Syncro, a top-tier platform tailored for growing Managed Service Providers (MSPs) and IT teams, has introduced Universal Billing, a game-changing feature designed to solve a common industry pain point: missed billing for third-party licenses.

This latest enhancement seamlessly integrates third-party license data from Syncro Marketplace vendors into its recurring billing engine. By removing the need for manual reconciliation between vendor reports and Professional Services Automation (PSA) tools, MSPs can now significantly cut down on billing errors and administrative overhead while reclaiming missed revenue opportunities.

“If you ask any MSP if they’ve lost money due to missed or misbilled licenses, every hand would go up — mine included,” said Andy Cormier, Channel Chief at Syncro. “Universal Billing is our way of making the lives of billing admins easier. Manual reconciliation is inefficient and error-prone. This feature changes that.”

Universal Billing pulls daily license data from supported vendors, automatically mapping it to the correct clients and updating recurring invoices with precision, even as license usage fluctuates. At launch, the system integrates with Proofpoint, with plans to support all Marketplace tools by the end of the year — including Microsoft licensing via Syncro’s XMM™ platform.

Early adopters are already seeing results. Philip Semplice, CEO of SafSecur, shared, “We transitioned our Proofpoint instance to Syncro and immediately stopped having to manually update invoices. It works flawlessly, and the transition had zero operational impact.”

The feature is built with scalability in mind and offers several standout benefits:

Tom Bull, CEO of Two River Computer, added, “During setup, we uncovered several unbilled Proofpoint licenses — an instant win. Now we no longer spend time reconciling counts. Universal Billing is a major timesaver and revenue booster.”

As MSPs juggle a growing list of services and vendors, accurate billing becomes increasingly complex. Syncro’s Universal Billing simplifies that process, empowering MSPs to focus on growth without sacrificing profitability.

The feature is now live and available to all Syncro users.

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News Source: Businesswire.com

FinTech firm Tensec has raised $12 million in fresh funding to expand its real-time cross-border payment services. This funding round aims to equip companies—especially small and medium-sized businesses (SMBs)—with access to financial tools that have traditionally been exclusive to large institutions.

According to CEO and co-founder Helcio Nobre, SMBs contribute to nearly half of the global trade market but often lack access to modern financial infrastructure. Tensec is shifting this narrative by enabling trading firms to offer direct financial services, helping make international commerce faster, more cost-effective, and more inclusive.

The company’s platform leverages artificial intelligence, real-time payment systems, and a global FinTech network to offer FX, treasury, and other cross-border financial solutions. This is a significant move in a $190 trillion global payments industry, where SMB needs have been historically underserved.

Despite innovations in the consumer and enterprise payment sectors, cross-border payments for SMBs continue to lag. Nobre pointed out that outdated legacy systems built by traditional banks no longer meet the demands of today’s fast-paced trade environment. “We’re bypassing the old infrastructure to give trading companies the tools to build their own financial service offerings,” he said.

Recent research from PYMNTS highlights the persistent hurdles SMBs face, including concerns around digital wallets—such as lack of standardization, partner acceptance, and security risks. However, these challenges present a clear opportunity for FinTechs to simplify onboarding, ensure compliance, and improve global interoperability to better serve this overlooked market segment.

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News Source: Pymnts.com

Pelico recently secured $40 million, propelling the company to accelerate the growth of its artificial intelligence-powered supply chain orchestration platform for manufacturing operations in North America. This latest funding round brings Pelico’s total funding to $72 million.

The company’s platform currently operates in over 15 countries, supporting more than 1,000 factories worldwide. Notably, half of the top 10 aerospace and defense companies currently leverage Pelico’s solution.

Pelico founder and CEO Tarik Benabdallah explained the company’s mission: “We started Pelico in 2019 to solve the dilemma that a single late part can halt a billion-dollar production and limit the ability to innovate. Our AI-powered co-pilot is built to solve this by creating a connected, real-time view of supply chain operations.”

The platform effectively synchronizes teams and processes, eliminating challenges stemming from siloed teams and fragmented supply chains. This enhances decision-making, fosters collaboration, and improves responses to disruptions.

Companies using the Pelico platform have experienced significant improvements, including an average 40% reduction in parts shortages, a 40% decrease in maintenance and repair operations (MRO) cycle times, and a 15% increase in on-time deliveries.

Larry Bohn, managing director at General Catalyst, which led the funding round, emphasized the critical need for resilient supply chains. “Supply chain fragmentation is one of the most urgent challenges in global manufacturing,” Bohn stated. “We saw Pelico’s potential to transform complexity into clarity by turning operational data into fast, actionable insights. In today’s turbulent world, ensuring resilient and intelligent supply chains isn’t just a competitive edge — it’s a necessity.”

This investment aligns with broader industry trends. A collaboration between PYMNTS Intelligence and Corcentric, detailed in their report “Digital Payments: Modernizing Procurement Processes,” highlights increased business investment in technologies that boost procurement efficiency. Among manufacturers, 42% are already investing in upgrading their procurement technology, with an additional 44% planning future investments.

In a related development this February, Cleo acquired DataTrans Solutions (DTS) to further build “next-gen procurement automation,” integrating DTS’ capabilities into Cleo’s supply chain orchestration solution.

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News Source: Pymnts.com

Nerdio, a leader in automated end-user computing (EUC) management for Microsoft Cloud, has surpassed $100 million in annual recurring revenue (ARR) within just five years. The company credits its 85% year-over-year growth to rising enterprise demand for cloud automation, artificial intelligence, and simplified IT management at scale.

Following a $500 million Series C funding round that pushed its valuation beyond $1 billion, Nerdio continues to accelerate as organizations increasingly shift from legacy VDI systems to cloud-based solutions like Microsoft Azure, Windows 365, and Intune.

“Managing Microsoft Cloud environments at scale is inherently complex,” said Vadim Vladimirskiy, Co-Founder and CEO of Nerdio. “We eliminate that complexity with automation, helping IT teams move faster, reduce costs, and increase efficiency.”

In the past year alone, Nerdio added over 400 enterprise customers, bringing its global client base to more than 15,000 organizations across 50+ countries. Major brands such as Chevron, Kraft Heinz, Setfords, and Sage trust Nerdio to handle and scale their Microsoft Cloud operations.

The platform automates core cloud tasks like provisioning virtual desktops, setting policies, and managing user access. It also optimizes cloud spend, ensures compliance, and enables right-sizing of infrastructure through intelligent automation.

Nerdio’s expanding suite of AI-powered tools is reshaping IT operations. With features like proactive issue detection, AI-generated scripts, and actionable recommendations, the platform empowers IT teams to operate more effectively—even without deep Azure expertise.

In addition to its $100 million ARR milestone, Nerdio’s recent achievements include:

“We’ve grown by staying laser-focused on solving real customer problems with capital-efficient execution,” said Joseph Landes, Co-Founder and CRO. “This milestone is a reflection of that discipline and of our partnership with Microsoft.”

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News Source: Globenewswire.com

Gorilla Technology Group Inc. (NASDAQ: GRRR), a leading global provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced its robust financial results for the first quarter ended March 31, 2025. The company demonstrated significant growth, global execution, and sustained momentum, driving a 109% year-on-year revenue increase.

Gorilla Technology’s Q1 2025 revenue surged to $18.3 million, highlighting exceptional growth fueled by several critical global agreements. This performance underscores Gorilla’s operational strength, market credibility, and leadership in AI-powered security and infrastructure solutions.

The company maintains a strong financial position, closing Q1 with a healthy $33.8 million in total cash reserves, including $20.8 million in unrestricted cash. Gorilla strategically reduced its debt to $18.4 million, down from $21.4 million at year-end 2024. This disciplined debt reduction enhances capital efficiency and frees up pledged deposits, reinforcing a balance sheet built for scalability and speed.

Gorilla also reported significant gains in profitability metrics. Adjusted EBITDA reached $5.16 million, marking a 47.5% increase from $3.50 million in Q1 2024, demonstrating expanding operating leverage and a profitable growth trajectory. Adjusted net income rose by 46.7% to $4.47 million, compared to $3.05 million in the prior-year quarter, showcasing strong underlying earnings power and effective margin control despite global expansion. Furthermore, Adjusted EPS climbed to $0.23, a sharp turnaround from a basic loss per share of $1.47 in Q1 2024.

The company made a strategic SAFE investment in One Amazon, solidifying a pivotal partnership in global sustainability. As the core technology partner, Gorilla is deploying large-scale IoT infrastructure across the Amazon rainforest, cementing its position as a front-runner in climate intelligence and next-generation environmental innovation.

Gorilla Technology continues to accelerate its global momentum, with its qualified pipeline now exceeding $5 billion. This robust pipeline, featuring leads with clear intent and budget, is a result of rapid expansion across the United States, MENA, Southeast & East Asia, South America, and the United Kingdom. The company’s growing contract base, proven execution track record, and strong market demand position it as a global force in AI-powered transformation.

Jay Chandan, CEO of Gorilla Technology, stated, “Gorilla launched into 2025 with power, precision, and clarity of purpose. This quarter proves our trajectory. Revenue is up, margins are firm, and profitability is now embedded. With momentum on our side, we are converting our pipeline at scale, compounding growth across borders, and deepening trust with the world’s most ambitious partners.”

Chandan added, “From reshaping energy infrastructure in Thailand to enabling climate-tech at scale in the Amazon, Gorilla is quickly becoming the default partner for governments and mid-sized enterprises looking to future-proof their nations. With a strong revenue pipeline and cash base, alongside our relentless operational focus, we are entering our next phase – one of acceleration, execution, and measurable value creation.”

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News Source: Finance.Yahoo.com