Finance

• OpenAI, Visa Team Up to Let AI Agents Make Purchases Online
  OpenAI and Visa Inc. are now allowing artificial-intelligence agents to make purchases online after users give their permission, part of an expansion of a previously announced pact between the two technology companies.
• Carlyle Seeks Roughly $15 Billion for New Flagship PE Fund
  Carlyle Group Inc. kicked off fundraising for its ninth flagship fund, looking to match the $14.8 billion raised by the previous version and show momentum in its buyout group.
• Warburg CEO Calls IPO Market ‘Broken’ Even Amid Giant Offerings
  The hurdle for US initial public offerings remains hard to clear for closely held companies even as SpaceX, Anthropic PBC and OpenAI dominate headlines with their outsize stock-sale plans, said Jeffrey Perlman, chief executive officer of private equity firm Warburg Pincus.
• Apollo’s Zito Says Too Much AI Spending Is for ‘Low IQ’ Tasks
  Apollo Global Management’s John Zito said too many companies are deploying artificial intelligence tools for relatively mundane tasks that don’t justify the significant costs and computing power.
• Stableton to Double Investments This Year as It Pushes Into US
  Stableton Financial, a backer of private technology companies, plans to double its investments this year as it expands into the US.
• Apollo’s Kleinman Says AI to Come for Professional Services Next
  Professional services, including law firms, accountancies and consulting firms, are likely to be the next sector to face disruption from artificial intelligence, according to Apollo Global Management Inc.’s co-president, Scott Kleinman.
• Private Credit Is Still a Hot Asset for Bond Investors Buying Debt
  As shareholders rush to pull money from private credit funds over troubling questions about software exposure, opaque loan values and non-payments, some bond investors are doing the opposite: buying their debt.
• Trump Heaps Praise on Citi for M&A Ranking It Doesn’t Have
  President Donald Trump turned into a M&A enthusiast, with a surprise shout-out for Citigroup Inc. Chief Executive Officer Jane Fraser.
• Ron Baron’s SpaceX Wealth Fuels New York-Focused Philanthropy
  Ron Baron has spent decades making big bets on companies others doubted. His latest wager is on New York City.
• Commerzbank Raises More Concerns Tied to UniCredit Bid
  Commerzbank AG expressed fresh doubts whether the rising acceptance level of UniCredit SpA’s takeover bid is a full reflection of investor support.
• AI Data Firm DDN Eyeing a Fresh Funding Round by End of Year
  DDN, a data hardware and software provider that counts Nvidia Corp. as a partner and Alphabet Inc.’s Google and Salesforce Inc. as customers, is looking to raise additional funding by the end of the year, Chief Executive Officer Alex Bouzari said.
• Creative Artists, TPG Back $250 Million Fund for YouTube Talent
  Creative Artists Agency, Hollywood’s biggest talent representative, is starting a new company to invest in YouTube stars and podcasters who want to be the next Oprah Winfrey or Reese Witherspoon.
• Drugmaker Parabilis Soars 67% After $745 Million IPO, Placement
  Parabilis Medicines Inc. shares jumped as much as 67% in its trading debut, after the company raised nearly $745 million in an upsized US initial public offering that priced above its marketed range and a private placement.
• ExodusPoint Raises $2 Billion With Abu Dhabi Fund Among Backers
  Hedge fund ExodusPoint Capital Management has raised $2 billion in new cash, joining peers in tapping investors seeking the relatively steady returns offered by multistrategy firms.
• Google’s Backstops Underpin $35 Billion Chip Deal for Anthropic
  Google was one of Anthropic PBC’s earliest investors, repeatedly buying equity in the artificial intelligence firm. Now it’s increasingly backstopping the financing that underpins data centers for the startup, underscoring the complex business ties among the handful of largest tech companies pouring money into AI.
• Millennium Allocates $800 Million to Credit Hedge Fund Mycor
  Millennium Management is allocating $800 million to credit-focused Mycor Capital Management, the latest in its spree of parceling out cash to external hedge funds.
• Australia’s Steadfast Group Gets Offer From Amwins, Dragoneer
  Australian insurance broker Steadfast Group Ltd. received a buyout offer from Amwins Group Inc. and Dragoneer Investment Group LLC.
• China’s Inflation Split Widens as AI, War Stir Up Factory Prices
  China’s consumer inflation unexpectedly stalled in May even as factory prices gained at the fastest pace in almost four years, storing up risks for company profits as poor demand at home seals off the economy from a global commodities rally.
• Ashley’s Frasers Seeks to Buy Rest of Boss for $2.3 Billion
  Frasers Group Plc offered to buy the rest of Hugo Boss AG for about €2 billion ($2.3 billion) as billionaire Mike Ashley seeks to add another fashion brand to his growing collection.
• Tether Backs German Robotics Startup Neura in $1.4 Billion Round
  German startup Neura Robotics has raised about $1.4 billion in a funding round backed by stablecoin issuer Tether Holdings SA to develop and ship its artificial intelligence-powered humanoid robot.