Seeking Alpha’s roundup of statements, announcements, and remarks that could impact the technology sector.
- OpenAI (OPENAI) has agreed to buy $38 billion’s worth of capacity from Amazon’s (AMZN) AWS, its first deal with the cloud giant.
Under the deal, OpenAI will run workloads on AWS’s existing infrastructure with Nvidia (NVDA) GPUs, with plans to expand capacity.
“It’s completely separate capacity that we’re putting down,” said Dave Brown, AWS’s vice president of compute and machine learning services, in an interview with CNBC. “Some of that capacity is already available, and OpenAI is making use of that.”
OpenAI counts Microsoft (MSFT) as a major investor.
- Xanadu Quantum Technologies is planning to go public via a SPAC merger with Crane Harbor Acquisition Corp. (CHAC), with the combined company expected to have an enterprise value of around $3.1 billion and a market capitalization of around $3.6 billion.
The merger should generate around $500 million in cash proceeds, assuming no redemptions and including a $275 million PIPE financing, according to a Crane Harbor statement.
After the merger, Xanadu will become the “first and only publicly traded pure play photonic quantum computing company,” with shares expected to trade on Nasdaq and the Toronto Stock Exchange, Crane added.
- Beta Technologies (BETA) reportedly plans to price shares above its previously stated range when it prices its IPO Monday night.
The electric aircraft developer is looking to price its shares at $34 per share, which would give it a market value of around $7.6 billion, according to Bloomberg.
In an SEC filing last month, Beta said it was looking to offer 25 million shares, priced between $27 and $33 per share.
Shares are expected to trade on NYSE under the symbol BETA. Major investors in the company include General Electric (GE) and Amazon (AMZN).
Other leading developers of electric aircraft include Joby Aviation (JOBY) and Archer Aviation (ACHR).