Startups

Deal Dispatch: QXO Nabs TopBuild For $17 Million, Voya Financial Urged To Evaluate Strategic Options, Pat McGrath Exits Chapter 11

Caroline Ryan — Fri, 24 Apr 2026 18:27:42 +0000

New On The Block

Rayonier Advanced Materials Inc. (NYSE:RYAM) is in the formal process of exploring strategic alternatives to maximize shareholder value. The company has hired Morgan Stanley as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal counsel in the process.

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) has retained Houlihan Lokey as financial advisor to support a Special Committee of its independent directors in evaluating strategic alternatives. The committee is reviewing a range of potential strategic, financial, and structural options. No timeline has been set for completing the process, and no decisions have been made at this stage.

Digital asset treasury company BNB Plus Corp. (NASDAQ:BNBX) has announced a formal review of strategic alternatives, not limited to a merger, asset sale, or other strategic transaction, in an effort to maximize shareholder value. The company is initially focusing its review on market sectors it believes have "potential for high growth," including artificial intelligence infrastructure, digital infrastructure, critical domestic raw materials, defense technologies, and healthcare, among others. BNB has hired Lucid Capital Markets as its financial advisor to assist in the strategic review process.

Franklin Street Properties Corp. (NYSE:FSP), a real estate investment trust (REIT), hired BofA Securities and Jones Lang LaSalle Securities as co-financial advisors to explore strategic alternatives to maximize shareholder value.

Toms Capital Investment Management, an activist shareholder, has built a notable position in Voya Financial and is urging the company to evaluate strategic options, such as a full sale or divestiture of its health insurance segment.

Updates From The Block

QXO, Inc. (NYSE:QXO) has entered into a definitive agreement to acquire TopBuild Corp. (NYSE:BLD) for approximately $17 billion, expanding QXO's scale and capabilities across the building products value chain. The acquisition is expected to close in the third quarter of 2026.

Eli Lilly (NYSE:LLY) has agreed to acquire clinical-stage biotechnology firm Kelonia Therapeutics for up to $7 billion. The transaction is expected to close in the second half of 2026, subject to regulatory approval.

Blue Owl ...

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Anthropic Targets EU Data Center Market With A Six-Figure Recruitment Drive: Report

Namrata Sen — Thu, 23 Apr 2026 13:13:11 +0000

Anthropic is reportedly on a hiring spree to secure European data center deals.

The Dario Amodei-led company has posted a job advertisement for a principal role based in London.

A source disclosed to CNBC that Anthropic is evaluating deals to directly acquire data center capacity from developers globally. The ‘Transaction Principal’ role, with a salary range of £225,000 ($303,806) to £270,000 ($364427), will be instrumental in securing the infrastructure that powers Anthropic's advanced AI systems in Europe.

The role involves sourcing European data center deals, engaging developers, and negotiating commercial term sheets, the report said. The ideal candidate is reportedly expected to have experience in data center markets across major European hubs (FLAP-D cities) as well as the Nordics and Southern Europe.

The AI startup is also seeking to hire for a comparable position in Australia, it added.

Anthropic did not immediately respond to Benzinga’s request for comments.

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Microsoft Reportedly Eyed Cursor Before SpaceX's $60 Billion Deal— But Chose Not To Proceed

Namrata Sen — Thu, 23 Apr 2026 08:34:03 +0000

Microsoft Corp. (NASDAQ:MSFT) had been reportedly eyeing AI coding startup Cursor before SpaceX made headlines with its $60 billion acquisition option of the company.

The Satya Nadella-led company’s interest in Cursor was part of its strategy to expand its artificial intelligence tools in the rapidly growing AI market.

However, the tech giant ultimately chose not to move forward with a bid, CNBC reported on Wednesday.

Microsoft and Cursor did not immediately respond to Benzinga‘s request for comments.

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AI Coding Race Heats Up As Cursor Leads

This revelation comes at a time when Microsoft is ...

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OpenAI CEO Sam Altman Slams Anthropic's 'Fear-Based Marketing' Strategy For Claude Mythos: 'We Have Built A Bomb...'

Namrata Sen — Wed, 22 Apr 2026 08:58:30 +0000

OpenAI CEO Sam Altman criticized the cybersecurity marketing strategy of rival company, Anthropic for its newly launched cybersecurity product, Claude Mythos.

During a Core Memory podcast interview where he appeared alongside OpenAI President Greg Brockman on Tuesday, Altman called the tactic “fear-based marketing” aimed at restricting the dissemination of artificial intelligence (AI) technology to a select few, reported Tech Crunch.

"You can justify that in a lot of different ways,” said Altman.

Altman further used a metaphor to illustrate his point, likening Anthropic’s strategy to selling a bomb shelter while threatening to drop a bomb.

‘We have built a bomb, we are about to drop it on your head. We will sell you a bomb shelter for $100 million," he added.

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Elon Musk To Retain Dominant Voting Power In SpaceX Post-IPO, Buys $1.4 Billion Worth Of Shares: Report

Namrata Sen — Tue, 21 Apr 2026 10:28:38 +0000

SpaceX’s IPO filing reportedly indicates that founder Elon Musk and a select group of insiders will maintain substantial voting control in the company post-IPO, thereby ensuring their voting power surpasses that of other investors.

Following the IPO, Musk will continue to serve as the CEO, CTO, and chairman of the nine-member board of directors, Reuters reported on Tuesday.

SpaceX plans to adopt a dual-class equity structure, with Class B shareholders receiving 10 votes each, thereby consolidating power with Musk and a few insiders. Class A shares sold to public investors will carry one vote each.

The filing includes provisions that may limit shareholders' influence over board elections and legal actions, a structure common in founder-led tech firms that reduces public investors' power over strategy and management, according to Reuters.

The confidentially submitted filing, earlier this month, sheds light on SpaceX’s financial health and corporate governance. The combined company ended 2025 with $24.8 billion in cash and a strong balance sheet, holding $92 billion in assets ...

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Zoom Partners With Sam Altman's World To Tackle AI Imposters In Meetings

Mohd Haider — Sat, 18 Apr 2026 07:03:18 +0000

Video meeting platform Zoom (NASDAQ:ZM) has joined forces with Sam Altman-founded human ID verification network World, aiming to authenticate the identities of meeting attendees and offer customers more ways to incorporate trust into their workflows.

World, which was developed in 2023 by Tools for Humanity, a technology company co-founded in 2019 by Altman and Alex Blania.

How It Works

The feature uses World’s World ID Deep Face technology, which employs a three-step process to confirm a participant’s authenticity. This includes cross-referencing a signed image from the user’s registration, a real-time face scan from the user’s device, and a live video frame visible to other meeting participants. A “Verified Human” badge will appear on a participant’s title only when all three verifications match.

According to Zoom, Deep Face Waiting Room requires participants to verify they are ...

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AI Coding Startup Cursor Set For $2 Billion Funding Round, Nearly Doubling Valuation With Nvidia Backing: Report

Mohd Haider — Sat, 18 Apr 2026 05:52:25 +0000

AI coding startup Cursor is reportedly close to securing at least $2 billion in fresh capital at a $50 billion pre-money valuation, nearly doubling its valuation from six months ago, as venture capital firms Thrive Capital and Andreessen Horowitz prepare to lead an already oversubscribed round.

Nvidia Among Expected Backers

According to a TechCrunch report published Friday, technology-focused investment firm Battery Ventures is expected to join the funding round as a new investor. Strategic investor Nvidia (NASDAQ:NVDA) is also expected to take part. However, the terms of the deal have not yet been finalized and could still change.

If completed, this funding would nearly double Cursor's previous post-money valuation of $29.3 billion, which was set ...

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Trump Appears Unaware Of Anthropic CEO Visit As White House Calls Meeting 'Constructive' Weeks After Blacklist

Ananya Gairola — Sat, 18 Apr 2026 02:26:06 +0000

On Friday, the White House signaled a possible reset with Anthropic even as President Donald Trump appeared unaware of the CEO's high-level visit.

White House-Anthropic Talks Signal Possible Thaw

The White House described the meeting with Anthropic CEO Dario Amodei as "productive" and "constructive," CNBC reported.

Amodei met senior officials, including Chief of Staff Susie Wiles and Treasury Secretary Scott Bessent, to discuss collaboration and guardrails around advanced AI systems.

The administration said the talks focused on balancing innovation with "safety" and managing risks tied to scaling powerful models.

Anthropic echoed the tone, calling the discussion "productive," in a statement to the publication.

Trump's ‘Who?' Remark Raises Questions

Despite the high-level engagement, ...

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OpenAI Hit By Triple Executive Exit In One Day As 'Side Quest' Era Fades

Mohd Haider — Sat, 18 Apr 2026 02:13:18 +0000

OpenAI lost three senior leaders on Friday as Kevin Weil, head of OpenAI for Science, Bill Peebles, creator of AI video tool Sora and B2B engineering head Srinivas Narayanan announced departures following the AI startup’s strategic pullback from consumer-facing moonshot projects.

OpenAI Kills ‘Side Quests’

The exits also come as the Sam Altman-led company cuts back on “side quests” in favor of enterprise AI and its upcoming “superapp.”

Sora, which was incurring an estimated $1 million per day in compute costs, was shut down last month. OpenAI for Science, the internal research group behind Prism, an AI-powered platform promising to accelerate scientific discovery, is being absorbed into “other research teams,” according to Weil’s social media post.

Weil’s departure comes after his team released GPT-Rosalind, a new model to expedite life sciences research and drug discovery.

Today is my last day at OpenAI, as OpenAI for Science is being decentralized into other research teams. It's been a mind-expanding two years, from Chief Product Officer to joining the research team and starting OpenAI for Science. Accelerating science will be one of the most…

— Kevin Weil 🇺🇸 (@kevinweil) April 17, 2026

Peebles, in ...

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Deal Dispatch: Amazon Buys Globalstar, Instacart Grabs Instaleap, QVC Announces Bankruptcy

Caroline Ryan — Fri, 17 Apr 2026 18:33:13 +0000

New On The Block

Polypeptide Group has announced it is conducting a review of strategic alternatives, including potential partnerships or a sale. The process, which is in coordination with majority shareholder Draupnir Holding B.V., is aimed at enhancing the company's value amid reports from private equity firms such as KKR and EQT.

Reviva Pharmaceuticals (NASDAQ:RVPH) announced it is evaluating strategic alternatives as the company seeks to maximize the value of brilaroxazine (a drug used to treat mental illness such as schizophrenia) and preserve optionality for its stockholders, the firm said in a letter to shareholders.

• Amazon.com shares are trending higher. What’s pushing AMZN stock higher?

Updates From The Block

Amazon.com Inc (NASDAQ:AMZN) entered into an agreement to purchase satellite operator Globalstar, Inc. (NASDAQ:GSAT) for $11.6 billion, in a move to accelerate its satellite internet business, Project Kuiper. The deal also includes a strategic partnership with Apple to continue supporting satellite capabilities for the Apple Watch and iPhone through Find My and Emergency SOS services, which already rely on Globalstar's network.

OpenAI acquired personal finance startup Hiro Finance. Terms of the transaction were not disclosed. Hiro founder Ethan Bloch announced the acquisition on LinkedIn, stating the company would be shutting down its operations on April 20.

Maplebear, which does business as Instacart (NASDAQ:CART), bought Colombian grocery technology firm Instaleap. The company will initially operate as a wholly owned subsidiary of Instacart, Bloomberg reported. Financial terms of the transaction were not disclosed.

Medical technology company Avanos Medical Inc (NYSE:AVNS) agreed to be acquired by American Industrial Partners (AIP) for approximately $1.3 billion. Avanos stockholders will receive ...

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Anthropic Amplifies London Presence Days After OpenAI's UK Expansion

Namrata Sen — Thu, 16 Apr 2026 12:59:50 +0000

Anthropic unveiled its intention to expand its London footprint with a new office that can accommodate 800 employees.

The Dario Amodei-led company currently has over 200 employees in London. The new office will be located in the Knowledge Quarter area of London, which is a hub of several AI firms, including OpenAI, Google DeepMind (NASDAQ:GOOGL) (NASDAQ:GOOG), Meta (NASDAQ:META), Synthesia, and Wayve.

Pip White, Anthropic’s head of EMEA north, told CNBC that London is a key research and commercial hub for Anthropic outside the U.S., and the Knowledge Quarter expansion will support further growth.

According to White, the UK offers a unique blend of ambitious businesses and institutions that comprehend AI safety stakes, coupled with an exceptional pool of AI talent.

Anthropic did not immediately respond ...

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Bryan Johnson Says 'Monk Mode' Founders Are Writing Bad Code, Warns Isolation Is Hurting Startup Performance: 'When You're Not...'

Snigdha Gairola — Thu, 16 Apr 2026 08:16:40 +0000

Tech entrepreneur Bryan Johnson has said startup founders who adopt "monk mode" and cut off relationships may be hurting their productivity and overall performance.

Johnson Challenges ‘Monk Mode’ Mindset

Speaking at Business Insider's "The Long Play" event in San Francisco earlier this week, Johnson pushed back on the idea that dating or sex distracts from entrepreneurial success.

He told interviewer Zak Jason that relationships can be beneficial rather than harmful to output.

"No one wants to write a shitty code base. You want healthy code," Johnson said.

He added, "And so, what founders don't realize is, when you're not taking care of your health, you are shitty code. You are not beautiful code."

Johnson also added that strong partnerships can support both mental and physical health, especially as many people struggle with rising mental health challenges.

"Sometimes it takes a bit for them to realize that, but a good partnership is ...

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OpenAI To Establish London Office After Pausing UK Stargate Project: Report

Namrata Sen — Mon, 13 Apr 2026 12:53:20 +0000

OpenAI is reportedly planning to set up its permanent office in London, aiming to make the city its largest research hub outside the U.S.

The San Francisco-based firm told Reuters on Monday that it would start the office in 2027. The 88,500 square foot location, situated at Regent Quarter, will house 544 employees and is part of the company’s plan to expand its capacity to meet the growing demand in the UK.

OpenAI first opened its office in London in 2023. Currently, it employs approximately 200 people in London across various roles, including research, engineering, customer support, policy, and sales. The new office will serve as a significant expansion of the company’s presence in the ...

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Pennsylvania Teen Wanted An Electric Skateboard, But Built His Own For Half The Money And Turned It Into A $500,000 Side Hustle

Shomik Sen Bhattacharjee — Sun, 12 Apr 2026 20:01:12 +0000

Jared Ebersole was a teenager in Pennsylvania who wanted an electric skateboard, saw that the one he liked cost $1,600, and decided to build his own for about $800 in parts instead.

Building A Board Into A Business

As noted in a CNBC Make It report, after months of trial and error, including one battery blowing up during testing, he made a working board at his parents' house, posted it online, and soon started getting messages from people who wanted to buy one too. That hobby became Build Kit Boards, a side hustle he launched in his teens and used to help pay for college.

Ebersole made his first sale in 2017. By the time he started college at Long Island University in 2020, Build Kit Boards was bringing in about $300,000 a year. ...

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Anthropic, OpenAI And Big Tech's 'Number One Goal' Is To Kill OpenClaw, Says Venture Capitalist Jason Calacanis

Mohd Haider — Sat, 11 Apr 2026 08:29:00 +0000

Venture capitalist Jason Calacanis said that killing OpenClaw is “the number one goal” in the large language model space, pointing to a growing list of competitors independently racing to displace the open-source coding agent.

OpenClaw is a local-first autonomous AI agent that automates complex and multi-step tasks. It manages calendars, emails and browser actions across platforms such as WhatsApp, Telegram and Slack, and runs directly on a user's device.

Industry Lines Up Against Open-Source Rival

Speaking on the All-In podcast released Friday, the prominent Silicon Valley angel investor alleged that Claude-parent Anthropic restricted OpenClaw users from applying their $200-per-month Claude subscription to the tool, requiring them to switch to pay-per-token API pricing, and then launched a competing managed agent product within roughly 10 ...

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