Category: Business

AIBusiness

CoreWeave’s $5 Billion Core Scientific Acquisition Faces Mounting Shareholder Opposition

CoreWeave’s ambitious $5 billion acquisition of Core Scientific faces mounting opposition from major shareholders ahead of a critical October 30 vote. Gullane Capital, the third-largest shareholder, has joined other investors in rejecting the current terms, citing valuation concerns and structural issues with the stock conversion deal.

Major Shareholder Joins Opposition to CoreWeave’s Acquisition Plan

A $5 billion merger crucial to CoreWeave‘s expansion in the artificial intelligence sector faces increasing uncertainty as another major investor has announced opposition to the deal. According to reports, Trip Miller, founder of Gullane Capital and the third-largest shareholder in Core Scientific, stated he would vote against the proposed acquisition by rival data center firm CoreWeave.

by Natalie Brooks
Business

Goldman Sachs Loses Veteran Credit Strategist Karoui in Senior Research Departure

Goldman Sachs’s chief credit strategist Lotfi Karoui has exited the firm after nearly two decades, according to reports. The departure comes as the bank’s US equity strategist David Kostin also prepares to leave, signaling significant changes in Goldman’s research leadership.

Senior Research Leadership Transition at Goldman Sachs

Goldman Sachs’s chief credit strategist Lotfi Karoui has departed the firm after 18 years, according to reports confirmed by the bank. Karoui, who also served as head of credit, mortgages and structured products research, was named chief credit strategist in 2017 and was among the executives promoted to partnership in November.

by Darren Holt
BusinessTechnology

Blizzard’s Hearthstone and Warcraft Rumble Developers Form New Union Amid Industry Shifts

Developers working on Hearthstone and Warcraft Rumble at Blizzard Entertainment have formed a new union representing over 100 employees. This marks the latest labor organization effort at Microsoft’s gaming studios as the company’s neutrality agreement with workers nears expiration. The union includes software engineers, designers, artists, and quality assurance testers.

Major Unionization Effort at Blizzard

Developers working on Hearthstone and Warcraft Rumble at Blizzard Entertainment have formed a new union, according to reports from the Communication Workers of America. The over 100-person unit represents what analysts suggest is continued momentum in labor organizing across Microsoft’s gaming division.

by Natalie Brooks