Tech

StubHub aims to raise up to $851 million in its IPO, valuing the company at potentially $9.2 billion, offering shares between $22 and $25 each. The IPO follows previous delays due to market volatility. StubHub will trade on the NYSE under the ticker “STUB.” The company’s Q1 revenue increased 10% to $397.6 million, with operating income at $26.8 million, but net loss widened to $35.9 million. Reacquired by co-founder Eric Baker in 2020, StubHub initially sought a $16.5 billion valuation.

Xpeng plans to launch its mass-market Mona EV brand overseas next year, starting with Europe, aiming to become a global player with affordable EVs. CEO He Xiaopeng revealed an openness to strategic acquisitions to enhance competitiveness in the consolidating EV sector. The Mona brand debuted in China with a $17,000 coupe and will expand globally. Xpeng, already present in Europe, seeks to increase its global footprint, exceeding its initial expansion targets. While considering European manufacturing, it faces EU tariffs.

Wedbush Securities’ Dan Ives joins Eightco Holdings as chairman, coinciding with a $250 million private placement to strategically invest in Worldcoin (WLD). Eightco will rebrand to “ORBS,” mirroring Fundstrat’s Tom Lee’s previous move into blockchain. Ives believes Worldcoin offers critical identity verification in the age of AI, addressing a key limitation for AI’s growth. This trend reflects growing corporate interest in crypto treasury strategies beyond Bitcoin, fueled by increasing regulatory clarity and high-profile endorsements. Worldcoin aims to provide a “World ID” for human authentication in the face of deepfakes.

Klarna, initially known for its BNPL model, is transitioning to a comprehensive digital bank ahead of its IPO. The IPO, expected to value Klarna at up to $14 billion, will test investor confidence in this pivot. Klarna faces the challenge of convincing investors of its neobank strategy, expanding banking services despite recent losses, while showing 20% YOY revenue growth. Its success hinges on demonstrating a path to profitability in a changing economic landscape, comparing itself with public peers like Affirm.

FTC Commissioner Slaughter publicly questioned the status of an FTC complaint against Snap’s AI chatbot, filed with the DOJ earlier this year, citing potential risks to young users. The complaint’s referral was deemed “in the public interest,” yet its progress remains unknown. Slaughter’s remarks underscore growing concerns about transparency and accountability in AI oversight, especially given the potential for harmful content targeting children. The lack of updates from the DOJ or Snap, coupled with internal FTC divisions and political complexities, highlights the challenges of regulating rapidly evolving AI technologies.

AppLovin (APP) and Robinhood (HOOD) shares jumped 7% after-hours following S&P Global’s announcement of their inclusion in the S&P 500, effective September 22nd. AppLovin replaces MarketAxess (MKTX), and Robinhood replaces Caesars Entertainment (CZR). This is a significant validation, especially for Robinhood. While index inclusion typically boosts share prices, the long-term benefits for AppLovin, in the competitive mobile advertising sector, and Robinhood, requiring sustained profitability, remain to be seen.

President Trump threatens a Section 301 trade investigation against the EU in response to “discriminatory fines” levied on U.S. tech giants Google and Apple. This follows the EU’s antitrust fine of nearly $3.5 billion on Google and ongoing scrutiny of Apple’s tax practices, including a $14 billion back tax bill in Ireland. Trump argues the EU unfairly penalizes American companies, impacting U.S. investments and jobs, and vows to nullify these penalties. The move could escalate trade tensions and impact the tech sector.

Anthropic has reportedly agreed to a $1.5 billion settlement in a copyright lawsuit brought by authors who alleged their works were used without permission to train AI models. The proposed settlement includes payments of $3,000 per book plus interest and a commitment to destroy datasets containing the allegedly infringing material. This landmark case addresses copyright law in AI development. The plaintiffs’ attorney emphasized the importance of respecting copyright laws for AI training. The lawsuit, filed last year, claimed “large-scale copyright infringement.” Following a substantial funding round, experts believe this settlement could clarify legal frameworks around AI training data.

The U.S. tech industry’s eight trillion-dollar companies saw a collective market cap increase of $420 billion this week, reaching $21 trillion, despite Nvidia’s downturn. Alphabet and Apple rallied after a favorable antitrust ruling, which also allows their continued AI partnership. Broadcom secured a $10 billion AI client, likely OpenAI, propelling its entry into the trillion-dollar club. Tesla shares climbed following news of a proposed compensation package for Elon Musk. Google, Apple, Amazon, and Meta all face antitrust scrutiny, reflecting an industry wide push towards regulation.

Roblox (RBLX) introduced “Roblox Moments,” enabling users 13+ to share in-game short videos, challenging TikTok and YouTube. AI tools will democratize 3D content creation, impacting the developer economy. These moves come as Roblox faces regulatory scrutiny and legal challenges concerning child safety. Safety chief Matt Kaufman emphasized moderation of “Moments” content and AI-generated creations. The company is expanding age estimation programs amid allegations of failing to protect underage users from exploitation.