Plus: Canva set to raise $1.5B

Inside Business

For January 21, 2024

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Here are the top stories to look forward to this upcoming week:

✈️ Will Alaska Airlines and Hawaiian merger face the same hurdles as JetBlue and Spirit?
👓 Netflix and YouTube refuse to create apps for the Apple Vision Pro, but will consumers make them join the platform?
💰 Elon Musk debunks xAI's funding news, but will the company raise funding later this year?

Arbër
p/Arber

Look for: Following a ruling by a U.S. court that blocked an attempted merger between JetBlue and Spirit Airlines, other similar deals are now at risk. A $2B planned merger deal between Alaska Airlines and Hawaiian, which was announced in December, could be affected by the current strict regulatory environment. Look for more news on this topic this week.

Look for: Netflix and YouTube became the latest companies to refuse to create apps for the Apple Vision Pro. The two companies didn't specify whether they plan on launching apps down the line, so for now, consumers who want to use them will have to do so via web browsers. Other companies that have decided to forgo creating apps for Apple Vision Pro include Spotify, Snapchat, DoorDash, etc. As the launch date for the Vision Pro gets closer, expect more news on this front.

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Look for: Earlier this week, Bloomberg reported that Elon Musk's AI company, xAI, had raised $500M from investors and was looking to raise another $500M. The report was debunked by Musk on X, who stated the article was "not accurate." Look for reports this upcoming week on more details about xAI's funding plans for the future.

Look for: Canva is set to go through a share sale worth north of $1.5B, according to reports. If the sale goes through, it would value the company at $26B. The Australian software company has around 170 million monthly users and reported $2B in revenue in 2023.

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Look for: Eli Lilly, the world's largest pharmaceutical manufacturing company by market capitalization, has come under criticism after the FDA found several issues, including problems in tracking manufacturing processes and quality controls, equipment calibration, and failure to properly maintain facilities.

Look for: Earlier this week, it was reported that OpenAI CEO Sam Altman is looking to raise funds for a new chip manufacturing plant and was in talks with investors such as G42 Group and Softbank Group. Look for more details to possibly emerge this upcoming week, including the plant's location, whether the company would be under the umbrella of OpenAI or a separate entity, investor names, etc.

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Arbër Musliu

Writer

Arbër is an Inside analyst who has previously incubated his startup at the largest incubator in Southeastern Europe. He has collaborated with multiple major publications and holds a business degree from XAMK University in Finland.

This newsletter was edited by Megan LaBruna

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