Undervalued games

The video game industry is getting a helping hand from an investor betting on its talent and IP. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Kioxia Holdings Corp ¥51,450 +16% Samsung Electronics Co 282,500 won +3.3% Alibaba Group Holding Ltd HK$131.20 -0.8% Market data as of 03:12 AM ET. Data is subject to provider delays. Your watchlist Top Stories SpaceX IPO nears: Elon Musk’s rocket company may file its long-awaited initial public offering as soon as Wednesday and list on June 12. It’s seeking to raise as much as $75 billion. CXMT x8: Chinese memory maker CXMT, also en route to an IPO this year, said revenue jumped by more than 700% to $7.5 billion in the three months ended March, according to its latest prospectus filed on Sunday. The company had recorded a loss in the same period a year earlier. ChatGPT’s money tips: OpenAI is partnering with Plaid to give consumers using its AI chatbot personalized financial advice. See what guidance users can expect. Must Reads Twitter Backers’ Patience Repaid With $100 Billion SpaceX Stake In the months after Elon Musk closed his $44 billion purchase of Twitter Inc., there was a broad consensus that not only had he overpaid, but that he’d dragged some of the world’s best-known investors into a bad deal. Ackman Takes $2.1 Billion Microsoft Stake in ‘Embedded’ Tech Bet Bill Ackman’s Pershing Square has built a $2.1 billion stake in Microsoft, taking advantage of a decline in the company’s share price to invest in a business that he said is stronger and more resilient than other investors think. Trump’s More Than 3,700 Trades Astonish Wall Street Insiders President Donald Trump’s latest financial disclosures show that he or his investment advisers made more than 3,700 trades in the first quarter, a flurry totaling tens of millions of dollars and involving major companies that have dealings with his administration. New From Bloomberg Coming soon: Get the AI Today newsletter — chronicling the disruptions and threats of AI on businesses, workers, governments and economies with analysis from Bloomberg’s global newsroom. Beyond The Brief The games industry has been through a painful contraction over the past few years, following a growth spurt triggered by demand during the pandemic. It now needs support and stability, and a new fund, Kensei Capital, aims to provide that while capitalizing on an abundance of undervalued talent and IP. Kensei founder Justin Shriram Keeling joined for a Q&A in today’s Tech In Depth. Bloomberg Podcast When Bob Lee, a well known tech executive famous for creating Cash App, was found stabbed to death in San Francisco, his killing set off a wave of online fury and speculation. But when a suspect was arrested for his murder, it became clear the rumors could not be further from the truth. Listen to Foundering: The Killing of Bob Lee. This Week In Game On Atari CEO Wade Rosen has made some big moves, had some big wins and a few losses since taking over in 2021, Jason Schreier reports in this week’s Game On. Schreier sits down with Rosen to discuss the new iteration of Atari as the once-struggling company is now projected to have positive earnings for the first time in years. Before You Go... Disney Is Banking on Baby Yoda to Revive the ‘Star Wars’ Franchise The Mandalorian and Grogu, the first new Star Wars film in seven years, will test whether Disney+ TV series can translate to the big screen. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |