Welcome to Metaverse, Nebius (NASDAQ: NBIS) Inks AI Deal with Meta

Nebius Sales Soar as Neocloud Provider Inks AI Deal with Meta, also generated revenue in the quarter rose 355% to $146 million.

Nebius Group has signed a deal worth about $3 billion with Meta to provide the Facebook owner with AI infrastructure over a five-year period, the company released the news on Tuesday. This comes after reporting earnings for the quarter.

The stock has been on a strong run this year, with its market value rising fourfold to $27.61 billion, through its last close. The company posted a surge in capital spending and a quarterly loss of over $100 million, widening from $39.7 million last year. The stock has been on a strong run this year, with its market value rising fourfold to $27.61 billion, through last close.

The verdict is in; Court denies injunction blocking GTCR acquisition in favor of Surmodics  (NASDAQ:SRDX)

Surmodics Inc. (NASDAQ:SRDX) stock surged 50% after a U.S. District Court denied the Federal Trade Commission’s request for a preliminary injunction that would have blocked the company’s proposed acquisition by GTCR LLC.

The Northern District of Illinois court ruling removes a significant hurdle for the medical device technology provider’s merger, though the deal remains subject to a Temporary Restraining Order preventing consummation before 5:00 p.m. Central time on Monday, November 17. Additional closing conditions must also be satisfied, including the absence of any legal restraints or prohibitions and no "Company Material Adverse Effect."

"The District Court’s ruling is a significant step toward being able to complete the Merger, which we continue to believe will position the Company to continue to deliver compelling benefits for physicians, patients and customers going forward," said Gary Maharaj, President and CEO of Surmodics, in a statement following the court decision.

Surmodics, which provides medical device and in vitro diagnostic technologies to the healthcare industry, thanked its legal advisors and employees for their efforts in defending the proposed transaction while maintaining operational performance.

The merger agreement between Surmodics and GTCR, a private equity firm, still faces regulatory scrutiny despite the favorable court ruling. The companies must wait until the Temporary Restraining Order expires before they can finalize the transaction, assuming all other conditions are met.