Transcript
A (0:00)
We wanted to manage the number of suppliers, get better visibility and transparency into these small transactions. We realized that businesses and organizations of all sizes really wanted the same things that consumers did. They wanted a massive selection, great prices and great value. They wanted that delivery experience that they get from Amazon in their personal lives. So they really wanted the Amazon experience. But for work.
B (0:31)
Here'S your morning TNB Tech minute for Tuesday, December 30th. I'm Julie Chang for the Wall Street Journal. Meta Platforms has agreed to acquire AI startup Manus, a Singapore based company with Chinese founders that conducts deep research and performs other tasks for paying users, according to people familiar with the acquisition. Meta is closing the deal at more than $2 billion. Manus previewed an AI agent in March that was capable of producing detailed research reports and building custom with AI models developed by companies such as Anthropic and China's Alibaba. The deal would help Meta cement its position in the product segment of AI agents. British renewable energy startup Octopus Energy will spin off utility management platform Kraken Technologies at a valuation of $8.65 billion. Kraken is an AI platform used by global energy retailers. Octopus raised $1 billion in its first standalone funding round for Kraken. The separation, which Octopus expects to occur by the middle year, is seen by analysts as a precursor to a likely initial public offering, where they say it could be worth as much as $15 billion. And three Chinese technology companies plan to raise a total of roughly $1.19 billion through initial public offerings in Hong Kong. The companies, including an AI developer, a chip provider and a surgical robot firm, expect to begin trading in early January. Chinese AI startups have accelerated their efforts to go public and tap capital markets for funding amid intensifying competition in the AI sector. Hong Kong has been one of the world's most active listing venues this year, according to Hong Kong Exchanges and clearing. As of November, IPO fundraising hit more than triple the amount raised in the same period a year earlier. And that's your TMB Tech Minute. Join us again this afternoon for more. Amazon Business is 10 years old.
A (2:29)
We needed to build something that could address the unique purchasing challenges of different organizations. The need has never been larger and greater to use AI. Trying to manage that and reduce complexity. It is a fundamental sea change that is happening. We wanted to manage the number of suppliers. We were able to timely and accurately get the supplies to the end user's possession. Amazon solved that problem for us.