- SoftBank will establish a $555M asset management subsidiary to invest in 30 highly liquid publicly listed stocks, diversifying from venture-backed startups. The fund could grow to $10B. Meanwhile, the company confirmed its intent to sell ARM.
- DoorDash has been served an injunction by a San Francisco court requiring the company to classify its workers as employees. The move follows a similar injunction against Uber and Lyft, instigated by a California state attorney.
- Palantir is reportedly planning to go public via a direct listing in September.
- ByteDance is reportedly in talks with India’s Reliance Industries for investment in TikTok. The app has been banned in India, which is its second-largest market measured by users since June 29.
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