Category: Tech

Rubrik to Acquire AI Startup Predibase in Strategic Expansion Push

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Rubrik is acquiring AI startup Predibase for over $100 million to expand into enterprise AI infrastructure.
– Predibase’s platform allows businesses to customize and deploy AI models using data from third-party sources.
– The acquisition aligns with Rubrik’s strategy to evolve into a multi-product enterprise platform focused on security and AI innovation.

Rubrik, the data security and management company, is set to acquire artificial intelligence startup Predibase in a move that deepens its presence in the fast-growing AI infrastructure market. The acquisition, valued at over $100 million according to a source familiar with the terms, marks a significant step in Rubrik’s efforts to broaden its capabilities beyond data backup and cyber resilience.

Predibase, founded in 2021, specializes in tools that help organizations efficiently deploy custom AI models using their own data. The San Francisco-based startup has attracted attention for its developer-focused platform that integrates with a wide range of third-party data systems. By enabling customization and deployment of large language models (LLMs), Predibase aims to help businesses move beyond generic AI tools and build solutions tailored to their internal data needs.

Rubrik, which went public in 2024 and has seen robust revenue growth since its IPO, views the deal as an opportunity to evolve into a multi-product enterprise software provider. The company has already established itself as a key player in data protection and ransomware recovery, boasting more than $1 billion in annualized recurring revenue. The integration of Predibase’s AI model deployment tools adds a new layer to Rubrik’s offerings—one that taps into the increasing demand for AI-powered automation across enterprises.

With this acquisition, Rubrik aims to give customers the ability to build secure, cost-effective AI agents that can reason over large datasets housed within both Rubrik’s ecosystem and external cloud platforms. These include major cloud data players such as Amazon Web Services, Google Cloud, Snowflake, and Databricks, with whom Predibase already integrates.

The Predibase platform will continue to operate independently after the acquisition closes, preserving its existing customer relationships and developer-centric approach. Predibase’s technology will also be enhanced by Rubrik’s Annapurna platform, which enables secure aggregation of data from multiple sources. Together, the two platforms are expected to provide businesses with an end-to-end stack for building and deploying AI models grounded in private enterprise data.

Predibase’s team, including co-founders who previously worked on AI infrastructure at Uber, brings technical depth and credibility to Rubrik’s expanding AI strategy. Their work at Uber on machine learning platforms laid the groundwork for scalable AI services, and they bring similar ambitions to their new parent company.

For Rubrik, the acquisition underscores a broader ambition to become a long-term platform player in the enterprise technology space. As more businesses look to harness generative AI for insights and automation, the demand for tools that enable secure, high-performance model training and deployment is growing rapidly. With Predibase now in its fold, Rubrik is positioning itself to be at the center of this next wave of enterprise AI adoption.

Bitcoin Depot (BTM) – Potential Fuel for Growth

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, June 24, 2025

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Shelf registration. On June 20, the company filed a registration statement with the SEC for a $100 million mixed securities shelf registration, which could include Class A common stock, preferred shares, warrants, and units. The registration statement also included an at the money (ATM) sales agreement, which will allow the company to sell up to $50 million in class A common shares directly into the market.

Bolstering capital availability. We view the registration positively, as it provides the company with flexibility to raise capital opportunistically based on market conditions and the strength of BTM’s share price, which is up approximately 230% year-to-date. Importantly, this added capital access could support strategic initiatives such as tuck-in acquisitions or the purchase of additional kiosks, positioning the company to accelerate its network expansion and long-term revenue growth trajectory.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Bit Digital (BTBT) – New Credit Agreement

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, June 24, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Credit Agreement. Yesterday, Bit Digital’s WhiteFiber subsidiary announced a CAD$60 million credit facility with Royal Bank of Canada (RBC). We view this step favorably, as the facility not only provides funds to support the continued buildout of WhiteFiber’s Tier-3 AI data center portfolio but also is a confirmation of Bit Digital’s AI business model, in our view.

Terms. While we expect an 8-K to be filed with a full accounting of the terms, the credit agreement is among RBC and ENOVUM Data Centers Corp. and its Montreal II project as borrowers and guarantors, and is non-recourse to WhiteFiber or Bit Digital. It encompasses a real estate term loan, equipment financing, and a revolving facility. The facilities carry interest rates of CORRA plus 250 bps and a 3-year term.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tesla Stock Soars 9% After Elon Musk Announces Successful Robotaxi Launch in Austin

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Tesla launches its first robotaxi service in Austin with a limited group of early users.
– CEO Elon Musk praised the Tesla AI and chip teams and said rides cost a flat $4.20.
– Despite some operational hiccups, Tesla aims to scale rapidly, challenging Waymo and other rivals.

Tesla’s robotaxi service is currently running on a fleet of Model Y vehicles equipped with its advanced Full Self-Driving (FSD) Unsupervised software. The service is invite-only for now, offered to a community of Tesla enthusiasts, investors, and influencers who frequently promote the company across platforms such as X and YouTube.

Customers participating in the early rollout are charged a flat fare per ride, a detail personally shared by Tesla CEO Elon Musk. In typical fashion, Musk publicly celebrated the milestone, praising the Tesla AI and chip design teams for building the autonomous system from the ground up.

Many early riders reported smooth experiences with the service, some even completing numerous trips without issues. However, concerns remain. Observers have captured footage of the robotaxis performing unexpected maneuvers — including briefly driving against traffic or braking sharply in response to nearby vehicles. Critics argue that these incidents highlight the need for more transparency around safety and system limitations.

Tesla’s autonomous driving system has evolved significantly over the years. The company’s standard Autopilot and premium FSD Supervised features are already available in new EVs, offering capabilities like lane-keeping and automated navigation. However, the fully driverless system powering the robotaxi remains in limited release and is not yet available to the broader public.

The move into robotaxis puts Tesla in direct competition with established players such as Alphabet’s Waymo, which operates a growing fleet of driverless vehicles across multiple U.S. cities. In China, companies like Baidu’s Apollo Go and WeRide are also scaling rapidly, logging millions of autonomous trips annually.

Despite joining the race later than some of its competitors, Tesla brings brand power and a vertically integrated tech stack that could help it catch up quickly. Musk has previously said the company aims to deploy hundreds of thousands — if not over a million — fully autonomous vehicles in the coming years.

The initial rollout has not been without controversy. Some lawmakers and public safety advocates have urged Tesla to delay its robotaxi launch until more rigorous testing and safety data are available. Nonetheless, the company has pushed forward, confident in the capabilities of its proprietary AI systems.

As Tesla expands its service to new cities and gathers feedback from early riders, the robotaxi project is poised to reshape not only how people move but how they think about the future of car ownership, public transit, and automation. Whether Tesla can deliver safe, scalable, and competitive robotaxi experiences remains to be seen — but it’s clear that the road to autonomy has officially begun.

Bitcoin Depot (BTM) – Pelicoin Pick-Up: A Nice Tuck-In Acquisition

Posted on by slightbourne@noblecapitalmarkets.com


Friday, June 13, 2025

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Bolsters its southern operations. On June 11, the company announced that it had acquired the assets of Pelicoin, a crypto ATM company with operations in the Gulf South (particularly MS, AL, TX, TN). The additional kiosks, which we believe to be roughly 50, are expected to be fully integrated within several weeks.

Industry consolidation. In our view, the acquisition demonstrates the attractive industry consolidation opportunity for the company. Notably, the Pelicoin acquisition marks the second time in the last 18 months that the company has opportunistically added to its kiosk fleet. In April 2024, the company acquired 2,300 kiosks at a 50% discount from a defunct operator. We believe, with its healthy cash balance of $35 million (as of 3/31/25), the company is well positioned to continue to consolidate the industry as opportunities arise.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Circle Targets Nearly $6 Billion Valuation in Landmark Stablecoin IPO

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Circle launches IPO to raise $624M, targeting a $5.65B valuation amid stablecoin growth.
– USDC’s market cap has surged 40% in 2025, driven by rising demand and pending U.S. regulation.
– Cathie Wood’s ARK and Coinbase stand to benefit as Circle eyes wider institutional adoption.

Circle, the fintech firm behind the widely-used USDC stablecoin, has officially launched its long-anticipated initial public offering (IPO), aiming to raise approximately $624 million. The move would value the company at around $5.65 billion — and closer to $6.7 billion when including outstanding shares and options — marking a pivotal moment for both Circle and the broader digital asset space.

The offering includes 24 million shares of Class A common stock, priced between $24 and $26 per share. Of those, Circle itself will sell 9.6 million, while existing shareholders are offloading the remaining 14.4 million. The shares will trade under the ticker CRCL on the New York Stock Exchange, giving traditional investors direct exposure to one of the most influential players in the crypto ecosystem.

Founded in 2018, Circle’s signature product, USD Coin (USDC), is now the second-largest stablecoin in the world, with around $62 billion in circulation — roughly 27% of the total stablecoin market. It trails only Tether (USDT), which holds a 67% share. However, USDC has outpaced its rival in growth this year, boasting a 40% increase in market cap compared to Tether’s 10%, according to CryptoQuant.

The IPO comes at a strategic inflection point for the crypto industry, as U.S. lawmakers move closer to passing the first major federal legislation aimed at stablecoins. Last week, the Senate advanced a regulatory bill that would establish clear guidelines for their issuance and oversight. Former President Donald Trump, now back in office, has voiced strong support for crypto regulation and stated his desire to sign a stablecoin-focused bill before the August recess.

A significant backer of Circle’s IPO is ARK Investment Management, led by Cathie Wood, which has signaled interest in purchasing up to $150 million worth of shares — a vote of confidence in Circle’s future and stablecoin utility.

The IPO is also expected to have notable ripple effects for Coinbase, a co-founder of USDC and one of its primary distribution channels. Coinbase and Circle maintain a 50/50 revenue-sharing agreement on USDC, and the crypto exchange earns 100% of the interest income generated by USDC-based products on its platform. Coinbase CEO Brian Armstrong has called making USDC the world’s top stablecoin a “stretch goal” for the company.

Beyond trading and DeFi use cases, USDC and other stablecoins have increasingly been recognized for their ability to move U.S. dollars quickly and inexpensively across borders. This functionality is attracting attention from fintech firms, traditional banks, and policymakers alike — especially as global conversations around preserving U.S. dollar dominance intensify.

With its IPO, Circle isn’t just going public — it’s stepping into the spotlight as a central player in the next era of global finance.

Google Teams Up with Warby Parker and Gentle Monster to Launch AI-Powered Smart Glasses

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Google partners with Warby Parker, Gentle Monster, and Samsung to develop Android XR smart glasses powered by Gemini AI.
– Features include in-lens displays, cameras, real-time translation, and smartphone integration.
– The move sets up a new front in the wearables race against Meta and Apple

Google is reentering the smart glasses race with renewed focus and fresh partners. At its annual Google I/O conference in Mountain View, California, the tech giant announced partnerships with eyewear brands Warby Parker and Gentle Monster to create stylish, AI-powered smart glasses. The company is also expanding its collaboration with Samsung into the realm of intelligent eyewear, building on their joint efforts in augmented reality.

Unlike the tech-heavy and socially awkward Google Glass of 2013, Google’s new smart glasses aim to blend cutting-edge functionality with fashion-forward design. Set to run on the new Android XR operating system, the glasses will include features like turn-by-turn navigation, real-time translation, camera-enabled photography, hands-free calling, and seamless integration with apps—all delivered through the company’s Gemini AI platform.

In a direct challenge to Meta’s Ray-Ban Meta glasses, Google’s new offering will pair with smartphones and be equipped with microphones, speakers, and optional in-lens displays. These displays will allow users to access information such as text messages or directions without pulling out their phone. While the glasses will still rely on smartphones for processing and connectivity, they mark a significant leap in the evolution of wearable tech.

“This new wave of smart glasses is about combining form and function,” said Rick Osterloh, Google’s SVP of Devices & Services. “By working with top eyewear designers, we’re making sure these devices are not only useful, but also something people will want to wear every day.”

Importantly, Google says it will begin working with developers and testers later this year to fine-tune the technology, especially in terms of privacy and usability—areas that proved problematic for the original Google Glass. That early attempt, which cost $1,500 and looked like something out of a sci-fi film, failed to gain traction with mainstream consumers, partly due to design and partly due to discomfort around being unknowingly recorded.

Today’s consumers, however, are more acclimated to cameras in public spaces, and the success of Meta’s more discreet Ray-Ban glasses shows the market may finally be ready for smart eyewear—if it looks good and works well.

The resurgence of interest in smart glasses comes amid a broader push by tech giants to identify the next big hardware platform after the smartphone. Google is also involved in Samsung’s Project Moohan, an AR/VR headset co-developed with Qualcomm, signaling its broader ambitions in the spatial computing space.

Apple is rumored to be working on its own smart glasses, though Bloomberg reports they may not launch until 2027. That gives Google and Meta time to shape the market—and consumer expectations.

While smart glasses are unlikely to replace smartphones overnight, they are becoming a serious contender in the next phase of personal technology. The challenge now is whether Google, this time with the right design and timing, can finally succeed where Google Glass stumbled—and convince the world to put computers on their faces.

Codere Online (CDRO) – Mexican Metrics Drive Favorable Results

Posted on by slightbourne@noblecapitalmarkets.com


Monday, May 19, 2025

Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid start to the year. First quarter revenues increased a solid 7.5% to €57.0 million, beating our €55.0 million estimate, in spite of currency headwinds. On a constant currency basis, revenues would have increased a strong 17%. Adj. EBITDA of €1.8 million, was slightly better than our €1.4 million estimate. 

Maintain full year 2025 estimates, tweaking upward 2026 estimates. Management reiterated revenue and adj. EBITDA guidance for the full year 2025. We anticipate that revenues will accelerate to the high single digits to the low double digits in the third and fourth quarter, respectively. We are tweaking upward our full year 2026 revenue and adj. EBITDA estimates on the the favorable momentum in Mexico and prospects for lower marketing spend. 


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Bit Digital (BTBT) – Reports 1Q25 Results

Posted on by slightbourne@noblecapitalmarkets.com


Monday, May 19, 2025

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q25 Overview. Bit Digital’s first quarter results were affected by mark-to-market losses on digital assets and lower bitcoin mining revenue, both of which reflected industry-wide headwinds and the strategic rebalancing of the business. The Company continued to make meaningful progress in scaling the infrastructure platform and diversifying revenue streams.

1Q25 Results. Revenue of $25.1 million was down 17% y-o-y as digital asset mining revenue fell 64%, while cloud services revenue jumped 84%. We were at $24.8 million. Driven by $49.3 million of mark-to-market losses on digital assets, Bit Digital reported a net loss of $57.7 million, or $0.32/sh, compared to a loss of $11.9 million, or $0.09/sh, last year. We projected a loss of $13.1 million, or $0.07/sh.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tech IPO Market Stirs Back to Life After Years of Drought

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
IPO Market Rebounds: eToro and CoreWeave spark renewed tech IPO momentum.
Startups Move Ahead: Chime and Hinge Health revive public debut plans.
AI & Fintech Lead: These sectors drive the IPO resurgence despite market uncertainty.

After several years of stagnation, the tech IPO market is finally showing signs of revival. Recent successful listings from high-profile companies like eToro and CoreWeave, coupled with a growing pipeline of IPO-ready startups, have rekindled optimism among venture capitalists and retail investors alike.

Earlier this week, eToro, the social trading and brokerage platform based in Israel, made a striking debut on the Nasdaq. Its stock surged nearly 29% after pricing above the expected range—a strong signal that investor appetite for new tech listings may be returning. The timing was crucial. Just weeks ago, uncertainty stemming from President Trump’s abrupt tariff policy had cast a shadow over the broader market and cooled IPO ambitions.

Adding further momentum, CoreWeave, an AI infrastructure company, posted a remarkable 420% revenue increase in its first earnings report since going public in March. The company’s stock has more than doubled in value since its IPO, reflecting sustained investor enthusiasm for artificial intelligence and cloud infrastructure plays. According to PitchBook and the National Venture Capital Association, nearly 40% of Q1 venture capital exit value came from CoreWeave’s listing alone.

This rebound, however, comes after a long dry spell. Since early 2022, startups across fintech, health tech, and enterprise software have largely stayed private, waiting for more favorable conditions. The brief optimism earlier this year was quickly dampened when the Trump administration’s surprise tariff announcement in April rattled the markets. In response, companies like Klarna and StubHub shelved their IPO plans.

But with the administration now pausing its most aggressive tariff measures for 90 days, confidence is starting to return. Fintech company Chime filed its IPO prospectus this week, having delayed its plans due to the earlier tariff-driven volatility. Similarly, digital health firm Omada Health submitted its filing last week.

Next week, all eyes will be on Hinge Health, a virtual physical therapy platform. The company updated its IPO filing with a pricing range of $28–$32, potentially valuing it at $2.4 billion. This offering will be an important litmus test for investor sentiment toward the digital health sector, which boomed during the pandemic but has since seen growth slow.

Meanwhile, Cerebras, a chipmaker focused on AI hardware, has finally cleared regulatory hurdles and is preparing to go public later this year. The move reflects strong demand in the AI space, even as regulatory and geopolitical risks linger.

There are also notable shifts in the digital asset space. Galaxy Digital, originally listed in Canada due to U.S. regulatory hesitance toward crypto, has now moved its shares to the Nasdaq in a bid to access a broader investor base.

Despite these encouraging signs, experts remain cautious. Ernst & Young’s Rachel Gerring believes the IPO market is “trending in the right direction,” but warns that volatility and geopolitical risks could still stall momentum. Many startups are being advised to focus on readiness rather than timing, ensuring they can launch when conditions are ideal.

For now, the market is showing signs of life. But whether this marks the start of a sustained comeback or another false dawn remains to be seen.

Databricks Acquires Neon for $1 Billion to Supercharge AI-Native Applications

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Databricks acquires Postgres-based startup Neon to enhance support for AI-native applications.
– Neon’s automated, serverless database tools are designed for fast, scalable, agent-based deployment.
– The deal reflects growing demand for intelligent infrastructure to support next-gen AI workloads.

Databricks, a leader in data analytics and artificial intelligence infrastructure, has announced the acquisition of Neon, a cloud-native Postgres startup, for approximately $1 billion. The deal marks a strategic push to strengthen Databricks’ capabilities in the realm of serverless databases—an area increasingly critical for the deployment of AI agents and intelligent applications.

Neon, founded in 2021, has quickly gained attention for its open-source, developer-friendly approach to relational databases. It offers a cloud-based, fully managed Postgres platform with features such as dynamic scaling, database branching for safe testing, and point-in-time recovery. These capabilities are particularly well-suited to AI-driven workloads, where systems operate faster than humans and require scalable, real-time data access.

A growing trend among AI platforms is the use of agentic software—automated tools and bots that create and manage back-end resources such as databases without human intervention. In recent telemetry data, a substantial majority of database instances on Neon’s platform were created by AI agents rather than developers. This level of automation underscores a shift in software development, where applications are increasingly built and operated by other pieces of code.

By integrating Neon’s technology, Databricks aims to provide a serverless Postgres solution that can meet the demands of AI-driven systems—particularly in areas like model training, automated testing, and scalable deployment. This also aligns with Databricks’ broader strategy of building an end-to-end ecosystem for AI development, from data ingestion to inference and monitoring.

Neon has attracted significant investor interest in a short period, raising $129.6 million from notable backers including Microsoft’s venture arm, General Catalyst, and Menlo Ventures. The acquisition is also consistent with Databricks’ recent moves, including its 2023 purchase of MosaicML and its more recent acquisition of Tabular—both aimed at expanding its reach in AI infrastructure.

For investors, this deal highlights the growing strategic value of early-stage platforms that support intelligent automation and scalable deployment. Neon’s focus on usability, flexibility, and cost efficiency made it a compelling target in a space where performance and developer speed are paramount.

Databricks’ continued investment in infrastructure optimized for AI suggests that the next wave of competition in tech won’t just be about the power of models—but about the speed, efficiency, and intelligence of the tools that support them. As the AI ecosystem evolves, companies offering agile, cloud-native tools for developers are becoming key pillars in the digital economy.

This acquisition reinforces the idea that AI-native infrastructure is now core to software innovation, and investors should be watching closely as these capabilities shape the future of development.

IonQ Acquires Capella Space to Build Quantum-Secure Satellite Network

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– IonQ has agreed to acquire Capella Space to accelerate its development of a global quantum key distribution (QKD) network.
– Capella’s radar imaging satellites will help enable space-based secure communication for defense and commercial sectors.
– The acquisition follows IonQ’s broader strategy to dominate quantum networking through vertical integration and space-based infrastructure

Quantum computing firm IonQ is doubling down on its ambitions in secure communication. On Wednesday, the Maryland-based company announced a deal to acquire Capella Space, a satellite imaging firm known for its synthetic aperture radar (SAR) technology, in a move designed to supercharge its push into quantum networking.

The acquisition marks a pivotal moment for IonQ, as it shifts from primarily offering quantum computing solutions to developing a space-based quantum key distribution (QKD) network. QKD is seen as essential for enabling unhackable communication channels in a future where classical encryption could be rendered obsolete by quantum computers.

Capella, based in San Francisco, operates four commercial satellites that collect high-resolution X-band SAR imagery, useful for intelligence, disaster response, and maritime surveillance. The company has additional satellite launches planned for this year, which will expand its imaging capabilities and support IonQ’s space-to-space and space-to-ground QKD efforts.

According to IonQ CEO Niccolo de Masi, the acquisition will “deepen and accelerate IonQ’s quantum networking leadership” by combining Capella’s satellite infrastructure with IonQ’s quantum technologies. “We have an exceptional opportunity to accelerate our vision for the quantum internet,” he said.

In addition to providing satellite assets, Capella also brings a valuable facility security clearance, enabling closer collaboration with U.S. defense and intelligence agencies—key customers for quantum-secure communications.

The Capella deal is the latest in a string of strategic moves by IonQ. Earlier this year, it acquired Qubitekk, a specialist in quantum networking, and Lightsynq Technologies, a startup founded by former Harvard researchers focused on quantum memory. IonQ has also signed a memorandum of understanding with Intellian Technologies, a satellite hardware manufacturer, to explore integrating quantum networking into future satellite ground systems.

Capella CEO Frank Backes echoed the enthusiasm, saying the integration of Capella’s radar imaging with IonQ’s quantum computing would enhance global defense and commercial missions through “ultra-secure environments.”

The transaction, expected to close in the second half of 2025 pending regulatory approval, continues a trend of quantum-tech consolidation as players position themselves to meet anticipated demand for secure communications in both government and private sectors. As cyber threats grow and classical encryption ages, the ability to offer end-to-end quantum-secure channels—especially via space infrastructure—may become a competitive necessity.

IonQ’s aggressive strategy has drawn investor interest, with its stock gaining momentum in recent weeks. As the quantum industry matures, vertical integration—spanning hardware, software, and infrastructure—is becoming increasingly critical.

If successful, IonQ’s vision for a global quantum-secure network could reshape how sensitive data is protected and transmitted across borders, laying the groundwork for a new era of secure, quantum-powered communication.

Tripledot Studios Acquires AppLovin’s Gaming Portfolio in $800M Deal, Ascends to Global Gaming Powerhouse

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Tripledot Studios acquires AppLovin’s mobile gaming division for $800 million, expanding its global footprint.
– The deal includes 10 studios and popular titles, boosting Tripledot’s daily active users to over 25 million.
– AppLovin receives a 20% equity stake in Tripledot, signaling a strategic shift towards its core adtech business

In a significant move within the mobile gaming industry, London-based Tripledot Studios has announced the acquisition of AppLovin’s mobile gaming division for approximately $800 million. The transaction, structured as a combination of cash and equity, will see AppLovin become a minority shareholder in Tripledot, holding a 20% stake.

This acquisition encompasses 10 studios and a suite of popular titles, including “Wordscapes,” “Project Makeover,” and “Game of War.” With this expansion, Tripledot’s operational scale will increase to 12 studios across 23 cities, serving over 25 million daily active users and generating nearly $2 billion in annual gross revenue.

Founded in 2017, Tripledot Studios has rapidly ascended in the mobile gaming sector, known for hits like “Woodoku” and “Solitaire.com.” The company’s co-founder and CEO, Lior Shiff, emphasized the strategic importance of this deal, stating, “Acquiring AppLovin’s games portfolio is a big step towards achieving our goal of becoming the world’s most successful mobile game studio.”

For AppLovin, this divestiture marks a strategic pivot towards its core competency in advertising technology. The company, which provides software for app monetization and marketing, reported strong first-quarter earnings, with a 40% year-over-year increase in revenue to $1.48 billion. AppLovin’s CEO, Adam Foroughi, acknowledged the company’s shift, noting, “We’ve never been a game developer at heart,” and expressed confidence in Tripledot’s ability to nurture the acquired studios.

The mobile gaming industry has experienced a slowdown following a pandemic-induced surge, with a 6% decline in downloads last year due to market saturation. Despite these challenges, Tripledot has maintained profitability since its second year of operation, leveraging a diversified portfolio and advertising-driven revenue models.

Analysts view this acquisition as a consolidation move that positions Tripledot among the top-tier independent mobile game companies globally. The deal is expected to close by early summer 2025, pending regulatory approvals. Tripledot plans to invest further in artificial intelligence to enhance game development efficiency and user experience.