Business and Tech News - 4.10.24

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Skool Projekt Staff
April 10, 2024

YouTube Stars Dude Perfect Lands $100M-Plus Investment

Dude Perfect, initiated by five roommates from Texas A&M University in 2009, has secured over $100 million from Highmount Capital to grow into a more expansive media entity beyond its YouTube origins. The investment will be used to bolster their global presence, including hiring a new management team and offering translated content. This funding is part of a larger trend where private investment firms support YouTube-grown talents to widen their audience and business ventures.

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Boeing's Safety Crisis Leads to Big Drop in Deliveries

Boeing's first-quarter airplane deliveries plummeted to their lowest since mid-2021, with only 83 planes, predominantly 737s, delivered amid heightened scrutiny and a production halt by the FAA following a safety incident. The company secured orders for 111 new planes last month, including 85 737 Max jets for American Airlines, despite the challenges. Amidst criticism over delivery delays and quality control issues, Boeing's CEO announced plans to step down, underscoring the company's turbulent period.

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Google Joins Arm-Based Chip Trend with Unveiling

Google plans to launch its custom Axion Arm-based server chips in 2024, aiming to reduce cloud computing costs and catch up with Amazon and Microsoft in the competitive cloud market. The chips, which will be used for YouTube ad workloads, have attracted interest from customers like Snap, signaling Google's cloud segment's significant growth to 11% of its revenue. With promises of 30% better performance and 60% greater energy efficiency compared to x86 VMs, Axion chips represent a significant step forward in Google's cloud infrastructure offerings.

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Blackstone Acquiring AIR Communities for $10 Billion

Following Blackstone Inc.'s announcement to acquire Apartment Income REIT for $10 billion, apartment landlord stocks experienced their largest rally in nearly four months, with the sector's index climbing over 4%. This move by Blackstone, the world's largest commercial real estate owner, has rejuvenated investor confidence in the apartment rental market, wiping out the sector's losses for the year. Analysts now anticipate a surge in positive sentiment toward the real estate sector, evidenced by the sector's recovery to a 0.9% increase for the year after previously being down.

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Norfolk Southern Settles for $600M Over Derailment

Norfolk Southern has agreed to a $600 million settlement for the East Palestine, Ohio, train derailment, addressing class action and personal injury claims within a specific radius. The funds aim to compensate affected residents and businesses for the fallout from the hazardous chemical spill in February 2023. This settlement, pending a federal judge's approval, supplements an additional $104 million Norfolk Southern has allocated for community recovery efforts.

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