Dubai Royal's $50,000-a-Night Resort Flaunts Africa's Future in Luxury Travel
Operated by Jumeirah Group LLC, part of the Dubai ruler's business empire, the island resort reflects a broader surge of global investor interest in African hospitality. From vineyard stays to luxury safaris and gorilla trekking, billionaires, tech moguls and Middle Eastern investors are pouring capital into the continent, seen as one of the last underpenetrated markets for luxury travel.
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Anthropic's $150 Billion Goal: How Amazon and Alphabet Could Benefit From the AI Surge
Artificial intelligence start-up Anthropic is in early talks to raise between $3 billion and $5 billion in a new funding round. The raise could push the company's valuation above $150 billion, according to the Financial Times. That would more than double its current $61.5 billion valuation, reached just a few months ago. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Anthropic Is Growing Fast Anthropic is the company behind Claude, a large language model that competes with OpenAI's ChatGPT. It is backed by Amazon (AMZN) and Alphabet Inc. (GOOG), which have each committed billions in cloud credits and cash. Amazon has already invested up to $8 billion and is reportedly considering further investments to remain among Anthropic's largest shareholders. This funding round comes as competition in artificial intelligence intensifies. OpenAI is preparing to launch GPT-5 and is working with SoftBank (SFTBY) on a separate raise that could bring in tens of billions of dollars. Meanwhile, Anthropic has quietly increased its annualized recurring revenue from $1 billion at the start of the year to over $4 billion, driven mainly by enterprise subscriptions. Investors are closely watching the private AI space, but the real implications may lie with public companies that stand to benefit. Amazon and Alphabet have positioned themselves as infrastructure providers for leading model developers, such as Anthropic. A stronger Claude model, used widely in enterprise software and coding tools, could support growth in Amazon Web Services and Google Cloud revenue. The Middle East Is Calling The funding talks have also drawn interest from Middle Eastern sovereign wealth funds. Anthropic's leadership has expressed concerns internally about taking direct investment from the region, citing political risks. Even so, the company sold $500 million worth of shares to a fund linked to Abu Dhabi in 2023. A broader shift toward sovereign capital could influence how other private AI start-ups raise money. Anthropic remains private for now, but its valuation jump and enterprise growth highlight how quickly the AI market is scaling. Investors seeking exposure are most likely to find it through public companies that enable and support that growth. Using TipRanks' Comparison Tool, we've brought Amazon and Google side by side and compared them to gain a broader look at Anthropic's two most notable backers.
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Magnetic Resources Joins 2 Other ASX Penny Stocks Worth Watching
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NextEd Group Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: NextEd Group Limited offers educational services across Australia, Europe, and South America with a market cap of A$51.09 million. Operations: NextEd Group's revenue is primarily derived from its International Vocational segment at A$73.79 million, followed by Technology & Design at A$11.29 million, Domestic Vocational at A$9.22 million, and Go Study Group contributing A$6.16 million. Market Cap: A$51.09M NextEd Group Limited, with a market cap of A$51.09 million, primarily generates revenue from its International Vocational segment. Despite being unprofitable and not expected to achieve profitability in the next three years, it benefits from a strong cash runway exceeding three years due to positive free cash flow growth. The company is debt-free but faces challenges with short-term assets not covering liabilities. 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The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:MAU ASX:NXD and ASX:PRN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. 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Business Insider
9 hours ago
- Business Insider
Top 10 Africa cities with more than one million inhabitants
As Africa undergoes rapid urbanisation, a growing number of its cities have surpassed the one million population mark, solidifying their roles as regional economic, political, and cultural hubs. Many African cities now exceed one million residents due to rapid urbanisation. Lagos, Cairo, and Kinshasa are among Africa's largest cities, with Lagos having nearly 16 million residents. Policymakers face challenges like infrastructure gaps and housing shortages due to accelerated population growth. From the sprawling energy of Lagos to the organised chaos of Kinshasa, Africa's largest cities are now home to tens of millions; but what qualifies as a 'city' in population statistics depends heavily on how the term is defined. Recent global data (2023) reveals that at least 10 African cities boast populations exceeding 1 million, with some surpassing 15 million. Each city's classification varies depending on administrative boundaries, governance models, and geographic footprint. These definitions have significant implications for funding, infrastructure planning, and urban policy and international recognition, particularly when distinguishing between metropolises and province-level cities. The ranking, compiled by Visual Capitalist and based on 2023 projections, utilizes three key definitions to measure urban population: city proper, urban area, and metropolitan area. Each definition captures distinct aspects of urban life, governance, and density. Here are Africa's most populous cities, all surpassing the one million mark, along with their respective classifications: Ranking City Country Inhabitants City Defintion 1 Lagos Nigeria 15,946,000 Metropolis 2 Kinshasa DR Congo 14,565,700 Province-Level City 3 Cairo Egypt 9,801,536 City 4 Luanda Angola 9,079,800 Province 5 Abidjan Cote d'voire 5,616,633 City (ville) 6 Johannesburg South Africa 4,803,262 Metropolitan municipality 7 Cape Town South Africa 4,772,846 Metropolitan municipality 8 Nairobi Kenya 4,750,100 Consolidated city-county 9 Kano Nigeria 4,648,400 Metropolis 10 Giza Egypt 4,458,135 City The table highlights some of Africa's most populous cities, each with well over a million inhabitants. Leading the list is Lagos, Nigeria, with nearly 16 million people, followed closely by Kinshasa, DR Congo, and Cairo, Egypt. These cities exemplify the rapid urban growth seen across the continent. Luanda in Angola and Abidjan in Côte d'Ivoire also reflect this trend, each hosting millions of residents. These population figures underscore the increasing importance of African megacities as economic, cultural, and political hubs in their respective regions. The rising tide of urbanisation These rapidly growing African cities reflect a wider demographic shift, with urban populations projected to double by 2050, according to the UN. Over half of all Africans will live in cities, driven by migration, population growth, and economic change. However, urban expansion has often outpaced infrastructure, leading to housing shortages, congestion, and weak service delivery in cities like Lagos, Kinshasa, and Nairobi.
