Atos Gets Offer From French State for Strategic Computing Assets

Atos SE said it received an offer from the French state for the group's advanced computing assets, which values the unit deemed critical to the country's nuclear industry at €410 million ($467 million).
The assets include high-performance computing, quantum and artificial intelligence divisions that are expected to generate revenue of about €800 million in 2025, according to a statement on Monday. Atos said it aims to sign a binding agreement in the coming weeks and close the transaction in 2026. The enterprise value includes €110 million in earn-outs based on profitability indicators.

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New York Times

35 minutes ago

• New York Times

NBA star Kevin Durant invests in PSG, to consult on ‘potential' basketball expansion plans

Two-time NBA champion Kevin Durant has expanded his relationship with Qatar Sports Investments (QSI), investing directly into UEFA Champions League winners Paris Saint-Germain as part of a strategic partnership that will also see Durant consult on the club's 'potential plans' to expand into basketball. Advertisement In March, QSI revealed it had been approached about the possibility of launching a basketball franchise in Paris and that it had expressed an interest. The approach related to the NBA's potential expansion into Europe, under the moniker NBA Europe, and plans that have been developed under the leadership of commissioner Adam Silver. The Athletic reported in March that Silver would pitch the NBA Board of Governors with the outline of a plan to launch a new pro basketball league in Europe within the next couple of years. The prospective league had been hoping to attract 16 teams, which would include franchises in markets such as London and Paris, as well as possible defectors from the EuroLeague. Since then, there have been indications from NBA and EuroLeague executives that there may be a way to collaborate. EuroLeague CEO Paulius Motiejunas conceded to The Athletic that 'it is becoming more obvious that we have to work together', while NBA deputy commissioner Mark Tatum said the NBA intends to be the 'operator' of 'the top tier league in Europe.' Sources familiar with the planning, who wished to remain anonymous to protect relationships, confirmed PSG's ambitions in basketball relate to NBA Europe and indicated that it would be for the NBA and EuroLeague to thrash out what happens in Paris, where there is already a Paris team playing in EuroLeague. QSI, along with other major sports investors, are waiting for the NBA to launch its process for franchises in Europe. It remains to be seen whether NBA Europe will be a competitor or if some form of partnership with EuroLeague may develop. Durant's direct investment in PSG is a slightly convoluted affair. The 36-year-old had previously invested a single-digit million shareholding in the team, according to sources briefed on the matter but not authorized to speak publicly. This was made via his investment firm Boardroom, but this injection came via a financial vehicle created by the private equity firm Arctos Sports Partners. Arctos itself had purchased a 12.5 percent stake in the French team in December 2023, a deal which at the time valued PSG at around €4.25billion ($4.58bn; £3.64bn, currency figures based on the rates when the deal was announced). This latest deal, however, sees Durant exit the stake acquired via Arctos, with his exit taken up via other money from the fund, which means Arctos has not diluted and its stake remains at around 12.5 percent. Advertisement Durant has now taken a direct minority stake in PSG through Boardroom in tandem with his business partner and former long-time agent Rich Kleiman. The size of his investment is roughly the same as previously, but PSG is not disclosing the precise sum. In these partnerships, the access to the famous athlete and their connections, clout and expertise is, in any case, more valuable to the Qatari fund, which is not short of money. Durant, whose fourth Olympic gold medal came last year in Paris, said in a release: 'It is an honour to partner with QSI and be a shareholder in Paris Saint-Germain — a club and a city that is so close to my heart. This club has big plans ahead and I can't wait to be a part of the next phase of growth; and to explore new investment opportunities with QSI.' The stake, however, is just one aspect of the deal as PSG and Boardroom have also signed a strategic investment partnership. This means Boardroom and QSI will team up on commercial, investment and media content initiatives, as well as advising on PSG's growth in the U.S., while the parties will also develop merchandise together. Most crucially, perhaps, Durant will consult 'on Paris Saint-Germain's multi-sport strategy, including potential plans in basketball,' the release said, opening the door to Durant leading the way on NBA Europe's launch plans. Nasser Al-Khelaifi, chairman of Qatar Sports Investments, added: 'QSI is pleased to welcome Kevin Durant as a direct shareholder in Paris Saint-Germain and strategic partner of our group. We continually seek to elevate the club and our broader portfolio through high-impact partnerships that bring strategic value, innovation, and global perspective. Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI.' Advertisement PSG's multi-sport empire already includes men's and women's soccer, youth soccer, handball and judo. Basketball will add to the set. PSG recently announced it is looking at fresh sites to build a new stadium away from their current home at Parc des Princes. The team is studying sites in Massy and Poissy and is examining a modern construct that will feature state-of-the-art sports and entertainment options. The club wants its stadium to be part of a multi-functional area and a destination. The team's CEO, Victoriano Melero, told Reuters last week that PSG may take inspiration from SoFi Stadium in Inglewood, Ca., which is a $5billion home to the NFL's Los Angeles Rams and Los Angeles Chargers, while it has hosted headline concerts for superstars such as Taylor Swift. It will also host eight matches during the World Cup in 2026 and events in the Olympic Games in 2028, but PSG have noted how the area has become a sports, entertainment and residential hub in Hollywood Park. The LA Clippers play at the Intuit Dome, a newly opened NBA arena a mile from the stadium. Analysis by senior NBA writer Joe Vardon Paris has always been a coveted market and center to any designs Silver has of starting a new league in Europe. This is no secret, nor is it a secret that the NBA's intended partner there is PSG because of the enormous financial and marketing power of the soccer conglomerate. PSG and its Qatari owners don't need Durant's money, nor, really, even his media company. But they are likely going to build a new arena — Durant could consult. As the league comes online, they'll need a practice facility and coaches, where perhaps Durant could weigh in. Imagine if Durant… played for PSG basketball. At age 36, Durant, who wants to continue playing, can sign a two-year extension this summer (presumably after he's traded by the Phoenix Suns). Silver has suggested it could take a few years to bring NBA Europe online. What if the league launched with Durant as its signature player? Don't rule it out — I have had prominent NBA coaches tell me they'd love to live and coach in Paris once their contracts run out. Advertisement Otherwise, Durant as a name partner with PSG could, conceivably, help in a likely competition for fans with the current Parisian pro team, Paris Basketball, which competes in the EuroLeague and top French pro league, has a new arena, and also holds near exclusivity for games at Paris' largest arena, Bercy.

Fast Company

37 minutes ago

• Fast Company

What to know about billionaire Mark Walter, the L.A. Lakers' new owner

The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence. Mark Walter is CEO of the global investment and advisory company Guggenheim Partners, which is estimated to have more than $325 billion in assets. He's also co-founder and CEO of holding company TWG Global. Forbes estimates Walter's net worth is $6.1 billion. The publication ranked him at No. 216 on its Forbes 400 list last year. Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law. In the mid-1990s, he co-founded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter co-founded in the late 1990s. In addition to Guggenheim, Walter co-founded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance and Delaware Life. It also includes aerospace and defense technology company Shield AI. Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk's AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry. TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women's Hockey League and — through TWG Motorsports — ownership of several auto racing teams including Cadillac Formula 1. Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond and OneGoal.

TechCrunch

an hour ago

• TechCrunch

Meta unveils its Oakley smart glasses

After months of rumors, Meta has officially announced its next pair of smart glasses with Oakley. The smart glasses have double the battery life of the Meta Ray-Bans and are able to capture 3K video. The models are based on Oakley's HSTN (pronounced 'how-stuhn') design. The limited-edition Oakley Meta HSTN model with gold-colored accents costs $499 and will be available for preorder on July 11th. The rest of the collection starts at $399 and is dropping later this summer, Meta says. The glasses feature a front-facing camera, along with open-ear speakers and microphones. You can use the classes to listen to music, take photos, and make and receive calls. The glasses also feature Meta AI, letting you ask questions on the go, such as 'Hey Meta, how strong is the wind today?' or 'Hey Meta, take a video.' The Oakley Meta HSTN glasses can last up to eight hours with typical use and up to 19 hours on standby. You can also charge them up to 50% in 20 minutes. Plus, the glasses come with a charging case that can deliver up to 48 hours of charging on the go. The glasses are available in six frame and lens color combos: warm grey with ruby lenses, black with polar black lenses, brown smoke with polar deep water lenses, black with amethyst lenses, clear with grey lenses, and black with clear lenses. All of these are compatible with prescriptions. Oakley Meta HSTN will be available in the US, Canada, UK, Ireland, France, Italy, Spain, Austria, Belgium, Australia, Germany, Sweden, Norway, Finland, and Denmark. Meta plans to launch them in Mexico, India, and the United Arab Emirates later this year.