On August 21, Apollo Global Management (NYSE:APO) disclosed in a letter that hackers gained unauthorized access to some of its cloud platforms between July 6 and July 10, exposing names, dates of birth, addresses, and Social Security numbers. The breach lands weeks after Apollo told investors its ***** ets under management had crossed $1 trillion for the first time, a milestone built in part on convincing individuals and retirees to trust the firm with their money. Now Apollo has to convince some of those same people it can protect their data too.
Apollo's second quarter showed why the growth story still has legs. ***** ets under management reached $1.05 trillion, up 25% year over year, while fee-related earnings hit a record $785 million, also up 25%, and management fees climbed 23% as third-party money kept arriving across credit and equity strategies. Origination volume totaled $74 billion for the quarter, pushing the trailing 12-month figure to nearly $320 billion, and that tally does not yet include the $35 billion financing Apollo arranged for Broadcom's new AI computing platform, the largest private credit deal ever recorded, since Apollo only books revenue once financing closes rather than when it is announced.
CEO Marc Rowan frames Apollo's opportunity as bigger than private equity or credit alone. He argues the industry's client base is expanding from a single source of institutional demand into six categories, including individuals, insurance companies and 401(k) plans, and Apollo is building toward that shift with daily net ***** et value pricing on its credit products and a partnership with Intercontinental Exchange that has already ***** igned more than 2,000 identifiers to Apollo ***** ets. Performance backs up the pitch: Apollo's Fund X has generated a 21% net internal rate of return, well ahead of the 14% industry benchmark for its 2023 vintage.
The breach is the more immediate problem, and it fits a pattern. Reuters has reported that dozens of financial institutions, including Uber and Levi Strauss, were recently targeted by the same kind of ransom-seeking hackers, who built fake websites designed to steal passwords from employees at private equity and financial firms through phone-based social engineering rather than any technical exploit. Apollo says its investigation is ongoing and it has found no evidence yet that the stolen information has been posted publicly or used for identity theft, and it is offering affected individuals free credit monitoring and identity protection.

#apollo #credit #management #private

Exxon is in the running for Shell's U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments.
The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the unnamed sources also told the publication. The potential buyers have submitted non-binding offers to Shell, with these ranging from offers to buy parts of the business to offers for the whole division.
Shell's chemicals business in the United States comprises four facilities in Louisiana, Texas, and Pennsylvania that make chemicals used in a range of industries, from plastics production to detergents.
Shell has made two **** et sales recently, one of its onshore wind and solar power business in Europe and the other of a stake in a gas project offshore Cyprus. The wind and solar power deal went to TotalEnergies and involved 500 megawatts of combined renewable generation capacity in operation and in development, as well as a pipeline of projects for future development across Italy, the Netherlands, Spain, and the UK.
The transaction is subject to regulatory approvals and is expected to complete by the end of 2026, Shell said earlier this month in the announcement of the deal with TotalEnergies.

#business #chemicals #unnamed #wind

The ****** le of the "Bond King" is somewhat in contention. Many would give it to Bill Gross, though over the years, a younger Jeffrey Gundlach has at least shared the ****** le. In any case, when Gundlach posts something like this, it is worth . . . peeling back, shall we say?
Gundlach took aim at Wall Street's newest financial engineering trend. His beef? Nvidia's (NVDA) agreement with major private credit and ****** et management firms such as Apollo, BlackRock, Blackstone, KKR, and Goldman Sachs.
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#gundlach #bill

Artificial intelligence is becoming as much a financing challenge as a technology challenge. The biggest AI developers are racing to deploy gigawatts of computing capacity, but the chips, networking equipment, and data centers required to support that expansion cost tens of billions of dollars. That is creating an opening for companies that can do more than manufacture the hardware.
Broadcom (AVGO) appears to be exploiting that opening. It is reportedly negotiating a financing package that could exceed $60 billion in senior debt and approach $100 billion when a potential $30 billion junior tranche is included. Apollo Global Management (APO) and Blackstone (BX) are considering participation.
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#reportedly #broadcom

Wall Street has spent the last week absorbing Nvidia's (NVDA) plan to arrange half a trillion dollars of other people's money, and the sharpest objection came from someone who was explicitly trying to argue the other side. Asked on the All-In podcast published Aug. 14 where the arrangement could break, David Sacks, while still an overall bull on AI and similar, is acutely aware of the risks of the massive, multi-trillion-dollar AI buildout, saying, "The biggest risk to me is not on the demand side," he said. "The biggest risk is that you get a glut of compute and you get an overbuild. And in the same way that we had dark fiber after the dotcom crash, if you had dark GPUs, that'd be a disaster for everyone."
On Aug. 10, Nvidia said it had signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS), and KKR (KKR) to establish independent compute financing platforms to "mobilize over $500 billion of third-party capital for the buildout of AI infrastructure over time." The release adds that the partnerships "remain subject to execution of the final agreements." Meaning, that figure is an aspiration, not raised money, not committed money, and not Nvidia revenue. Several outlets blurred the distinction.
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#NVIDIA #trillion #side #dark

On August 17, Nvidia (NASDAQ:NVDA) agreed to guarantee up to $105 billion to help OpenAI lease a massive data center in Pike County, Ohio, being developed by SoftBank-owned SB Energy. The site could reach 8 gigawatts of capacity, with the first 800 megawatts due online in 2028, and OpenAI has signed on for 20 years. Nvidia will also put $1.5 billion directly into SB Energy and will be the facility's exclusive chip supplier. It's the latest example of the company financing the very infrastructure that runs its own chips, a habit that keeps expanding even as it keeps drawing scrutiny.
The idea behind the guarantee is that Nvidia is using its balance sheet to lock up long-lived sites where its chips can run across multiple hardware generations, and the numbers behind that bet keep climbing. Revenue growth is expected to accelerate toward 97% this quarter, up from 85% the quarter before, as the company rolls out its new Rubin platform. Jensen Huang has floated $1 trillion in combined revenue across 2026 and 2027, which implies roughly $600 billion in fiscal 2028 alone. Demand isn't limited to hyperscalers, either.
SpaceX has said it will build its AI infrastructure exclusively on Nvidia chips, targeting 10 gigawatts of compute by the end of 2027, a build-out estimated to cost $150 billion to $250 billion. Add in the four largest hyperscalers, expected to spend roughly $700 billion on AI chips this year, plus a possible OpenAI or Anthropic IPO that could free up even more capital, and the picture is a company still early in monetizing an entire computing shift. The Ohio guarantee, paired with the $500 billion financing consortium Nvidia formed with six major financial institutions the week before, fits that same playbook: widen the pool of customers locked into its hardware so no single client's slowdown can shake the business.
The obvious pushback is circularity. Nvidia is effectively helping fund a customer's ability to buy Nvidia chips, first through the $500 billion consortium with BlackRock, Blackstone, KKR, Apollo, Brookfield and Goldman Sachs, and now through a direct guarantee tied to OpenAI's Ohio lease. Huang insists this isn't circular financing, but the plan to securitize AI infrastructure into a tradable ******* et class invites comparisons to how mortgage pools were packaged before 2008. Nvidia's exposure here isn't unlimited. It covers a portion of lease and power payments and a minimum-value commitment on the site, not the full $105 billion or all of OpenAI's obligations. But if OpenAI defaults, Nvidia still absorbs the difference between that floor value and whatever the site fetches if it's re-leased or sold.

#openai

Wall Street has spent the last week absorbing Nvidia's (NVDA) plan to arrange half a trillion dollars of other people's money, and the sharpest objection came from someone who was explicitly trying to argue the other side. Asked on the All-In podcast published Aug. 14 where the arrangement could break, David Sacks, while still an overall bull on AI and similar, is acutely aware of the risks of the massive, multi-trillion-dollar AI buildout, saying, "The biggest risk to me is not on the demand side," he said. "The biggest risk is that you get a glut of compute and you get an overbuild. And in the same way that we had dark fiber after the dotcom crash, if you had dark GPUs, that'd be a disaster for everyone."
On Aug. 10, Nvidia said it had signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS), and KKR (KKR) to establish independent compute financing platforms to "mobilize over $500 billion of third-party capital for the buildout of AI infrastructure over time." The release adds that the partnerships "remain subject to execution of the final agreements." Meaning, that figure is an aspiration, not raised money, not committed money, and not Nvidia revenue. Several outlets blurred the distinction.
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#trillion #side #biggest #risk

On August 10, NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang unveiled what he calls his "big concept" for AI financing on CNBC, standing alongside leaders from Goldman Sachs, BlackRock, Blackstone, KKR, Apollo, and Brookfield. Together, the group says it will raise $500 billion, and potentially more, from outside investors to build new AI data centers.
KKR & Co. Inc. (NYSE:KKR)'s head of digital infrastructure, Waldemar Szlezak, described the shift plainly: "You can think about it as a revenue stream."
NVIDIA Corporation (NASDAQ:NVDA) already tried a similar move once before. Almost 11 months ago, it announced a plan to invest up to $100 billion in OpenAI for data centers needing 10 gigawatts of power, but that investment never fully materialized.
That history raises a real question: does this new $500 billion plan mark a genuine shift in how AI gets financed, or another ambitious announcement that outruns the actual contracts behind it?
Nvidia's chips seem to hold real value over time, since customers keep using older-generation GPUs long after a newer model ships. NVIDIA Corporation (NASDAQ:NVDA) also gets the option to backstop 25% of any loan made under the plan, which should help borrowers land better rates than relying on their own credit alone. Big Tech has already shown this kind of financing works at scale: Alphabet, Amazon, Meta, Microsoft, and Oracle together raised more than $150 billion in debt and equity this year, and Intel raised its own stock offering from $15 billion to $20 billion.

#billion #NVIDIA #together

JOHNSTOWN, Pa. – The Pennsylvania Highlands Community College golf team released its fall 2026 season schedule, consisting of six matches beginning in September.
All season events will be against Region 20 opponents Butler County Community College, Community College of Allegheny County and Westmoreland County Community College.
The full schedule is Sept. 11 at North Park Golf Course (Allison Park), Sept. 14 at Glengarry Golf Links (Latrobe), Sept. 18 at Lake Arthur Golf Club (Butler), Sept. 21 at North Park Golf Course, Sept. 24 at Lake Arthur Golf Club and Sept. 28 at Glengarry Golf Links.
At the conclusion of the regular season, the teams will compete in the Western Pennsylvania Collegiate Conference Tournament Oct. 8-9 at Willowbrook Country Club in Apollo, where individual and team champions will be crowned.

#golf #community #season

Associated Press | Ian Harrison: Cody Bellinger is set to begin a rehab ****** ignment later this week after going through another round of workouts, though an exact day is yet to be determined. Boone had said earlier on Sunday that he would begin his rehab on Tuesday, but clarified after the extra inning win that he had misspoke. There was no setback in the time that had lapsed between the two statements, just miscommunication. Still, Bellinger is closer to returning than he was yesterday, and that's what's important.
MLB.com | Bryan Hoch: After his statement was released saying goodbye on Old Timers' Day, it seemed the news was inevitable. Still when news broke yesterday that Tommy John had passed, it didn't make the news any less sad. After spending his final days in hospice care, John leaves a legacy obviously most synonymous with the famous UCL surgery named after him, but also for what he achieved on the field. If you haven't already, be sure to check out John's tribute to him from yesterday as well.
New York Magazine | Adam Elder: When the team announced last week that Apollo Sports Capital, a private equity investor, acquired a stake in the team (up to 15 percent) for $2.6 billion, many started to wonder what that meant for the Yankees, the sport, and how it could possibly affect fans. Unfortunately, there's no clear answer yet for how the Steinbrenner family will use this cash influx, but given that these aren't his father's Yankees, it seems unlikely that Hal will put his investment back onto the field. Worst case scenario is also that they get access to a full private equity playbook of cutting costs (lower payroll, tiered memberships for fans, more expensive tickets and YES subscriptions) and implement that. Let's hope it doesn't come to that.
MLB.com | Max Ralph: If you're wondering what Ryan Weathers has been doing differently to put together his recent string of impressive and successful starts, it's that he's been using his most intriguing pitch, the four-seamer, the least among the pitches in his ****** nal. The timing of this piece could've been dicey since it was published late Saturday night, but Weathers backed this up by spinning a 7.1 inning gem, allowing just one run.

#still #john #inning

AI's infrastructure boom has already been running at a staggering pace, and this week it received a further $500 billion vote of confidence from Wall Street's biggest names.
Nvidia signed memorandums of understanding with six of the world's largest ******* et managers and investment banks, including Blackstone, KKR and Apollo Global Management, to raise the capital to fund what it is calling "AI factories."
While not guaranteed, the deal signals that demand for AI infrastructure is showing no signs of slowing. VCs are backing that same buildout by funding the semiconductors that power it.
Global funding for AI and machine learning semiconductors reached $14.1 billion in the first half of the year, according to PitchBook's latest AI Report, on track to surpass last year's annual total by almost 50%. Both Q1 and Q2 this year are the two highest quarters on record for investment. Deal count is also projected to land above 2025's figure.
"AI is not just a tool, it redefines technology," Sriram Viswanathan, founding managing partner of deep tech VC firm Celesta Capital, said. "If you accept the notion that everything is going to change, the question is, what is the tip of the spear? That is semiconductors, because that powers everything."

#Semiconductors #infrastructure #billion

Nvidia Corporation (NVDA) is once again putting itself at the center of the artificial intelligence (AI) investment boom, but this time the story goes beyond selling high-performance chips. CEO Jensen Huang says AI compute is becoming an "investable **** et class," as the company works together with some of the world's largest financial institutions to mobilize more than $500 billion in third-party capital for AI infrastructure.
Nvidia is partnering with six major **** et managers: Apollo Global Management (APO), Blackstone (BX), BlackRock (BLK), Brookfield **** et Management (BAM), The Goldman Sachs Group (GS), and KKR & Co. (KKR), to mobilize more than $500 billion in financing for AI data centers and Nvidia hardware. The initiative aims to make AI computing infrastructure a financeable, revenue-generating **** et similar to commercial real estate or other long-term infrastructure.
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#revenue

AI's infrastructure boom has already been running at a staggering pace, and this week it received a further $500 billion vote of confidence from Wall Street's biggest names.
Nvidia signed memorandums of understanding with six of the world's largest ****** et managers and investment banks, including Blackstone, KKR and Apollo Global Management, to raise the capital to fund what it is calling "AI factories."
While not guaranteed, the deal signals that demand for AI infrastructure is showing no signs of slowing. VCs are backing that same buildout by funding the semiconductors that power it.
Global funding for AI and machine learning semiconductors reached $14.1 billion in the first half of the year, according to PitchBook's latest AI Report, on track to surpass last year's annual total by almost 50%. Both Q1 and Q2 this year are the two highest quarters on record for investment. Deal count is also projected to land above 2025's figure.
"AI is not just a tool, it redefines technology," Sriram Viswanathan, founding managing partner of deep tech VC firm Celesta Capital, said. "If you accept the notion that everything is going to change, the question is, what is the tip of the spear? That is semiconductors, because that powers everything."

#Semiconductors #deal #infrastructure

Nvidia (NVDA) was reversing higher Tuesday after a nearly 3% fall to start the week.
The stock has formed a clear base amid earnings reports from key players in the artificial intelligence field, including Advanced Micro Devices (AMD), Alphabet (GOOGL), Amazon (AMZN) and Microsoft (MSFT).
With a market cap of $5.3 trillion, Nvidia has reclaimed its crown as the most valuable company on the stock market. Apple (AAPL) was knocked off that perch recently after the stock sold off following its earnings report. Is Nvidia stock a buy or sell now?
On Monday, the company announced its partnership with six Wall Street financial institutions, BlackRock (BLK), Blackstone (BX), Goldman Sachs (GS), KKR (KKR), Brookfield (BN) and Apollo (APO) to raise $500 billion in capital for its artificial intelligence buildout.
Meanwhile, Taiwan Semiconductor (TSM) on Monday reported July sales of $14.5 billion, or a 45% increase annually.

#NVIDIA #Stock #earnings #company

Chinese tech giant Baidu (BIDU) is set to report its second-quarter results on Aug. 18, before the market opens. Ahead of the results, the company's stock is facing pressure from its legacy business. However, Baidu's other business segments have been surging, such as its AI-powered marketing business.
Moreover, Baidu's autonomous driving business is making inroads in Europe. Apollo Go, the company's autonomous ride-hailing platform, has started road-testing the platform's sixth-gen autonomous vehicle (RT6) in London, in a partnership with Freenow by Lyft (LYFT), with public rides expected next year. And, Baidu is eyeing a $50 billion IPO of its AI chip unit Kunlunxin. This is a big step for Kunlunxin, which has drawn interest from TikTok-owner ByteDance.
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#baidu

"Is there an AI bubble?" is such a tired thought. Here's something altogether more wired: The AI boom is paying off, but not in a way that the current equities market has accounted for. The success of the technology in one area of the economy could make the bubble real in another, more precisely.
In a blog post published on Friday, Apollo Chief Economist Torsten Slok highlighted that the parts of the AI value chain with the highest profit margins—companies making AI models and applications—actually have the lowest levels of profitability, a departure from the standard business model of, well business, in which profit margins are higher for companies selling an end product to consumers.
Slok broke down AI companies into four categories: models and applications, cloud and compute, energy and grid, and silicon and equipment. Using data from Pitchbook and Bloomberg for companies including OpenAI, Anthropic, Microsoft, Amazon, Constellation Energy, Nvidia, AMD, and Micron, Slok calculated that silicon and equipment—such as chipmakers—has the highest profit margin, 41%, in the AI value chain. Meanwhile, models and applications—like Anthropic—have a -59% operating margin.
Slok warns that this sharp disparity is because money from the AI boom is not coming from natural demand for AI applications, but rather shareholders hoping to cash in on what they hope is the next technological revolution.
"AI boom's profits are currently being funded by investors rather than earned from customers," Slok said. "The upstream margins are real, but they are paid for out of capital raised by the layer losing money, not out of cash generated by end demand."

#profit #boom

Palantir Technologies (PLTR) is a leading American software company specializing in big data ****** ytics and artificial intelligence platforms. Founded in 2003 and headquartered in Miami, Florida, Palantir develops powerful data integration systems like Gotham, Foundry, Apollo, and its flagship AI Platform (AIP). The company serves a diverse clientele, including federal agencies, defense departments, international governments, and major commercial enterprises, helping them transform fragmented data into actionable intelligence and operational strategies.
Palantir has become synonymous with sovereign AI capabilities, empowering organizations to secure their data infrastructure while leveraging advanced machine learning for decision-making.
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#palantir

Is there anyone out there more equipped to speak on kindness than Hollywood's wholesome Tom Hanks?
Hanks is perhaps best known for his starring role in the 1994 film "Forrest Gump," playing a sweet Alabama man who spends his adult life trying to reconnect with his childhood love, Jenny. The role earned him his second Oscar for Best Actor in a Leading Role. His first win came just one year earlier for playing Andrew Beckett in "Philadelphia."
During his decades-long career, Hanks has starred in other iconic films, such as "Cast Away," "Big," "Saving Private Ryan," "A League of Their Own," "Apollo 13," and the Mister Rogers biographical drama "A Beautiful Day in the Neighborhood."
His popularity has spanned generations through his work in the "Toy Story" film franchise. He has voiced Sheriff Woody in all five "Toy Story" movies, including the most recent, which premiered in 2026. Hanks has also voiced the character in numerous other spin-offs and shorts.
In addition to his work in cinema, Hanks has appeared in TV series, including "Bosom Buddies," "Family Ties," "Electric City," and more.

#role

By Raphael Satter, AJ Vicens and Anirban Sen
WASHINGTON, Aug 6 (Reuters) - Ransom-seeking hackers who use phone calls to compromise their victims targeted dozens of prominent U.S. financial institutions and other businesses over the past month, according to Google and internet ‌intelligence data reviewed by Reuters.
The data shows the hackers devised websites aimed at stealing passwords from employees of private equity firms ‌and companies including Blackstone, Bridgewater **** ociates, Apollo Global Management, Bain Capital, KKR, TPG, CME Group and Moody's, as well as a host of financial companies and other businesses. Internet company Google said in a blog post about the hacking campaign published on Thursday that the hackers operate under a range of names, including Redact, Pink, Falcon, and Helix.
Google declined to comment on Reuters findings. It said in some cases companies, which it did not name, paid ransoms to the hackers. Reuters could not establish which companies the hackers successfully compromised.
Experts say the hackers' use of low-tech tactics such as phone calls to target the ‌financial industry illustrates how, despite sophisticated security programs and ⁠AI-driven threats, the oldest tactics still rank among the most effective. If successful, the hacks could compromise data of some of the biggest U.S. private equity firms that provide capital to companies.

#data #capital

Former England rugby international Joe Marler is poised to make history as the first celebrity Gladiator to join the popular BBC programme.
The 36-year-old will enter the Sheffield arena as his alter ego, Mauler, for special appearances "packed with power, personality and plenty of surprises" when the show returns in 2027.
Marler's debut marks a new chapter for the iconic game show, which pits contestants' speed, power, endurance, and agility against elite athletes.
Hosted by the father-son duo Bradley and Barney Walsh, the upcoming series will also feature familiar Gladiators such as Apollo, Comet, Diamond, Nitro, and Dynamite.
While Marler is the first celebrity to officially join the team of elite athletes, the arena has previously welcomed famous faces. An all-star spin-off saw personalities like Vogue Williams, Joe Wicks, Rob Beckett, and Joel Dommett take on the challenges.

#marler #first #celebrity #arena

Exactly 27 years to the day that Don Garber was introduced as Major League Soccer's second commissioner in 1999, LAFC co-managing owner Larry Berg pledged to improve on his predecessor's success upon taking over MLS' leading role on Jan. 1, 2027.
"My responsibility is to work with our clubs, our owners and everyone across this league to build on that foundation to help Major League Soccer reach its full potential," Berg, 60, told media members and hundreds of league employees Tuesday afternoon at the league's Manhattan headquarters.
Garber helped build MLS from a fledgling operation fighting to stay afloat and relevant to a 30-team behemoth with soccer-specific stadiums, youth academies and developmental leagues where the average franchise is valued at $767 million, a 39% increase since 2021. Of the 30 most valuable global soccer clubs, seven of them are MLS teams, led by Inter Miami, which stars Lionel Messi, arguably the greatest player in the sport's history. Sponsorship revenue in 2025 was an estimated $716 million, up 8% year over year.
But there are plenty of growth areas Berg, a former senior partner at Apollo Global Management and 26 North, wants to utilize as commissioner. The co-chair of MLS' sporting and competition committee, Berg has the full backing of league owners — who unanimously approved his appointment over the other finalist, former Fox executive David Nathanson — to enact meaningful changes to supercharge the league's growth. Garber already spearheaded a change in the league's calendar, which will switch to a fall-to-spring season starting in 2027 to align with the European leagues. That, Berg said, will greatly help the quality on the field, but so will changing the league's roster investment model so teams are able to acquire better players and build deeper rosters.
MLS currently has a $6.4 million salary cap, but various roster exceptions enable the majority of 2026 payrolls to be in the $12-21 million range. Owners have agreed that the current system is too restrictive. Berg said his No. 1 job is enhancing the roster investment model so teams can have more freedom to construct teams that work best for their markets.

#berg #teams #roster

Yes — it's worth an English version. The strongest angle is not simply who Larry Berg is, but what his appointment signals for MLS after Don Garber.
Larry Berg has been a managing owner of LAFC since 2016 and is a familiar figure to those who follow the Los Angeles club closely. His appointment marks a generational shift for MLS as the league enters the post-2026 World Cup era.
Berg grew up in the Philadelphia area and has played football since he was eight. He earned an economics degree from the Wharton School before completing an MBA at Harvard Business School.
He spent more than three decades at Apollo Global Management, where he was a senior private equity partner. Berg retired from the firm in 2022 and later joined 26North, the investment company founded by Josh Harris.
His name will already be familiar to longtime LAFC observers.

#larry #familiar #english

Six years after the pandemic pushed heavily leveraged companies into distress, some of the lenders that took control are beginning to cash out.
Tailored Brands, owner of clothing chain Men's Wearhouse, filed on July 10 to return to the public markets. Credit investor Silver Point Capital, which has owned the business since its 2020 restructuring, will remain the principal shareholder.
Strategic Value Partners and Sixth Street Partners sold $743 million of LATAM Airlines stock in a secondary equity offering in February, winding down a stake they inherited through the bankruptcy of Latin America's largest airline holding company in 2022.
Aeroméxico, whose largest creditor was Apollo Global Management, has traded in New York since November. The listing raised $223 million and came three years after Mexico's flagship carrier embarked on a $5 billion post-bankruptcy fleet modernization plan.
With defaults and bankruptcies edging up once more, these are useful case studies of what happens when lenders take the keys to a company. But many private credit managers appear already to have learned their lessons, according to bankruptcy experts.

#partners #million #largest #tailored

L1 Capital, an investment management firm, released its "L1 Capital International Fund" (unhedged) second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter discusses the current investment environment as a 'two-speed' but resilient global economy, accompanied by an uncertain future. The letter explores the potential of an AI bubble, distinguishing between strong fundamentals and speculative momentum. Additionally, the market displays a 'narrow' character, marked by high exuberance and ******* ounced over-pessimism. Against this backdrop, the Fund returned +2.6% (net of fees) during the June 2026 quarter, compared to the benchmark return of +12.5% (all in A$). The underperformance was driven more by which investments were not held in the Fund. The Fund remains focused on quality, valuation and the avoidance of permanent capital loss, and believes the portfolio is positioned to deliver attractive risk-adjusted returns for patient investors. In addition, you can check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, L1 Capital International Fund highlighted CDW Corporation (NASDAQ:CDW). CDW Corporation (NASDAQ:CDW) is an information technology (IT) solutions company that operates through its Commercial, Government, and Education segments. On July 17, 2026, CDW Corporation (NASDAQ:CDW) closed at $133.24 per share. One-month return of CDW Corporation (NASDAQ:CDW) was 7.83%, and its shares lost 24.67% over the past 52 weeks. CDW Corporation (NASDAQ:CDW) has a market capitalization of $17.02 billion.
L1 Capital International Fund stated the following regarding CDW Corporation (NASDAQ:CDW) in its Q2 2026 investor update:
"CDW Corporation (NASDAQ:CDW) is a leading provider of products and solutions in the information technology (IT) industry in North America and the U.K. It acts as a value-added reseller for many of the leading IT businesses. Management is executing solidly in subdued market conditions. Most of the AI implications for CDW are second-order. For example, clients may spend less on the products and solutions sold by CDW and more on AI-centric solutions.
We divested CDW to fund larger investments in several high-quality businesses that are not AI sensitive and trading below our ******* sed fair value, thus offering a compelling investment opportunity particularly for investors who are less driven by short term momentum and have a longer-term investment horizon. Examples include American Express, Apollo Group, Danaher, HCA and ICE."

#corporation #solutions

Both private equity firms and deep-pocketed individuals continue to snap up stakes in professional sports teams—with the most recent being Vinod Khosla's family purchasing the Seattle Seahawks for a record $9.6 billion.
The league allowed private equity to acquire minority stakes in 2024, and there are now six PE-backed NFL franchises, according to PitchBook's Private Equity Sports Investment dashboard. NFL rules block investment firms from becoming majority team owners, confining them to passive minority stakes. But the value of those minority investments, coupled with individuals buying teams outright, has skyrocketed as the NFL and other US pro sports leagues have made it easier for teams to take in outside capital.
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Another five teams have ties to private capital through their owners, who have made their fortunes in venture capital and private equity. The previous valuation record for an NFL team was set in 2023, when a group led by Apollo Global Management co-founder Josh Harris bought the Washington Commanders for $6.05 billion.
In the first instances, Arctos Partners in December 2024 bought a 10% stake in the Buffalo Bills, and Ares Management became a 10% owner of the Miami Dolphins that same month.

Palantir Technologies Inc. (NASDAQ:PLTR) is one of our Best Software Stocks to Buy in 2026. Recently, on July 2, DA Davidson upgraded Palantir Technologies Inc. (NASDAQ:PLTR) from Neutral to Buy and also raised the price target from $165 to $175.
The firm noted that the company has grown into its valuation, due to profits rising sharply and the stock multiple compressing. This has created what ***** ysts call a timely buying opportunity. DA Davidson highlighted that the company holds several competitive advantages over its peers and noted that AI is only making these advantages more prominent.
A key point that the firm highlighted in its research note is Palantir's ability to swap out the AI models underneath its platform. DA Davidson sees this as removing the biggest perceived threat to the business, which is the fear that customers would bypass Palantir and go directly to AI labs like Anthropic or OpenAI. The firm believes that the flexibility positions the company as a layer that customers use to orchestrate AI models generally.
Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that develops and deploys data integration and ***** ytics platforms for government agencies, defense organizations, and enterprise clients. Its notable products include Palantir Gotham, Foundry, and Apollo.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Palantir Technologies Inc. (NASDAQ:PLTR) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday's market rotation. During the episode, Cramer was bullish on the company, as he said:
The only one right now that I actually trust is Palantir. This is the fastest grower of the stocks I follow, and it's been crushed. It's down 80 points from its high. Today, it finally showed some signs of life.
Stock market data. Photo by Jakub Zerdzicki on Pexels
Palantir Technologies Inc. (NASDAQ:PLTR) develops data ******* ytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, ******* yze, and act on complex data. During the June 18 episode, a caller mentioned that they had started a position when the company came public and asked whether they should add more or sell, and Cramer responded:
Oh boy, let me think about this, let me think about this. I think it's fine as long as you recognize, I just want to see what they've pushed it down to… yeah, I thought so, they really clubbed it today, as long as you recognize it as a long-term growth story. What's happened is the growth wasn't very exciting to people. The growth hasn't slowed down, just the stock.

Is BIDU a good stock to buy? We came across a bullish thesis on Baidu, Inc. on Baidu, Inc. on La Newsletter De Momentum's Substack by Momentum Financial. In this article, we will summarize the bulls' thesis on BIDU. Baidu, Inc.'s share was trading at $117.94 as of July 1st. BIDU's trailing and forward P/E were 78.19 and 25.91 respectively according to Yahoo Finance.
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Baidu, Inc. provides internet content, value-added telecommunication-based, internet map, and online audio and video services in the People's Republic of China. BIDU is positioned as a leading Chinese technology company with its Apollo Go robotaxi platform emerging as the largest autonomous mobility network, placing it at the forefront of the expanding robotaxi market. While Tesla has dominated investor imagination in autonomy, Baidu has already operationalized large-scale deployments across more than 20 cities, benefiting from China's policy tailwinds, including national strategic prioritization of autonomous driving.
Read More: 15 AI Stocks That Are Quietly Making Investors Rich
Read More: Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential

Austin Trout wanted to celebrate the Fourth of July in style, but he ended up on the wrong side of the fireworks.
On Friday night, Trout faced off with Ben Bonner in the main event of BKFC Liberty Brawl at Xfinity Mobile Arena in Philadelphia. Since moving to bare-knuckle in 2023, the former WBA boxing champion had put together a strong run in BKFC, stacking up five wins in a row, including winning the BKFC welterweight championship. But that run came to an end against Bonner, who brutally knocked him out in the second round.
Trout cut quite the scene walking to the BKFC ring, coming out in homage to Apollo Creed in Rocky IV, wearing the star-spangled outfit and trunks, with an accompanying musical act performing James Brown's version of Living in America.
Unfortunately for Trout, it appears he never actually watched Rocky IV, because while he didn't mean the same tragic end as Creed does in the film, Bonner did get the better of Trout for the fight, ultimately flooring him with a thudding right hand in the second round, finishing the fight.
It was a tough scene for the 40-year-old Trout, but a huge win for Bonner, who also claimed the BKFC lightweight **** le.

McKesson Corporation (NYSE:MCK) is one of billionaire Cliff Asness' top 10 healthcare stock picks. On June 23, McKesson Corporation (NYSE:MCK) issued a recap of its annual McKesson ideaShare 2026 event and stated that it spotlighted AI-powered solutions for independent pharmacies. The conference was held between June 18 and June 21 at the Colorado Convention Center in Denver, and it brought together nearly 5,000 independent community pharmacy professionals from across the US.
Source: Unsplash
McKesson noted that the event centered on helping independent pharmacies navigate a rapidly shifting healthcare landscape. It added that major themes were the integration of artificial intelligence into pharmacy operations, the expansion of patient care services beyond traditional prescription dispensing, and the growing importance of community-based care as a driver of better health outcomes.
For the first time at ideaShare, McKesson hosted a Product Showcase where attendees could evaluate new tools and vote on the solutions they believed would have the greatest impact on their businesses and patients. The company noted that this shift gave pharmacy owners a more direct role in shaping the products and services offered to them.
Meanwhile, on June 2, McKesson closed a strategic investment deal with funds managed by affiliates of Apollo, in which Apollo acquired a minority stake in McKesson's Medical-Surgical Solutions (MMS) business. The transaction had been announced about six weeks earlier, on April 20.