Billionaire George Soros pivots from Rivian, investing heavily in innovative AI and fintech solutions.
Deals
George Soros made headlines in Q3 2024 by cutting $55 million from his position in Rivian Automotive, a move signaling a shift in focus. While trimming his EV investments, Soros turned to new opportunities, including a $100 million investment in Dropbox. The company recently launched Dropbox Dash, an AI-powered content discovery tool aimed at streamlining workplace collaboration. Dash offers advanced features like content summarization, personalized workspaces, and AI-driven answers, marking a major step in Dropbox's shift toward AI solutions.
Soros also added $47 million to Global Payments, which recently announced the $1.1 billion sale of its medical software unit, AdvancedMD. This strategic divestiture allows Global Payments to sharpen its core focus and allocate $600 million for an accelerated stock buyback plan, boosting shareholder returns.
Lastly, Soros invested $43 million in Salesforce, which unveiled Agentforce 2.0, an updated AI platform designed to build smarter agents. With a new reasoning engine, enhanced agent-building capabilities, and advanced skills tailored for various industries, Agentforce is positioning Salesforce as a leader in generative AI for enterprises.
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