SEDG News & Events

As part of a historic funding round, OpenAI said it is raising an additional $10B. Meanwhile, Nvidia-backed Reflection is reportedly in talks to secure $2.5B in funds at a $25B valuation.This week's private company news:Nvidiabacked startup Reflection is in discussions to raise $2.5B at a valuation of $25B, Berber Jin and Kate Clark of The Wall Street Journal, citing people familiar with the matter. The company is looking to build a network of "open source" AI models, which can be used and repurposed by businesses, labs, and universities as needed. JPMorgan Chaseis in talks to participate in the round, the sources added.AMD-backed Vultr, one of the oldest independent cloud providers, is seeking to raise at least $1B in new capital so it can compete with a growing list of startups scrambling for cash to meet the surging demand for AI computing power, The Information's Miles Kruppa, Anissa Gardizy and Valida Pau.Some of the biggest capital raises by private companies this week include:OpenAI– The company said it is raising $10B from investors as part of its historic funding round. Publicly traded companies in the space include Nvidia, Microsoft, and Alphabet.Shield AI– The company announced it is raising $1.5B in Series G funding at a $12.7B post-money valuation and $500M in fixed-return preferred equity financing. The Series G is led by Advent International and co-led by the Strategic Investment Group of JPMorganChase'sSecurity and Resiliency Initiative, with participation from existing investors Snowpoint Ventures, Innovation X Advisors, Riot Ventures, Disruptive, Apandion, and others. A portion of the proceeds will help fund the company's planned acquisition of Aechelon Technology, a Sagewind Capital portfolio company. Publicly traded companies in the space include AeroVironment, Kratos Defense, and Lockheed Martin.Convene Hospitality Group– The global hospitality platform at the intersection of corporate conferences, meetings and experiential events announced it secured $230M in strategic growth capital. The latest funding is provided by new lender, TPG, as well as an additional equity investment from current shareholders, including Ares funds. Publicly traded companies in the space include CBRE Groupand Airbnb.Halter– The global agtech company said it raised $220M in Series E funding at a $2B valuation. Publicly traded companies in the space include Deere, Trimble, and AGCO.Oasis Security– The company announced it raised $120M in a Series B round led by Craft Ventures. Publicly traded companies in the space include CyberArk, Okta, and Zscaler.Unicorns to watch this week:Positron– The AI semiconductor startup, now valued at $1B after a $230M Series B, is riding the AI‑hardware wave with custom chips. Publicly traded companies in the space include Nvidia, AMD, and Intel.Skyryse– The semi‑automated flight operating systems, valued at $1.1B after a $300M Series C, is major player in autonomous aviation infrastructure. Publicly traded companies in the space include Garmin, Honeywell, and Textron.TRM Labs– The blockchain intelligence and analytics platform used by crypto firms and regulators to investigate fraud and financial crime is valued at approximately $1B. Publicly traded companies in the space include Coinbase, Block, and Marathon Digital.Midi Health– Valued at about $1B, the virtual care platform focused on menopausal and midlife women's health has recently raised a $100M Series D. Publicly traded companies in the space include Teladoc Health, Hims & Hers, and CVS Health.Lunar Energy– The maker of home battery systems enabling residential energy storage and grid independence closed a $102M Series D at a valuation of $1B. Publicly traded companies in the space include Tesla, Enphase Energy, and SolarEdge.IPOs to watch:Pershing Square USA, or PSUS- The closed end investment company managed by Pershing Square Capital Management, L.P., announced that it has publicly filed with the U.S. Securities and Exchange Commission a registration statement on Form N-2 relating to a proposed initial public offering of its common shares of beneficial interest. Concurrently with the filing of the N-2 Registration Statement, Pershing Square Inc., the prospective parent company of PSCM, publicly filed a registration statement on Form S-1 with the SEC relating to a proposed initial public offering of its common stock.Student Living EduVation– The company filed with the SEC for an initial public offering by the company of 3.75M ordinary shares. The company stated, "We are offering 3,750,000 Ordinary Shares on a firm commitment basis. We anticipate that Offering price of the Ordinary Shares will be between $4.00 and $6.00 per Ordinary Share. The Resale Shareholders are also offering 5,880,000 Ordinary Shares to be sold pursuant to the Resale Prospectus."Liftoff Mobile– The company announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The total number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC's review process.Cerebras Systems– The AI chipmaker Systems has picked Morgan Stanley to lead its initial public offering, which could raise about $2B in a listing as soon as April, people familiar with the matter told Bloomberg's Ryan Gould, Bailey Lipschultz and Anthony Hughes. Cerebras, which withdrew its previous IPO registration in October, has filed fresh paperwork for an IPO and is set to meet with analysts and prospective investors this month, the report added.OpenAI– The company is accelerating its plans for a public listing as rivalry with Anthropic intensifies, now planning on listing in Q4 of this year, Berber Jin, Corrie Driebusch, and Kate Clark of The Wall Street Journal. OpenAI is holding discussions with Wall Street banks about a potential initial public offering and has hired several executives to oversee its finance team, sources told the Journal.SpaceX- Elon Musk's SpaceX is said to be weighing a confidential IPO filing as soon as March and could seek a valuation over $1.75 trillion in the offering, sources told Bloomberg. The company is moving forward with plans for the biggest-ever listing and expects to submit its draft IPO registration to the Securities and Exchange Commission in March, which would keep it on track for a June listing, the sources are reported to have said. SpaceX could seek a valuation in the IPO of more than $1.75 trillion, some of the sources are said to have added."Private Markets" is The Fly's recurring series of stories on the latest moves in the private sector, largest unicorn companies and initial public offerings to watch. Fly subscribers, add $PRIVATE to your portfolio for alerts on breaking news in the startup and venture capital space.

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.From the hotly-debated high-flier Tesla, Wall Street's newest darling Rivian, traditional-stalwarts turned EV-upstarts GMand Fordto the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with "Charged," a weekly recap of the top stories and expert calls in the sector.Clickto check out Tesla's recent Media Buzz Sentiment as measured by TipRanks.TERAFAB PROJECT:Elon Musk's Terafab project will be built in Austin and run by Tesla and SpaceX, Kara Carlson and Loren Grush of Bloomberg. Musk said he plans to start off with an "advanced technology fab" in Austin with the equipment necessary to make chips of any kind and test them, with plans to start with a smaller scale fab before moving to a larger one.DELIVERIES:UBS is calling for Tesla to deliver 345,000 deliveries in Q1, down 18% quarter over quarter but up 2% year over year, below the firm's prior estimate and consensus, with storage deployments of 15.1 GWh, though deliveries are viewed as less influential on the stock than in the past, the firm tells investors in a research note. Share performance appears increasingly driven by narrative and AI-related initiatives such as Robotaxi and Optimus, while the core auto business remains critical to funding growth investments, including about $20B in planned capex this year, UBS says. The firm has a Sell rating and $352 price target on Tesla shares.SERVICE GAPS:Melius Research tells investors in a research note that the TeslaSemi is receiving attention amid rising oil and diesel prices, highlighting the potential value of electrification and energy diversity. However, skepticism remains about Tesla's ability to compete in the trucking market without significant investments in service and parts distribution, areas where incumbents like Paccarand Caterpillardeploy assets and staff far exceeding the manufacturers' own book value, making uptime a critical differentiator that Tesla currently lacks. The firm has a Buy rating and $590 price target on Tesla shares.FAST-CHARGING:Stellantissaid that owners of Dodge, Jeep, Ram, FIAT and Maserati battery-electric vehicles in North America now have greater freedom in how they charge, thanks to expanded access to more than 27,500 TeslaSupercharger locations. Starting today, Stellantis BEV customers can access Tesla V3 and V4 Superchargers using a Free2move Charge North American Charging System-CCS1 DC adapter. The expanded access is a "major milestone" in Stellantis' public charging strategy, delivering broader fast-charging coverage and intuitive tools for managing every charge, the company said.UBER INVESTING IN RIVIAN:Last week, Rivian Automotiveand Uber Technologiesannounced a partnership to help accelerate both companies' autonomous vehicle plans, expecting to deploy 10,000 fully autonomous R2 robotaxis in the first phase of R2 robotaxi deployment. Initial deployments are expected to begin in San Francisco and Miami in 2028 and will expand to 25 cities by 2031, the companies stated. Uber will invest up to $1.25B in Rivian through 2031, subject to the achievement of certain autonomous milestones by specific dates, building towards a scaled, fully-autonomous fleet of Rivian R2 robotaxis, which will be available exclusively through the Uber platform. An initial $300M investment has been committed to following signing, subject to regulatory approval. Should all milestones be achieved, the companies will have deployed thousands of unsupervised Rivian R2 robotaxis across 25 cities in the U.S., Canada, and Europe by the end of 2031.The companies also have the option to negotiate the purchase of up to 40,000 more autonomous Rivian R2 vehicles beginning in 2030. RJ Scaringe, Founder and CEO of Rivian said: "We couldn't be more excited about this partnership with Uber - it will help accelerate our path to level 4 autonomy to create one of the safest and most convenient autonomous platforms in the world. The scale of Rivian's growing data flywheel coupled with RAP1, our state-of-the-art in-house inference platform, and our multi-modal perception platform make us incredibly excited for the rapid advancement of Rivian autonomy over the next couple of years." Dara Khosrowshahi, CEO of Uber said, "We're big believers in Rivian's approach-designing the vehicle, compute platform, and software stack together, while maintaining end-to-end control of scaled manufacturing and supply in the U.S. That vertical integration, combined with data from their growing consumer vehicle base and experience managing the complexities of commercial fleets, gives us conviction to set these ambitious but achievable targets."ADJUSTED EBITDA TARGET:In a regulatory filing, Rivian noted that the company no longer expects to be adjusted EBITDA positive in 2027 due to an expected increase in R&D spend associated with the acceleration of its autonomy roadmap after Rivian and Uber announced their partnership deal.BUY LUCID:Citi analyst Michael Ward initiated coverage of Lucid Groupwith a Buy rating and $17 price target. The firm believes Lucid has reached a "positive inflection point." The company launched Gravity in Q4 of 2025, is on track to begin Cosmos production in Q of 2026, and its Uber robotaxi agreement is expected to begin commercial operations by year-end, the analyst tells investors in a research note.MOVING TO THE SIDELINES:Macquarie downgraded XPengto Neutral from Outperform with a price target of $19, down from $24. The firm likes XPeng's physical AI "optionality" but says the company's volume growth "is no guarantee this year." The stock typically outperforms when XPeng releases a "clear hit product," but it remains too early to judge if the upcoming GX or new Mona SUV series in the second half of 2025 will have a similar impact, the firm tells investors in a research note. Macquarie downgraded the shares after cutting XPeng's loss per share estimate to reflect the company's higher spend.US Tiger also downgraded XPeng to Hold from Buy with a price target of $20, down from $28. The company reported a "solid" Q4 and achieved its first-ever quarterly net profit, but the near-term outlook appears "soft," and growth remains back-end loaded, the firm tells investors.WEAKER GUIDANCE:Goldman Sachs analyst Tina Hou downgraded Li Autoto Neutral from Buy with a price target of $19, down from $24, post the Q4 report. Li issued 2026 guidance below expectations for volume and gross margins, the analyst tells investors in a research note. Goldman expects the company to enter two quarters of widening net profit loss with "lackluster" volume growth and "depressed" vehicle gross margins. This is due to a by lack of new model launches, raw material and memory cost inflation, and LI's higher mix of the low-margin i6, contends the firm.ENERGY PRICES UP:Jefferies upgraded SolarEdgeto Hold from Underperform with a price target of $49, up from $30, as the Middle East conflict drives volatility in European energy prices. This current impact is mirroring the Russia-Ukraine crisis, which boosted SolarEdge's Europe revenue to a peak of $1.9B in 2023 from $630M in 2020, notes the firm, which expects a potential, but "not as dramatic," demand surge in Europe to support earnings.

SolarEdge is down -10.8%, or -$5.57 to $46.16.