GTCR and Elliott in advanced talks to acquire CCC Intelligent Solutions
CCC shares rose about 13% in extended trading, while a person familiar with the discussions said no final agreement had been reached.
Nuvacore pursues funding at about $2.5 billion valuation, sources say
The six-month-old chip startup has yet to produce a product and is developing a central processor for data centers.
Two people familiar with Nuvacore's fundraising said the chip startup is trying to raise hundreds of millions of dollars at a valuation of roughly $2.5 billion. The money would support development of a new data center central processor.
The people cautioned that the round remains open and its size and valuation could change. A previous media report put the fundraising target at $200 million or more. Nuvacore declined to comment.
Based in San Jose, California, Nuvacore is six months old and has not produced a product. It announced seed financing led by Sequoia Capital earlier this year. Its founders are Gerard Williams, John Bruno and Ram Srinivasan. Williams, formerly an Apple executive, sold Nuvia, an earlier startup, to Qualcomm in 2021 for $1.4 billion.
Nuvacore has outlined a development approach that puts the chip's core functions ahead of a choice between architectures such as x86 and Arm. The company said this would help its engineers sidestep constraints imposed by particular architectures and optimize the processor for computations prevalent in data centers and AI infrastructure.
Intel and Advanced Micro Devices have historically dominated data center CPUs using x86 technology. Arm-based chip developers have also sought a foothold in that market, with Arm technology used in custom CPUs from Amazon and Microsoft.