Fontainebleau Miami Beach to Borrow $975 Million in Bond Market
  • December 4, 2024

Fontainebleau Miami Beach to Borrow $975 Million in Bond Market

(Bloomberg) -- Fontainebleau Miami Beach, a luxury hotel founded in the 1950s, plans to sell a $975 million commercial mortgage-backed security to refinance its debt. Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsIt seeks to raise around $1.2 billion in debt financing, including the CMBS and a mezzanine loan of as much as $225 million, according to deal documents.Jeffrey Soffer, the indirect maj

Chipmaker Marvell's market value jumps to record high on AI-powered Q4 forecast
  • December 4, 2024

Chipmaker Marvell's market value jumps to record high on AI-powered Q4 forecast

The company's shares jumped nearly 23% giving it a market capitalization of $102 billion. Intel had a market value of $94 billion after its stock fell 2.5%, adding to recent losses after CEO Pat Gelsinger's ouster was announced on Monday. Marvell is on track to exceed its earlier target of $1.5 billion in AI revenue in the current fiscal year, CEO Matt Murphy said on Tuesday.