Snowflake, in an updated IPO filing, listed a price target of $75 to $85 per share. This could value the data analytics startup at more than $22 billion–or nearly double its $12.5 billion valuation after its last funding in February. The update, in which Snowflake also revealed that Berkshire Hathaway and Salesforce have agreed to each buy at least $250 million in Snowflake stock at its IPO...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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