hodler

18 May 2026, 12:07

Saylor’s Strategy Reloads With a New Multi-Billion-Dollar Bitcoin Purchase

After several weeks of modest bitcoin acquisitions and even a few missed opportunities, the world’s largest corporate holder of the asset has returned with full force. Michael Saylor’s NASDAQ-listed business intelligence software just announced buying 24,869 BTC for a whopping $2.01 billion at an average price of just shy of $81,000 per unit. This brought its entire stash to a massive 843,738 BTC bought at an average price of $75,700 per bitcoin. Strategy has spent almost $64 billion to accumulate its substantial fortune, which is slightly in the green now, given BTC’s price. The stash is currently worth $65.2 billion. Strategy has acquired 24,869 BTC for ~$2.01 billion at ~$80,985 per bitcoin and has achieved BTC Yield of 12.6% YTD 2026. As of 5/17/2026, we hodl 843,738 $BTC acquired for ~$63.87 billion at ~$75,700 per bitcoin. $MSTR $STRC https://t.co/fiDHciki9e — Michael Saylor (@saylor) May 18, 2026 Recall that the company’s previous BTC purchase was a lot more modest , spending just $43 million to accumulate 535 units. Moreover, it missed the previous business week, while it announced a significant $12.5 billion loss for Q1 2026 due to the cryptocurrency’s falling price. Separately, Strategy said last week that it plans a major note repurchase of approximately $1.5 billion in aggregate principal amount of the notes. Interestingly, it also left the door open to potential bitcoin sales, as it has been speculated over the past several weeks. The post Saylor’s Strategy Reloads With a New Multi-Billion-Dollar Bitcoin Purchase appeared first on CryptoPotato .

18 May 2026, 11:54

Next Technology: Dilution Overpowers Bitcoin Exposure

Summary Next Technology Holding Inc. shifts from Strong Sell to Hold as core business revenue emerges but execution remains unproven. NXTT’s aggressive dilution, including a 200-for-1 reverse split and subsequent 51x share increase, severely erodes per-share BTC NAV. Recent $157M raise was highly dilutive, with proceeds earmarked for working capital, not accretive Bitcoin purchases. Despite an over 50% discount to NAV, collapsing SaaS margins and compliance risks keep NXTT away from Buy territory. When I initiated coverage of Next Technology Holding Inc. ( NXTT ) last June, I had utmost skepticism for what I found about NXTT’s core operations , including the lack of a clear product offerings and no backstop business beyond the Bitcoin ( BTC-USD ) stash at the time. Little did I know that regulators will pick up on some of the same concerns which led to a hearing between Next Technology and regulators October last year. Next has shown signs of improvement in parts of its business. Revenue from its core business was $11.61 million for the full year FY25, compared to just $1.8 million in FY24. While gross margin declined to 15.1% from 59.4% in FY24, despite the higher revenue. This shows that while concern for a backstop business is now partially alleviated, execution still remains to be proven. The surge in Services Revenue is why I am coming off the initial Strong Sell I assigned in my initiating piece and turning softer, though still on the bearish side, because I believe NXTT still has plenty to prove beyond its Bitcoin-backed balance sheet. Back in August when I initiated coverage, the market was pricing NXTT at roughly a 40% premium to its BTC net asset value [NAV] at the time, and I argued that when the market began discounting the operational risks, that premium would evaporate quickly. A lot has happened since then, including the BTC price dip. NXTT also saw a 200-for-1 reverse stock split , a delisting threat from Nasdaq, and a $157 million registered direct offering that closed last month, among other events. In this piece, I'll focus on the developments that will shape the current fiscal year, what's holding NXTT from a Buy, and if NXTT will ever be re-rated to a Buy among the digital assets Treasury companies. Reverse Split, Nasdaq Compliance, and The Survival Tactic The reverse split is one of the material events since last coverage and a good starting point for what has transpired with NXTT. In September last year, NXTT effected a 200-for-1 reverse stock split, which reduced shares outstanding from around 551 million shares to just ~2.8 million. Next framed the action as a routine administrative action, but the timing suggests Next using the tactic of re-engineering the equity's optics to clean up their corporate profile ahead of the Nasdaq panel hearing. The hearing was linked to Next Technology facing a Nasdaq Staff Delisting Determination last year, based on Nasdaq's assessment that it lacked an underlying operating business and was effectively a public shell (I had earlier flagged this particular lack of evidence of a backstop business as claimed by the company in the last piece). Next management requested the hearing, made additional disclosures, and Nasdaq subsequently withdrew the determination and confirmed the listing would remain intact. That reversal decision was driven by specific disclosures including a comprehensive Saas customer contract disclosure. Next Technology touts itself as a dual-engine company, combining AI-enabled SaaS development with a Bitcoin treasury strategy. Its operating geography is primarily Hong Kong, Singapore, and broader Asia-Pacific markets. The Bitcoin treasury currently stands at ~5,833 BTC, and remains the dominant driver of the balance sheet. Revenue Appears, Barely Q3 last year was when Next proactively tried to prove a lot in terms of revenue visibility, to maintain compliance and listing. I'll be referencing that quarter often in this piece though it isn't the latest reported quarterly result. I'll also progress on to analyze the financial trend from Q3 FY25 to the latest results for Q1 FY26, released about two weeks ago. At the height of the Nasdaq delisting threat, an 8k filing by Next Technology (disclosing contracts signed between June and August last year) showed that NXTT entered into four commercial customer agreements with customers in the hotel business (where they would be developing and implementing Hotel Monitoring and Management Software), develop and deploy smart water-system management for clients, and provide cooling solutions for crypto mining farms (to develop liquid cooling systems for crypto mining), as well as providing AI-enabled monitoring and management systems across these sectors and related training services under a SaaS model with potential for recurring subscription fees. The Q3 FY25 10-Q confirmed $1.79 million in service revenue for Q3 FY25, while the 9-month revenue (January 1 to September end) was also $1.79 million, meaning the entire nine-month revenue figure was concentrated in a single quarter. Gross profit for Q3 was $806,849, which translates to around 45% margin. While that can be considered an encouraging step towards legitimacy, other metrics for that quarter still cast doubt on the reported revenue. Q3’s operating expense structure was in particular lopsided, with share-based compensation around $44.4 million in Q3 alone, resulting in a total operating loss of $44.3 million. While in contrast, the underlying SaaS business produced just under $807k in gross profit. Q3 FY25 income statement (Company filing) The revenue in Q3 also seems conveniently timed in light of the events surrounding the Nasdaq compliance process and hearing. The 200-for-1 split became effective on September 16, then the filing for the four secured contracts were disclosed on September 26, followed by the withdrawal of the Nasdaq delisting notice on September 29 . The fact that very shortly after Nasdaq had told the company it appeared to be a public shell in late August, the four commercial contracts were disclosed in an 8-k filing, I believe this should still raise investors' eyebrows. And whether revenue was secured purely for business reasons or partly as a listing survival tactic, cannot be definitely proved. But the timing makes the optics difficult to separate. Q1 FY26 income statement (Company filing) What makes it more questionable is how revenue has fallen again as of Q1 FY26. In the Q1 FY26 10-Q released just two weeks ago, revenue had fallen back to around $470k, and on that $470k cost of revenue were $387k. Which could imply that whatever commercial pivot Next is pursuing is deviating from the high margin SaaS enterprise contracts they disclosed in Q3 last year and is beginning to look low margin. Gross margin for Q1 FY26 compressed to 16.7%, unlike in Q3 when they saw a 45% gross margin. Q3 FY25 Q1 FY26 Context Services Revenue $1.79 Million $470k -73.7% drop in sales volume Gross Margin % 45.0% 16.7% -2,830 bps margin compression Cost of Revenue $983k $387k Implied higher overhead per sales dollar despite fewer sales Share Count Baseline ~2.8 Million 147.6 Million (FD) 51x dilution since stock split, at current fully diluted share count Dilution Restarts Last year’s reverse split consolidated ~551 million shares into around 2.8 million shares. Within six months, Next seems to be undoing almost all of the benefits of that split. Late last month (on March 27), NXTT closed a registered direct offering that raised ~$157 million in gross proceeds, issuing around 71.4 million shares of common stock at $1.10 per share and pre-funded warrants to purchase an additional ~71.4 million shares at $1.099 each, with just twenty institutional investors participating. After closing, shares outstanding now stand at ~76.3 million, and fully diluted including the pre-funded warrants, around 147.6 million. To put this in perspective, the reverse split left the company with ~2.8 million shares in mid-September last year. Six months later, fully diluted share count has now approached 147.6 million, which is around a 51x increase from the post-stock-split share count. While some permabulls (if there are any left for NXTT at all) may argue that the $157 million raise was a direct cash infusion therefore much cleaner than the warrant-for-Bitcoin structure that built NXTT’s original 5,000+ BTC position, and the $157 million gives enough drypowder to buy Bitcoin at dips and thus build the BTC per share value of NXTT, I’d still argue here that the pre-funded warrants that came with the direct offering locks in future dilution. And the fact that the offering was priced well below the BTC NAV per share at the time, means existing shareholders took a massive haircut. In Next’s filing announcing the raise, the company also did not hint at additional Bitcoin purchases with the funds raised. In the filing they disclosed that “The Company intends to use the net proceeds from the Offering for working capital purposes.” At the time of that offering late last month, Bitcoin was hovering around $72,500 spot price. Next’s 5,833 BTC stash at the time was worth around $422.9 million. Shares outstanding at the time was still around ~4.9 million shares (Next's Form 424B5 Prospectus Supplement filed before the offering shows this figure). This BTC NAV per share would be $422.9 million / 4.9 million shares, which is around $86. And at $86, the Bitcoin backing each NXTT share was nearly 80x higher than the $1.10 offering price, meaning the equity issuance was nowhere near accretive to the existing BTC NAV base. After that capital raise, against the updated 76.3 million shares outstanding, current BTC NAV per share is around $5 to $6. Against the fully diluted share count of 147.6 million shares, this brings BTC NAV to around $3 per share. NXTT currently trades around $1.5, at that price, it means the market now sees around 50% discount to its fully diluted BTC NAV. With the current setup where equity is being issued at discount to NAV, NXTT is in a dilutive loop and pivot to accretive BTC buys could prove harder than expected. To be accretive using NXTT stock issuance only, the company’s market cap must be higher than its BTC NAV. And given that Next’s AI/SaaS revenue fell off in the Q1 FY26 results released two weeks ago, I believe it is unlikely that the market will grant NXTT that premium price needed for that to happen in the near term. The positive shift in sentiment now hinges on Bitcoin reaching euphoric levels again and the environment last year where digital assets treasures were rated higher as investors scrambled for the next best Bitcoin proxy. A market environment like last year's could spark a premium to NAV for NXTT again; raises carried out at that level would finally be accretive. Or Next could pivot toward zero coupon convertible notes to fund their Bitcoin strategy like Strategy's ( MSTR ) does. Either way, I believe a sustained turnaround for Next’s AI/SaaS business is still needed for the type of credibility the market requires before assigning such a premium multiple to its Bitcoin treasury business. Takeaway In my view, this is the right time to revisit Bitcoin and other digital asset treasury businesses. As Bitcoin extends its pullback from October highs, the broader bear phase is beginning to ease. Bitcoin’s drawdown means stocks linked to the asset also sell off in tandem. Discounts to NAV are beginning to appear in digital asset treasury stocks, a shift from the premium environment that dominated most of last year. In NXTT’s case, the over 59% discount does not scream Buy, in my view, based on the current setup, and all the compliance pressure that surrounded the stock last year. NXTT is now trading around $1.5 and each dip pushes the stock closer to the $1 Nasdaq minimum bid threshold again. This creates the risk of future non-compliance with Nasdaq’s minimum listing requirements, and the possibility of another stock split cannot be ruled out here. The latest raise and subsequent dilution of NAV per share is also negative to investors. It increases total Bitcoin exposure but reduces per-share ownership, which is the core metric that matters in a treasury model. The pre-funded warrant structure effectively locks in further dilution, while the use of proceeds for working capital rather than additional Bitcoin reduces any near-term NAV support. Next has been an aggressive dilution machine. Shares jumped from ~6.97 million shares as of the end of FY24 to ~551 million sometime in FY25 before the reverse split. Since the reverse split shares have begun to build up again from ~2.8 million post-split to ~147.6 million fully diluted today. While I'm coming off my Strong Sell rating as the company has at least proved revenue and cleared the Nasdaq public shell company concern, the optics sorrounding that revenue declaration, the collapse in margin in Q1 FY26, and the other pressure points I have highlighted throughout this piece are some of the factors that I believe keeps NXTT at a Hold despite the discounts the stock currently has to its NAV.

18 May 2026, 11:50

South Korea’s LetinAR raises $18.5M to build the optics behind next-generation AI glasses

BitcoinWorld South Korea’s LetinAR raises $18.5M to build the optics behind next-generation AI glasses South Korean optical technology startup LetinAR has secured $18.5 million in new funding from investors including Korea Development Bank and Lotte Ventures, as the company positions itself as a key component supplier for the rapidly expanding AI smart glasses market. The LG Electronics-backed firm plans to use the capital to scale production ahead of a targeted 2027 IPO in South Korea. Why the optics matter for AI glasses LetinAR does not manufacture complete smart glasses. Instead, it produces the optical modules — the tiny lenses that project digital images into a user’s field of vision. This component is widely considered the most challenging part of designing wearable AI glasses that are both functional and comfortable enough for everyday use. The module must be thin, lightweight, and power-efficient while delivering a bright, clear image. Getting that balance right is a central engineering hurdle for the entire industry. Global shipments of AI-powered smart glasses surged to 8.7 million units in 2025, a more than 300% increase from the prior year, according to market research firm Omdia. Analysts project that figure will exceed 15 million units in 2026. Major technology companies including Meta, Google, Samsung, and Apple are all investing heavily in the category, creating growing demand for advanced optical components. How PinTILT works LetinAR’s core technology, called PinTILT, uses an array of precisely angled microscopic optical elements embedded inside a lens to direct light directly into the user’s eye. This approach differs from the dominant waveguide method, which spreads light across the entire lens surface but loses significant brightness before the light reaches the eye. Waveguide-based lenses tend to drain battery power faster because they require brighter light sources to compensate for the loss. Alternatively, mirror-based birdbath optics deliver light more efficiently but result in bulky lens assemblies that are difficult to fit inside normal-looking glasses frames. LetinAR claims its PinTILT technology avoids both trade-offs, producing a brighter image in a thinner form factor with lower power consumption — a critical advantage as manufacturers compete to extend battery life and reduce device weight. Real-world deployment: AR motorcycle helmets LetinAR’s modules are already shipping to customers. One of the most demanding applications is a partnership with Aegis Rider, a Swiss deeptech company spun out of ETH Zurich’s Computer Vision Lab. Aegis Rider is developing an AI-powered augmented reality helmet for motorcyclists that displays navigation arrows, speed, and safety alerts directly in the rider’s field of vision, with the information appearing to be anchored to the road ahead. The helmet, which incorporates LetinAR’s optical module, is targeting the European and Swiss markets for release in 2026. Other confirmed customers include Japan’s NTT QONOQ Devices and Dynabook, formerly known as Toshiba Client Solutions. LetinAR is also in discussions with several major technology companies regarding research and development for next-generation AI glasses, though it declined to name them. Market context and competition The smart glasses component supply chain is becoming increasingly competitive. LetinAR faces established peers including WaveOptics, DigiLens, and Lumus, all of which are developing their own optical solutions. The company’s existing manufacturing relationships and its backing from LG Electronics — which is reportedly developing its own AI smart glasses — provide it with both capital and industry credibility. CEO Jaehyeok Kim and CTO Jeonghun Ha, who have been friends since high school, founded LetinAR in 2016. The company has now raised a total of $41.7 million. Kim said the new funding will be used to scale production capacity as the AI glasses market transitions from early adopters to mass production. Conclusion LetinAR’s latest funding round reflects the growing strategic importance of optical components in the AI wearables race. As major consumer electronics companies race to bring AI glasses to market, the companies that solve the fundamental engineering challenges of display optics, power efficiency, and form factor will play a critical role in determining which products succeed. LetinAR’s focus on a single, technically demanding component positions it as a potential linchpin supplier for an industry that is still searching for its first mass-market hit. FAQs Q1: What exactly does LetinAR make? LetinAR produces optical modules — the tiny lenses and light-guiding components inside smart glasses that project digital images into the user’s field of vision. It does not manufacture complete glasses. Q2: How is PinTILT different from other smart glasses optics? PinTILT uses precisely angled microscopic elements to direct light directly into the eye, avoiding the brightness loss common in waveguide systems and the bulkiness of birdbath mirror designs. The company says this results in thinner lenses, brighter images, and lower power consumption. Q3: When will products using LetinAR’s technology be available? LetinAR’s modules are already shipping to customers. The Aegis Rider AR motorcycle helmet, which uses the technology, is targeting a European market launch in 2026. This post South Korea’s LetinAR raises $18.5M to build the optics behind next-generation AI glasses first appeared on BitcoinWorld .

18 May 2026, 09:15

Polymarket and Kalshi Defy India’s Crackdown, Continue Services Amid Legal Warning

BitcoinWorld Polymarket and Kalshi Defy India’s Crackdown, Continue Services Amid Legal Warning Decentralized prediction markets Polymarket and Kalshi are continuing to allow users in India to sign up and trade, despite a formal government warning that the platforms are illegal, according to a Bloomberg report. The development places both platforms in direct tension with India’s Ministry of Electronics and Information Technology, which recently notified VPN providers that such prediction market platforms are subject to blocking. India’s Stance on Prediction Markets The Indian government’s warning specifically targets platforms that facilitate betting on event outcomes, which authorities classify as illegal gambling under existing laws. The Ministry noted that some users are circumventing access restrictions using VPNs and warned that providers enabling such access could face legal liability. India’s stricter online gambling regulations took effect on May 1, tightening the legal landscape for both domestic and international platforms. How Polymarket and Kalshi Operate Both Polymarket and Kalshi allow users to trade contracts on the outcome of real-world events, from political elections to economic indicators. While these platforms argue they offer a form of market-based forecasting rather than gambling, Indian regulators view them as falling under the country’s gambling prohibitions. The platforms continue to accept Indian users and process transactions, raising questions about enforcement capabilities and jurisdictional reach. Implications for Users and the Industry The standoff highlights the growing challenge regulators face in policing blockchain-based platforms that operate across borders. For Indian users, the risk includes potential account freezes, legal notices, or difficulty accessing funds if authorities escalate enforcement. For the broader crypto and prediction market industry, India’s actions could set a precedent for other countries considering similar restrictions. Conclusion As India tightens its online gambling regulations, the continued operation of Polymarket and Kalshi within the country represents a direct challenge to government authority. The situation remains fluid, with potential for further legal action or platform restrictions. Users and industry observers should monitor developments closely as regulators weigh enforcement measures. FAQs Q1: Are Polymarket and Kalshi legal in India? India’s Ministry of Electronics and Information Technology has declared them illegal, but both platforms continue to operate and accept Indian users. The legal status remains contested. Q2: Can Indian users still access these platforms? Yes, as of now, Indian users can still sign up and trade on both Polymarket and Kalshi, though authorities have warned that VPN use to bypass restrictions could lead to legal liability. Q3: What are the risks for users in India? Potential risks include legal notices, account restrictions, or difficulty withdrawing funds if enforcement escalates. Users should stay informed about regulatory changes. This post Polymarket and Kalshi Defy India’s Crackdown, Continue Services Amid Legal Warning first appeared on BitcoinWorld .

18 May 2026, 06:40

Crypto Industry Must Embrace Privacy Tech to Sustain Growth, Helius CEO Says

BitcoinWorld Crypto Industry Must Embrace Privacy Tech to Sustain Growth, Helius CEO Says The cryptocurrency industry cannot achieve its next phase of expansion without fully integrating privacy technology, according to Mert Mumtaz, CEO of Solana infrastructure firm Helius. In a statement posted on X, Mumtaz argued that while retail investors have largely overlooked privacy features over the past year, institutional investors have identified it as their second most critical requirement. Privacy as a Growth Catalyst Privacy technology allows users to conceal transaction amounts and counterparty identities — a capability that an increasing number of blockchain projects are now building into their protocols. Mumtaz’s remarks highlight a growing divide between retail and institutional priorities in the crypto space. Retail traders have historically prioritized speed, low fees, and user experience, often treating privacy as a secondary concern. Institutions, however, face regulatory compliance requirements and risk management frameworks that make transaction confidentiality a necessity. Institutional Demand Driving Change The emphasis on privacy from institutional players signals a maturation of the crypto market. Large-scale investors, including hedge funds, asset managers, and corporate treasuries, require assurance that their trading strategies and portfolio allocations remain confidential. Without robust privacy features, these entities may remain hesitant to deploy significant capital into public blockchain networks. Mumtaz’s comments align with broader industry trends, where projects like Monero, Zcash, and newer zero-knowledge proof-based solutions are gaining traction among enterprise users. Implications for Blockchain Development For blockchain developers and infrastructure providers, the message is clear: privacy is no longer optional. As regulatory scrutiny intensifies globally — with frameworks like the EU’s Markets in Crypto-Assets (MiCA) regulation and the US Treasury’s evolving guidance — the ability to offer selective transparency while preserving confidentiality becomes a competitive advantage. Helius, which provides infrastructure tools for the Solana ecosystem, is positioned to support this shift by enabling developers to integrate privacy features without compromising network performance. Conclusion Mert Mumtaz’s call for the crypto industry to embrace privacy technology reflects a pragmatic recognition of market realities. As institutional capital flows increasingly dictate the direction of the sector, projects that fail to address privacy concerns risk being left behind. The next wave of crypto adoption may well depend on how effectively the industry balances transparency with the confidentiality that professional investors demand. FAQs Q1: Why is privacy technology important for institutional crypto investors? Institutional investors require transaction confidentiality to protect trading strategies, comply with regulatory frameworks, and manage counterparty risk. Public blockchains that expose all transaction details can deter large-scale capital deployment. Q2: What privacy technologies are being adopted in crypto? Common privacy solutions include zero-knowledge proofs (ZKPs), ring signatures, stealth addresses, and confidential transactions. Projects like Monero, Zcash, and various Ethereum layer-2 solutions are leading adoption. Q3: How does Helius support privacy on Solana? Helius provides infrastructure tools that help developers build privacy-preserving features into Solana-based applications, focusing on scalability and ease of integration without sacrificing network performance. This post Crypto Industry Must Embrace Privacy Tech to Sustain Growth, Helius CEO Says first appeared on BitcoinWorld .

18 May 2026, 00:08

Publicis Groupe expands AI ambitions with $2.2B LiveRamp buyout

Publicis Groupe has agreed to acquire the US-based data company LiveRamp in a $2.2 billion deal as the French advertising giant deepens its investment in artificial intelligence-driven marketing. The all-cash takeover price values LiveRamp at $38.50 per share, nearly 30% above the company’s closing price last Friday. The acquisition will enhance Publicis’ ability to offer clients sophisticated customer data tools and improve the performance of AI-powered advertising systems, Publicis says. Why is Publicis investing heavily in AI? Artificial intelligence is revolutionizing the advertising industry in a big way, completely overhauling the way businesses set up campaigns, analyze customer behavior, and target diverse audiences. A growing number of conventional marketing services are also under threat from the emergence of artificial intelligence tools capable of automating elements that used to be performed by the agencies. Publicis is one of the leading international ad marketing groups actively incorporating AI and data technology. The company’s chairman and chief executive, Arthur Sadoun , said the LiveRamp acquisition would enable clients to derive “exclusive and proprietary data” that can be used in constructing smarter AI agents on top of large language models. Combining LiveRamp’s tech with its own platforms will let businesses build more personalized AI systems using customer data from multiple sources, according to Publicis. Such a move could lead to greater marketing accuracy and customer retention across banking, healthcare, retail, and financial services, as well as other industries. Sadoun has claimed in the past that Publicis benefited from being an early investor in AI-driven tools. During the industry’s shift toward automation and AI-powered services, he said the company made strides while some rivals fell behind in an interview earlier this year. What does LiveRamp bring to the deal? LiveRamp specializes in helping companies bring together, network, and analyze massive amounts of customer data from multiple sources into a single solution . Its tech lets organizations analyze which consumer behaviors resonate most with them while maintaining privacy and compliance standards. LiveRamp’s systems are already being used by retailers, banks, healthcare providers, and advertisers to streamline customer information from multiple channels into unified customer profiles. Publicis believes these capabilities will be even more valuable as more businesses depend on AI tools that require high-quality, well-organized data. The firm provided one example of the technology being applied in the banking industry. Publicis said it could help a financial institution develop an AI-powered wealth management assistant that analyzes customer data from multiple sources and recommends appropriate financial products. The acquisition also adds to Publicis’ previous growth into data-driven marketing. In 2019, the company acquired data specialist Epsilon for $4.4 billion, a purchase that remains the largest in Publicis’ history. Epsilon and LiveRamp are synergistic partnerships that should enhance Publicis’ prowess in the burgeoning domain of AI-powered advertisement and customer data management. Publicis raises growth targets after acquisition While the deal values LiveRamp at more than $2.5 billion in equity terms, its enterprise value is $2.2 billion after accounting for roughly $379 million in net cash on its balance sheet. Publicis said the acquisition is financed through a combination of cash reserves and debt financing. The boards unanimously approved the transaction of both companies. Scott Howe will remain chief executive of LiveRamp after the acquisition closes and will report directly to Arthur Sadoun. Howe described the agreement as recognition of the company’s strategic value in an increasingly AI-focused market. Publicis also anticipates the acquisition will enhance its financial performance over the next few years. Excluding around €30 million in transaction-related costs, the deal should boost its headline earnings per share from the first year after consolidation, the company said. The company has now raised its earnings growth outlook. Publicis expects headline earnings per share to grow 8% in 2027 and 10% in 2028 at constant currencies, slightly above its earlier forecasts of 7% and 9%. The deal will require shareholder and regulatory approvals and is expected to close before the end of 2026. The deal is part of a broader trend in advertising, according to industry analysts, as companies seek to capture valuable customer data and develop AI capabilities. As competition intensifies, major marketing groups are increasingly shifting their approach toward technology-driven services based on data, automation, and artificial intelligence. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .