Chapter 1: What is the main topic discussed in this episode?
Here's your morning TNB Tech Minute for Monday, February 23rd. I'm Julie Chang for The Wall Street Journal. Gilead Sciences has agreed to buy the rest of development partner Arcelix in a deal that values the biotech company at about $7.8 billion at closing.
Gilead said it will pay an initial $115 a share in cash for the 88.5% of Arcelix it doesn't already own, a 79% premium to Friday's closing price. Biopharmaceutical company Gilead and Arcelix struck a deal in 2022 to co-develop and co-commercialize AnitoCell, an investigational CAR T-cell therapy for patients with the blood cancer multiple myeloma.
Gilead said the acquisition of Arcelix gives it full control of AnitoCell and said it expects to complete the acquisition during the second quarter. Renault said it would acquire Volvo Groups and CMA CGM's remaining stake in electric van Flexus for an undisclosed sum. The joint venture was established by the three companies in 2024.
Chapter 2: What are the details of Gilead Sciences' acquisition of Arcelix?
The French carmaker said it'll take full ownership of Flexus and carry the project through completion, overseeing the development of its new fully electric range of light commercial vehicles. The agreement still needs regulatory approval.
And NVIDIA chips for laptop computers are set to hit the market this year in products from Dell, Lenovo, and others. The move marks a return to the consumer PC market for the leader in AI chips. Analysts say NVIDIA wants to keep a connection with consumers in an era where every device will be AI-enabled.
For the PC chip, NVIDIA is collaborating with Intel and with Taiwanese chip designer MediaTek. And that's your TMB Tech Minute. We'll be back this afternoon with more.