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In today's ExchangeWire news digest: Google plans to integrate generative AI into its ad campaigns; China's Changxin Memory contemplates and domestic IPO; and investors begin to show interest in grocery start-up Instacart.
Google is planning to implement generative AI into its advertising business. During an internal presentation to advertisers titled “AI-powered ads 2023”, the Alphabet-owned company revealed its plans for AI systems to create fresh advertisements based on content created by human marketers.
Changxin Memory Technologies is contemplating a domestic IPO that could value the firm at over USD$14.5bn (~£11.6bn). Changxin is reportedly considering listing on Shanghai’s STAR board later this year, with the chip maker currently in the process of appointing underwriters.
Investors are lining up for a piece of grocery-delivery firm Instacart ahead of its anticipated IPO. The start-up filed to go public back in May 2021, with market volatility resulting in numerous delays. Despite a USD$14bn (~£11.2bn) drop in value between May and December 2022, the company is attracting the attention of numerous investors on the lookout for a bargain.
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USD$10bn (~£8bn) - Instacart's worth according to an internal valuation in December 2022.
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