DigitalBridge Surges on Softbank Talks, Tech Stocks Slip, Lululemon Edges Higher

- SoftBank Group Corp. agreed to acquire DigitalBridge Group Inc. (DBRG) in a deal valuing the data center investor at $4 billion including debt. That caused shares of DigitalBridge to soar. The Japanese conglomerate will pay $16 per share in cash for New York-listed DigitalBridge as part of its push to invest in digital infrastructure. The transaction is expected to close in the second half of 2026, pending regulatory approvals, and will bring to SoftBank relationships with more investors keen to deploy money in the data center industry.

-Nvidia (NVDA) shares were down 1.6% at $187.45 in early trading due to broader jitters about the technology sector and its agreement to license technology from Groq. The deal valued Groq at around $20 billion and will involve Nvidia hiring many of Groq's key employees, according to reports. Tesla (TSLA) also drops. 

- Lululemon (LULU) founder and major shareholder Chip Wilson has nominated three new board directors to oversee the appointment of a new chief executive at the struggling activewear maker, which has also been targeted by activist investor Elliott Management.

See omnystudio.com/listener for privacy information.