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OpenAI Tops SpaceX as World’s Most Valuable Private Company With $500 Billion Valuation

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In brief

  • OpenAI’s $6.6 billion employee share sale valued the firm at $500 billion.
  • The Sale makes OpenAI the world’s most valuable private company, topping SpaceX.
  • Secondary deal aids staff retention amid Meta’s nine-figure pay offers.

OpenAI has overtaken SpaceX to become the world’s most valuable private company after a $6.6 billion employee share sale at a $500 billion valuation—the milestone underscoring the investor frenzy fueling the artificial-intelligence boom.

According to a Bloomberg report, the secondary sale lets current and former staff who had held shares for at least two years sell stock to a handful of companies, including Thrive Capital, SoftBank Group, Dragoneer Investment Group, Abu Dhabi’s MGX, and T. Rowe Price.

The deal marks OpenAI’s second major tender offer in under a year, following a $1.5 billion SoftBank transaction last November. In January, the Japanese conglomerate was reportedly in talks to earmark up to $25 billion for OpenAI.



SoftBank’s U.S.-traded shares (SFTBY) rose 1.7% to $66.04 on Thursday after news of the OpenAI share sale, reflecting investor enthusiasm for its AI-linked deals.

The $500 billion figure reflects a steep rise for OpenAI from earlier in the year, when the ChatGPT developer was valued at $300 billion following a $40 billion funding round led by Softbank in March. With this latest move, the company now sits ahead of SpaceX—whose own valuation is estimated near $400 billion—putting OpenAI at the top of the private company universe.

Despite scrutiny around the rollout of GPT-5, investor confidence remains undimmed. In September, OpenAI and Nvidia unveiled a strategic infrastructure partnership: OpenAI plans to deploy at least 10 gigawatts of Nvidia systems, and Nvidia will invest up to $100 billion progressively as each gigawatt is deployed. Jensen Huang described it as part of “bringing AI infrastructure from the labs into the world.”

It also coincides with the ongoing Stargate partnership between OpenAI, Softbank, and Oracle to build out America’s AI infrastructure backed by the Trump Administration.

The sale also gives employees liquidity that could help the company fend off nine-figure pay packages from rivals such as Meta, which is aggressively hiring for its new Superintelligence Labs.

The timing also coincides with structural moves at OpenAI. The company lifted its capped-profit limit in May, all the while facing continued legal pressure from Elon Musk. An OpenAI co-founder, Musk has sued the company on multiple occasions. Musk has accused OpenAI of abandoning its original nonprofit mission and allegedly attempting to steal xAI data and trade secrets.

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EA private acquisition deal expected to go smoothly, says report, as "what regulator is going to say no to the president's son-in-law?"
Game Reviews

EA private acquisition deal expected to go smoothly, says report, as “what regulator is going to say no to the president’s son-in-law?”

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The $55bn private acquisition of EA is expected to run smoothly, the Financial Times has reported, due to the influence of Jared Kushner and Saudi Arabia on The White House.

The acquisition announced yesterday will see a group of investors comprising Saudi Arabia’s Public Investment Fund, and investment firms Silver Lake and Affinity Partners, acquiring EA, the publisher known for its sports games, BioWare’s RPGs, The Sims, and many more.

Though the acquisition won’t be completed until Q1 FY27, a report from The FT suggests it won’t face much opposition.

That’s due to Saudi Arabia being considered a key ally to the US, as well as the involvement of President Trump’s son-in-law Kushner, CEO of Affinity Partners.

“Kushner has a personal relationship and he has deep ties in Saudi Arabia. He is very comfortable operating in the Middle East. It created a basis of trust,” a person briefed on the talks told the FT.

Another source stated: “We are in a regulatory environment that is welcoming of [Saudi Arabia]. We are not in what was the previous regime.”

“What regulator is going to say no to the president’s son-in-law?” stated another source close to the inner workings of the Trump administration.

The involvment of Saudi Arabia’s PIF is controversial, due to the country’s ruler Prince Mohammed bin Salman chairing the fund. He’s been blamed by the CIA for the assassination of Washington Post journalist Jamal Khashoggi, and has upheld the country’s notoriously poor human rights record.

While the last big video game acquisition – Microsoft’s acquisition of Activision Blizzard – was met with opposition, it seems this latest deal for EA will be less contested.

Eurogamer has contacted the US Federal Trade Commission for comment on EA’s private acquisition.

In a further report from the FT, it’s suggested the deal is a huge bet that AI can significantly cut EA’s operating costs.

The $55bn buyout is backed by $36bn in equity and $20bn in JPMorgan debt, which EA will need to cover. AI will therefore be a key factor in cutting costs, according to sources involved in the transaction.

Last year, EA CEO Andrew Wilson stated AI is “the very core of our business” at the company’s Investor Day 2024. “For years we have talked about our games delivering experiences that are always new and different,” he said. “We predict that with generative AI we will truly be able to fulfil this promise for billions of people for billions and billions of hours.”

One area of AI innovation for the company is efficiency, which Wilson described as not just about cost saving but “doing what we do today faster, cheaper, and at a higher quality”.

With the growing reputation of AI tools being used across the games industry, no doubt this presentation proved influential in the eventual acquisition by private investors.

In a statement to employees yesterday, Wilson stated EA’s “values and our commitment to players and fans around the world remain unchanged”. However, the deal has sparked fear among fans for the future of EA’s most queer-friendly franchises, including The Sims, Mass Effect, and Apex Legends, due to the involvement of Saudi Arabia.



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Andrew Wilson talks on a podcast.
Game Reviews

EA Boss Thanks Employees For Making $55 Billion Private Equity Sale Possible

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The $55 billion sale of Electronic Arts to Saudi Arabia’s Public Investment Fund and a group of other private equity investors is a big deal. Some people are going to make a lot of money off it. Others may lose their jobs when the interest bill for the debt-financed portion of the leveraged buyout comes due. CEO Andrew Wilson, who will remain in charge of the Madden and Battlefield publisher even after the sale closes, is thanking his employees.

“This moment is a recognition of your creativity, your innovation, and your passion. You have built some of the world’s most iconic IP, created stories that have inspired global communities, and helped shape culture through interactive experiences,” he wrote in a companywide email to staff after the deal was announced on Monday, a copy of which was obtained by Kotaku. “Everything we have achieved–and everything that lies ahead–is because of you.”

EA stockholders, which would include Wilson, will receive $210 per share. The executive was granted $31 million in cash and stock awards for the company’s last fiscal year, up $5 million from the year prior, even as the company laid off rank-and-file employees and hit sales snags in EA Sports FC, Apex Legends, and Dragon Age: The Veilguard. The 25 percent premium on the company’s mid-August share price comes with a catch, however. A whopping $20 billion of the buyout comes from debt, the interest on which could exceed hundreds of millions of dollars annually, or the budget of multiple AAA blockbusters per year.

“We are entering a new era of opportunity,” Wilson wrote in his email to staff today. “This is one of the largest and most significant investments ever made in the entertainment industry. Our new partners bring deep experience across sports, gaming, and entertainment. They are committed with conviction to EA–they believe in our people, our leadership, and the long-term vision we are now building together.”

He continued,

Our mission at EA to—Inspire The World To Play—continues to guide everything we do. Our values and our commitment to players and fans around the world remain unchanged. With continued rigor and operational excellence, we can amplify the creativity of our teams, accelerate innovation, and pursue transformative opportunities that position EA to lead the future of entertainment. Together, we’ll create experiences that are bold, expressive, and deeply connected to inspire generations of players around the world.

I am excited to continue as CEO, working alongside our leadership team to advance our strategy. United by our vision, we will deliver experiences that transcend platforms and empower players everywhere to create worlds, characters, and stories that are bold, interactive, and deeply connected.

Thank you for your creativity, your commitment, and the passion you bring to EA every day. This is a historic moment, and with the support of our new partners, the future we are building together is brighter than ever.

EA instituted a return-to-office policy earlier this year which would require anyone living within 30 miles of an EA office to come in at least three days a week, while others not designated as remote would need to relocate. At the time, Wilson said the goal was to ignite the “kinetic energy that fuels creativity,” but some employees saw it as a way to incentivize more “voluntary” layoffs.

Alongside the likelihood of layoffs are questions about Saudi Arabia’s human rights record and the new ownership’s potential impact on creative freedom within the company and public messaging, including its annual Pride events across its various franchises, most notably The Sims. Wilson told staff EA’s “values” will remain unchanged, but didn’t lay out specifically what they are. The sale is set to close in mid-2026 pending shareholder and regulatory reviews.



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Electronic Arts Is Being Acquired For $55 Billion And Will Go Private
Game Updates

Electronic Arts Is Being Acquired For $55 Billion And Will Go Private

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Electronic Arts is being acquired for $55 billion by an investor consortium consisting of the Public Investment Fund of Saudi Arabia (PIF), Silver Lake, and Affinity Partners. The all-cash transaction sees this collective absorb 100 percent of the publisher, effectively taking the company private.

The transaction is the largest all-cash sponsor take-private investment in history, said to “accelerate innovation and growth to build the future of entertainment,” according to a press release. The deal was approved by the EA’s board of directors and is expected to close during Q1 of the 2027 fiscal year, pending customary regulatory approvals. 

Once the acquisition is complete, EA will stay headquartered in Redwood City, California, and Andrew Wilson will remain CEO. Stockholders will receive $210 per share in cash, representing a 25 percent premium to the unaffected share price ($168.32 at market close on September 25, 2025). Following the acquisition, EA’s common stock will no longer be listed on any public market. 

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson in a press release. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”

Battlefield 6

The acquisition group, dubbed “The Consortium,” consists of three companies. First is the PIF, the sovereign wealth fund of Saudi Arabia. The PIF has expanded its reach into the video game industry through its Savvy Games Group, an entity founded in 2021. In the last four years, the PIF has purchased stakes in gaming companies such as Nintendo, Activision Blizzard, Take-Two Interactive, Capcom, Embracer Group, and Nexon. The Savvy Games Group also owns American mobile gaming company Scopley, and earlier this year, announced plans to acquire the game division of Pokémon Go developer Niantic. The PIF had an existing stake in EA before its full acquisition of the company.

The second company is Silver Lake, a multi-billion-dollar global technology investment firm based in North America, Europe, and Asia. Lastly, Affinity Partners is a Miami-based investment firm founded in 2021 by Jared Kushner, the son-in-law of President Donald Trump, who once served as White House senior advisor during Trump’s first term.

The Consortium states it will “bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities.”

Madden NFL 26

The acquisition comes as EA gears up for the October 10 launch of Battlefield 6, which is shaping up to be its biggest release of the year. EA’s portfolio of upcoming titles also includes Plants vs. Zombies: Replanted, next year’s Star Wars Zero Company, and more distant projects such as the next Mass Effect, a third Star Wars Jedi title, and Motive Studios’ Iron Man.

It also comes after two years of massive layoffs across EA. In February 2024, EA laid off over 600 employees.  Titanfall developer Respawn Entertainment suffered cuts this past April, which resulted in two project cancellations. In May, EA closed Cliffhanger Games, canceling the studio’s in-development Black Panther game. 



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Art shows different EA game franchises.
Game Reviews

EA Announces Unprecedented $55 Billion Sale To Saudi Arabia, Jared Kushner’s Private Equity Group, And Others

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Another one of the biggest game publishers in the world is being sold. On Monday, Electronic Arts announced a $55 billion deal to take the publisher behind massive franchises like Madden, The Sims, and Apex Legends private, selling to Saudi Arabia’s Public Investment Fund, Silver Lake, and President Donald Trump nephew Jared Kushner’s Affinity Partners. 

The all-cash deal values the company at a 25 percent premium over its mid-august stock price and is set to be finalized by mid-2026 pending shareholder and regulatory approvals. Current CEO Andrew Wilson will remain the head of the publisher which will stay headquartered in California. Roughly $20 billion of the sale is debt-financed through JPMorgan Chase Bank.

The sale builds on Saudi Arabia’s existing 10 percent ownership of the company which was built up in recent years amid investments across the larger gaming industry. Those included the $4.9 billion purchase of Monopoly Go! mobile game maker Scopely in 2023 and the gobbling up of Pokémon Go and Niantic’s other gaming businesses earlier this year for $3.5 billion. The current $55 billion buyout of EA is not just the government-backed Public Investment Fund’s largest gaming acquisition to date, it’s also the largest sale ever to take an existing public company private.

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” Wilson said in a press release. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”

Founded back in 1982, EA’s gaming empire is vast with studios across the globe and franchises ranging from blockbusters like Battlefield and EA Sports FC (formally known as FIFA) to Mass Effect maker BioWare and smaller label signings this year’s critically-acclaimed GOTY-contender Split Fiction. It’s not yet clear how the deal will effect the size and scope of the roughly 15,000 person publisher, though this much money rarely changes hands without lots of people losing their jobs.

“EA has been challenged to innovate in the last decade,” Wedbush Securities analyst Michael Pachter told Kotaku in an email over the weekend after news of the deal first leaked. “Several franchises have faded (Mass Effect, Dragon Age, Burnout, NFS), some failed (Anthem) and only a handful continue to produce. They suck at mobile and appear too focused on pleasing investors and not focused enough on pleasing gamers. I think the Saudis have the potential to jump start mobile and to try innovative moves like making Ultimate Team free. We’ll see if it works

Saudi Arabia’s funding partners include the private equity firms Silver Lake and Affinity Partners, the latter of which was founded by Kushner after Trump left office in 2021. Roughly half of its reported funding, approximately $2 billion, is also from Saudi Arabia. “Electronic Arts ​is ​an ​extraordinary ​company with a ​world-class ​management ​team and a bold vision ​for ​the ​future,” he said in a statement. “​I’ve admired their ​ability to create iconic, lasting experiences, ​and ​as ​someone ​who ​grew up playing their ​games ​- and now enjoys them with his ​kids–I couldn’t be ​more ​excited about ​what’s ​ahead.”

The deal arrives amid fresh criticism of people selling out to the Saudi Royal family despite its record of human rights abuses. Organizations backed by PIF held the Esports World Cup in Riyadh this summer and hosted talks with high-profile industry figures like Hideo Kojima and Ubisoft CEO Yves Guillemot, whose company is currently producing an Assassin’s Creed DLC set in Saudi Arabia. Outside the world of gaming, famous comedians like Bill Burr and Dave Chappelle were recently criticized for attending the Riyadh Comedy Festival.

“From the folks that brought you 9/11,” quipped WTF podcast host Marc Maron last week. “Two weeks of laughter in the desert, don’t miss it! The same guy that’s gonna pay them is the same guy that paid that guy to bone-saw Jamal Khashoggi and put him in a f***ing suitcase. But don’t let that stop the yucks, it’s gonna be a good time!”

The full press release is below:

Under the terms of the agreement, the Consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the Company. EA stockholders will receive $210 per share in cash. The per share purchase price represents a 25% premium to EA’s unaffected share price of $168.32 at market close on September 25, 2025, the last fully unaffected trading day, and a premium to EA’s unaffected all-time high of $179.01 at market close on August 14, 2025.

PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities. The transaction represents the largest all-cash sponsor take-private investment in history, with the Consortium partnering closely with EA to enable the Company to move faster and unlock new opportunities on a global stage.

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson, Chairman & CEO of Electronic Arts. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”

“PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators,” said Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF. “PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA’s long-term growth, while fueling innovation within the industry on a global scale.”

“This investment embodies Silver Lake’s mission to partner with exceptional management teams at the highest quality companies. EA is a special company: a global leader in interactive entertainment, anchored by its premier sports franchise, with accelerating revenue growth and strong and scaling free cash flow. We are honored to invest and partner with Andrew – an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure,” said Egon Durban, Co-CEO and Managing Partner of Silver Lake. “The future for EA is bright, we are going to invest heavily to grow the business and we are excited to support Andrew and the EA team as the company accelerates innovation, expands its reach worldwide, and continues to deliver incredible experiences to players and fans across generations.”

“Electronic Arts ​is ​an ​extraordinary ​company with a ​world-class ​management ​team and a bold vision ​for ​the ​future. ​I’ve admired their ​ability to create iconic, lasting experiences, ​and ​as ​someone ​who ​grew up playing their ​games ​- and now enjoys them with his ​kids – I couldn’t be ​more ​excited about ​what’s ​ahead,” said Jared Kushner, Chief Executive Officer of Affinity Partners.

“The Board carefully evaluated this opportunity and concluded it delivers compelling value for stockholders and is in the best interests of all stakeholders,” said Luis A. Ubiñas, Lead Independent Director of EA’s Board of Directors. “We are pleased that this transaction delivers immediate and certain cash value to our stockholders while strengthening EA’s ability to continue building the communities and experiences that define the future of entertainment.”

Transaction Details

The transaction was approved by EA’s Board of Directors, is expected to close in Q1 FY27 and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders. Following the close of the transaction, EA’s common stock will no longer be listed on any public market.

The transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF’s existing stake in EA, constituting an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.

Upon completion of the transaction, EA will remain headquartered in Redwood City, California and continue to be led by Andrew Wilson as CEO.

Update: 9/29/2025 8:58 a.m. ET: Added more information about EA, details of the deal, and a quote from an analyst. 





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EA Nearing $50 Billion Deal With Saudi Arabia And Other Investors To Go Private - Report
Game Updates

EA Nearing $50 Billion Deal With Saudi Arabia And Other Investors To Go Private – Report

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EA could reportedly go private with a $50 billion deal to be revealed as early as next week between a group of investors, which includes Saudi Arabia’s Public Investment Fund (PIF), according to The Wall Street Journal.

Alongside PIF, according to people the WSJ said are familiar with the matter, private-equity firm Silver Lake is also reportedly involved with the deal. While EA has a market value of approximately $43 billion, two people told the WSJ that the behind-closed-doors discussions have valued the sports-sim maker closer to $50 billion.

According to the WSJ, if the deal comes together and goes through, this will be the “largest leveraged buyout of all time.” The last mega-buyout was in 2007, when Texas-based utility company TXU was purchased by a group of private-equity firms for about $32 billion.

Sadia Arabia has made a few investments in the games industry over the last few years. The country’s mobile developer Scopely–which the Saudi government owns through PIF–scooped up Pokemon Go developer Niantic’s gaming division for $3.5 billion in March 2025. The country also has stakes in both in Activision Blizzard, Take-Two, Embracer, and Nintendo, and currently holds a 2.6% stake in EA.

EA doesn’t need much of an introduction, but the company is best known for its widely successful sports-sim franchises like FIFA, Madden, and NBA. The latest release by the publisher has been Skate, the newly revamped, free-to-play skateboarding sim that will get its first official season on October 7.

The country’s Public Investment Fund has also attracted significant controversy as its chairman is Crown Prince Mohammed bin Salman. One of the most powerful people in Saudi Arabia and the de facto ruler of the country, he’s now widely considered to be responsible for the assassination of journalist Jamal Khashoggi in 2018. The country has been accused of a wide range of human rights violations, as well.

Saudi Arabia has been significantly involved in sports over the last several years, including forming the LIV golf organization, which caused major controversy after several PGA golfers jumped ship. The two organizations laterannounced plans to merge, but this has not happened.



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Electronic Arts
Product Reviews

EA is reportedly about to be sold in a record-setting $50 billion buyout to an investor group that includes private equity and Saudi Arabia

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As reported by the The Wall Street Journal, gaming giant EA is set to go private⁠—that is, no longer be traded on the stock market⁠—in a $50 billion deal with an investor group. This would be the largest such leveraged buyout ever recorded.

According to the WSJ’s anonymous sources, EA could be sold for as much as $50 billion, though the final price has not yet been agreed on, and EA has an estimated market value of $43 billion. The group of investors reportedly includes the private equity firm Silver Lake and the government of Saudi Arabia’s Public Investment Fund.

The deal could be announced as early as next week, and would be the largest leveraged buyout ever recorded. A leveraged buyout is when a private equity firm uses a significant amount of borrowed money to seal the deal, with the asset set to be acquired used as collateral in the debt.


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This effectively leaves the acquired company liable for the debt⁠—if its income can’t adequately service the debt, it will bear the consequences of a default, not the investors who made the purchase, and that usually means closures and layoffs. As reported by the Los Angeles Times, one such leveraged buyout eventually resulted in bankruptcy and closure for the once-ubiquitous toy retailer, Toys R Us.

The fact that the reported cost of the deal—up to $50 billion—is close to EA’s estimated value (what’s $7 billion between friends?) could give reason for optimism that EA’s debt burden would be proportional to its means. Even aside from eventual bankruptcy, though, there’s precedent for acquisitions like this causing massive disruptions to the company: Microsoft cut 1,900 jobs at Xbox in January 2024 shortly after its acquisition of Activision-Blizzard, and Blizzard Entertainment was heavily affected in particular.

The other known quantity in the purported deal, the Saudi Arabian Public Investment Fund, has been making inroads in games for several years as part of a multifaceted push into global media and entertainment. This has included:

Critics of the Saudi Arabian government have called this practice “sportswashing,” or using a growing influence and ubiquity in the entertainment industries to distract from the government’s human rights record.

EA, much like its competitor Ubisoft, has struggled in recent years. Once formidable titans, both have been left behind as consolidation efforts have turned Microsoft and Sony into unassailable super heavyweights. At the same time, smaller publishers like DreadXP, Devolver, and Playstack have become ubiquitous at the other end of the budget spectrum.

EA lost the lucrative FIFA license, leading to its new, genericized EA FC series. Beloved RPG developer BioWare was sharply downsized after Dragon Age: The Veilguard proved a relative sales failure. The impending release of Battlefield 6, which has seen massive beta numbers and a positive critical reception, is looking like a much-needed win for the company.

Should the deal go through, here are some of the major studios and games that could be affected:

  • BioWare: Mass Effect and Dragon Age.
  • Respawn: Titanfall, Apex Legends, the Star Wars: Jedi series.
  • DICE (and the other ‘Battlefield Studios’): Battlefield and Mirror’s Edge
  • Maxis: The Sims 4 and Project Rene.
  • The Madden NFL and EA Sports College Football series (and other EA Sports games).
  • The dormant Dead Space and Need for Speed series.
  • The once-dormant Skate, recently resurrected.
  • The Command & Conquer series.
  • The Origin Systems back catalogue, including Ultima and Wing Commander. Pepperidge Farm remembers.



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Esports

EA nears potential $50B deal to go private in record leveraged buyout

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Electronic Arts, the company behind FIFA, Madden, and The Sims, is close to being taken private in a deal worth up to $50 billion, according to The Wall Street Journal.

The buyout would involve Silver Lake, Saudi Arabia’s Public Investment Fund, and Jared Kushner’s firm Affinity Partners. A deal could be announced as soon as next week. EA’s stock jumped 14% Friday following the report.

If finalized, it would mark the largest leveraged buyout ever, surpassing the $32 billion purchase of Texas utility TXU in 2007.

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EA is reportedly close to a $50 billion deal to go private

The group of investors include Silver Lake and Saudi Arabia’s Public Investment Fund

(via: Wall Street Journal) pic.twitter.com/LrBq0oNpaS

— Dexerto (@Dexerto) September 26, 2025

EA nears sale for $50 billion

EA has been a major force in gaming since the 1980s, with global hits like EA Sports FC, Madden NFL, and The Sims. Its sports franchises continue to drive sales, while fans are waiting for the release of Battlefield 6.

Not only are fans waiting for the popular FPS to release after a successful test weekend, but this news comes just as EA Sports FC 26 launches for PlayStation, Xbox, PC, and more.

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TACEO and Aztec to bring Private Shared State to Ethereum
NFT Gaming

TACEO and Aztec to bring Private Shared State to Ethereum

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TACEO and Aztec Foundation are teaming up to create a Private Shared State, an encrypted environment that supports updates, multi-computation and auditing under one private decentralized roof.

Summary

  • TACEO and Aztec Foundation are partnering to bring Private Shared State into Ethereum.
  • PSS differs from existing MPC solutions by allowing shared, persistent private states on-chain, with a focus on developer usability through TACEO’s coNoir toolkit.
  • TACEO claims its system is built with post-quantum security in mind, using information-theoretically secure protocols and exploring hash-based proof systems.

TACEO, the company behind Worldcoin’s encrypted iris-scanning network and the largest known multiparty computation database, has partnered with the Aztec Foundation, nonprofit organization that supports the Aztec Network, to create a Private Shared State on Ethereum.

The partnership claims it would allow multiple parties to verify blockchain transactions and contracts, without exposing the underlying information or relying on a centralized entity to verify them. It combines TACEO’s collaborative computation abilities with Aztec’s privacy-first Layer 2 on Ethereum (ETH).

TACEO CEO Lukas Helminger, tells crypto.news that the PSS serves to extend the capabilities of multiparty computation or MPC to new areas that it was previously limited to. The system will enable multiple users to collaborate on encrypted data sets over which computation is done.

“In brief, PSS lets multiple parties jointly maintain and compute over a single, shared piece of private state, and then commit that state on-chain with a proof that’s publicly verifiable,” said Helminger.

Through the collaboration, Aztec developers will be able to use enhanced tooling that supports complex and collaborative computing. Developers will be able to perform general-purpose computation on encrypted data from different sources, yielding functionality and privacy beyond what web2 is capable of.

The PSS is poised to facilitate a range of different use cases, including trustless financial markets, collaborative AI model training, cheat-proof on-chain gaming and data sovereignty frameworks.

TACEO CEO: ‘Our approach is different’

TACEO CEO Lukas Helminger explains how the Private Shared State differs from run-of-the-mill multiparty computation solutions as it allows for arbitrary computation on encrypted data, as well as the possibility to generate a proof of correctness of that computation.

According to Helminger, this approach creates a “persistent state that no single entity can access, but can be updated over time,” enabling multiple parties to jointly maintain and compute over the same private state. This sets PSS apart from ZKMPC, which he said focuses on one-off secure computations without providing an on-chain state model that contracts can reference.

The company also distinguishes its work from NuCypher’s threshold cryptography framework.

Whereas NuCypher focuses more on traditional use cases for MPC or threshold cryptography to allow signing, decryption delegation and threshold access, PSS goes beyond that by providing shared, updatable private state with on-chain proofs.

Another main difference that sets PSS apart from other solutions is its emphasis on usability for developers.

“Our approach is different: we’re shaping MPC, coSNARKs and PSS into tools that any developer can pick up to build apps, with confidentiality,” Helminger said.

Through its coNoir toolkit, the company hopes to make integration seamless for those already using Noir, Aztec’s zero-knowledge programming language.

“Traditional MPC libraries often came out of academia, which meant they were powerful but not practical. With coNoir, we aim to make it trivial for developers already using coNoir to extend their applications into an MPC and PSS environment,” stated Helminger.

In terms of safety and security, Helminger claims that the protocols that the network is built upon have gone through years of peer-reviewed research and that it is currently undergoing a security assessment, with regular external audits planned once the system stabilizes.

“By the very nature of MPC, no single node learns the plaintext, and confidentiality holds as long as the threshold of colluding nodes is not exceeded,” he said.

How does the Private Shared State fare against quantum computing?

Many experts view quantum computing as a potential threat to cryptocurrency as it evolves at a rapid pace. In fact, many have predicted that with enough power it could one day break Bitcoin’s encryption and gain access to wallets, an event often referred to as “Q Day.”

Most recently, Solana co-founder Anatoly Yakovenko said that there is currently a 50-50 possibility that in five years time, quantum computers will be strong enough to crack the cryptographic safeguards protecting Bitcoin wallets.

When asked how TACEO and Aztec’s PSS will fare against the threat of quantum computing, TACEO CEO Lukas Helminger said that some parts of the stack, such as secret sharing within MPC environments are “already information-theoretically secure and naturally post-quantum.”

“Where quantum risk does come in, such as, in certain proof systems, we’re actively exploring post-quantum secure approaches, including hash-based ZK,” said Helminger.

He explained that the research team working on the project has had prior experience working on post-quantum standards, therefore they are gearing up the system with a clear migration path in mind as the technology continues to evolve.

“We take a crypto-agile approach: the system is designed so we can migrate components to post-quantum alternatives as they mature. For example, where today’s SNARKs rely on elliptic-curve assumptions, we’re already experimenting with hash-based proof systems,” he said.



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Gaming Gear

Huge theft reportedly sees 2TB of private data stolen – police files hit in major breach

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  • Maida.health allegedly leaks 2.3TB of Brazilian military police medical and personal data
  • Cybercriminals advertised stolen records including diagnostics, ID cards, and healthcare contracts online
  • Healthcare remains a top target due to sensitive data and risk of identity theft or fraud

Maida.health, a Brazilian health technology company, allegedly suffered a data breach in which it lost more than 2TB of data concerning the country’s military police.

A threat actor recently posted a new thread on an underground forum advertising 2.3 terabytes of data sourced from maida.health, including the health records of Brazilian military police, identification cards and other details, as well as medical reports.

“This data includes all medical services and management of healthcare contracts in the Brazilian health system, particularly the Brazilian military police,” the post reads. “It specifically covers diagnostic and treatment services such as cardiology, neurology, gynecology, and more, including patient details, identification cards, and medical records for both personnel and their families.”


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Identity theft and medical fraud

So far, there has been no confirmation on the authenticity of the claims. The attacker posted a sample that is yet to be analyzed by security researchers, which allegedly includes invoices for medical care, administrative protocols, regulatory certificates, and clinical patient data.

In its writeup, Cybernews explained how the data might be abused: “When this kind of data is leaked, it could often lead to identity theft or medical fraud. For example, criminals may try to impersonate the victim to receive medical care or try to get prescription drugs in the victim’s name,” the researchers said.

This is not the first time the citizens of Brazil had their sensitive data leaked. In fact, at one point in early 2024, the entire Brazilian population was potentially put at risk, when researchers found an unprotected database that held personal information on approximately 223 million Brazilians.

Given that by 2021 data, Brazil has 214 million people, it could be that information on the entire population of Brazil was contained in that database.

Due to the sensitivity of the information generated, the healthcare industry is widely considered as among the most targeted ones.

Via Cybernews

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