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SailPoint Targets $11.5 Billion Valuation in U.S. IPO

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SailPoint, a cybersecurity firm backed by private equity firm Thoma Bravo, is targeting a valuation of up to $11.5 billion in its upcoming initial public offering (IPO) in the United States. The firm, based in Austin, Texas, is offering 47.5 million shares at a price range of $19 to $21 per share, with an additional 2.5 million shares from its parent, Thoma Bravo, raising a total of up to $1.05 billion. The IPO, expected to be the first major U.S. tech listing of 2025, will gauge investor sentiment following mixed results from previous high-profile IPOs.

SailPoint specializes in identity and access management software, which helps businesses mitigate unwanted user access and protect sensitive data from cyberattacks. The growing demand for cybersecurity, fueled in part by the increasing use of artificial intelligence by malicious actors, has bolstered the firm’s offerings. Its competitors include major tech giants like IBM, Microsoft, Oracle, CyberArk, and Okta. The firm counts clients like truckmaker PACCAR, student loan servicer Nelnet, and British supermarket chain ASDA among its customers.

Thoma Bravo, which manages about $166 billion in assets, first acquired SailPoint in 2014 and took it public in 2017. After selling its stake in 2018, Thoma Bravo reacquired SailPoint in 2022 for $6.9 billion. Since going private, the company has completed its transition to a software-as-a-service (SaaS) model. The IPO will mark SailPoint’s return to the stock market.

Notable investors such as AllianceBernstein and Dragoneer Investment Group have expressed interest in buying up to 20% of the shares sold in the offering. Morgan Stanley and Goldman Sachs are the lead underwriters for the IPO, which will be listed under the symbol “SAIL” on the Nasdaq. Following the offering, Thoma Bravo will retain an 88.5% stake in SailPoint. The company plans to use the proceeds to repay debt and settle outstanding equity awards.

 

Taiwan Bans Government Use of DeepSeek AI Over Security Concerns

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Taiwan’s Ministry of Digital Affairs announced on Friday that government departments are prohibited from using DeepSeek, a Chinese artificial intelligence (AI) service, citing national security risks. The ministry warned that DeepSeek’s operations involve cross-border data transmission, raising concerns about potential information leaks.

Given Beijing’s sovereignty claims over Taiwan and ongoing political and military tensions, Taiwanese authorities remain cautious about Chinese technology. The digital ministry emphasized that it will continue monitoring technological developments and adjust cybersecurity policies as necessary to safeguard national security.

This development follows similar concerns raised internationally. South Korea’s information privacy watchdog has stated plans to question DeepSeek regarding its data handling practices. Meanwhile, regulatory authorities in France, Italy, and Ireland are also examining the company’s use of personal information.

DeepSeek’s rapid rise has sparked global scrutiny. By Monday, its free AI assistant had surpassed OpenAI’s ChatGPT in downloads from Apple’s App Store. The surge in DeepSeek’s popularity coincided with a sharp decline in U.S. tech stocks, leading to a record $593 billion market value loss for Nvidia in a single day.

 

Lawmakers Urge Trump to Consider New Curbs on Nvidia Chips Used by China’s DeepSeek

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U.S. lawmakers are calling on President Donald Trump’s administration to consider imposing new export controls on Nvidia’s AI chips, particularly the H20 model, which they allege is being used by China’s AI company DeepSeek. Republican John Moolenaar and Democrat Raja Krishnamoorthi, co-chairs of the House of Representatives Select Committee on China, sent a letter to National Security Advisor Michael Waltz urging a review of the U.S. export control system.

The lawmakers expressed concern that the H20 chip, which is not currently covered by existing U.S. export restrictions, is being used in DeepSeek’s newly released sophisticated AI model. This comes amid growing concerns in Washington over China’s rapid advancements in AI. DeepSeek, which recently launched a free AI assistant, claims its technology uses significantly less data and is far more cost-effective than incumbent models, potentially marking a shift in the AI investment landscape.

In addition to the lawmakers’ letter, the U.S. House of Representatives’ Chief Administrative Officer notified offices not to use DeepSeek’s technology, citing an ongoing review. The U.S. government has long been concerned that China could leverage AI for cyberattacks or even bioweapons development, prompting former President Joe Biden to initiate measures to limit China’s access to AI chips.

Nvidia responded, stating that its products comply with all U.S. regulations and that the company is open to collaborating with the administration on AI-related matters.