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Ubisoft Delays ‘Assassin’s Creed Shadows’ Release Again

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Ubisoft has announced a further delay in the release of Assassin’s Creed Shadows, pushing the launch from February 14 to March 20. This marks the second delay for the highly anticipated game in the Assassin’s Creed series, with the original release date being set for November before being postponed in September.

The additional month will allow the development team more time to incorporate player feedback from the previous months, aiming to refine the game further before its official release. Ubisoft has highlighted that the feedback from the Assassin’s Creed community has been increasingly positive, and the extended time will help to ensure the best possible launch conditions.

This delay adds to Ubisoft’s recent struggles, which include a disappointing reception for Star Wars Outlaws, released in August 2024, that did not meet sales expectations. As a result, Ubisoft’s shares have halved in value over the past year.

Additionally, Ubisoft revealed plans for significant restructuring after a strategic review, including appointing advisers to explore options for improving stakeholder value. The company aims to reduce its fixed cost base by more than €200 million by FY2025-26 and take a more selective approach to investments.

For the third quarter, Ubisoft forecasts net bookings around €300 million, a significant drop from earlier projections due to weak holiday sales and the discontinuation of XDefiant.

 

OpenAI Unveils Restructuring Plans to Create Public Benefit Corporation

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OpenAI announced plans to restructure its organization, creating a public benefit corporation (PBC) to facilitate easier fundraising and remove constraints imposed by its current nonprofit parent. This change follows growing competition in the artificial intelligence sector, where companies are increasingly focused on developing artificial general intelligence (AGI) capable of surpassing human intelligence.

The new PBC structure is designed to balance the pursuit of shareholder value with the broader societal interests of AI development. Under this plan, OpenAI’s for-profit arm would transition to a Delaware-based PBC, allowing it to raise more capital while maintaining a commitment to public good. The nonprofit will retain a significant interest in the PBC and will be one of the best-resourced nonprofits globally.

The restructuring follows OpenAI’s $6.6 billion funding round, which valued the company at $157 billion and was contingent on altering the company’s profit-sharing structure. The move aligns OpenAI with competitors like Anthropic and Musk’s xAI, which have adopted similar structures to attract investments.

Despite the restructuring’s potential, OpenAI faces opposition. Elon Musk, a co-founder of OpenAI, has criticized the shift, arguing that the company’s push for profit is prioritizing financial gain over its public mission. He has even filed a lawsuit against OpenAI, alleging that the company’s actions have violated the spirit of its original mission. Meta Platforms has also called for California’s attorney general to block the conversion, emphasizing concerns about the impact on public good.

Although becoming a benefit corporation doesn’t mandate prioritizing mission over profit, it formally declares the intent to balance both. However, the enforcement of this balance relies on the company’s shareholders rather than legal provisions.

 

Northvolt Moves Toward Longer-Term Bankruptcy Financing

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Swedish electric vehicle battery manufacturer Northvolt announced on Friday that it is making progress toward securing additional bankruptcy financing, with plans to finalize the arrangement by late January. Since entering bankruptcy on November 21, the company has engaged with over 100 potential lenders and investors to secure the necessary funds for its restructuring.

Northvolt’s initial bankruptcy loan, a $100-million facility from Swedish truck maker Scania, was meant to help the company through the early stages of its restructuring. However, it was not intended to carry the company through the entirety of the bankruptcy process. The company is now actively evaluating proposals from both strategic and financial investors to provide long-term financing.

At a court hearing in Houston on Friday, Northvolt’s attorney, Jack Luze, confirmed that the company is working on a longer-term financing proposal, which will be presented to U.S. Bankruptcy Judge Alfredo Perez during a court session scheduled for January 28.

Judge Perez approved the bankruptcy loan in full on Friday, after previously allowing the company to access the initial $51 million from the loan. A Northvolt spokesperson expressed satisfaction with the progress, noting the approval of the loan as an important step in the restructuring process.

The company, which has raised over $10 billion in an effort to produce electric vehicle batteries and compete with dominant Chinese manufacturers, remains operational with around 6,600 employees across seven countries. Northvolt is hopeful that its bankruptcy restructuring will allow it to continue business as usual while addressing its financial challenges.