Sources: Crusoe is in IPO talks with at least four Wall Street banks, including JPMorgan, which is advising on its $3B pre-IPO fundraise set to value it at $35B (Alan Neuhauser/Axios)

Crusoe, a data center developer and power supplier, is in talks with at least four Wall Street banks about an initial public offering (IPO). According to Axios, JPMorgan is among the banks involved in these discussions. JPMorgan is also advising on a $3 billion pre-IPO fundraise that is expected to value Crusoe at $35 billion.

The US stock market is currently edging away from its record highs. This trend is attributed to investors awaiting profit reports from major retailers, which could provide insight into how consumers are coping with high inflation and a slowing job market. Several news outlets, including The Age and The Sydney Morning Herald, reported on the cautious market sentiment.

The market's cautious stance is also noted by Handelsblatt, which mentions that despite some positive news in the tech sector, US markets are reacting cautiously. Investors are reportedly waiting for the results of large retail companies in the coming week.

Brief written by urgent.news from Techmeme, CNBC, The Age, The Sydney Morning Herald, Handelsblatt — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.