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Here's your morning TNB Tech Minute for Monday, October 27th.

I'm Zoe Colkin for the Wall Street Journal.

We are exclusively reporting Mercor, a startup that's become a critical component in the ecosystem

improving top AI models, is finalizing a new funding deal that would value the company at $10 billion,

five times the value it had in February. That's according to people familiar

with the matter. The jump in value is credited to Mercor's pivot to one of the most lucrative

sectors in the AI boom, hiring thousands of workers to train the machines that could one day

replace them. Swiss drug maker Novartis is acquiring the San Diego-based biotech, Avidity Biosciences,

in a $12 billion deal, further boosting its long-term focus on treating neuromuscular disorders.

Avidity is developing experimental drugs based on emerging technology to treat forms of muscular dystrophy,

a multi-billion-dollar market.

Under the deal, avidity shareholders would receive $72 a share, a 46% premium to its Friday

close.

And Australia's consumer watchdog is suing Microsoft, alleging the U.S. tech giant misled

its 2.7 million customers by making it difficult for them to avoid

paying for new AI services. The Australian Competition and Consumer Commission filed a case in

federal court claiming Microsoft didn't clearly tell existing Microsoft 365 subscribers how to opt out

...