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flag Octopus Energy sold a minority stake in its AI unit Kraken, valuing it at $8.65 billion, to fund its spin-off and global expansion.

flag Octopus Energy has sold a minority stake in its AI-powered Kraken Technologies unit, valuing it at $8.65 billion, as part of a plan to spin it off into an independent company. flag The deal raised $1 billion in equity from investors including D1 Capital Partners, Fidelity International, and Ontario Teachers’ Pension Plan, with an additional $320 million injected into Octopus Energy. flag After the transaction, Octopus will retain a 13.7% stake in Kraken, which serves over 70 million energy accounts globally and powers major utilities. flag The separation aims to accelerate Kraken’s global expansion, with a potential stock market listing in London or New York by September 2026.

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