Good day and welcome to WSJ Pro Bankruptcy's Daily Briefing. It's Wednesday, June 10. In today's briefing, CDK Global, a Brookfield-backed automotive software company, has entered discussions with a group of creditors led by Pimco and Blackstone to restructure its $5.5 billion debt following a devastating 2024 cyberattack, sources told WSJ Pro Bankruptcy.

CDK Global, a software company backed by Brookfield, is in talks with creditors to restructure its $5.5 billion of debt, according to people with knowledge of the matter.

CDK, which provides software to auto dealerships and original equipment manufacturers, has been in discussions with a group of creditors led by Pimco and Blackstone, the people said.

The discussions come as the company grapples with the debt raised to fund its leveraged buyout by Brookfield in 2022. The company faced a cash crunch after it paid tens of millions of dollars in ransom to restore its system after a massive cyberattack in 2024.

Sam Bankman-Fried, the convicted co-founder of collapsed crypto exchange FTX, has formally applied for a presidential pardon, more than two years after receiving his 25-year prison sentence.

The 34-year-old submitted an application to the Justice Department’s Office of the Pardon Attorney, according to the office’s website. The case’s status remains pending, the website says.

Broadcom said it will partner with Apollo Global Management and Blackstone’s credit and insurance business to launch a platform backed by an initial $35 billion to finance artificial-intelligence infrastructure.

The platform, called the AI XPV Platform, will enable more than 20 gigawatts in compute capacity through 2028, employing Broadcom’s chips and networking solutions to support companies including Anthropic and OpenAI.

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