Mistral AI (AI Infrastructure & Foundational Models): $2B

Databricks (AI Infrastructure & Foundational Models): $1B

Cognition AI (AI Developer Tools & Platforms): $400M

AI Infrastructure & Foundational Models: ~$3.4B

AI Developer Tools & Platforms: ~$705M

FinTech AI: ~$315M

Mistral AI officially announced its €1.7B Series C funding round at an €11.7B post-money valuation. The round was led by semiconductor equipment manufacturer ASML, which entered into a strategic partnership with Mistral to advance the use of AI in the semiconductor industry. Mistral AI Blog

DataCrunch, a Helsinki-based provider of high-performance AI infrastructure, raised a €55M Series A round. Led by byFounders, Skaala, Varma pension fund, and Tesi, the funding will be used to scale its green cloud computing platform and advance its mission to become Europe's first AI cloud hyperscaler, boosting the region's data sovereignty. Tech.eu

Databricks closes a $1B funding round at a $100B valuation from investors including Thrive Capital and Andreessen Horowitz. The data analytics giant also increased its revenue forecast for the fiscal year to $4B, with $1B of that expected to come from its AI products, underscoring the massive enterprise demand for AI solutions. The Wall Street Journal

Reflection AI, a year-old startup developing superintelligent AI tools for coding, is nearing a funding round of about $1B that would value the company at up to $5.5B. Nvidia's venture arm is set to invest at least $250M, joined by Lightspeed Venture Partners, Sequoia, and DST Global. Financial Times

Scintil Photonics, a leader in integrated photonics for AI infrastructure, raised a $58M Series B round led by Yotta Capital Partners and NGP Capital, with participation from NVIDIA. The funding will scale production of its single-chip optical interconnect solutions designed for next-generation AI data centers and GPU clusters. Scintil Photonics Blog

Perplexity has reportedly secured $200M in new capital at a $20B valuation. The funding for the AI-powered search startup comes just two months after it raised $100M at an $18B valuation, bringing its total funding to $1.5B as it continues to challenge Google's dominance in search. TechCrunch

Spiral, a database startup, has launched with $22M in funding to build a database designed for the speed and complexity of AI workloads. The funding, a mix of seed and Series A, will help the company address the limitations of traditional database technology in the AI era. Axios

Clockwork Systems, a data center infrastructure company, raised $20.5M in new funding to expand its clock synchronization technology to AI and GPU workloads. The company’s new offering, FleetIQ, aims to boost the performance of AI training and inference by maximizing GPU cluster utilization. SiliconANGLE

Micro1, a platform for sourcing high-skill human contractors for AI data labeling, secured a $35M Series A at a $500M valuation. 01 Advisors led the round, the venture firm of former Twitter executives Dick Costolo and Adam Bain. The funding arrives as major AI labs seek alternatives to market leader Scale AI, fueling Micro1's rapid growth to a reported $50M in annual recurring revenue. StartupHub.ai

AxonIQ, the creator of an event-driven architecture for AI-native enterprise systems, completed its Series A funding round, bringing its total raised to over $18M. The round was led by existing investors AVP, Volta Ventures, and Trifork. The funding will support the company's U.S. expansion as it provides foundational infrastructure to address data quality, governance, and orchestration challenges in enterprise AI. AxonIQ Blog

Cognition AI, the creator of the AI software engineer Devin, raised approximately $400M at a $10.2B valuation. The round, led by Founders Fund, will fuel the company′s rapid growth after its annual recurring revenues soared from $1M to over $73M in less than a year, accelerated by its acquisition of the coding startup Windsurf. Bloomberg

Dazl, a NYC-based AI creation platform for building production-ready applications, raised $10M in seed funding. The round was led by 40RTY Fund, with participation from Wix and its co-founder, Nadav Abrahami, to expand operations and development of its platform that enables human-AI collaboration in app development. FinSMEs

Sphinx, a startup building AI agents and copilots for data science workflows, launched with a $9.5M seed round led by Lightspeed. The company’s AI copilot is purpose-built for data professionals, integrating with Jupyter notebooks and VSCode to help transform raw data into actionable insights through agentic reasoning. Axios

Blocks.diy, an AI-native platform for creating custom work tools, raised a $10M seed round led by monday.com. Founded by former monday.com executives, the Tel Aviv-based startup enables teams to build intelligent apps and AI agents using plain language, aiming to democratize work automation. Tech Funding News

Runware, an AI media generation platform for developers, raised a $13M seed round led by Insight Partners. The company provides a unified API for accessing over 400,000 AI models, aiming to simplify the developer experience for creating images, videos, and audio. Runware Blog

Replit, a collaborative, browser-based coding platform, raised $250M in a new funding round led by Prysm Capital, reaching a $3B valuation. The round saw participation from Amex Ventures and Google's AI Futures Fund, bringing the company's total capital raised to approximately $478M. The funding follows explosive annualized revenue growth from $2.8M to $150M in less than a year, positioning Replit as a central hub for developers building with AI. StartupHub.ai

Blocks.diy, an AI-powered, no-code platform for teams, secured $10M in a seed round led by monday.com, marking the work management company's first-ever startup investment. Founded by two monday.com alumni, Blocks.diy combines an AI app builder with smart agents that automate data extraction, analysis, and coordination across systems like HubSpot, LinkedIn, and Notion, allowing non-technical users to build custom work tools. PRNewswire

Altan, a Barcelona-based platform that assembles teams of AI agents to design, build, and operate software autonomously, raised $2.5M in a pre-seed round. The company's "agent-native" approach allows users to describe a product via text or voice, after which AI squads of engineers, designers, and product managers orchestrate its creation and deployment. The goal is to create fully autonomous software that can run without human intervention. Tech.eu

Motion, a Y Combinator-backed startup building an integrated suite of AI agents, raised a $38M Series C round at a $550M valuation. Led by Scale Venture Partners, the funding will help Motion build out its "Microsoft Office of AI agents," which provides SMBs with a bundle of AI assistants for tasks like scheduling, sales, and customer support. TechCrunch

Fyxer.ai, an AI-powered productivity assistant for professionals, closed a $30M Series B led by Madrona. The company has seen its ARR grow from $1M to $17M in under eight months by offering a simple, integrated AI companion that handles administrative tasks like email drafting and scheduling within familiar tools like Gmail and Outlook. Tech Funding News

Interaction, the startup behind the AI assistant Poke, raised $15M in seed funding led by General Catalyst at a $100M valuation. The company is building Poke to live entirely inside iMessage, where it integrates with a user's email and calendar to provide proactive, conversational nudges for tasks like paying invoices and rescheduling meetings. Tech Funding News

Cassidy, an AI automation platform for non-technical teams, raised a $10M Series A led by HOF Capital. The funding will be used to expand its no-code platform that enables business users to build context-aware AI agents and workflows for tasks ranging from customer support triage to CRM updates. PR Newswire

Geordie AI, a startup providing a security and governance platform for agentic AI, launched with $6.5M in seed funding. The round, co-led by Ten Eleven Ventures and General Catalyst, will support the development of its agent-native platform that gives enterprises visibility and control over autonomous AI agents integrated into their operations. StartupHub.ai

Architect AI, a startup building an "agentic website" platform, secured a $4.75M seed round led by Project A. The company is developing autonomous web agents that can transform static websites into dynamic, self-learning platforms that personalize content and workflows for each visitor in real time. Tech.eu

Brain Co., an AI startup co-founded by Jared Kushner, Elad Gil, and Luis Videgaray, emerged from stealth with a $30M Series A. The round was led by Kushner's Affinity Partners and Gil's Gil Capital. The company aims to help large businesses and governments implement AI by building custom applications on top of foundation models from partners like OpenAI. Forbes

Koi, a Washington, D.C.-based endpoint security startup founded by Israeli intelligence unit alumni, raised a combined $48M in seed and Series A funding. The company is building a centralized platform to manage the risk of self-installed software, using an AI-powered engine to provide visibility and policy enforcement across enterprise endpoints. FinSMEs

AegisAI, an email security startup launched by former Google security leaders, emerged from stealth with $13M in seed funding co-led by Accel and Foundation Capital. The company is building autonomous AI agents to detect and neutralize phishing, malware, and business email compromise threats before they reach user inboxes. TechCrunch

Quack, a proactive agentic AI platform for customer support, raised a $7M seed round led by Hanaco Ventures and Storytime Capital. The platform is designed to move customer support from a reactive to a proactive model, using AI agents to resolve issues before they escalate to human teams. Built for SaaS and high-growth companies, Quack integrates with any CRM to help businesses scale support operations. StartupHub.ai

Pactos, a Munich-based startup building an AI platform for external workforce management, raised €2.7M in a pre-seed round led by High-Tech Gründerfonds. The platform uses agentic AI to streamline the management of external workers by automatically reviewing contracts, tracking assignments, and storing data to ensure compliance. The funding will be used to further develop its AI platform and expand its team. Tech.eu

Accordance, a startup developing AI software for tax and accounting professionals, raised $13M in seed funding from investors including Khosla Ventures, General Catalyst, and Anthropic. The platform, trained on public tax data and customer financial histories, helps professionals navigate complex tax regulations. The company is also partnering with universities to integrate its tool into accounting curricula. Forbes

AnthroTek, a synthetic anatomy startup, closed a £950,000 (~$1.2M) seed round by using the legal AI platform from Genie AI instead of a traditional law firm. The move reportedly cut legal costs by 90% and reduced turnaround time from weeks to days, setting a precedent for how UK startups can leverage AI to accelerate access to capital. StartupHub.ai

Teton.ai, a company using AI and computer vision for elderly care, raised $20M in a round led by Plural. The Copenhagen-based startup creates a "digital twin" of care home operations to observe and understand events, providing data that improves resident outcomes. The funding will support its U.S. launch and European expansion. Global Banking and Finance Review

LightSpun (formerly 32Health), an AI-powered platform for dental insurance administration, raised a $13M Series A led by Brewer Lane. The company's platform automates claims, benefits management, and provider onboarding, enabling over 90% of claims to be auto-adjudicated and reducing administrative costs by half. Business Wire

Optain Health, a healthcare technology company specializing in AI-powered retinal screening, secured a $26M Series A led by Insight Partners. The funding will help scale its platform, which uses robotic imaging and AI to analyze retinal images for signs of diabetic retinopathy, glaucoma, and cardiovascular disease risk. HIT Consultant

Ridge Biotechnologies emerged from stealth with a $25M seed round led by Sutter Hill Ventures. The company is using proprietary machine learning models and high-throughput experimentation to power precision enzyme and targeted drug design for applications in antibody-drug conjugates (ADCs) and other precision medicines. Business Wire

Pathwork, an AI-powered distribution platform for the life and health insurance sector, raised $3.5M in seed funding led by Costanoa. The company's tools automate underwriting by analyzing unstructured data and provide agents with instant expertise on carrier-specific rules, aiming to streamline complex insurance workflows. GlobalData

Penguin AI, a healthcare AI company automating administrative workflows, secured $29.7M in funding, including a $25M Series A led by Greycroft. Founded in 2024, the company's generative AI platform integrates task-specific models and digital agents to streamline processes like prior authorizations, medical coding, and claims adjudication for payers and providers. HIT Consultant

Goodpath, a virtual provider of whole-person care for chronic conditions, raised $18M in a Series A financing led by MassMutual Ventures. The company will use the funding to accelerate the expansion of its AI-driven, integrative care platform, which covers weight management, musculoskeletal pain, sleep, digestive health, diabetes, and mental health. PRNewswire

OpenHealth Technologies, a Berlin-based healthtech startup, closed a $3M seed round led by GoHub Ventures, bringing its total funding to $4.3M. The company has built an AI-powered API that ingests raw lab results from siloed sources (like PDFs) and transforms the unstructured data into clean, AI-ready formats, aiming to build a central infrastructure for lab data and enable personalized care. Tech Funding News

Lōvu Health, a digital maternal health platform using AI to provide continuous care from conception through postpartum, secured an $8M Series A led by SJF Ventures. The company’s AI-powered platform aims to address the U.S. maternal mortality crisis by transforming clinical workflows, providing real-time remote patient monitoring, and connecting mothers to specialty care. PRNewswire

Alchemab Therapeutics, a biopharmaceutical company with an AI-enabled platform for discovering therapeutic antibodies, announced a $32M Series A extension, bringing its total Series A financing to $114M. The round included participation from Eli Lilly and Company and Ono Venture Investment. The capital will support the clinical development of its pipeline, including a wholly-owned program for muscle atrophy derived from its platform that identifies protective antibodies from individuals resilient to disease. PRNewswire

Earnix, an insurance and banking technology company, is the subject of a $290M single-asset continuation fund deal led by TPG GP Solutions. The transaction provides liquidity to early investors in the AI-powered platform, which helps financial institutions with dynamic pricing and personalization, while positioning it for future growth. Bloomberg

Pave Finance, a provider of AI-powered wealth management software, raised $14M in an oversubscribed seed financing round. The company will use the capital to scale its platform, which enables investment advisors to automate the construction and management of personalized client portfolios. Financial IT

Orbii, an embedded credit infrastructure platform for the MENA region, raised a $3.6M seed round led by Prosus Ventures. The company's AI-powered platform enables lenders to underwrite and monitor SME loans in real time by integrating with systems like POS and ERP, automating on-demand lending. Orbii Blog

Marloo, a London- and Auckland-based startup, raised $2.7M in a pre-seed round led by Blackbird Ventures. The company is building an AI assistant for financial advisers to automate note-taking, document creation, and client communication, aiming to modernize the workflows of advisers using outdated software. Tech Funding News

Metal, an AI startup focused on the private equity industry, raised $5M in a funding round led by Base10 Partners. The company has built an "AI operating system" that helps PE firms analyze investment opportunities by ingesting and structuring historical deal data from memos, call transcripts, and financial documents into a single, searchable system. VentureBeat

Koah raised $5M in a seed round led by Forerunner to build a monetization layer for the "long tail" of consumer AI applications. The company is developing a platform to serve ads within AI chatbots, betting that advertising will become a crucial revenue model for AI apps, especially those with users in markets less inclined to pay for subscriptions. TechCrunch

Higgsfield, a "click-to-video" AI platform for social media, announced a $50M Series A led by GFT Ventures. The company, founded by the former Head of Generative AI at Snap, has developed a Video Reasoning Engine that allows creators and brands to transform ideas into cinematic short-form videos with a single click. PR Newswire

Born, a Berlin-based AI gaming startup, raised a $15M Series A from investors including Accel, Tencent, and Laton Ventures. The company's flagship product, Pengu, is a "social" AI companion and virtual pet that users co-parent with a friend or partner, aiming to combat loneliness through shared digital experiences. TechCrunch

X Square Robot, a Chinese robotics startup, secured a $140M Series A+ round co-led by Alibaba's cloud unit and state-backed CAS Investment Management Co. The funding will help the company develop its robotics algorithms and its open-source foundation model, Wall-OSS, as it focuses on building advanced intelligence for a variety of robots. Bloomberg

Rendezvous Robotics exited stealth with $3M in pre-seed funding to build reconfigurable space infrastructure. The company is developing "tesserae," modular, magnetically latching tiles that can autonomously assemble into large structures in orbit, such as antennas and solar arrays. TechCrunch

Procense, a San Francisco-based industrial automation startup, secured $1.5M in seed funding led by Kevin Mahaffey and HighSage Ventures. The company's AI-native manufacturing platform leverages IoT sensors and intelligent software agents to digitize, automate, and optimize production processes, helping manufacturers modernize operations and address labor constraints. StartupHub.ai

Hive Robotics, a Munich-based startup, raised a €2M pre-seed round led by b2venture to build the future of multi-domain autonomous robot swarms. The company's AI-driven control layer simplifies complex coordination, turning fleets of drones, rovers, and unmanned vessels into cohesive, real-time teams for industries ranging from disaster response to infrastructure monitoring. Tech Funding News

CuspAI, a startup developing AI foundation models for chemistry and materials science, raised a $100M Series A at a $520M valuation. The round was co-led by NEA and Temasek, with participation from Nvidia and Hyundai, to advance its "search engine for the material world," which aims to design novel materials for applications like carbon capture and sustainable energy. Fortune

Nuclearn, an AI platform for the nuclear energy industry, raised $10.5M in a Series A round led by Blue Bear Capital. The company's domain-specific AI automates complex operational, engineering, and compliance workflows for nuclear reactors, addressing a critical need as the industry faces workforce shortages and growing demand for carbon-free power. PR Newswire

Adaptive Security raised an additional investment from OpenAI's Startup Fund, bringing its total funding to $55M. The company, which is the only cybersecurity startup backed by OpenAI, uses AI to run simulated phishing and social engineering attacks to train employees to recognize and defend against AI-driven threats like deepfakes and voice cloning. SiliconANGLE

Aurva, a data security startup founded by former Meta engineers, raised $2.2M in a seed round led by Nexus Venture Partners. The company's platform focuses on AI observability and access monitoring, linking every data access event to a verified human or AI agent identity to prevent misuse of sensitive enterprise data. The Economic Times

Otovo USA launched with over $4M in initial funding led by EIC Rose Rock to create an AI-driven home energy management service. The company's "Endurance" platform will use AI to monitor, maintain, and optimize residential solar, battery, and EV charging systems, acting as a "power partner" for American homeowners. Business Wire

ProteanTecs, an Israeli startup focused on AI-powered chip health and performance monitoring, closed a $51M Series D round led by IAG Capital. The funding brings its total capital raised to over $250M. The platform embeds monitoring circuits directly into chips to gather telemetry data, which is then analyzed by AI to identify potential design flaws and accelerate time-to-market for new processors. StartupHub.ai

Clyx, a Miami/London-based social platform designed to combat loneliness, raised $14M in Series A funding led by Blitzscaling Ventures. The Gen Z-founded company uses AI-powered features for curated event recommendations and compatibility-based social matching to help users connect offline by finding and attending events together. FoundersToday

LocusX, a Montreal-based startup, announced CAD$3M in seed funding co-led by Diagram and Triptyq to develop its AI-powered issue resolution engine for video game development. The software aims to accelerate game development by using AI to pinpoint, prioritize, and suggest fixes for bugs, tackling one of the most time-consuming bottlenecks in the industry. Business Wire

Messium, a UK agritech startup, secured a £3.3M seed investment co-led by the UK Innovation & Science Seed Fund and Expansion Aerospace Ventures. The company uses AI-driven models and hyperspectral satellite imaging to analyze crop nitrogen levels, providing farmers with weekly, field-specific recommendations to optimize fertilizer use, increase yield, and reduce environmental impact. Startups Magazine

Magnite, a sell-side advertising company, acquired streamr.ai, a platform specializing in AI-powered tools for Connected TV (CTV) advertising. The acquisition will enable Magnite to offer solutions that simplify CTV creative generation and campaign setup, aiming to unlock the ad market for small and medium-sized businesses. Advanced Television

SingleStore, a data platform for enterprise AI, announced a growth buyout led by private equity firm Vector Capital. The deal, which makes Vector the majority owner, will accelerate the growth of SingleStore's real-time, AI-native database solutions. Existing investors, including Google Ventures and Dell Technologies Capital, will remain shareholders. Silicon Canals

F5, the Seattle-based security and application delivery giant, will acquire CalypsoAI for $180M. CalypsoAI, founded in 2018, provides security solutions for companies deploying generative AI, including real-time threat defense. The acquisition will boost F5's enterprise security offerings and address the expanding attack surface created by AI adoption. GeekWire

Nayya, a health and wealth AI benefits adviser, is acquiring Northstar, a financial wellness company. Concurrent with the acquisition, Nayya unveiled a new "SuperAgent," an agentic AI adviser that provides tailored guidance and can take actions on an employee's behalf, such as enrolling them in wellness programs or appealing denied claims. The combination creates a unified platform for employees' health and financial benefits. Nayya Blog

Opper AI, a UK-based startup focused on ensuring reliability for generative AI systems, has acquired FinetuneDB, a platform that simplifies dataset curation and fine-tuning for large language models. The financial terms were not disclosed. The acquisition signals a broader trend of companies aiming to own the full lifecycle of autonomous agents, from data preparation and model training to deployment and monitoring. Tech.eu

OpenAI launched its "People-First AI Fund," a $50M commitment to support U.S.-based nonprofits and community organizations. The initiative will provide unrestricted grants to groups focused on increasing AI literacy, fostering community-led AI innovation, and expanding economic opportunity through AI. OpenAI

CoreWeave, a publicly traded AI cloud infrastructure provider, launched a venture fund to invest in AI startups. CoreWeave Ventures will provide portfolio companies with capital, access to its GPU-based cloud platform, and go-to-market guidance. The news caused CoreWeave's shares to jump over 5%. CNBC

The California State Assembly passed SB 243, a bill that would regulate AI companion chatbots to protect minors and vulnerable users. If signed into law, it would be the first state legislation to require safety protocols for AI companions, holding companies like OpenAI, Character.AI, and Replika legally accountable for harms. TechCrunch

Senator Ted Cruz introduced a bill to create a federal AI "sandbox" that would allow companies to apply for two-year exemptions from federal regulations to experiment with new AI technologies. The proposal is intended to lower regulatory hurdles and boost U.S. competitiveness against China, though it has drawn criticism from consumer advocacy groups. Reuters

Major web publishers, including Reddit, Yahoo, Medium, and Quora, have backed the new Really Simple Licensing (RSL) standard, an open protocol that allows publishers to specify payment terms for AI companies scraping their sites for training data. The standard, built on top of the robots.txt protocol, is designed to create a scalable way for publishers to get compensated for their content. The Verge

Mira Murati's Thinking Machines Lab, a secretive AI research startup with $2B in seed funding, published its first research blog post. The post details the lab's project to create more deterministic and reproducible AI model responses, tackling the inherent randomness in current LLMs like ChatGPT. TechCrunch

San Francisco's Office of Labor Standards Enforcement is investigating Scale AI over its labor practices and treatment of its thousands of contract workers. The probe will examine issues such as sick leave, minimum wage, and overtime pay for city residents who have worked for the data labeling giant. Business Insider Africa

The UK government claims its tech workers are saving 28 working days a year by using AI coding assistants like Microsoft GitHub Copilot and Google Gemini Code Assist. A trial involving over 1,000 experts across 50 departments showed that the tools saved employees almost an hour per day. The government hopes to leverage AI to save £45B across the public sector. Tech.eu

The current AI investment boom, which could see over $3T spent on data centers by 2028, ranks among the largest in modern history and poses significant financial risks, according to an analysis by The Economist. Even if the technology succeeds, mismatched expectations, slower-than-hoped adoption, or a shift to smaller models could lead to significant investor losses. An "AI chill" could cause a nasty shock to the economy, as the boom has reportedly contributed 40% of U.S. GDP growth over the past year. The Economist

A new generation of AI founders in San Francisco is embracing a "hardcore" work ethic defined by 90+ hour work weeks, and a "no booze, no sleep, no fun" mentality, reports The Wall Street Journal. Fueled by the conviction that AI represents a once-in-a-lifetime platform shift, the culture marks a return to the intense, all-consuming ethos of the early internet era, with many young entrepreneurs dropping out of universities like Stanford to pursue trillion-dollar ambitions. The Wall Street Journal

Silicon Valley Bank released its "State of the Markets H2 2025" report, analyzing the innovation economy with a deep dive into the AI boom. Key findings from the report include:

Daedalus Special Acquisition, a consumer-facing AI and tech SPAC, filed for a $200M IPO. SEC Filing

Meta's aggressive recruitment for its new elite AI research unit has sparked internal tensions, with some existing employees complaining about the massive pay packages offered to new hires from rivals like OpenAI and Google. The all-out "war for talent" has led to some new recruits quickly departing and internal jockeying for positions and raises. The Wall Street Journal

AxonIQ appointed former Anaconda executives Jessica Reeves as CEO and Barry Libert as Chairman. The new leadership team is tasked with accelerating the company's U.S. market penetration and meeting enterprise demand for its AI orchestration and infrastructure platform. Reeves previously served as COO and interim CRO at Anaconda, helping scale it to a $1.5B valuation. AxonIQ Blog

Robby Walker, one of Apple's most senior AI and search executives, is leaving the company. Walker, who previously oversaw Siri, was more recently leading a team building a new AI-powered web search system to compete with Perplexity and ChatGPT. His departure is part of a broader exodus of AI executives and engineers from the company as it works to catch up in the generative AI race. Bloomberg

ElevenLabs, an AI voice generation startup, is enabling employees to sell up to $100M in stock through a tender offer that values the company at $6.6B. The secondary sale, led by Sequoia Capital and Iconiq Growth, provides liquidity for early staff and signals strong investor confidence as the company's annual recurring revenue is on track to hit $300M by year-end. Bloomberg

Mercor, a startup that connects AI labs like OpenAI and Meta with domain experts for model training, is in discussions for a Series C round at a valuation of $10B or more. The company is approaching a $450M annualized revenue run rate as it helps top AI companies with data labeling and reinforcement learning. TechCrunch

OpenAI signed a massive five-year, $300B cloud computing contract with Oracle, a deal that far outstrips OpenAI's current revenue and is one of the largest cloud deals in history. The commitment will provide OpenAI with 4.5 gigawatts of power capacity to help alleviate its computing shortage and build out its data center infrastructure. The Wall Street Journal

OpenAI has reached a non-binding agreement with its largest investor, Microsoft, to allow the startup to convert its for-profit arm into a Public Benefit Corporation (PBC). The move, which requires regulatory approval, would allow OpenAI to raise more capital and eventually become a public company. As part of the new structure, the original OpenAI nonprofit will retain control over operations and own an equity stake valued at more than $100B. TechCrunch