The VC who backed Perplexity early says the winners are already pulling away — and the rest of the AI pack is about to learn what "compounding advantage" really means.
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The AI tooling wars just got a new scoreboard, and the margin between "data platform" and "AI infrastructure" has evaporated. Databricks raised $5 billion at a $190 billion valuation, its second mega-round this year in the data platform wars against Snowflake and Google
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While the market whispers about a $2 trillion IPO valuation, Anthropic is telling investors to forget the spreadsheets and watch the models run.
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Three months after raising a billion dollars, Kalshi is already back at the table asking for nearly double the valuation—either prediction markets just became the fastest-growing asset class in crypto, or venture capital has completely lost the plot.
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The platform that let retail traders crash GameStop just packaged venture capital into a publicly traded wrapper with the same fees that VCs charge billionaires. Robinhood Ventures Fund II priced its IPO at $25 per share, raising $200M to invest in early-stage private companies
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The company making the memory chips for AI training just became worth more than the company that makes the apps people actually use. CXMT Corp. overtook Tencent Holdings as China's most valuable company, marking the first time a memory chip maker has topped the country's valuation rankings
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The same CTO who watched Firefox lose the browser wars now wants to win the AI infrastructure race by open-sourcing the whole stack. Mozilla's CTO Raffi Krikorian argues AI should be built on open-source infrastructure, mirroring how the early internet scaled without proprietary gatekeepers
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A Portuguese drone company nobody's heard of just became worth more than most European unicorns, and the quiet part is who's writing the checks. Tekever, a surveillance drone maker, is raising up to €500 million at a €5.5 billion valuation, a 5x jump from 2025
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Crypto protocols have been playing pretend with governance tokens while Web2 companies paid dividends — that gap is about to close, and fast.
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The people building the future of intelligence are about to get very, very liquid, and Wall Street is bending over backwards to catch the wave. Wealth management firms are slashing fees and negotiating terms to court employees at Anthropic and OpenAI ahead of expected IPO windfalls
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The valuation tells you everything: AI's Cambrian explosion just entered its "give me $750M at seed" phase. Kevin Weil, OpenAI's former CPO who led their Prism science initiative, is raising $150M at a $750M valuation for an AI science startup focused on gathering scientific data for AI models
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India's fintech market just got its latest test case for whether consumer lending apps can actually build durable businesses worth owning. Navi Ltd., the fintech from Flipkart co-founder Sachin Bansal, is prepping a $315 million IPO in India, hiring banks to formalize the process
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A two-month-old company just raised more money than most startups see in a lifetime, and the founder's last gig was building Grok with Elon Musk. River AI raised $1.1 billion in Series A funding led by General Catalyst, despite being founded just two months ago by xAI co-founder Igor Babuschkin
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Google's 30th employee just became Silicon Valley's newest billionaire-in-waiting without writing a single line of code for his new company. Jeff Dean left Google after 27 years to launch Discovery Loop, a public benefit corporation focused on automating machine learning, science, and engineering
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The chip company that bet everything on being different just discovered that different doesn't mean predictable. Cerebras reported a decline in hardware revenue, a surprising reversal for the newly public company that builds AI computers with wafer-scale chips
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The AI wealth boom just doubled the real estate record in Silicon Valley's most expensive suburb — and we're still in the early innings.
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The machines that train AI are now being used as collateral, and nobody's quite sure what they're worth when the music stops.
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The AI gold rush has its own version of vendor financing, and Wall Street just decided it's not a problem. Counterpoint's Neil Shah discusses Nvidia's "circular deals" — the practice of chip companies financing the very customers buying their GPUs to power AI infrastructure
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Wall Street's most cautious bank just paid top dollar to own a billion-dollar Bitcoin options factory. Goldman Sachs acquired NEOS for $2.25 billion in a cash-and-equity deal, instantly gaining a ~$1 billion Bitcoin covered-call ETF business
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Someone's finally building the Blue Book for AI chips — and CME wants to build futures on it. Silicon Data raised $30.5M to build pricing and performance benchmarks for AI compute, positioning itself as an "independent referee" for the GPU market
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