Separating AI hype from reality.
Nebius Group reported third-quarter revenue of $980.8 million on Thursday, up 571% from a year earlier, but the Amsterdam-based AI cloud provider cut its 2026 revenue forecast and outlined a 2027 capital-expenditure plan of $40–45 billion that will test whether the “neocloud”…
OpenAI told investors on Tuesday that its third-quarter revenue crossed $10 billion for the first time, according to Bloomberg, which cited people familiar with the call. The figure would represent a nearly 50% jump from the $6.7 billion reported for the second quarter and…
Salt Lake City–based Torus announced Wednesday it has raised $500 million in Series C funding and launched Foundry, a line of prefabricated units that package power, storage, cooling, networking and GPUs into 1-to-20-megawatt modules designed to be installed behind the meter at…
British AI chip startup Fractile has raised $720 million in a Series C funding round that values the company at $7 billion, with the UK government's Sovereign AI fund and the British Business Bank joining a roster of high-profile Silicon Valley investors. The deal marks a major…
Anthropic began its investor roadshow Tuesday for a Nasdaq listing targeting a fully diluted valuation of up to $1.4 trillion, even as AI stocks slide and regulatory scrutiny intensifies.
Columbus, Ohio–based Path Robotics has closed a $300 million Series E round at a $2.45 billion post-money valuation, nearly quadrupling its previous valuation, the company announced Tuesday. Georgian, an AI-focused growth-equity firm, led the round with participation from…
Mercor, a platform that pays human experts to create training data and evaluation tests for AI models, announced a $750 million Series D round on November 10 that values the company at $20 billion. The round doubles the roughly $10 billion valuation Reuters reported after…
Anthropic set an IPO price range in an amended S-1 filing on Tuesday, with the roadshow launching the same day, pricing 825 million Class A shares at $70 to $78 each. At the top of the range the company would be valued at roughly $1.4 trillion on a fully diluted basis, or about…
Meta has handed control of its artificial intelligence ambitions to Alexandr Wang, the 29-year-old founder of Scale AI, in a move that signals both a philosophical shift toward leaner research teams and a financial commitment that dwarfs its previous AI spending.
Meta eliminated roughly 8,000 roles in May — about 10% of its workforce — and scrapped plans to fill 6,000 open positions, while simultaneously earmarking $115 billion to $135 billion in capital expenditures for 2026, nearly double the $72 billion spent in 2025. The company also…
Anthropic is pressing ahead with plans for a Nasdaq listing as early as the week of November 16, moving toward what could be the largest AI initial public offering to date even as market volatility forces a substantial downward revision in valuation expectations.
At a government-hosted forum in Seoul on November 9, Nvidia announced a direct equity investment in one Korean startup and said it plans to invest in three others — moves that tie the chipmaker more closely to South Korea's push for "sovereign AI" across models, robotics and…
AI startup Traversal has closed a $120 million Series B round at a $1 billion valuation, betting that the next bottleneck in AI-assisted software development is not writing code but keeping it running reliably in production.
A US startup called Physical Superintelligence (PSI) says an internal AI system running an unreleased Anthropic model has produced a complete proof of the Aaronson–Ambainis conjecture, a central open problem in quantum complexity theory since 2008. The proof was checked and…
AI infrastructure startup Groq is seeking a new funding round at an $8 billion pre-money valuation, more than doubling the $3.15 billion valuation it commanded in August before a $350 million raise, according to investor documents reviewed by Bloomberg. The Series B pitch, led…
Pennsylvania Governor Josh Shapiro signed Executive Order 2026-05 on August 18, 2026, removing AI data center proposals from the state’s Fast Track permitting program and prohibiting nondisclosure agreements for data center projects. The order establishes the Governor’s…
Defense technology company Shield AI announced November 5 that it has agreed to acquire radar manufacturer Echodyne Corp. in a transaction valued at $5.3 billion, while simultaneously raising $2.5 billion in new capital at a $28.8 billion post-money valuation — more than double…
OpenAI has received roughly $11 billion in commitments for the first close of its latest funding round, valuing the company at $1.25 trillion, according to multiple reports Friday. The amount is less than half the $30 billion the company initially sought at a $1.4 trillion…
Thinking Machines Lab, the AI startup founded by former OpenAI CTO Mira Murati in February 2025, has released its second-generation model, Inkling 2 Small. The Mixture-of-Experts model carries 594 billion total parameters with 17 billion active during inference, supports image…
Anthropic's planned initial public offering — which could be the first for a frontier AI model developer — is being repriced in real time. Prospective investors are now discussing a valuation of $1.2 trillion to $1.3 trillion, down from the $1.4 trillion to $1.5 trillion range…
Thinking Machines Lab, the AI startup founded by former OpenAI chief technology officer Mira Murati, is reportedly closing in on a $5 billion funding round at a $40 billion valuation, according to multiple people familiar with the matter cited by Business Insider and…
Anthropic's planned Nasdaq listing — the first for a frontier AI lab — is running into a wall of seller resistance. Potential investors are pushing for a lower valuation and questioning whether the company can proceed with its roadshow next week for a November debut, four people…
Anthropic has paid a news publisher for the first time. The company licensed Associated Press election data for Claude to surface real-time, attributed results during the U.S. midterms on November 3, according to Adweek, which cited two people familiar with the matter. Neither…
Agility Robotics began trading on the Nasdaq today under the ticker AGLT, completing a SPAC merger with Churchill Capital Corp XI that makes it the first U.S. publicly listed company focused solely on humanoid robots. The deal values Agility's existing equity at $2.5 billion and…
Meta Platforms has sold $15 billion of U.S. dollar-denominated bonds in a five-part offering, the latest step in a financing push that could reach $25 billion across currencies and comes alongside a planned equity raise that sources value differently. The debt sale underscores…
British power generator Drax, Canadian asset manager Brookfield, AI infrastructure platform Radiant and Qatar's Qai announced a strategic partnership on Tuesday, November 3 to develop what could become one of the UK's largest AI data centre campuses at Drax Power Station in…
Anthropic's revised S-1A registration statement, filed Monday with the SEC, contains a striking disclosure: the company believes it may soon meet its own internal definition of recursive self-improvement (RSI) — the point at which AI systems can autonomously improve their own…
Abu Dhabi state entities announced a series of agreements with OpenAI on Monday as the lab pushes to secure up to $20 billion in new funding co‑led by United Arab Emirates investors, aiming to close commitments before rival Anthropic's expected public listing in mid‑November.
Anthropic filed an amended Form S-1 with the SEC on Monday, adding third-quarter results to the draft prospectus it submitted last week. The update reveals a company growing revenue at a pace rarely seen in enterprise software, while locking in compute obligations that dwarf the…
Nvidia reported second-quarter fiscal 2027 revenue of $96.2 billion, up 106% from a year earlier, confirming the chipmaker remains the primary beneficiary of AI infrastructure spending. The results, released August 26, beat consensus estimates of $92 billion and were driven by…
S&P Global Ratings on Friday revised its outlook on Meta Platforms to "negative" from "stable," citing significant uncertainty around the company's capital spending and free operating cash flow. The agency affirmed Meta's AA- long-term issuer credit rating but warned that a…
Anthropic's path to a record-breaking stock market listing has hit a significant financing snag. Blackstone, acting as anchor investor in the AI lab's $63 billion chip financing deal, has told investors that major credit rating agencies are expected to assign the company a…
OpenAI has reduced the target for its latest funding round from $30 billion to about $20 billion, lowering the valuation from $1.4 trillion to $1.25 trillion, according to the Financial Times and Reuters. The move comes as a broad selloff in technology stocks and growing…
Nvidia is in talks to guarantee several billion dollars of debt financing for Nscale, a UK-based AI cloud provider building a data-center campus in West Virginia that Anthropic plans to use, according to reports cited by KuCoin and MarketScreener. The arrangement would make the…
Chinese AI company DeepSeek has closed a 105.5 billion yuan venture round — the largest in China's AI sector to date — with state-owned investors supplying 27% of the capital, according to a Dealroom.co summary of reporting from The Information, which cited two people with…
Canadian AI startup Cohere has completed the first close of a financing round that could total up to $5 billion, valuing the company at more than US$20 billion. The round includes strategic investments from Nvidia and the Canadian government, marking what would be the largest…
Microsoft reported its fiscal first-quarter 2027 results Wednesday, delivering a quarter that exceeded Wall Street expectations on revenue, profit and cloud growth while also disclosing two figures that have long been absent from its financial statements: Azure's standalone…
Anthropic filed its S-1 registration statement with the SEC on Monday, confirming plans to list on Nasdaq under the ticker "ANT" and offering the first detailed look at the finances of a frontier AI lab. The filing shows revenue of $16.3 billion for the first half of 2026 — a…
Meta Platforms announced Monday its largest-ever equity fundraising: a $35 billion public offering launched immediately, with a further $60 billion at-the-market program planned for 2027. The combined $95 billion would fund an AI infrastructure buildout that has already pushed…
The Information reports that OpenAI has captured a majority of coding work at several large enterprise customers by undercutting Anthropic on API pricing, though independent usage data shows a more contested picture.
A draft IPO prospectus reviewed by the Wall Street Journal and Reuters shows Anthropic posting third-quarter revenue of $16.8 billion, up 45% from the previous quarter. First-half 2026 revenue was $16.3 billion, roughly 15 times the $1.1 billion recorded in the first half of…
Meta reported $2.12 billion in negative free cash flow for the third quarter of 2026 — its first cash burn in more than a decade — as capital expenditures hit $34.91 billion and the company raised its full-year spending forecast to $135–145 billion. The financial strain has…