Investors and funding

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The venture fund that spent $4.6 billion in a year just raised $6 billion more

Founders Fund, the venture capital firm co-founded by Peter Thiel, closed a $6 billion growth fund on 1 May, its largest ever and its fourth dedicated late-stage vehicle. The majority of the capital, $4.5 billion, came from limited partners including sovereign wealth funds. The remaining $1.5 billion came from the firm’s own partners and employees, […]

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Blue Owl made 10x its money on SpaceX and has already sold half its position

The alternative asset manager’s co-CEO disclosed the returns on a Q1 earnings call, framing the SpaceX gain as a hedge against potential software credit losses from AI disruption, a revealing window into how private credit firms are navigating the AI era Blue Owl Capital has sold approximately half its SpaceX investment at a $1.25 trillion […]

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SPRIND opens applications for €125M competition to build Europe’s first frontier AI labs

The Next Frontier AI Challenge, announced at EurIPS in December, explicitly tells applicants not to try to catch up with OpenAI, but to leapfrog to the next architectural S-curve, with up to €1 billion in follow-on funding dangled for the three winning labs. SPRIND, Germany’s federal agency for breakthrough innovation, opened applications today for its […]

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More banks join SoftBank’s $40 billion OpenAI loan as syndication enters soft-launch phase

HSBC, BNP Paribas, and Intesa Sanpaolo are among eight institutions that have submitted commitments as sub-underwriters, in one of the largest tests of creditor appetite for AI-linked debt. The $40 billion bridge loan SoftBank signed in March to fund its investment in OpenAI is attracting more lenders, with at least eight banks now having submitted […]

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NVIDIA and Atlassian back Legora’s $600m Series D in a $50m extension that values the legal AI startup at $5.6 billion

The Stockholm-founded company, which crossed $100m in ARR in 18 months, has now raised $866m in total, and Nvidia’s entry marks the chip giant’s first investment in legal tech. Legora has added $50 million to its Series D round, bringing the total to $600 million and maintaining its $5.6 billion valuation, the company exclusively told […]

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NVIDIA and Atlassian back Legora’s $600m Series D in a $50m extension that values the legal AI startup at $5.6 billion Read More »

Earlybird closes €360M Fund VIII, its largest ever, with a new perpetual ownership model and a deeptech-first thesis

The Berlin firm, founded in 1997, has raised a new fund every three to four years through every market cycle. Fund VIII is oversubscribed, manages €2.5 billion across strategies, and bets heavily on AI infrastructure, foundation models, and deeptech. Earlybird Venture Capital has closed its eighth early-stage fund at €360 million, the largest in the […]

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Earlybird closes €360M Fund VIII, its largest ever, with a new perpetual ownership model and a deeptech-first thesis Read More »

Cognizant to acquire AI infrastructure specialist Astreya for $600 million

The deal, Cognizant’s fourth major acquisition in 18 months, is designed to plug a specific gap in its AI builder strategy: the ability to design, build, and run the physical data centre infrastructure that enterprise AI actually runs on. Cognizant has agreed to acquire Astreya, a San Jose-based IT managed services firm specialising in AI […]

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Spain’s Solaria raises €300m to power data centres with solar and battery storage

The Spanish solar developer is betting that co-locating renewable generation with battery storage adjacent to data centres is the answer to AI’s power hunger, and investors are oversubscribed at 6.7x. Europe has a data centre problem. Electricity grids across the continent are struggling to keep pace with the power demands of the AI boom, planning […]

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True Anomaly raised $1 billion to build weapons for a programme the Pentagon has not committed to building

True Anomaly, the Colorado-based startup that builds autonomous spacecraft for orbital combat, has raised $650 million in Series D funding at a $2.2 billion valuation, bringing total capital raised to $1 billion since its founding in August 2022. The round was co-led by Eclipse and Riot Ventures, with new investors Paradigm, Atreides, G Squared, The […]

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True Anomaly raised $1 billion to build weapons for a programme the Pentagon has not committed to building Read More »

Venture capital is moving beyond code because the next tech boom will be built, not programmed

For more than two decades, software has defined the trajectory of venture capital. It was efficient, scalable, and, for a long time, unmatched in its ability to generate outsized returns. Investors poured capital into SaaS platforms, marketplaces, and digital infrastructure, confident in a model that prioritized speed, low marginal costs, and rapid growth. I was […]

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