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Cognition raised over $2bn at a $48bn valuation, up from $26bn in May. Run-rate revenue rose from $492m to almost $900m over the same period. Both rounds price the company at roughly 53 times run-rate revenue, so the multiple did not expand. Cognition has raised more than $2bn at a $48bn valuation. The company announced the […]
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Robinhood has won its first IPO underwriting role, ranking last among 18 banks on Oura’s offering. The bigger shift is in retail distribution: SpaceX reserved about 20% of its deal for individuals and Fidelity cut its minimum order from $500,000 to $2,000. That channel is being completed just before the AI listings arrive Robinhood has […]
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American philanthropy is about to absorb something in the region of $40bn a year in new annual spending from AI wealth, Coefficient Giving chief executive Alexander Berger told Semafor editor-in-chief Ben Smith in an interview published on Thursday. That is four or five Gates Foundations of yearly outlay, on his own comparison. The figure is conditional on […]
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Fund managers in London, New York, and Tokyo have added a new step to their morning routine: checking South Korean stocks. Korea’s $4 trillion equity market is now offering an early read on global AI risk appetite, as swings in SK Hynix and Samsung ripple through chip stocks worldwide. “We are all Korean investors now,” […]
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Korea’s AI chip market is now the opening bell for global stocks Read More »
Meta has had a miserable year on the market, flat while the Nasdaq-100 climbed 18%. That changed abruptly, with the stock posting its best week since early 2024, CNBC reports. Shares rose about 6% on Friday and roughly 15% across the week. The move was not driven by advertising, the business that actually makes Meta’s money. […]
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For years the industry ran on one assumption, that the biggest model wins. That belief is now breaking down, CNBC reports. Companies are choosing models by task, cost, and control instead of benchmark position. The frontier still matters, but it is no longer the only thing being bought. The reason is unromantic. At enterprise scale, model […]
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The AI race has quietly stopped being about who has the biggest model Read More »
Executives building the AI boom are unwavering. Demand is effectively bottomless, they say, even as the stocks that ride on it wobble, CNBC reports. Pat Gelsinger, the former Intel chief now at Playground Global, put it plainly. He thinks of AI demand as almost unlimited, with energy availability “the only real limiter”. The order books support […]
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An idea that sounded radical a year ago is now a majority position. Nearly seven in ten Americans support forcing AI companies to transfer half their stock to a public sovereign wealth fund, CNBC reports. The figure comes from a Verasight survey of 1,690 US adults, conducted in June. It found 69% backing for the policy. […]
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Most Americans now say the public should own half of the big AI companies Read More »
Elon Musk says SpaceX’s blockbuster listing has probably made thousands of his employees millionaires. Asked on The Sean Hannity Show about a former welder whose stock topped $1m, he said the story was far from unique. “It’s not just one welder, it’s several thousand people who were working on the production line,” Musk said, adding […]
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Musk says he always wanted SpaceX staff to get rich, and thousands just did Read More »
Ollama has raised a $65M Series B led by Theory Ventures. Benchmark, 8VC, Y Combinator and others joined. The round takes the company’s total funding to $88M, three years after it launched, and Ollama set out the plan in a blog post on Thursday. Founder and chief executive Jeff Morgan gave the details to TechCrunch, […]
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Ollama raises $65M as its open-model runner hits nearly 9M developers Read More »