Alibaba’s Profit Falls 75% as AI Spending Surges
Alibaba’s profit fell about 75% in the June quarter as AI infrastructure spending jumped 75%, even as cloud revenue grew 45% and the company touted its new Qwen3.8-Max model.
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Nvidia in Talks to Back Data Startup Mercor at $20 Billion
Nvidia has discussed investing in Mercor, a data-labeling startup that supplies expert data for its Nemotron models, in a round that would double the company’s valuation to $20 billion.
Anthropic’s Revenue Run Rate Hits $65 Billion Ahead of IPO
Anthropic’s annualized revenue run rate reached $65 billion at the end of July, a sevenfold jump in seven months, as the Claude maker prepares for a potential fall IPO.
Higgsfield Raises $400 Million, Quadrupling Its Value to $5.4 Billion
By
Samantha Reed
• 3 mins read
AI video startup Higgsfield raised a $400 million Series B at a $5.4 billion valuation, more than quadrupling its worth in eight months as it pushes into enterprise marketing.
Anthropic Investors Eye a Record $2 Trillion IPO Valuation
By
Samantha Reed
• 4 mins read
Investors expect Anthropic to target a valuation of $2 trillion or more in an October IPO, which would be the largest listing in history, driven by surging revenue.
Lovable Raises $400M at $13.3B Valuation Led by Menlo Ventures
By
Samantha Reed
• 2 mins read
Vibe-coding platform Lovable has closed a $400 million funding round at a $13.3 billion valuation, led by Menlo Ventures and the EU-backed Scaleup Fund managed by EQT.
AI Startup Funding Share Falls to 53% as Venture Hits $65B
By
Samantha Reed
• 5 mins read
AI startups captured 53% of global venture funding in July, their lowest share since December, even as total investment reached $65 billion in a record month for mega-rounds.
AMD and Anthropic Partner on 2 Gigawatt MI450 GPU Deployment
By
Olivia Grant
• 2 mins read
AMD and Anthropic have announced a strategic partnership to deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs in AMD Helios rack-scale solutions, with the first gigawatt deployment beginning in the first half of 2027.
SoftBank Plans $369 Million Bond Sale to Fund Its AI Push
By
Samantha Reed
• 3 mins read
SoftBank plans to sell about ¥60 billion of notes in Japan this month, its latest raise to fund a mounting AI bet that includes nearly $65 billion committed to OpenAI.
Anthropic Commits $10M CAD to Canadian AI Research Institutions
By
Samantha Reed
• 2 mins read
Anthropic has committed $10 million CAD to Canadian research institutions to fund responsible AI development, announcing partnerships with eight universities and institutes including Mila, the Vector Institute, and Amii.
IBM Shares Plunge 23% After Warning of a Quarterly Earnings Miss
By
Maria Konash
• 4 mins read
IBM shares sank about 23% after it warned that preliminary second-quarter results fell short, as clients diverted spending toward memory and servers ahead of price increases.
DeepSeek Founder Liang Wenfeng Becomes World’s Richest AI Developer
By
Samantha Reed
• 2 mins read
DeepSeek founder Liang Wenfeng’s net worth has more than doubled to $36 billion following a new funding round, making him the wealthiest founder among pure-play AI development companies, according to Bloomberg.
Paradigm Closes $1.2B Fund to Expand Into AI and Robotics
By
Ethan Caldwell
• 2 mins read
Crypto-focused venture firm Paradigm has closed a $1.2 billion fund, its first with a mandate extending beyond digital assets into artificial intelligence and robotics.
Lovable in Talks to Raise $300M at $13.2B Valuation
By
Samantha Reed
• 2 mins read
Swedish vibe-coding startup Lovable is reportedly in talks to raise $300 million at a $13.2 billion valuation, double the $6.6 billion it achieved in December 2025.
Apple Commits Over $30 Billion to Broadcom for US-Made Chips
By
Samantha Reed
• 3 mins read
Apple expanded its partnership with Broadcom in a multi-year deal worth more than $30 billion, its largest US manufacturing commitment, to produce over 15 billion American-made chips.