First Pass

5 stories from 3 sources

AI funding surges across chips, agents, and software

Day’s Recap

Supporting Articles

3:16 AMTechCrunch

AI chip maker SambaNova raises $1B at $11B valuation, 5 months after last mega round

Summary

SambaNova raised $1 billion at an $11 billion valuation just months after another large financing. The deal contrasts with prior market chatter that Intel explored an acquisition around $1.6 billion.

Why it matters

The jump from rumored $1.6 billion takeout to an $11 billion valuation resets expectations for AI chip exits and makes acquisition less likely in the near term.

2:45 AMBloomberg Markets

AI Chip Startup SambaNova Raises Funds at $11 Billion Value

Summary

SambaNova Systems raised $1 billion at an $11 billion valuation. The round signals sustained investor demand for AI infrastructure, including custom chips and systems.

Why it matters

A $1 billion round at $11 billion shows investors still reward AI infrastructure scale, reshaping valuations and competitive intensity across the compute stack.

3:54 PMPYMNTS

Prime Intellect Raises $130 Million to Help Companies Train AI Agents

Summary

Prime Intellect raised $130 million in a Series A round to scale its "open superintelligence stack" for training and operating AI agents. It sells an end to end platform that bundles compute, large scale reinforcement learning tooling, environments and sandboxes, evaluation, deployment, and continuous improvement for open frontier models.

Why it matters

If the platform works, it lowers the cost and time to build deployable AI agents, accelerating enterprise adoption and reshaping where AI infrastructure spend concentrates.

12:22 PMTechCrunch

Prime Intellect raises $130M Series A to help enterprises build their own AI agents

Summary

Prime Intellect raised a $130 million Series A to build tools that let enterprises train and run their own agentic AI systems. The company positions itself as an alternative to depending on frontier AI labs for agent development and deployment.

Why it matters

If enterprises can reliably build agents in-house, AI spend moves from external API consumption to internal platforms, changing procurement, margins, and competitive advantage across the agent ecosystem.

6:41 PMTechCrunch

Lovable reportedly in talks to double its valuation to $13.2B

Summary

Lovable is in talks to raise about $300 million at a reported $13.2 billion valuation, roughly doubling its prior mark. Menlo Ventures is expected to lead the round.

Why it matters

A doubled valuation in a $300 million round is a signal about where growth capital is flowing and how aggressively the top end of the market is reopening.

Make it yours

Build Your First Pass.

Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!