53 stories from 13 sources
The week in Startups and VC
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Anthropic progressed from filing its S-1 to preparing for a possible listing, while disclosures about losses, compute commitments, and expected junk credit sharpened the test for frontier AI economics. The week turned its IPO into both a public-market benchmark and a financing challenge.
OpenAI cut its fundraising target by $10 billion and lowered its valuation target from $1.4 trillion to $1.25 trillion. The repeated disclosures pointed to weaker investor appetite and greater pressure to justify continued spending.
Cohere secured $5 billion to build AI systems outside the control of major US and Chinese technology companies. The financing elevated data, infrastructure, and deployment control into a central startup strategy.
Kalshi raised $1 billion at a $40 billion valuation, nearly doubling its value and making prediction markets one of the most heavily funded emerging financial platforms. The scale increases the burden to prove durable trading activity, revenue, market integrity, and regulatory progress.
Upwind raised $450 million in Series C funding to expand cloud and AI security products and engineering. The round gives the company resources to address enterprise security complexity as AI workloads grow.
Day’s Recap