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Haripriya Suresh / Reuters : Revolut says it aims to base 40% of its global workforce in India by the end of 2026, increasing its local headcount to 5,500;
Wall Street Journal : Sources: Reflection AI, which is developing open foundation models, seeks to raise $2.5B at a pre-money valuation of $25B; JPMorgan is
Bloomberg : A study finds ~$143M in suspicious profits on Polymarket over two years, using patterns consistent with the use of nonpublic info, as prediction
Reuters : OpenFX, an FX market-making and remittance startup launched by a FalconX co-founder, raised $94M led by Accel and others, a source says at a ~$500
As OpenAI gears up for a potential IPO, it's outlined a more tempered infrastructure strategy and has moved away from an ambitious agreement with Nvidia.
OpenAI's nascent ads business has surpassed $100 million in annual recurring revenue less than two months after launching its pilot in the U.S.
OpenAI said it's closing Sora, the short-form video app that went viral after its launch six months ago
Financial Times : OpenAI puts plans for an erotic chatbot on hold “indefinitely” as it refocuses on its core products, sources say after concern
Berber Jin / Wall Street Journal : OpenAI plans to discontinue products that use its Sora models, including its consumer app, a Sora version for developers
The new unified app aims to help OpenAI streamline the user experience.
Bloomberg : Sources: OpenAI nears a deal to raise ~$10B from Abu Dhabi's MGX, Coatue, and Thrive, bringing its latest funding round to ~$120B at a $730B val
Wall Street Journal : How Nvidia became the AI industry's most powerful financier, investing billions in startups and supporting customers who couldn't othe
CEO Jensen Huang took the stage at Nvidia’s GTC conference this week in his signature leather jacket to deliver a two-and-a-half-hour keyno
Reuters : Taiwanese memory chipmaker Nanya raised $2.5B in a private placement from Sandisk, SK Hynix's Solidigm, Cisco, and Kioxia to expand advanced chip
Wall Street Journal : Sources: Moonshot AI may scrap its Cayman structure for a China or Hong Kong entity to prepare for a Hong Kong IPO and plans to raise
Mirage, the maker of video editing app Captions, has raised $75 million in growth financing from General Catalyst's Customer Value Fund (CVF).
Ivan Mehta / TechCrunch : Mirage, formerly Captions, which develops an AI video editing and marketing suite, raised $75M from General Catalyst, after movin
Bloomberg : Sources: Microsoft agrees to a deal with Crusoe to lease a data center project in Abilene, Texas, representing ~700 MW, after Oracle and OpenAI
The company is reducing Copilot entry points on Windows, starting with Photos, Widgets, Notepad, and other apps.
Jonathan Stempel / Reuters : Match Group agrees to settle an FTC lawsuit claiming it illegally shared user data from the OkCupid app with facial recognitio