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Expert perspectives on venture capital, private markets, and the future of investment.

2025 Report
·5 min read

The $700 Billion Problem 

Half of 2026's planned data centers won't be built. States are banning them. Two of the winners just filed to go public.

·1 min read

Token spend is the new cloud bill

Ramp just launched Ramp AI Spend Intelligence, a tool to help companies track their AI costs across model subscriptions, API spend, and tool sprawl.

·1 min read

Rolling out the red carpet

Nasdaq will change the rules for its flagship index to let newly public companies join within 15 trading days, down from three months currently.

Signals

Signals

20 latest

Nvidia and Unitree Partner to Develop Advanced Humanoid Robot Powered by Isaac GR00T

Nvidia and Unitree have announced a collaboration to build a new humanoid robot powered by Nvidia's Isaac GR00T platform, with Jensen Huang describing it as a meaningful step toward highly capable robots. The partnership also involves Sharpa and signals a major push into real-world capable humanoid robotics.

Source: TechRadar

Ayar Labs Raises $500M Funding Round Backed by Nvidia and AMD

Optical interconnect startup Ayar Labs has closed a $500 million funding round with backing from major chipmakers Nvidia and AMD, signaling strong industry confidence in photonic interconnect technology for data centers.

Source: Data Center Dynamics

Seres Partners with ByteDance to Launch New Automotive Brand

Chinese automaker Seres, maker of the Aito brand, has partnered with ByteDance to co-launch a new automotive brand. The deal marks a significant expansion of ByteDance's footprint in the smart vehicle and mobility sector.

Source: CarNewsChina.com

Anthropic Expands Mythos Model to 150+ Organizations Across 15+ Countries

Anthropic has expanded access to its Mythos model to more than 150 additional organizations across over 15 countries, broadening the AI system's global reach.

Source: CNBC

Arm Confirms ByteDance Among Users of Its Data Centre CPU Chips

Arm has confirmed that ByteDance and Oracle are among the users of its data centre CPU chips, highlighting ByteDance's diversified chip strategy for its infrastructure. The disclosure underscores ByteDance's significant investment in data centre hardware.

Source: Reuters

US Federal Court Cites Ripple as Established Blockchain Standard in JPMorgan Patent Ruling

A US federal court has named Ripple as an established blockchain standard in a patent ruling involving JPMorgan, marking a notable legal recognition of Ripple's technology.

Source: TradingView

Musk Floats Tesla-SpaceX Merger Into $3.4 Trillion Conglomerate

Elon Musk has floated the idea of merging Tesla and SpaceX into a $3.4 trillion giant, though analysts warn the combined entity would lose money from day one and may not benefit Tesla shareholders.

Source: Fortune

Anthropic confidentially submits draft S-1 to the SEC

Anthropic confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for a proposed initial public offering of our common stock. This gives us the option to go public after the SEC completes its review.

Source: Anthropic

Oura Adding Blood Pressure Feature Following FDA Policy Change

Oura is set to add a blood pressure monitoring feature to its ring following a change in FDA policy, expanding its health tracking capabilities.

Source: RAPS.org

Kalshi Targets Wall Street Clients as Platform Expands Beyond Retail Traders

Kalshi is shifting its focus toward institutional and Wall Street clients after building its user base through individual retail traders, signaling a new phase in the platform's growth strategy.

Source: CNBC

OpenAI Developing Internal Tool to Challenge Nvidia's Software Advantage

OpenAI is reportedly working on an internal tool that could weaken Nvidia's software advantage, potentially reducing dependence on Nvidia's proprietary AI software stack.

Source: The Information

Polymarket Cracks Down on VPN Users Amid Global Legal Pressure

Polymarket is cracking down on VPN users as legal and regulatory pressure intensifies across dozens of countries, signaling a tightening of access controls on the platform.

Source: Gizmodo

Quantinuum Sets $1B IPO Terms at $12.7B Valuation

Quantinuum filed an amended S-1 setting the price range for its Nasdaq IPO at $45 to $50 per share on 21 million Class A shares. The deal targets up to $1.05 billion in proceeds at a $12.7 billion fully diluted valuation, with trading expected on or around June 3 under ticker QNT. It is the first traditional IPO from a full-stack quantum computing company, while every prior public-market quantum entry has come through a SPAC.2025 revenue came in at $30.9 million, up from $23 million the year prior, against a $192.6 million net loss. The company has spent more than $2 billion on R&D over the past decade and held $677 million in cash at quarter-end.

Source: SubStack

Saronic Launches Marauder MUSV and Begins On-Water Trials

Saronic launched its first Marauder Medium Unmanned Surface Vessel (MUSV) and commenced on-water trials, with HII also included in the Navy's first MUSV prototype tests.

Source: navalnews.com

NotebookLM and Perplexity Paired as Complementary AI Research Tools

A hands-on test pairing Google's NotebookLM with Perplexity AI for a week found the two tools work well together as complementary research aids, with each covering the other's weaknesses.

Source: XDA

VAST Data Powers Mistral Compute AI Factories on NVIDIA GB300 NVL72

VAST Data is powering Mistral Compute AI factories running on NVIDIA GB300 NVL72 hardware, highlighting a key deployment partnership in next-generation AI infrastructure.

Source: StorageReview.com

Blue Origin New Glenn Rocket Explodes on Florida Launchpad

Blue Origin's New Glenn rocket exploded in a massive fireball during a pre-launch test in Florida, dealing a major blow to the Jeff Bezos-backed firm's efforts to compete with SpaceX's Falcon 9 and Starlink.

Source: bloomberg-markets

OpenAI in Talks with Citigroup and JPMorgan to Join IPO Bank Lineup

OpenAI has held discussions with Citigroup and JPMorgan Chase about joining the bank lineup for its upcoming IPO, expanding the roster of financial institutions involved in the offering.

Source: bloomberg-tech

Kalshi won approval from U.S. regulators to offer crypto trading through bitcoin perpetuals

Prediction market Kalshi won approval from U.S. regulators to offer crypto trading through bitcoin perpetuals, a type of highly-leveraged derivatives product, confirming an April report by The Information.

Source: TheInformation

Airwallex Relocates Staff from China Amid US Security Concerns

Airwallex is moving staff out of China as part of its US expansion push, following allegations of a 'backdoor' enabling Chinese staff access to US customer data.

Source: Asia Tech Review

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