💰 OpenAI extends funding round to $120B with new $10B raise

OpenAI is raising an additional $10B, bringing its total funding round to over $120B. The company was previously targeting $100B and was valued at $730B pre-money.

The new tranche includes investors like Andreessen Horowitz, TPG, and T. Rowe Price, with Microsoft also participating. Amazon had earlier committed $50B, while Nvidia and SoftBank each put in $30B.

OpenAI reported about $13.1B in revenue last year and around 900M weekly active users. Enterprise revenue is growing faster and is expected to reach about half of total revenue.

The company is preparing for a potential IPO and adjusting priorities around compute and profitability.

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🍏🔍 Apple gets Gemini access to build its own AI models

Apple gained deep access to Google’s Gemini, including running it inside its own data centers, according to The Information. The deal goes beyond usage and includes the ability to distill smaller models from Gemini.

Through distillation, large models transfer knowledge into compact versions that run faster and require less compute. Apple also has access to Gemini’s internal reasoning steps, which lets smaller models learn how outputs are produced, not just copy results.

This opens a path to on-device AI that approaches large model quality while running directly on iPhone.

Apple is still developing its own models in parallel, while a new Siri with memory and proactive features is expected at WWDC in June.

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✈️ Ferrari ships supercars by air as Gulf routes face disruption

Ferrari has started delivering some cars by air to Middle East clients after suspending most sea shipments due to restrictions in the Strait of Hormuz. Air freight now costs 4–5x more than sea transport.

The company builds highly customized supercars, with personalization making up about 20% of its automotive revenue. Wealthy clients in the Gulf are key buyers of these bespoke models.

Air delivery was already used by top clients to get cars faster, and demand continues despite higher costs.

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😱 Ark Invest just dropped some wild numbers

In 2025, AI-generated words officially outnumbered words written by humans — for the first time in history. At this pace, AI will surpass the entire 500-year archive of human-written text before 2030.

And it's already reshaping Telegram. Channels are quietly replacing human editors with automated tools — and one of the most interesting examples is @morty, built by the @maxim team. It finds relevant content on its own, writes it in the channel's voice, and leaves just one thing for the human: hit "Approve".

More media projects are going AI-first. And according to Ark Invest, this is only the beginning.

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🤖 Anthropic tests Mythos model, wins court case, moves toward IPO

Leaked documents show Anthropic is developing a new model called Mythos or Capybara. It is expected to be larger, more capable, and more expensive than Opus 4.6.

The company sees a strong jump in coding ability but is concerned about potential use in cyberattacks. Release timing will depend on coordination with security experts.

A court has overturned a Trump-era decision that labeled Anthropic a national security risk, removing pressure on government agencies to cut contracts.

At the same time, Bloomberg reports the company is in talks with Wall Street banks about an IPO planned for October.

Model capability, regulation, and capital markets are converging around the same company.

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Valuations in 2026:

Tesla: $1.4 trillion
Mercedes-Benz: $57 billion

Valuations in 2016:

Mercedes-Benz: $70 billion
Tesla:$30 billion

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🚫 Musk calls Sam Altman “Scam Altman” after claims about OpenAI strategy

Elon Musk publicly called Sam Altman “Scam Altman” following a podcast with journalist Karen Hao, who shared details from her investigation into OpenAI based on 300+ interviews, including 90+ with current and former employees.

Hao claims OpenAI reshaped its messaging in 2015 to align with Musk’s views on AI risk to secure his support.

She also says the company still adjusts how it defines AGI depending on the audience, from government to consumers to partners.

She describes internal tensions around the shift to a for-profit structure, where Altman reportedly persuaded other founders that Musk was too unpredictable to lead, after which Musk left the project.

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🤖 Anthropic deletes Claude Mythos launch post after leak

Anthropic briefly published and then removed an official blog post announcing Claude Mythos, described as its most powerful AI model to date.

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📍 Crocs turned a $10M charm deal into $260M yearly business

Crocs bought Jibbitz for $10M in 2006. The small plastic charms now generate about $260M–$270M in annual revenue and carry very high margins.

Jibbitz are accessories that snap into Crocs shoes and let users personalize them. They sell for $3–$5, and around 75% of buyers add them. Customers who buy Jibbitz spend about 2x more over time.

The charms extend the product lifecycle and drive repeat purchases without changing the core shoe. Crocs is now adding them to new categories like bags.

A small add-on turned into a core profit engine.

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Global sports industry is worth $417B. Betting alone accounts for $133B, the largest share.

Media rights bring $61B, with sponsorship and ads at $52B.

Most of the money in sports now sits around betting.

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📊 Nasdaq fast-tracks large IPOs into Nasdaq-100

Nasdaq introduced new rules to speed up inclusion of newly listed large-cap companies into the Nasdaq-100 index.

The change comes ahead of expected major IPOs like SpaceX, OpenAI, and Anthropic, with SpaceX signaling it wants immediate inclusion.

Faster entry means large new listings can attract index-linked capital sooner after going public.

✔️@venture

🏦 Bank of America to pay $72.5M in Epstein case settlement

Bank of America agreed to pay $72.5M to settle a lawsuit filed by women who said they were victims of Jeffrey Epstein’s trafficking operation. The deal was filed in federal court and awaits approval on April 2.

The lawsuit claimed the bank provided financial services to Epstein and his network while ignoring warning signs, including delayed reporting of suspicious activity. Bank of America denied wrongdoing but chose to settle.

The case covers victims between 2008 and 2019. Lawyers may take up to 30% of the fund, with the rest distributed among claimants.

The payment is small relative to the bank’s profits, but closes its exposure to Epstein-related litigation.

✔️@venture

🍏 Apple wants Siri to connect with any AI app in iOS 27

Apple plans to open Siri to third-party AI services from the App Store in iOS 27, according to Bloomberg. That means users could plug Siri into tools like ChatGPT, Gemini, or Claude, while Apple takes up to 30% from subscriptions sold through the platform.

After weak results with its own models, Apple seems to be shifting from building to distribution. Instead of spending heavily on data centers, it can use Siri as the interface layer and monetize demand across its existing device base.

The logic is simple: others build the models, Apple owns the user entry point. If that works at scale, Apple could end up making more from AI than many model companies without leading on the model side itself.

In AI, control of distribution may matter more than control of the model.

✔️@venture

🚨 Google raises quantum alarm

They state it has cut resources needed to break Bitcoin encryption by 20x, signaling major progress toward cracking crypto security.

Warns industry may have until ~2029 to prepare for the quantum threat.

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🇺🇸 Report links Pentagon official to defense ETF interest before Iran strike

A broker for U.S. Defense Secretary Pete Hegseth reportedly explored a multimillion-dollar investment into BlackRock’s defense-focused ETF shortly before the U.S.-Israeli strike on Iran, according to the Financial Times.

The inquiry was made in February through Morgan Stanley but the deal did not go through, as the fund was not yet available to those clients. It is unclear what role Hegseth had in the attempt.

The Pentagon denied the report, calling it false.
BlackRock declined to comment.

The case adds to broader scrutiny around well-timed trades ahead of major policy decisions.

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🚕 WeRide and Uber launch driverless robotaxi rides in Dubai

WeRide and Uber started fully driverless robotaxi operations with paid rides in Dubai, covering Jumeirah and Umm Suqeim.

Users can now book the service directly through the Uber app.

The rollout includes Level 4 vehicles with no driver onboard and is backed by Dubai’s transport authority.

The launch follows trials that began in late 2025, with expansion planned across industrial, suburban, and port areas.

Uber holds about 5.82% of WeRide, and both companies plan to deploy at least 1,200 robotaxis across the Middle East by 2030.

WeRide already operates over 200 in the region and reports profitability in its local robotaxi business.

✔️@venture

🚀 SpaceX files confidential IPO aiming for up to $75B raise

SpaceX has confidentially filed for an IPO, with plans to raise up to $75B. The company was recently valued at $1.25T after merging with xAI, with reports pointing to a potential $1.75T target at listing.

The company runs reusable rocket launches and operates Starlink with around 10,000 satellites. It has also secured over $24.4B in U.S. government contracts since 2008 and completed 165 orbital flights in 2025.

If completed, the IPO would be the largest in U.S. history, far exceeding Alibaba’s $22B record. Timing remains tied to market conditions, with volatility still elevated.

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⚠️ Oracle cuts up to 30,000 jobs in one day to fund AI push

Oracle laid off around 10,000 to 30,000 employees in a single day, about 18% of staff. Emails went out at 6am with no prior notice, marking the same day as the last working day. Some divisions saw cuts above 30%.

The company is shifting spending toward AI and cloud infrastructure. In 2025, rising costs created a major cash gap, pushing management to reallocate capital.

Analysts at TD Cowen estimate the layoffs could save $8–10B in free cash flow. Even if fully reinvested into AI infrastructure, payback is not expected before 2030.

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📉 OpenAI shares stall as $600M hits market with no buyers

Investors are struggling to sell around $600M worth of OpenAI shares on secondary markets. Deals that used to clear in days are now seeing no demand, according to Next Round Capital.

At the same time, marketplaces like Augment and Hiive report record demand for Anthropic shares. The gap between OpenAI’s $852B valuation and Anthropic’s $380B is pushing buyers toward Anthropic equity.

Banks including Morgan Stanley and Goldman Sachs have started offering OpenAI shares to clients without carry fees. Goldman still charges 15–20% carry on Anthropic deals.

✔️@venture

🚀 SpaceX targets $2T+ valuation ahead of IPO pitch

SpaceX is now aiming for a valuation above $2T as it prepares for its IPO. The company could raise up to $75B, marking the largest offering ever.

The jump follows its recent merger with xAI, which valued the combined entity at $1.25T.

Core revenue still comes from launches and Starlink, approaching $20B in 2026.

Funds from the IPO are expected to go into AI data centers in space and a future lunar factory.

✔️@venture