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OpenAI Revenue Projection Drops $20 Billion as Anthropic Reports 45% Q3 Growth to $16.8 Billion

OpenAI told investors its annualized revenue is approaching $50 billion, $20 billion less than previously reported, triggering market volatility. Meanwhile, Anthropic disclosed 45% quarterly revenue growth to $16.8 billion as it prepares for what could be the largest IPO in history at a $2 trillion valuation.

Business29 sources

OpenAI Revenue Projection Drops $20 Billion as Anthropic Reports 45% Q3 Growth to $16.8 Billion

Business29 sources

Cal AI Founder Zach Yadegari Raises $10 Million for Persona, a Wearable AI Assistant Startup

Zach Yadegari, the 19-year-old founder behind Cal AI, has launched Persona, an AI assistant startup with a $179 wearable band. The AI startup raised $10 million led by Vine Ventures, with backing from Cory Levy, Collective Global, WHOOP, and Eight Sleep. The screenless hands-free AI assistant aims to handle multi-step tasks while prioritizing user privacy through encryption.

Startups2 sources

Cal AI Founder Zach Yadegari Raises $10 Million for Persona, a Wearable AI Assistant Startup

Startups2 sources

Trump Administration Awards National Medals to Tech Executives at Golden Age of Science Summit

President Trump will award the National Medal of Science to Elon Musk, Jensen Huang, Sergey Brin, and Lisa Su at a White House summit on October 8. The event announces over $1 billion in commitments for the Genesis Project AI initiative, marking Trump's first-ever distribution of these prestigious awards to prominent tech leaders.

Policy2 sources

Trump Administration Awards National Medals to Tech Executives at Golden Age of Science Summit

Policy2 sources

Tencent Raises $5.7 Billion Through Bond Sale to Fund Surging AI Infrastructure Spending

Tencent completed a $5.7 billion bond offering this week, its largest in over six years, to finance AI infrastructure investments. The deal featured predominantly dim sum bonds with significantly lower borrowing costs than dollar notes, as the company's capital expenditure more than doubled to 96.3 billion yuan in the first half of 2026.

Business10 sources

Tencent Raises $5.7 Billion Through Bond Sale to Fund Surging AI Infrastructure Spending

Business10 sources

Tech Giants Commit $2.4 Billion in AI Tools to Genesis Mission Amid Federal Research Funding Cuts

Five major tech companies pledged $2.4 billion in AI tools and compute credits to support the Genesis Mission at a White House summit. Nvidia leads with $1 billion over five years for quantum computing, healthcare, and energy security research. The commitments come as scientists warn that immigration restrictions and funding cuts are weakening America's research leadership against China.

Technology8 sources

Tech Giants Commit $2.4 Billion in AI Tools to Genesis Mission Amid Federal Research Funding Cuts

Technology8 sources

Manus Raises $500M in First Funding Round After China Blocked Meta's $2B Acquisition

Chinese AI agent startup Manus has raised over $500 million led by Boyu Capital and IDG Capital, marking its first funding round since Beijing blocked Meta's $2 billion acquisition in April. The raise values the company at approximately $4 billion and signals renewed investor confidence despite regulatory scrutiny and geopolitical tensions between China and the West.

Startups11 sources

Manus Raises $500M in First Funding Round After China Blocked Meta's $2B Acquisition

Startups11 sources

AI Startups Drive Europe's Best Venture Capital Quarter in Four Years as North America Dips

Europe achieved its strongest venture funding quarter in four years with $25bn raised in Q3 2026, driven by AI startups that captured 75% of total investments. Meanwhile, North American startup funding fell 35% to $92bn without new OpenAI and Anthropic megadeals, though AI-related M&A activity surged with 195 acquisitions this year.

Business5 sources

AI Startups Drive Europe's Best Venture Capital Quarter in Four Years as North America Dips

Business5 sources

Mecka AI Raises $60 Million to Fuel Robot Data Collection for Humanoid Training

Toronto-based Mecka AI secured $60 million in Series B funding led by Sequoia Capital, with backing from Nvidia, Microsoft M12, and Qualcomm Ventures. The startup collects human motion data through body sensors and smartphones to train humanoid robots, addressing a critical infrastructure gap in physical AI development.

Startups2 sources

Mecka AI Raises $60 Million to Fuel Robot Data Collection for Humanoid Training

Startups2 sources

Nous Research Secures $90M Series B at $1.5B Valuation, Launches Enterprise AI Agent Platform

Nous Research closed a $90 million Series B funding round at a $1.5 billion valuation, with backing from Nvidia, Samsung, and Robot Ventures. The startup behind the open-source Hermes AI agent, downloaded 24 million times since February, is now pushing into enterprise with Hermes for Businesses while maintaining $36 million in annualized revenue.

Startups3 sources

Nous Research Secures $90M Series B at $1.5B Valuation, Launches Enterprise AI Agent Platform

Startups3 sources

Bloom Raises $3.6M to Build AI-Powered Marketplace for US Manufacturing

Detroit-based startup Bloom has raised $3.6 million in seed funding to expand its AI-driven platform that connects hardware companies with US-based manufacturers and suppliers. Founded in 2023, the company has made over 2,000 matches for more than 140 companies, positioning itself as the Alibaba of American manufacturing.

Startups2 sources

Bloom Raises $3.6M to Build AI-Powered Marketplace for US Manufacturing

Startups2 sources

Ex-Ramp Engineers Pivot to AI Creative Platform Melius, Raise $25M After Scrapping First Product

Three former Ramp engineers have raised $25 million for Melius, an AI platform that generates ad campaigns, images, and videos. The New York-based startup achieved over $1 million in annualized revenue within two months of launching, but only after completely scrapping their original product idea and pivoting to focus on creative asset generation.

Startups2 sources

Ex-Ramp Engineers Pivot to AI Creative Platform Melius, Raise $25M After Scrapping First Product

Startups2 sources

Stuut Secures $52.5M Series B to Automate Order-to-Cash with AI, Cuts DSO by 47%

Stuut raised $52.5M in Series B funding led by Insight Partners, with participation from Andreessen Horowitz and M12. The AI-powered order-to-cash platform now serves over 150 enterprises, processing $3 billion while reducing Days Sales Outstanding by 47%. The funding brings total capital to $93 million as demand surges for automated receivables management.

Startups2 sources

Stuut Secures $52.5M Series B to Automate Order-to-Cash with AI, Cuts DSO by 47%

Startups2 sources

UP Govt to Support 50 AI Startups as HCL Tech Launches ₹500 Crore Lucknow IT City Phase 2

Uttar Pradesh government commits to supporting 50 world-class AI startups in Lucknow over the next five years, positioning the city as India's leading AI innovation hub. HCL Tech marks its 10th anniversary by launching Phase 2 of IT City with ₹500 crore investment, creating 6,000 jobs and announcing AI training for 1,000 students.

Business2 sources

UP Govt to Support 50 AI Startups as HCL Tech Launches ₹500 Crore Lucknow IT City Phase 2

Business2 sources

Ray Dalio Warns AI Bubble Nearing Bursting Point as Debt and Rising Rates Converge

Bridgewater Associates founder Ray Dalio cautioned that artificial intelligence represents a classic bubble approaching collapse. Speaking at Forbes Global CEO Conference in Singapore, he cited massive debt accumulation and climbing interest rates as critical pressure points threatening the AI sector's sustainability.

Business2 sources

Ray Dalio Warns AI Bubble Nearing Bursting Point as Debt and Rising Rates Converge

Business2 sources

Biohub Secures $1.8 Billion for AI Biology Data to Build Universal Virtual Cell

Zuckerberg-backed Biohub announced a $1.8 billion collaboration with Google DeepMind, Meta, the U.S. Department of Energy, and the National Institutes of Health to generate AI-ready biological data. The Virtual Biology Initiative aims to build predictive AI models of biology that could compress drug development timelines from years to months by enabling scientists to digitally simulate biological systems.

Science12 sources

Biohub Secures $1.8 Billion for AI Biology Data to Build Universal Virtual Cell

Science12 sources

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