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Qualcomm acquires AI chip startup Modular for $4 billion to challenge Nvidia's dominance

Qualcomm announced a $4 billion all-stock acquisition of AI infrastructure startup Modular, gaining software that runs AI models across different chips without custom coding. The deal positions Qualcomm to challenge Nvidia's CUDA platform while expanding its presence in the booming data center market as it reduces reliance on smartphone chips.

Startups9 sources

Qualcomm acquires AI chip startup Modular for $4 billion to challenge Nvidia's dominance

Startups9 sources

Credo Technology stock surges 89% as AI connectivity firm eyes $10 billion optical market

Credo Technology has nearly doubled in 2026 as the company transitions from a copper-based AI-connectivity provider to a dual copper-and-optical AI connectivity platform. Evercore ISI initiated coverage with a $325 price target, citing the firm's expansion into optical solutions and a total addressable market that could reach $10 billion—20 times larger than its current market.

Business2 sources

Credo Technology stock surges 89% as AI connectivity firm eyes $10 billion optical market

Business2 sources

Upscale AI raises $190 million to build networking infrastructure for the AI era, hits $2B valuation

Upscale AI closed a $190 million Series A-1 round led by Premji Invest, bringing total funding to $500 million and valuation to $2 billion in under 18 months. The startup is building open-standard networking fabric to connect AI chips from different manufacturers, challenging Nvidia's dominance in AI data center switches as spending approaches $100 billion annually by 2030.

Startups2 sources

Upscale AI raises $190 million to build networking infrastructure for the AI era, hits $2B valuation

Startups2 sources

Getty Images strikes OpenAI deal for ChatGPT, stock surges 200% after years of AI lawsuits

Getty Images announced a multi-year partnership with OpenAI to bring licensed visual content into ChatGPT search and discovery features. The deal sent Getty Images stock soaring over 200% in premarket trading, marking a dramatic shift for a company that spent years fighting AI companies in court over copyright violations and unauthorized use of its images.

Technology7 sources

Getty Images strikes OpenAI deal for ChatGPT, stock surges 200% after years of AI lawsuits

Technology7 sources

SK hynix files for $29 billion Nasdaq listing to fund AI memory fabs and advanced packaging plants

SK hynix is raising up to $29 billion through a Nasdaq listing on July 10, channeling all proceeds into advanced AI memory fabrication facilities and EUV equipment. The move comes as the company overtakes Samsung to become South Korea's most valuable listed company, riding the wave of surging demand for high-bandwidth memory chips used in AI systems.

Business14 sources

SK hynix files for $29 billion Nasdaq listing to fund AI memory fabs and advanced packaging plants

Business14 sources

Micron earnings become crucial test for AI rally momentum as memory chip demand takes center stage

Micron Technology's quarterly earnings report has emerged as a critical indicator for the sustainability of the AI-driven stock market rally. With shares up 298% this year, investors are closely watching for signs that surging demand for high-bandwidth memory and AI data centers can continue. The report comes amid elevated valuations and questions about whether AI spending momentum can sustain its impressive trajectory.

Business7 sources

Micron earnings become crucial test for AI rally momentum as memory chip demand takes center stage

Business7 sources

Abu Dhabi's MGX explores multi-billion dollar acquisition of data center operator DayOne

Abu Dhabi's AI-focused investment firm MGX is exploring a multi-billion dollar acquisition of Singapore-based data centre operator DayOne, sources reveal. The potential deal could mark MGX's first Asian acquisition as it pursues aggressive global expansion, though valuation differences around DayOne's $20 billion IPO target may complicate negotiations.

Business3 sources

Abu Dhabi's MGX explores multi-billion dollar acquisition of data center operator DayOne

Business3 sources

SpaceX IPO raises record $75 billion as AI ambitions fuel valuation debate and market volatility

SpaceX completed the largest IPO in history, raising $75 billion and briefly reaching a $2 trillion valuation. But the stock has since tumbled 16%, erasing most IPO gains as analysts question whether its AI ambitions can justify premium multiples. Valuation expert Aswath Damodaran warns the AI business remains nascent with uncertain economics, while the company burns through $1 billion monthly on AI infrastructure.

Business5 sources

SpaceX IPO raises record $75 billion as AI ambitions fuel valuation debate and market volatility

Business5 sources

Prem AI raises $100M as enterprises choose to own their AI infrastructure instead of renting it

Swiss startup Prem AI is raising $100 million in Series A funding at a valuation exceeding $500 million to build private AI infrastructure for hedge funds and law firms. The company's pitch centers on owning enterprise intelligence rather than renting it from third-party providers. Alongside the funding round, Prem launched Fluso, an encrypted AI workspace designed for organizations where data sovereignty and regulatory compliance are non-negotiable.

Startups2 sources

Prem AI raises $100M as enterprises choose to own their AI infrastructure instead of renting it

Startups2 sources

General Intuition raising $300M at $2B valuation to train AI agents on gaming footage

General Intuition, the New York AI startup that rejected OpenAI's $500 million acquisition offer, is now raising $300 million at a $2 billion valuation. Backed by Jeff Bezos and Eric Schmidt, the company trains AI agents using Medal's dataset of 2 billion first-person gaming clips annually, offering a unique approach to teaching machines spatial-temporal reasoning.

Startups3 sources

General Intuition raising $300M at $2B valuation to train AI agents on gaming footage

Startups3 sources

Ford launches $2B battery storage unit to power AI data centers amid surging infrastructure demand

Ford has launched Ford Energy, a $2 billion subsidiary manufacturing large-scale battery storage systems for AI data centers and utilities. Using CATL-licensed LFP technology at a repurposed Kentucky plant, the automaker aims to produce 20 gigawatts annually starting in late 2027. The move signals Detroit's bet that energy storage markets will outpace electric vehicles as data center demand accelerates.

Business2 sources

Ford launches $2B battery storage unit to power AI data centers amid surging infrastructure demand

Business2 sources

Baseten raises $1.5 billion at $13 billion valuation as AI inference demand explodes

Baseten is finalizing a $1.5 billion funding round that values the AI inference platform at up to $13 billion, more than doubling its $5 billion January valuation. The dual-tiered structure allows some investors to buy in at $11 billion while others pay $13 billion, reflecting surging demand for inference as companies shift workloads to open-source AI models that cost a fraction of proprietary alternatives.

Startups3 sources

Baseten raises $1.5 billion at $13 billion valuation as AI inference demand explodes

Startups3 sources

Gradial raises $65M as agentic AI platform transforms enterprise marketing automation

Seattle-based Gradial has raised $65 million in Series C funding for its agentic AI platform that automates enterprise marketing operations. The startup, valued at $675 million, has now raised over $110 million in just 16 months as major brands like T-Mobile, AWS, and Prudential adopt its AI agents to execute work across existing marketing tools.

Startups3 sources

Gradial raises $65M as agentic AI platform transforms enterprise marketing automation

Startups3 sources

Yann LeCun blasts Elon Musk's xAI as failure, warns AI labs risk massive bubble explosion

Yann LeCun, the godfather of AI and founder of AMI Labs, has publicly dismissed Elon Musk's xAI as a failure that cannot compete with OpenAI and Anthropic. He warns the entire AI industry faces a bubble explosion as companies lose billions while costs outpace revenue. The critique comes as xAI posted a $2.5 billion operational loss in Q1 2025.

Business2 sources

Yann LeCun blasts Elon Musk's xAI as failure, warns AI labs risk massive bubble explosion

Business2 sources

Robo.ai to acquire QC Capital for $60 million, targeting $2.4 billion in revenue milestones

Robo.ai announced a $60 million all-stock acquisition of QC Capital, an AI-driven investment firm specializing in AI agents and vertical AI applications. The deal structures share releases over eight years, contingent on achieving cumulative revenue of approximately $2.4 billion across 2026 and 2027. Robo.ai stock jumped nearly 19% following the announcement.

Business2 sources

Robo.ai to acquire QC Capital for $60 million, targeting $2.4 billion in revenue milestones

Business2 sources

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