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Demis Hassabis warns AI hype masks real potential as startups raise tens of billions

Google DeepMind CEO Demis Hassabis cautions that AI startups securing tens of billions in valuations before launch face unsustainable futures. Speaking on Google DeepMind: The Podcast, he distinguished between speculative early-stage AI companies and Big Tech investments backed by real business. Despite short-term AI hype, Hassabis believes the technology remains underappreciated for its long-term potential in science and world models.

Business3 sources

Demis Hassabis warns AI hype masks real potential as startups raise tens of billions

Business3 sources

OpenAI pursues $100B funding round at $830B valuation as Amazon investment talks intensify

OpenAI is negotiating to raise up to $100 billion in a funding round that could value the ChatGPT maker at $830 billion by Q1 2026. Separately, Amazon is in early discussions to invest $10 billion in OpenAI while supplying its Trainium AI chips and cloud computing services, marking another circular deal in the AI industry as compute costs continue to escalate.

Business26 sources

OpenAI pursues $100B funding round at $830B valuation as Amazon investment talks intensify

Business26 sources

Lovable raises $330M at $6.6B valuation as vibe-coding startup triples worth in five months

Stockholm-based Lovable has raised $330 million in Series B funding at a $6.6 billion valuation, more than tripling its worth since July. The AI coding startup reached $200 million in annual recurring revenue within a year of launch, letting users build apps using text prompts without any coding experience. Major tech investors including CapitalG, Menlo Ventures, and Nvidia backed the round.

Startups11 sources

Lovable raises $330M at $6.6B valuation as vibe-coding startup triples worth in five months

Startups11 sources

Databricks raises $4B at $134B valuation as AI business drives 55% revenue growth

Databricks has closed a $4 billion Series L funding round at a $134 billion valuation, just three months after hitting $100 billion. The data intelligence company now generates $4.8 billion in annual revenue, with over $1 billion from AI products. The funding will accelerate development of Lakebase, Agent Bricks, and Databricks Apps while supporting acquisitions and global expansion.

Business6 sources

Databricks raises $4B at $134B valuation as AI business drives 55% revenue growth

Business6 sources

OpenAI-backed Chai Discovery raises $130M at $1.3B valuation as AI transforms drug development

Chai Discovery, an OpenAI-backed biotech startup, secured $130 million in Series B funding at a $1.3 billion valuation. Led by General Catalyst and Oak HC/FT, the round brings total funding to over $225 million. The company's Chai 2 AI model designs custom antibodies from scratch, solving complex drug development challenges that previously took years in just weeks.

Startups4 sources

OpenAI-backed Chai Discovery raises $130M at $1.3B valuation as AI transforms drug development

Startups4 sources

PolyAI Raises $86M at $750M Valuation to Scale Conversational AI for Enterprise Call Centers

London-based PolyAI has secured $86 million in Series D funding at a $750 million valuation for its conversational AI platform. The startup develops ultra-realistic voice AI assistants that handle millions of customer calls daily for banks, casinos, and hospitals. Led by Georgian, Hedosophia and Khosla Ventures, the round brings total funding past $200 million as the company aims to double revenue to over $40 million.

Startups2 sources

PolyAI Raises $86M at $750M Valuation to Scale Conversational AI for Enterprise Call Centers

Startups2 sources

OpenAI Hires Google Executive Albert Lee to Lead Corporate Development and Acquisitions Push

OpenAI has appointed Albert Lee, a veteran Google executive with over $50 billion in deal experience, to lead corporate development. The move signals an aggressive acquisition era as the AI company, valued at $500 billion, expands its leadership team and pursues strategic investments to compete with rivals like Google and Anthropic.

Business4 sources

OpenAI Hires Google Executive Albert Lee to Lead Corporate Development and Acquisitions Push

Business4 sources

Intel moves to acquire SambaNova for $1.6 billion as AI chip battle with Nvidia intensifies

Intel is in advanced acquisition discussions to buy AI chip startup SambaNova Systems for $1.6 billion including debt, marking a steep discount from its $5 billion valuation in 2021. The deal would strengthen Intel's position in AI inference solutions as it competes against Nvidia's market dominance in the AI hardware market.

Business7 sources

Intel moves to acquire SambaNova for $1.6 billion as AI chip battle with Nvidia intensifies

Business7 sources

Port Raises $100M at $800M Valuation to Transform Developer Portal into AI Agent Command Center

Israeli startup Port has raised $100 million Series C at an $800 million valuation to build an Agentic Engineering Platform. Led by General Atlantic, the funding will help Port transform its developer portal into a command center where engineers can orchestrate AI agents across the software development lifecycle, competing directly with Spotify's Backstage.

Startups2 sources

Port Raises $100M at $800M Valuation to Transform Developer Portal into AI Agent Command Center

Startups2 sources

Harness hits $5.5 billion valuation with $240 million raise to automate AI's after-code gap

AI DevOps platform Harness secured $240 million in Series E funding led by Goldman Sachs, reaching a $5.5 billion valuation. Founded by AppDynamics creator Jyoti Bansal, the company targets the after-code software development phase—testing, security, and deployment—that consumes 70% of engineering time but remains largely manual despite AI's acceleration of code production.

Startups4 sources

Harness hits $5.5 billion valuation with $240 million raise to automate AI's after-code gap

Startups4 sources

Cursor CEO explains how his AI coding assistant will compete with OpenAI and Anthropic

Anysphere CEO Michael Truell says his company has no plans for an IPO despite reaching $1 billion in annualized revenue. Speaking at Fortune's AI Brainstorm conference, Truell outlined how Cursor will compete against OpenAI and Anthropic by combining their intelligence with proprietary models while building comprehensive tools for development teams.

Technology2 sources

Cursor CEO explains how his AI coding assistant will compete with OpenAI and Anthropic

Technology2 sources

Oracle shares tumble as $15B AI spending increase raises questions about debt and efficiency

Oracle stock plunged 11% after the company announced a $15 billion increase in capital expenditure to $50 billion for AI data centers, despite reporting revenues below analyst expectations. The aggressive spending raised investor concerns about Oracle's mounting debt—now at $99.9 billion—and its ability to monetize massive contracts with OpenAI quickly enough to justify the investment.

Business21 sources

Oracle shares tumble as $15B AI spending increase raises questions about debt and efficiency

Business21 sources

Fal secures $140M Series D funding led by Sequoia, tripling valuation to $4.5 billion

Fal, a multimodal AI provider hosting image, video, and audio models for developers, raised $140 million in Series D funding led by Sequoia Capital. The round tripled the company's valuation to $4.5 billion just months after its previous raise. With revenue surpassing $200 million and a 300% growth in run rate since July, Fal's rapid ascent reflects strong investor appetite for AI infrastructure.

Startups3 sources

Fal secures $140M Series D funding led by Sequoia, tripling valuation to $4.5 billion

Startups3 sources

Unconventional AI raises $475M to build brain-inspired chips that solve AI's energy crisis

Former Databricks VP Naveen Rao has launched Unconventional AI with a massive $475 million seed round, backed by Jeff Bezos and top venture firms. The startup aims to build analog AI chips inspired by biological systems to tackle AI's growing energy problem. With AI demand set to outpace global energy capacity within 3-4 years, the company is exploring neuromorphic and analog computing approaches that could deliver 1,000 times better efficiency than current silicon.

Startups6 sources

Unconventional AI raises $475M to build brain-inspired chips that solve AI's energy crisis

Startups6 sources

SoftBank and Nvidia in talks to fund Skild AI at $14 billion, nearly tripling its valuation

SoftBank Group and Nvidia are negotiating to lead a $1 billion investment in Skild AI, valuing the robotics AI startup at $14 billion—nearly triple its May valuation. The company develops robot-agnostic foundation models that serve as universal software for robots, attracting attention as investor interest in robotics surges.

Startups6 sources

SoftBank and Nvidia in talks to fund Skild AI at $14 billion, nearly tripling its valuation

Startups6 sources

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