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James Dacombe's Olix AI Chip Startup Triples Valuation to $3.3bn in Six Months

James Dacombe's AI chip startup Olix raised $312mn from Fundomo, Arm, and Reed Hastings, tripling its valuation to $3.3bn in six months. The London-based firm bypasses supply chain bottlenecks with photonic interconnect technology, positioning itself as a specialized alternative to Nvidia in the booming AI infrastructure market.

Startups5 sources

James Dacombe's Olix AI Chip Startup Triples Valuation to $3.3bn in Six Months

Startups5 sources

DeepSeek Founder Liang Wenfeng Says No KPIs, No Overtime Built His $60 Billion AI Lab

DeepSeek founder Liang Wenfeng told staff the $60 billion Chinese AI startup operates without KPIs or overtime, letting researchers spend half their day on unstructured work. The revelation challenges Silicon Valley's embrace of China's grueling 996 work culture as the path to AI dominance.

Business2 sources

DeepSeek Founder Liang Wenfeng Says No KPIs, No Overtime Built His $60 Billion AI Lab

Business2 sources

Kioxia Reports 45-Fold Profit Surge Driven by AI Demand for NAND Flash Memory

Japanese chipmaker Kioxia posted a staggering 45-fold increase in quarterly net profit to $5.3 billion, driven by AI-driven demand for NAND flash memory chips. Despite missing analyst estimates, the company announced an $800 billion buyback and 3-for-1 stock split while navigating intense competition from Samsung Electronics and SK hynix.

Business3 sources

Kioxia Reports 45-Fold Profit Surge Driven by AI Demand for NAND Flash Memory

Business3 sources

Simile AI startup raises $200M at $2B valuation to simulate consumers with digital twins

Simile, a year-old AI startup, secured $200 million in Series B funding at a $2 billion valuation just five months after its $100 million Series A. The Palo Alto company creates AI agentic twins—synthetic users that simulate real consumers for market research. CVS Health, Deloitte, and Wealthfront are already using these AI-generated replicas to test products and predict consumer behavior.

Startups4 sources

Simile AI startup raises $200M at $2B valuation to simulate consumers with digital twins

Startups4 sources

ByteDance's $4B AI revenue leads China as it restructures Lark into Doubao chatbot division

ByteDance now generates $4bn annually from AI, the highest figure claimed by any Chinese company. To strengthen its position, the TikTok parent is folding its Lark workplace app into teams behind Doubao chatbot and Volcano Engine cloud business. The restructuring signals ByteDance's costly bet to lead China across every layer of AI, from frontier models to custom chips.

Business2 sources

ByteDance's $4B AI revenue leads China as it restructures Lark into Doubao chatbot division

Business2 sources

OpenAI reaches 1 billion users milestone, cuts GPT-5.6 prices by 80% to fight AI rivals

OpenAI announced ChatGPT has surpassed 1 billion active users, becoming one of the fastest apps in history to reach this scale in under four years. The milestone came seven months later than projected, as the company slashed GPT-5.6 Luna prices by 80% and Terra by 20% to combat intensifying competition from Google Gemini and Anthropic while facing a $38.5 billion net loss.

Business5 sources

OpenAI reaches 1 billion users milestone, cuts GPT-5.6 prices by 80% to fight AI rivals

Business5 sources

Eliyan raises $145M at $1B valuation to tackle AI chip data bottlenecks in data centers

Silicon Valley startup Eliyan has raised $145 million in Series C funding at a $1 billion valuation, backed by Cisco and Lumentum. The company develops electro-optical interconnects to solve a critical problem: AI chips can process data much faster than they can send or receive it, leaving expensive GPUs sitting idle 60-70% of the time.

Startups2 sources

Eliyan raises $145M at $1B valuation to tackle AI chip data bottlenecks in data centers

Startups2 sources

Moonshot AI Closes $3.5B Funding Round at $35B Valuation, Eyes $50B IPO After Kimi K3 Success

Moonshot AI secured $3.5 billion in funding at a $35 billion valuation, far exceeding its initial $1-2 billion target. The Beijing-based startup behind the Kimi K3 model is now pursuing additional funding at a $50 billion pre-money valuation ahead of a planned Hong Kong IPO later this year.

Startups4 sources

Moonshot AI Closes $3.5B Funding Round at $35B Valuation, Eyes $50B IPO After Kimi K3 Success

Startups4 sources

Andrew Ng launches LearnVector with $100 million to train workers as AI reshapes jobs

Andrew Ng, Coursera co-founder, unveiled LearnVector with $100 million backing to teach white-collar workers new skills to adapt as AI transforms professional work. The AI-powered ed tech startup will use AI agents as personal tutors to deliver adaptive courses, with first products launching early 2027.

Startups2 sources

Andrew Ng launches LearnVector with $100 million to train workers as AI reshapes jobs

Startups2 sources

AI Stock Sell-Off Hammers Chipmakers as South Korean Market Plunges 25% in Month

The South Korean stock market faced unprecedented turmoil as AI stock sell-off intensified, with trading halted after the Kospi plunged 8 percent. SK Hynix shares dropped 45 percent from June highs despite record profits, while Samsung Electronics fell over 9 percent, wiping $570 billion off market value and raising questions about the sustainability of AI spending.

Business18 sources

AI Stock Sell-Off Hammers Chipmakers as South Korean Market Plunges 25% in Month

Business18 sources

Apple's Record Quarter Overshadowed by AI-Driven Supply Constraints and Rising Memory Costs

Apple delivered its strongest June quarter ever with iPhone revenue hitting $54.25 billion, yet shares tumbled over 7% as supply constraints and soaring memory costs cast shadows over future growth. Tim Cook's final earnings call as CEO revealed a company caught between record demand and a memory shortage some call "Ramageddon."

Business11 sources

Apple's Record Quarter Overshadowed by AI-Driven Supply Constraints and Rising Memory Costs

Business11 sources

Steve Eisman Warns AI Investment Has Become 'One Dangerous Trade' After Selling Alphabet Stake

Steve Eisman, the Big Short investor, sold his longtime Alphabet stake and reduced AI exposure, warning that concentrated AI investment across stocks and bonds could trigger a significant market correction. With Alphabet raising capital expenditures to $205 billion and posting negative free cash flow, Eisman says investor expectations may be outpacing returns on massive AI infrastructure spending.

Business3 sources

Steve Eisman Warns AI Investment Has Become 'One Dangerous Trade' After Selling Alphabet Stake

Business3 sources

Multiverse Computing targets $570M Series C to shrink AI models and slash inference costs

Spanish AI startup Multiverse Computing has opened a $570M Series C funding round at a $1.7B valuation, betting that AI model compression will outpace the race for scale. The company's CompactifAI technology uses tensor networks from quantum physics to shrink large language models by up to 95% with minimal accuracy loss, targeting the growing inference cost burden facing enterprises.

Startups2 sources

Multiverse Computing targets $570M Series C to shrink AI models and slash inference costs

Startups2 sources

Moonshot AI Releases Kimi K3 Open-Weight Model with 2.8 Trillion Parameters

Chinese AI startup Moonshot AI released the full weights for Kimi K3, a 2.8 trillion parameter open-weight model that rivals GPT-5.6 Sol and Claude Fable 5. While developers can now download and modify the model, running it requires data-center-level infrastructure costing $550,000-$700,000. The release has sparked US policy debates and includes a custom license with revenue-based restrictions.

Technology7 sources

Moonshot AI Releases Kimi K3 Open-Weight Model with 2.8 Trillion Parameters

Technology7 sources

CXMT shares surge 466% in blockbuster $8.6 billion IPO as China's memory chipmaker rides AI boom

ChangXin Memory Technologies became mainland China's most valuable company after its shares rocketed over 466% on debut, raising $8.6 billion in the country's biggest IPO since 2010. The DRAM memory chipmaker's meteoric rise reflects surging AI-driven demand, but faces challenges from U.S. export restrictions and geopolitical tensions.

Business10 sources

CXMT shares surge 466% in blockbuster $8.6 billion IPO as China's memory chipmaker rides AI boom

Business10 sources

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