From TechCrunch · 40 stories
New ETFs launched to exclude companies led by Elon Musk
Two new exchange-traded funds (ETFs) have been launched to exclude investments in companies associated with Elon Musk. The Nasdaq-100 Ex-Elon Enterprises ETF and S&P 500 Ex-Elon Enterprises ETF aim to provide returns while bypassing companies such as Tesla and SpaceX, responding to negative investor sentiment toward Musk.
Elon Musk praises Anthropic, reassures trust in AI partnership
Elon Musk praised Anthropic on X, expressing admiration for its AI models. Musk's reassurances aim to stabilize the relationship, especially after Anthropic's significant contract with SpaceX's xAI unit for computational resources worth up to $40 billion.
AI Infrastructure Spending Expected to Reach $1.5 Trillion by 2026
Sequoia's David Cahn estimates AI infrastructure spending will reach $1.5 trillion by 2026, requiring $3 trillion in revenue to justify investments. This projection highlights a significant gap as major AI companies struggle to meet revenue expectations based on current trends.
Charles Hudson highlights common startup investment mistakes and current fundraising challenges
Charles Hudson, founder of Precursor Ventures, discusses frequent mistakes made by startup founders when seeking investment. He emphasizes the need for realistic valuations, due diligence on investors, and understanding whether venture capital is suitable for their business model.
FanDuel sued for sending personalized video to bettor with gambling issues
FanDuel faces a lawsuit for allegedly deepening customer addictions by sending personalized athlete videos. VIP client Terry Thompson, who lost his home due to gambling, received a message from Bryce Harper meant to celebrate Thanksgiving.
Mercor in early talks for $20B valuation, plans acquisition of Deeptune
AI training startup Mercor is negotiating to secure funding at a $20 billion valuation, a significant increase from its prior $10 billion figure. This anticipated growth follows a notable rise in annualized revenue and the announcement of its acquisition of Deeptune, indicating recovery from earlier setbacks.
Gradium raises $100M seed funding round led by Nvidia for AI voice models
Gradium, a Paris-based voice AI startup, raised $100 million in a reopened seed round led by Nvidia. The funding will facilitate the opening of an office in the Bay Area to attract talent and compete within the prominent AI ecosystem.
Meta to begin production of new AI chips in September
Meta plans to start production of its latest AI-specific chips in September to reduce GPU costs amid a component shortage. These chips, developed under the Meta Training and Inference Accelerator (MTIA) program, will help the company optimize its AI workloads and deployments.
Micron's Market Valuation Surges Amid AI-Driven Memory Chip Demand
Micron's stock value has risen over 236% within a month, temporarily surpassing the market valuations of Meta and Tesla, driven by high demand for memory chips crucial for AI infrastructure. As demand for memory components intensifies, Micron's strengthened market position contrasts with Nvidia's stock decline due to shifts in investor focus.
Ollama raises $65M in Series B, reaches nearly 9M monthly users
Ollama has secured $65 million in Series B funding led by Theory Ventures, bringing total funding to $88 million. The AI tool, aimed at simplifying the use of open-weight AI models for developers, has rapidly grown to 8.9 million monthly users and is utilized by 85% of Fortune 500 companies.
Nandan Nilekani steps down from GP role at Fundamentum amid $200M fund launch
Nandan Nilekani will cease being a general partner at Fundamentum Partnership as it launches a $200 million third fund. Nilekani will remain an anchor investor and advisor, continuing to mentor portfolio companies.
Truecaller confronts TRAI over caller ID app anti-spam regulations
Truecaller has publicly criticized India's telecom regulator TRAI for anti-spam rules limiting the display of community-reported spam information for commercial number series. The CEO claims this has diminished consumer trust, as users frequently block calls from designated series, reflecting the effectiveness of current measures against spam in the country's vast telecom market.
Lovable in talks to raise $300M, aiming for $13.2B valuation
Lovable is negotiating to raise $300 million, which would double its valuation to $13.2 billion. This growth reflects the increasing demand for its vibe-coding technology in the software development sector.
Google's SynthID Debunks AI-generated Hoax Image of Mitch McConnell
Google's SynthID system was used to authenticate an image of Mitch McConnell, revealing it as a deepfake. This instance underscores the effectiveness of watermark technology in combating disinformation.
QuantumDiamonds secures EU funding to enhance semiconductor testing equipment
QuantumDiamonds received €76 million from the EU to build a semiconductor testing facility in Munich. The funding will expedite chip inspection processes, significantly reducing inspection times while maintaining production flow.
Manna Aero to Launch U.S. Operations for Drone Delivery in Oklahoma
Manna Aero plans to expand its drone delivery operations into the U.S. by establishing a manufacturing center in Tulsa, Oklahoma. The startup aims to employ approximately 1,000 workers and compete with major players like Amazon and Zipline by 2027.
Roost app allows slow messaging, reaching 300,000 users in weeks
Roost, a new messaging app, allows users to send messages at the speed of birds, fostering intentional communication. The app's user base grew significantly after a viral post, highlighting a trend toward slower digital interactions.
General Intuition Raises $320M to Use Video Game Data for AI and Robotics
General Intuition, a startup valued at $2.3 billion, raised $320 million to use video game data for training AI models. This approach could address current AI limitations in understanding physical realities and impact robotics by reducing reliance on real-world data.
Paradigm raises $1.2B for investments in crypto, AI, and robotics
Crypto VC firm Paradigm has raised $1.2 billion for its third fund, expanding investment focus to AI and robotics while continuing crypto investments. This reflects a strategic shift as the firm adapts to market changes, highlighting the growing interest in AI technologies.
AI startups report accelerating revenue growth milestones
Several AI startups are experiencing rapid revenue growth, with some doubling their revenue in significantly shorter timeframes. Notable companies like Mercor, Anthropic, and Sierra highlighted this fast growth, reflecting a trend in the AI industry that may influence investment and market strategies.
Vermilion Cliffs Ventures closes $25M Fund II for AI and security startups
Vermilion Cliffs Ventures announced the closing of its second fund at $25 million, aimed at supporting early-stage startups in AI infrastructure, security, and developer tools. Founded by Ashley Smith, the firm plans to invest in at least 25 companies, leveraging her experience to assist founders with go-to-market strategies.
Venus Aerospace secures $90M Series B for advanced rocket engine development
Venus Aerospace has raised $90 million in Series B funding to develop its Rotating Detonation Rocket Engine (RDRE). The company aims to transition from hypersonic passenger jets to military applications, reflecting growing interest from defense contractors after the engine's successful tests.
WeWard introduces 'Walking Mode' to limit app access until step goals are met
WeWard has launched 'Walking Mode,' restricting access to selected apps until users meet their step goals. This feature aims to encourage physical activity and reduce screen time, addressing a growing demand for healthier digital habits.
Kevin Weil joins Stoke Space board to aid in rocket development
Kevin Weil has joined the board of Stoke Space, a Seattle startup developing reusable rockets. His expertise and extensive network may help scale the startup, which is aiming to compete with companies like SpaceX.
ZML launches free software for AI inference across multiple chip platforms
ZML has released a free inference-performance software, ZML/LLMD, that supports various AI chips including Nvidia, AMD, and Google TPU. This software aims to optimize the execution of large language models and reduce vendor lock-in, addressing performance disparities in AI chip use and potentially disrupting the market.
Microsoft reduces reliance on OpenAI and Anthropic for AI models
Microsoft is increasingly deploying its own AI models instead of relying on software from OpenAI and Anthropic. This strategy aligns with broader industry trends of cost-cutting amid rising AI service expenses.
Figma acquires team behind vibe-coding platform Bud
Figma has acquired Bud, a platform for vibe-coding and AI agents, to enhance its design capabilities by integrating coding and prototyping. The acquisition will lead to the shutdown of Bud, compelling users to migrate their projects by July 18.
Chemistry Ventures seeking $500M for second fund, already oversubscribed
Chemistry Ventures is raising $500 million for its second fund, as reported in an SEC filing. The firm, focused on early-stage startups in developer tools, fintech, and infrastructure, is already oversubscribed, indicating strong interest from investors.
Norm raises $120M, achieving unicorn status in AI legal services
AI law startup Norm has secured $120 million in a Series C funding round, reaching a valuation of $1.2 billion. The company's AI-native law firm offers legal services to enterprises using AI while employing human attorneys for oversight.
Bidbus raises $15M to create competitive marketplace for used car sales
Bidbus has raised $15 million in a Series A funding round to expand its digital marketplace for used cars. The platform allows multiple dealerships to bid on cars, potentially earning sellers $2,000 to $3,000 more than traditional services like Carvana.
U.S. Army websites hacked, defaced with political messages against Trump
The U.S. Army has repaired two websites after they were defaced with messages criticising President Trump and promoting Kurdish independence. These incidents highlight ongoing security vulnerabilities in government-operated systems amid increased hacktivist activities.
Over 100 US autonomous ground vehicles deployed in Ukraine conflict
Forterra has deployed over 100 self-driving ATVs in Ukraine, marking a significant use of autonomous ground vehicles in combat. These vehicles support logistics and supply movement amid escalating combat activity, adapting to the needs of Ukrainian forces.
Vercel CEO discusses AI deployment and new data control frameworks
Vercel's CEO Guillermo Rauch highlights the evolution of agent technology, emphasizing the importance of securely managing data access in AI applications. The company introduced frameworks like Eve and Vercel Sandbox to improve security and control in AI deployments, addressing challenges faced in production environments.
Bookshop.org confirms Kobo e-reader support will arrive later this year
Bookshop.org will launch support for Kobo e-readers later this year, enabling users to buy e-books from independent bookstores. This update follows previous delays and challenges in finalizing business agreements and engineering aspects of the integration.
Apple restores card payments in India for Apple Account purchases after four years
Apple has reintroduced card payments for Apple Account purchases in India, allowing Visa and Mastercard users to pay for subscriptions like iCloud+ and Apple Music. This move comes after a four-year suspension due to regulatory changes in India's digital payments landscape, adapting to local requirements for recurring payments.
Station F's F/ai accelerator to launch second cohort for AI startups
Station F will initiate its second F/ai accelerator cohort in September, focusing on helping AI startups achieve revenue quickly. This program has notable backing from leading tech companies, enhancing connections for startups in Europe.
Uber pauses expansion plans in Europe, focusing on existing markets
Uber has put on hold its plans to launch services in five new European markets by 2026, including Austria, Norway, and Greece. The decision aims to maintain momentum from successful launches in Finland and Denmark and address antitrust concerns related to its ongoing bid for Delivery Hero.
Amazon to stop accepting new customers for Mechanical Turk by July 2026
Amazon has announced that its Mechanical Turk crowdsourcing service will close to new customers on July 30, 2026. Existing customers may continue to use the service, but no new features will be introduced, indicating a decline in Amazon's focus on the platform.
Bending Spoons Debuts on Nasdaq with Over $25 Billion Valuation
Bending Spoons, the Milan-based company known for acquiring aging tech brands, went public on Nasdaq, reaching a market cap of over $25 billion. The company's strategy involves acquiring, revitalizing, and holding well-known brands like AOL and Vimeo, leveraging tech and AI for growth. This IPO signifies strong investor interest in its unique operational approach despite concerns in the SaaS sector.
2023 Sees Nearly 90 New Unicorn Startups Amid AI Investment Surge
In 2023, nearly 90 new startups achieved unicorn status, driven largely by AI investments. Notable examples include AI workspace provider MainFunc and cybersecurity startup Socket, among others in diverse sectors such as healthcare and crypto.