TL;DR

Chime files for Nasdaq IPO; OpenAI restructures as PBC; Owner raises $120M at $1B valuation.

Highlights

• Chime files for Nasdaq IPO (CHYM ), reporting $12.4M Q1 net income on $518.7M revenue (+32% YoY), with 8.6M active users 1.
• Owner, a restaurant tech startup, raises $120M Series C at $1B valuation, $40M ARR, 10% monthly growth 2.
• OpenAI restructures for-profit arm as a public benefit corporation; Microsoft and SoftBank's $20B investment terms under review 3.
• SoftBank posts ¥1.15T annual profit, driven by AI and OpenAI investments, despite Vision Fund's full-year loss 4.
• Animoca Brands plans NYSE listing, citing U.S. crypto-friendly regulatory shift 6.
• Robinhood to acquire WonderFi (C$250M) to expand Canadian crypto presence; follows Bitstamp acquisition 7.
• Apple partners with Synchron to develop brain-computer interface for iPhone and Vision Pro, targeting accessibility use cases 8.
• AWS and Humain announce $5B+ investment to establish an AI Zone in Saudi Arabia, supporting AI startups and infrastructure 9.
• Ex-CIA investor Eric Slesinger launches $22M VC fund for early-stage European defense tech startups 10.
• Arbitrum launches $10M gaming fund (first tranche of $200M) to back blockchain gaming projects and infrastructure (Arbitrum - United States Dollar ) 11.
• VanEck launches $VBILL, a tokenized U.S. Treasury fund, on multiple blockchains, offering 24/7 liquidity to qualified investors 13.
• Basic Capital, backed by Lux, Ackman, and Kravis, introduces 4x leverage 401(k) product with 6.25% interest and layered fees 14.
• Yuga Labs transfers CryptoPunks IP to nonprofit Node Foundation; original creators join as advisors 15.
• Sonic Labs (ex-Fantom) raises $10M led by Galaxy for $S token expansion in U.S. DeFi market 12.
• Somite AI raises $47M Series A (Khosla-led) for AI-powered cell therapy platform targeting scalable regenerative medicine 5.

Commentary

Chime’s IPO filing, with strong YoY revenue growth and positive net income, signals renewed confidence in fintech exits and could prompt other late-stage fintechs to accelerate public market plans (CHYM ) 1. Owner’s rapid $120M Series C at a $1B valuation—driven by solid ARR and double-digit monthly growth—demonstrates sustained investor appetite for vertical SaaS and AI-enabled platforms, particularly those serving fragmented SMB markets 2.

AI remains central to both VC and strategic capital flows. OpenAI’s restructuring as a public benefit corporation introduces new governance dynamics and has direct implications for major partners like Microsoft and SoftBank, potentially affecting future investment terms and exit timing 3. SoftBank’s return to profitability, attributed largely to AI and OpenAI exposure, reinforces the sector’s role in driving portfolio performance, even as Vision Fund marks down some holdings 4.

Crypto and digital asset infrastructure continue to attract institutional and strategic capital. Animoca Brands’ planned NYSE listing and Robinhood’s acquisition of WonderFi highlight renewed cross-border activity and regulatory tailwinds in North America 67. VanEck’s on-chain U.S. Treasury fund and Arbitrum’s gaming initiative (Arbitrum - United States Dollar ) underscore ongoing efforts to bridge traditional finance, DeFi, and Web3 gaming 1311.

Frontier and defense tech are also drawing targeted VC attention. Slesinger’s new European defense fund and Apple’s partnership with Synchron for brain-computer interfaces show that investors are seeking differentiated bets in sectors shaped by geopolitical and demographic trends 108. Meanwhile, Somite AI’s large Series A in TechBio and Sonic Labs’ DeFi expansion illustrate the breadth of innovation attracting early-stage capital 512.

Deal velocity remains high across growth and early-stage rounds, especially for companies with clear regulatory paths, strong unit economics, or differentiated technology 14. VCs should closely monitor IPO market health, evolving AI partnership structures, and the impact of U.S. crypto policy on cross-border listings and M&A 36.