TL;DR

Apple eyes $10B+ AI acquisitions; Klarna targets $13–$14B U.S. IPO; Polymarket relaunches with 1789 Capital.

Highlights

• 1789 Capital (Trump Jr.) invests eight figures in Polymarket, now valued above $1B, as the prediction market relaunches in the U.S. and acquires a CFTC-licensed derivatives exchange 1.
• Pantera Capital aims to raise $1.25B to turn a Nasdaq-listed shell into “Solana Co.,” a public vehicle holding SOL tokens , offering regulated exposure to Solana 2.
• Klarna revives its U.S. IPO at a $13–$14B valuation—down from its 2021 peak—targeting a $1B raise 3.
• Apple is in early talks to acquire Mistral AI or Perplexity AI (valued $10B+), weighing buy vs. build for AI capabilities 4.
• xAI (Elon Musk) launches “Macrohard,” an AI-run software venture aiming to automate software production at scale 5.
• Supermicro and Lambda deploy Nvidia Blackwell servers for large-scale AI infrastructure, targeting enterprise and hyperscaler demand 6.
• Anthropic settles a major U.S. authors’ copyright lawsuit, removing a key legal risk for generative AI; similar cases against peers continue 7.
• OpenAI faces a wrongful-death lawsuit alleging ChatGPT-4o facilitated a teen’s suicide, raising new questions about AI liability 8.
• Leading VCs and tech execs (a16z, OpenAI, Perplexity, Meta, etc.) launch $100M+ super PACs to influence U.S. AI regulation 10.
• MetaMask adds Google /Apple social login for easier onboarding; Binance launches a keyless wallet, intensifying the push for mainstream Web3 adoption 11.
• IBM and AMD partner to develop quantum-centric supercomputers; AMD stock rises on AI accelerator demand 12.
• Pudgy Penguins CEO targets IPO by 2027 as the NFT brand expands into toys, games, and a memecoin 14.
• Gemini overtakes Coinbase in U.S. iOS finance app rankings after launching an XRP rewards card 15.
• Utah partners with TerraPower (Gates-backed) to scout advanced nuclear reactor sites, as data center energy demand rises and Google inks a Gen IV nuclear power deal 9.
• Hyperliquid exchange leads July crypto trading volume ($330.8B), shifting 99% of platform fees to token buybacks 13.

Commentary

Venture activity remains robust across AI and crypto, with capital targeting both infrastructure and regulatory alignment. The Polymarket and Pantera Capital moves signal renewed institutional interest in U.S.-compliant digital asset platforms. Trump Jr.’s involvement with Polymarket 1 and Pantera’s Solana Co. initiative 2 reflect a shift toward more regulated, public-facing vehicles for crypto exposure, likely to spur further late-stage rounds and public listings in the sector.

AI remains a focal point for both strategic investment and regulatory influence. Apple ’s preliminary talks to acquire Mistral or Perplexity (valued at $10B+) highlight the premium on differentiated AI assets 4, while xAI’s Macrohard project underscores the drive to automate software production 5. The Supermicro-Lambda-Nvidia 6 and IBM -AMD 12 partnerships reinforce that hardware and compute remain critical for AI scalability, with enterprise demand driving significant infrastructure investment.

Legal and regulatory developments are top of mind. Anthropic’s settlement with U.S. authors removes a material litigation risk for generative AI companies 7, potentially unlocking more aggressive product development and funding. However, OpenAI’s wrongful-death lawsuit is a reminder that liability and safety will remain key diligence items for investors 8. The launch of $100M+ super PACs by leading VCs and tech executives to shape AI regulation mirrors tactics from the crypto sector 10, reflecting the industry’s intent to proactively manage policy risk.

In fintech and digital assets, Klarna’s revised IPO valuation 3, Pudgy Penguins’ public listing ambitions 14, and Hyperliquid’s DeFi tokenomics 13 point to a more disciplined but open public market for venture-backed disruptors. User acquisition remains a battleground, with Gemini’s app store surge 15 and MetaMask’s onboarding improvements 11 highlighting the importance of user experience in driving adoption.

VCs should monitor the intersection of regulatory clarity, infrastructure scaling, and user-centric innovation across AI and crypto. Expect continued crossover between private and public markets, and a premium on startups that can demonstrate both compliance and defensibility.