TL;DR

OpenAI acquires io for $6.5B, launches $20B UAE AI campus; Anthropic releases new Claude models.

Highlights

• OpenAI acquires Jony Ive’s io for $6.5B in stock, targeting AI consumer hardware by 2026 1.
• OpenAI and G42 to build a $20B, 5GW “Stargate” AI campus in Abu Dhabi, expanding global compute capacity 3.
• JPMorgan to lend $7B+ for OpenAI’s Texas data center, with Microsoft , Oracle , and SoftBank backing 7.
• Anthropic launches Claude 4 Opus and Sonnet models, surpassing benchmarks; Google , GitHub , and Databricks integrate immediately 11.
• Airwallex raises $300M (Series F + secondary) at $6.2B valuation, backed by Visa Ventures , DST, and Square Peg 2.
• Hinge Health IPOs at $32/share, opens at $39.25 (+23%), but at $2.6B—down from $6.2B in 2021 4.
• MNTN raises $187M in NYSE IPO; shares surge over 60%, first US VC-backed tech IPO of the year 5.
• World Assets (Worldcoin) raises $135M from a16z and Bain Capital Crypto to expand biometric ID network; WLD token up 14% 6.
• Plasma Foundation secures Founders Fund and Tether backing to accelerate global stablecoin adoption 9.
• Kota, Irish HR/benefits tech, raises $14.5M Series A led by Eurazeo; gains central bank insurance intermediary license 10.
• Kraken to offer 24/7 tokenized trading of 50+ US stocks and ETFs on Solana to non-US clients, including Apple , Tesla , Nvidia , and SPDR S&P Emerging Markets ex-China ETF 12.
• Coinbase faces up to $400M compensation risk after insider data breach; $42.5M in BTC laundered via THORChain 13.

Commentary

OpenAI is driving capital and strategic focus into AI infrastructure and hardware, with its $6.5B io acquisition 1 and major data center projects in both Texas 7 and Abu Dhabi 3. The scale of these investments—backed by top-tier tech and financial partners—signals a shift toward integrated AI platforms and increased competition for compute resources. For VCs, this trend raises the bar for capital requirements and could prompt higher valuations for startups with differentiated hardware, design, or infrastructure capabilities 13.

Anthropic’s latest Claude models, immediately adopted by major enterprise platforms, reinforce the rapid consolidation around leading AI model providers. The quick integration by Google , GitHub , and Databricks suggests that enterprise adoption cycles are shortening, benefiting companies able to deliver measurable performance improvements 11. Investors should watch for startups leveraging these models to build vertical solutions, as the foundational model layer becomes increasingly competitive 11.

Public market sentiment is mixed: Hinge Health ’s IPO priced below its last private valuation despite a strong open 4, while MNTN’s adtech IPO outperformed, reflecting investor preference for clear growth and profitability 5. This underscores a more selective IPO market, favoring companies with strong fundamentals and proven demand 45.

In fintech and digital assets, large rounds for Airwallex 2, World Assets 6, and Plasma Foundation 9 highlight ongoing investor interest in cross-border payments, digital identity, and stablecoin infrastructure. Meanwhile, security incidents like Coinbase ’s breach remain a persistent risk, emphasizing the need for robust operational controls in crypto and fintech portfolios 13.

Deal flow remains active across AI, fintech, and digital assets, but diligence on operational resilience and business model sustainability is intensifying. VCs should focus on companies with clear ecosystem fit, regulatory readiness, and demonstrable traction 210.