TL;DR

Hedra raises $32M for AI video; Salesforce acquires Convergence; CoreWeave posts 420% growth, $23B AI capex.

Highlights

• Hedra raised $32M Series A led by a16z for its AI video generation platform; Amazon also backs 1.
• Salesforce, Inc. acquired UK-based Convergence to bolster its AI agent platform and introduced usage-based AI pricing 2.
• CoreWeave reported 420% YoY revenue growth post-IPO, plans $23B AI capex for 2025, and acquired Weights & Biases 3.
• Tencent hired the WizardLM team, launched new AI models, and committed $12.5B to AI capex, leveraging WeChat and a chip stockpile 4.
• Google led US AI patent filings (140 agentic AI patents in 15 months), outpacing IBM and Nvidia 13.
• Boomi launched Agentstudio for AI agent orchestration, partnered with Amazon.Com Inc , and acquired Thru 10.
• Nous Research launched Psyche, a decentralized, Solana - United States Dollar -coordinated network to train a 40B-parameter open-source LLM 12.
• Wave Ventures closed a €7M Gen Z-focused fund to back early-stage Nordic startups, tripling its previous fund size 5.
• Jiangsu Hengrui Pharmaceuticals filed for a $1.3B Hong Kong IPO, backed by Hillhouse Capital 6.
• Starbucks is considering a multi-billion-dollar stake sale in its China business amid local competition 7.
• Dick’s Sporting Goods is in talks to acquire Foot Locker for $2.3B, consolidating US sporting-goods retail 9.
• SEC is probing Coinbase Global, Inc. Class A Common Stock for potentially inflating user numbers; shares fell 8% on the news 14.
• Hedge funds including Bridgewater, Baupost, and Tiger Global rotated into tech (Microsoft, Nvidia, Reddit), Chinese equities, and gold 15.

Commentary

AI infrastructure, agent platforms, and orchestration remain core investment themes, with both venture-backed startups and incumbents accelerating activity. Hedra’s $32M Series A, led by a16z and joined by Amazon.Com Inc , signals ongoing investor appetite for differentiated AI content generation platforms, especially those with rapid user adoption and enterprise interest 1. Salesforce, Inc. ’s acquisition of Convergence and its shift to usage-based AI pricing reflect a broader move by large SaaS players to integrate advanced agentic capabilities and align monetization with AI-driven workflows 2.

CoreWeave’s post-IPO earnings highlight the capital intensity of AI infrastructure, with $23B in planned capex and a major acquisition (Weights & Biases) to strengthen its offering 3. While revenue growth is strong, share volatility and mixed analyst sentiment underscore the need for disciplined scaling and careful management of debt and equity dilution—key considerations for late-stage investors and crossover funds 3.

Tencent’s recruitment of the WizardLM team, launch of new models, and $12.5B AI capex commitment reinforce the strategic importance of proprietary AI talent and infrastructure, particularly in the context of US-China tech tensions and supply chain constraints 4. Google’s leadership in agentic AI patent filings and Boomi’s enterprise AI agent deployments further illustrate the rapid pace of technical innovation and the rising bar for defensibility in the AI sector 1013. Open-source and decentralized AI efforts, such as Nous Research’s Psyche, may create new infrastructure opportunities but will compete with well-capitalized incumbents 12.

Outside AI, Wave Ventures’ €7M Gen Z-focused fund close highlights the continued lowering of barriers for new founders in the Nordics, driven by AI and no-code tools 5. The Jiangsu Hengrui IPO and Starbucks’ China stake review point to ongoing capital market activity and strategic repositioning in Asia 67. The Dick’s/Foot Locker talks signal renewed interest in retail consolidation, though regulatory scrutiny remains a factor 9. Hedge fund portfolio shifts toward tech, China, and gold reflect a cautious but opportunistic approach amid public market volatility and regulatory developments, such as the SEC’s probe into Coinbase Global, Inc. Class A Common Stock 1415.