TL;DR

Meta offers $100M+ for AI talent; Apple weighs $14B Perplexity buy; Harvey raises $300M Series E.

Highlights

• Meta is offering $100M+ compensation packages and has hired Safe Superintelligence CEO Daniel Gross to lead a new "Superintelligence" lab after disappointing AI model results; this follows its $14.3B investment in Scale AI 19.
• Apple is internally considering a $14B+ acquisition of AI search startup Perplexity, its largest potential deal, as it explores alternatives to Google search amid antitrust scrutiny 1.
• Legal AI startup Harvey raised $300M Series E led by Kleiner Perkins and Coatue at a $5B valuation, now serving 337 clients and partnering with LexisNexis 2 (LexisNexis is part of RELX PLC ).
• Snowcap Compute raised $23M seed led by Playground Ventures to develop superconducting AI chips; former Intel CEO Pat Gelsinger joined the board 5.
• ProCap, led by Anthony Pompliano, is merging with a Nasdaq SPAC at a $1B valuation to create a public Bitcoin-treasury company, having raised $750M 3.
• Ex-Coral Capital executives are raising $100M to create a public vehicle holding Binance’s BNB token, giving public investors direct BNB exposure 11.
• Circle stock is up 850% since IPO, with market cap matching USDC supply, as the Senate advances stablecoin regulation and Fiserv announces a Circle partnership 14.
• OKX, after settling $505M with the DOJ, is considering a U.S. IPO, joining other crypto firms seeking listings amid improving regulatory clarity 6.
• The Federal Reserve will no longer consider “reputational risk” in bank exams, easing access to banking for crypto and other regulated sectors 12.
• Veda Labs ($18M, CoinFund) and GTE ($15M, Paradigm) closed DeFi rounds, both reporting strong user and TVL growth 10 (Coinbase , Aave , Ether.fi , Morpho , Pendle ).
• Revolut CEO could earn a multibillion-dollar payout if valuation hits $150B; company recently doubled profits, gained a UK banking license, and is expanding 7 (incentive compared to Tesla ).
• Apple is negotiating last-minute EU App Store concessions to avoid DMA fines, potentially easing restrictions on alternative payments 15.

Commentary

AI deal flow and competition for technical talent are intensifying at both the corporate and venture level. Meta ’s $100M+ offers and its hiring of Daniel Gross highlight the premium on AI leadership, especially as Big Tech seeks to close capability gaps after underwhelming model performance 19. Apple ’s internal review of a $14B+ Perplexity acquisition signals continued strategic M&A interest in AI search, with antitrust dynamics accelerating the need for in-house alternatives 1. These moves, alongside Harvey’s $300M Series E 2 and Snowcap Compute’s deep-tech seed round with Intel CEO Pat Gelsinger joining the board 5, underscore that both late- and early-stage AI startups with real IP or enterprise traction are commanding premium terms and rapid investor interest.

Crypto and DeFi capital formation remains robust, with public market strategies gaining traction. ProCap’s $1B SPAC merger 3 and the new $100M BNB vehicle 11 mirror institutional demand for direct digital asset exposure, while Circle’s post-IPO surge and the GENIUS Act’s Senate progress further validate regulatory momentum 14. The Fed’s removal of “reputational risk” from bank exams is a concrete regulatory shift, likely to ease banking access for crypto startups and support further venture-backed innovation in the sector 12. OKX’s potential U.S. IPO 6 and strong DeFi rounds for Veda Labs and GTE 10 (Coinbase , Aave , Ether.fi , Morpho , Pendle ) reflect improved exit options and continued appetite for infrastructure plays.

Fintech and infrastructure stories remain relevant for growth investors. Revolut’s performance-based CEO package is tied to ambitious valuation targets, reflecting investor confidence after strong profit growth and a UK banking license win 7. Apple ’s ongoing EU negotiations over App Store rules could lower platform barriers for app developers and fintechs targeting European markets 15. Snowcap Compute’s superconducting chip raise, with Intel CEO Pat Gelsinger joining the board, points to renewed interest in hardware innovation for AI workloads 5.

Overall, VC investors should expect continued upward pressure on AI deal sizes and valuations, a more favorable regulatory environment for crypto, and increased competition for differentiated fintech and infrastructure assets. The landscape is shifting toward larger late-stage rounds, more strategic M&A, and improved public market exits across multiple sectors.