☕ Nvidia has discovered a new $200B AI market & SpaceX to buy Cursor for $60 billion.
Musk's xAI burned $6.4B last year & Anthropic says it’s about to have its first profitable quarter.
Breaking News
OpenAI claims its latest reasoning model independently solved an 80-year-old math problem first proposed by mathematician Paul Erdős in 1946. Researchers say the result could mark an important shift where AI moves beyond memorizing knowledge and begins contributing genuinely new discoveries across fields like science, engineering, and medicine.
NVIDIA says it has uncovered a new $200 billion AI market centered around CPUs built for AI agents and robotics, with Jensen Huang arguing future autonomous systems will need dedicated “brains” beyond GPUs. The shift suggests the next AI infrastructure battle may not just be about training giant models, but about powering billions of AI agents operating continuously in the real world.
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DAILY PICKS
🗞️ What else is brewing
Excel Template: Early Stage Startup Financial Model For Fundraising. (Link)
What investors ask and how to answer : A practical Q&A prep kit for founders. (Link)
How to raise money with cold outreach: tips from a founder who raised $1 billion. (Link)
How founders can build AI agents with OpenClaw: a step-by-step guide. (Link)
What founders actually pay themselves in 2026? (Link)
How to design a seed pitch deck investors actually read (analysis of 50+ Y-Combinator decks that raised $450M+). (Link)
The uncomfortable truth about OpenAI’s moat. (Link)
Where AI seed investors are most likely to find outliers. (Link)
STARTUPS RAISING MILLIONS
💰 Startup Funding Updates
PRE-SEED
Avian, a Zurich-based industrial AI startup, raised $2.6M in Pre-Seed funding. The round was led by Founderful.
StitcherAI, a Seattle-based IT finance intelligence platform, launched with $3M in Pre-Seed funding. The round was led by Founders Co-op with participation from Sunshine Lake VC, Ascend, and Plug & Play Ventures.
ProEncia Biotechnology, a Minneapolis-based periodontal care company, raised an undisclosed Pre-Seed round. Backers were not disclosed.
SEED
Avian, a Zurich-based industrial AI startup, raised $2.6M in Pre-Seed funding. The round was led by Founderful.
StitcherAI, a Seattle-based IT finance intelligence platform, launched with $3M in Pre-Seed funding. The round was led by Founders Co-op with participation from Sunshine Lake VC, Ascend, and Plug & Play Ventures.
ProEncia Biotechnology, a Minneapolis-based periodontal care company, raised an undisclosed Pre-Seed round. Backers were not disclosed.
GROWTH
Oorja Bio, a Houston-based clinical-stage biopharmaceutical company, raised $30M in Series A funding. The round was led by Westlake BioPartners.
Decart, a San Francisco-based AI infrastructure and real-time video models company, raised $300M in funding. The round was led by Radical Ventures, with participation from NVIDIA, Adobe Ventures, Sequoia Capital, and Benchmark.
Alacriti, a New Jersey-based payments fintech company, received a strategic growth equity investment from Sageview Capital.
Infrawatch, a London-based internet infrastructure intelligence platform, raised $3M in funding. The round was co-led by Outward VC and TriplePoint Ventures.
CircuitHub, a Cambridge-based electronics production company, raised $28M in funding. The round was led by Plural.
Findd, a Provo-based AI-native workforce management platform, raised $21M in funding. The round was led by Unbundled Capital.
Better Futures, a Dublin-based AI startup for engineering documentation automation, raised €600K in funding backed by Enterprise Ireland and angel investors.
Rightbrain AI, a UK-based no-code AI deployment platform, raised £3M in funding. The round was led by PXN Ventures.
Commure, a Mountain View-based healthcare AI platform, raised $70M in funding at a $7B valuation. The round was led by General Catalyst with participation from Sequoia Capital.
Primer, a London-based fintech company, raised $100M in Series C funding. The round was led by Sofina with participation from Accel, ICONIQ, Tencent, and Peak XV.
Ocean, a NYC and Tel Aviv-based agentic email security platform, launched from stealth with $28M in total funding. The round was led by Lightspeed Venture Partners.
Checker, a NYC-based stablecoin and digital asset infrastructure network, raised $8M in funding. The round was led by Galaxy Ventures, Al Mada Ventures, and Framework Ventures.
RemotePass, a London-based global payroll and employment platform, raised $17.4M in Series B funding. The round was led by EBRD Venture Capital.
NEW VCs IN THE MARKET
🏦 Venture Capital Updates.
Lauxera Capital Partners, a Paris, France- and San Francisco, CA-based growth-buyout and growth equity firm focused on Healthtech companies, closed Lauxera Growth II, at €520m. Backers included both returning and new Limited Partners. The fund, classified as an Article 8 fund under SFDR, plans to deploy capital across 12 to 15 companies, with individual investments of €20 to €50m focused on US and global market expansion.
Mouro Capital, a Madrid, Spain- London, UK- and San Francisco, CA-based venture capital firm, has secured $400m from Banco Santander for the first close of its third fund. Led by General Partners Manuel Silva Martínez and Christopher Gottschalk, Mouro Capital is an independently managed venture capital firm with a longstanding focus exploring the intersection of financial services and technology.
Veriten, a Houston, TX-based research, strategy and investment firm, held the initial close of its second flagship energy venture fund, at over $105m. LPs include Halliburton Company, Phillips 66 Company, and CIBC, among others.
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KEY STORIES IN TECH
📜 Latest In Tech
SpaceX to buy Cursor for $60 billion
SpaceX plans to close its $60 billion purchase of AI coding startup Cursor about 30 days after going public, putting the deal on track for July if its IPO lists shares on June 12 as expected.
Under the April agreement, SpaceX gained the right to buy Cursor later this year or pay a $10 billion cash breakup fee, and the acquisition will likely still need regulatory review before closing.
Cursor, which helps programmers write and debug code, released its Composer 2.5 model on Monday, trained partly on xAI’s Colossus 2 data center, which CEO Michael Truell called the start of their work with SpaceX.
Google Search as you know it is over
Google is overhauling Search with an AI-powered “intelligent search box” that the company calls the biggest change to its web entry point since the search box first appeared more than 25 years ago.
The new box expands to fit longer, conversational queries and adds AI-powered query suggestions, while AI Overviews, now at 2.5 billion monthly users, will let people ask follow-up questions in AI Mode.
Starting this summer, Search results will include generative UI with custom widgets built by Gemini Flash 3.5, plus information agents and mini-app building through Antigravity, rolling out first to Google AI Pro and Ultra subscribers.
xAI burned $6.4B last year as SpaceX doubles down on Grok and AI infrastructure
xAI lost $6.4 billion in 2025 on $3.2 billion revenue, as Elon Musk aggressively scaled Grok, data centers, and AI infrastructure ahead of SpaceX’s blockbuster IPO.
SpaceX’s filing reveals plans to expand Grok to “multiple trillions of parameters,” while Colossus and Colossus II already provide nearly 1 gigawatt of AI compute power for training and inference.
AI infrastructure spending is accelerating rapidly, with xAI spending $7.7 billion in Q1 2026 alone, while Musk also targets orbital AI data centers starting in 2028 to reduce long-term compute costs.
Anthropic says it’s about to have its first profitable quarter
Anthropic reportedly told investors it expects quarterly revenue to more than double to $10.9 billion, while achieving its first-ever operating profit this quarter.
The growth is being driven by rising adoption of Claude among professionals, alongside new enterprise products for small businesses and legal firms expanding Anthropic’s customer base.
Despite the milestone, Anthropic may not stay profitable all year because of massive AI compute spending, as competition with OpenAI continues to intensify ahead of potential IPO plans.
xAI is buying $2.8B more gas turbines despite lawsuits over pollution
xAI plans to spend $2.8 billion on more power turbines for AI data centers, including $2 billion specifically for mobile gas turbines used at its Memphis facility.
The company is already facing lawsuits from the NAACP over alleged illegal turbine operations, with regulators claiming the generators violate federal air pollution laws and worsen local smog levels.
SpaceX’s IPO filing admits restrictions on turbine usage could hurt xAI’s business, showing how critical massive energy infrastructure has become for training Grok and future AI models.
OpenAI barrels toward IPO that may happen in September
OpenAI is reportedly preparing for a blockbuster IPO as early as September, with Goldman Sachs and Morgan Stanley helping the company confidentially file paperwork soon.
The IPO push comes immediately after Elon Musk lost his lawsuit against OpenAI, removing a major legal threat tied to the company’s structure and future plans.
The public market battle between OpenAI and SpaceX could soon intensify, as both companies are expected to pursue some of the biggest tech IPOs in history.
Anthropic will pay xAI $1.25B per month for compute
Anthropic has agreed to pay xAI $1.25 billion per month for AI compute capacity, potentially generating more than $40 billion for xAI through 2029.
The deal gives Anthropic access to the entire 300-megawatt output of xAI’s Colossus 1 data center, highlighting how compute infrastructure is becoming one of the most valuable assets in AI.
SpaceX’s filing suggests xAI is monetizing unused server capacity as Grok usage slows, creating a hybrid “neocloud” model where AI labs also act as compute providers to rivals.
LAST COFFEE SIP
☕ Other News
Trump Mobile reportedly exposed customer personal information online
Trump Mobile customers say their mailing addresses and email data were exposed online after security researchers discovered an unsecured database tied to the service.
YouTubers Coffeezilla and penguinz0 said they were among affected customers after ordering the T1 smartphone, claiming researchers could easily access customer records without authorization.
The incident adds to growing criticism around Trump Mobile’s rollout, which has already faced failed orders, incorrect charges, and questions about whether the “Made in the USA” phone is simply a rebranded device.
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