Funding
7 items across 2 editions · appeared in the last 2 editions in a row. First seen Fri 11 Sep, last seen Sat 12 Sep.
- The Globe and Mail, citing four sources, reports Cohere is in advanced talks to raise between US$2-billion and US$3-billion at a US$20-billion valuation, including financing from the Canadian government and existing backers, with the German government also in talks to participate.
- That compares with Cohere's roughly US$7-billion valuation in September 2025. The paper notes Mistral's €3-billion raise at a €21-billion valuation, OpenAI at US$852-billion in March 2026 and Anthropic at US$965-billion in May 2026.
- The round would be the largest on record by a private Canadian startup. The Globe and Mail says it could close as early as next week but that timing could slip.
- Cohere has not confirmed the round and the reporting rests on unnamed sources; no term sheet or filing has been made public.
- Business Insider reported on 11 September that Discovery Loop is seeking funding at a valuation of roughly $50 billion, up from the approximately $10 billion valuation at which it was seeking $1 billion just weeks earlier.
- The company was founded by former Google chief scientist Jeff Dean with Sanjay Ghemawat, Quoc Le and Oriol Vinyals, and says it aims to "use AI to accelerate scientific and engineering research through the parallel execution of thousands of experiments".
- Its initial funding was led by Radical Ventures and Khosla Ventures with Lightspeed, Kleiner Perkins and Doerr Capital participating; Alphabet is a founding investor and cloud partner.
- A Discovery Loop spokesperson declined to comment and Dean did not respond. There is no confirmation the financing will close at that valuation, and the company has no disclosed commercial product.
- Reuters reported on 11 September at 8:46 pm that Nvidia is in talks to invest up to $10 billion as an anchor investor in Anthropic's IPO, which is seeking to raise up to $100 billion at a valuation of around $2 trillion, with completion expected before the US midterm elections in November.
- For comparison, Reuters cites Anthropic's May round of $65 billion raised at a $965 billion post-money valuation, and an annualised revenue run rate that surpassed $65 billion by the end of July, up from roughly $9 billion at the end of 2025.
- The report notes Nvidia said in November 2025 it would invest up to $10 billion in Anthropic under a broader partnership including a $30 billion Azure computing commitment, and that Anthropic committed more than $100 billion over a decade to AWS in April.
- Reuters says "The plans remain under negotiation and could change". Both companies declined to comment or did not respond, and no filing has been made. This is a Reuters exclusive; other outlets are aggregating it.
- TechCrunch reported on 11 September at 9:46 am PDT that the UK-based AI data centre company Nscale has appointed Fidji Simo to its board, and that per Bloomberg it is pursuing up to $3.5 billion in pre-IPO financing ahead of a planned autumn listing.
- Simo left OpenAI in July 2026 as CEO of AGI deployment — described by TechCrunch as "essentially the No. 2 executive at the AI lab" — citing health reasons, and continues to advise part-time. She was previously chair and CEO of Instacart through its 2023 IPO and spent over a decade at Meta.
- She joins a board that includes Sheryl Sandberg, Susan Decker and Nick Clegg; the CEO is Josh Payne. The company was founded two years ago.
- The $3.5 billion figure is attributed to Bloomberg rather than to Nscale, and no IPO filing or date has been confirmed.
- TechCrunch reported on 11 September at 3:58 pm PDT that Mecka AI is nearing a Sequoia Capital-led round at a valuation of about $500 million; the round size is not disclosed and "terms of the deal are not final and could still change".
- That follows a $60 million Series A announced three months earlier, led by Framework Ventures with Menlo Ventures, SV Angel and Kindred Ventures.
- Mecka pays people to record themselves performing everyday tasks using body sensors and smartphones, and sells that motion data to train humanoid robots. It was founded in 2024 by Josh Gao, Mogen Cheng, Jason Chong and Duy Nguyen, and as of early June was projecting an annual run rate of $100 million by the end of 2026.
- TechCrunch names competitor XDOF as nearing a $1.2 billion valuation. The valuation and run-rate figures come from sources and company projections rather than filings.
- The Wall Street Journal reported on 11 September, followed by Reuters, that the Department of Defense is in talks to lend $5 billion to AI cloud startup Fluidstack through its Office of Strategic Capital, which lends to companies in areas deemed critical to national security. It would be by far the office's largest loan.
- The reported purpose is not a new AI data centre but strengthening US manufacturing capacity and supply chains for the components data centres depend on — an industrial-policy move aimed at reducing foreign supplier dependence in AI infrastructure.
- This is talks, not a signed agreement. Neither the Pentagon nor Fluidstack commented, and the WSJ sourced the story to people familiar with the matter. The underlying WSJ and Reuters reports are paywalled or blocked to automated retrieval; the figures here are as relayed by Tech Startups.
- Watch for an OSC announcement confirming terms, and for which components are named — that would reveal where the government judges the AI supply chain to be most fragile.
- Announced 10 September at the International Space Summit in Paris: a $1 billion programme called Altair-Next Gen, led by UAE-based Marlan Space and Loft Orbital, to field a 50-satellite constellation running AI hardware in orbit, scaling from a ten-satellite demonstration. Ten satellites are in production in Abu Dhabi, with first launches in October 2026.
- Mistral supplies the onboard models providing reasoning and natural-language tasking, and powers services in an AI application store; BlackSky is the programme's highest-resolution optical provider. The constellation carries both radar and optical sensors for government and commercial customers.
- The claimed advantage is latency: analysing imagery on orbit and transmitting results in seconds, rather than downlinking raw imagery for ground processing hours later. Stated initial applications are maritime domain awareness, wildfire detection, disaster response, and port and critical infrastructure protection.
- No power, compute capacity or per-satellite cost figures were published, and the $1 billion is a programme value across a consortium rather than committed spend. Maritime domain awareness and infrastructure monitoring are dual-use by nature.