Search: “funding”

Mistral AI raises 3 billion euros in Europe's largest-ever tech funding round despite lagging behind rivals

Mistral AI closed a €3 billion Series D led by Samsung Electronics, valuing the lab at over €21 billion.

Mistral AI raised €3 billion in what it calls the largest equity round ever by a European tech company, lifting its valuation past €21 billion after ASML valued it near €12 billion in September 2025. Samsung Electronics leads the round with EQT's Scaleup Europe Fund and PSG Equity as co-leads; new investors include Advent, BlackRock-managed funds, and Luxembourg. The company also took an $830 million loan in March to fund its own data centers and serves 125+ enterprise customers including Airbus, ASML, and HSBC. Mistral Medium 3.5 trails open rivals like Qwen and Kimi and doesn't compete with top closed US models.

The Decoder·Sep 8, 07:45 UTC · 7d agoAI industry1

Cognition hits $48B valuation, signaling investors believe AI coding is far from a winner-take-all market

Cognition, maker of Devin, raised $2 billion at a $48 billion valuation led by a16z, Accel, and Founders Fund, with revenue at $900M annualized.

Cognition raised $2 billion at a $48 billion valuation, four months after a $26 billion round, led by Andreessen Horowitz, Accel, Founders Fund, General Catalyst, and Avenir. Its annualized run-rate revenue grew from $492 million to $900 million since May, with projected $4-5 billion by end of 2026, while compute costs could push 2026 burn to $800 million. The startup, founded by Scott Wu, counts Mercedes-Benz, NASA, Goldman Sachs, and Citi as customers and is training its own model to cut reliance on OpenAI and Anthropic.

TechCrunch · AI·Sep 8, 21:04 UTC · 7d agoAI industry

Mistral raises €3B as sovereign AI becomes big business

Mistral AI raised a €3B Series D at a €21B+ valuation, led by Samsung Electronics, to scale European compute capacity and sovereign AI services.

French AI lab Mistral AI raised €3 billion (~$3.58B) at a post-money valuation above €21 billion, which it calls the largest equity round ever completed by a European technology company. Samsung Electronics led the round, with EQT's Scaleup Europe Fund and PSG Equity as co-leads; a16z, Nvidia, Salesforce Ventures, Advent, BlackRock, and Luxembourg also participated. The company plans to build 1 GW of European compute capacity by 2030, offer region-selectable query processing, and host third-party open-weight models as part of a sovereign AI strategy. Mistral operates in 20 countries and targets governments and enterprises seeking control over AI models and data residency.

TechCrunch · AI·Sep 8, 14:17 UTC · 7d agoAI industry

Mistral raises €3B

Mistral raised a Samsung-led €3B Series D at a €21B+ valuation — the largest European tech equity round — to scale compute and frontier AI research.

Mistral announced a €3 billion Series D at a post-money valuation above €21 billion, the largest equity round ever by a European technology company. Samsung Electronics led the round, with co-leads Scaleup Europe Fund (managed by EQT) and PSG Equity; new investors include Advent, BlackRock, and the Grand Duchy of Luxembourg. The company operates across 20 countries, serves 125+ enterprises including Airbus, ASML, and HSBC, and says funds will expand frontier research, compute capacity, and international growth.

Hacker News · AI·Sep 8, 05:06 UTC · 7d agoAI industryHN 648↑ · 468 comments

Srsly Risky Biz: Trump's Private Hacker Memo Is the Right Idea

A Trump presidential memo directs DHS to authorize vetted private-sector hackers to conduct cyber operations against foreign cybercriminal groups (CE-TCOs).

A presidential memorandum directs the Department of Homeland Security to establish a program authorizing private companies to conduct cyber surveillance and cyber effects operations against Cyber-Enabled Transnational Crime Organisations (CE-TCOs). Participating companies must pass vetting, obtain government approval before operations, and post a USD $1 million bond. The accompanying fact sheet cites more than USD $20.8 billion in US losses to cyber-enabled crime in 2025. Critics worry about accidental escalation if operations touch foreign government systems.

Risky Business News·Aug 20, 05:29 UTC · 26d agoPolicy & legal

Apple’s Ternus era begins as Nvidia bets on the whole AI stack

Apple's John Ternus becomes CEO as Tim Cook steps down; Nvidia expands across the AI stack while a16z launches a $1.1B Machine Age fund.

Tim Cook stepped down as Apple CEO, handing the company to former hardware chief John Ternus, with Cook staying as Executive Chairman focused on policy relationships. TechCrunch's Equity podcast also unpacks Nvidia's moves to own the entire AI stack, including its Hugging Face acquisition, a MediaTek investment, and deeper compute deals. Other items include robotaxi competition (Tesla Cybercab, Waymo expansion, Zoox paid rides), Andreessen Horowitz's new $1.1 billion 'Machine Age' fund, and the $285 million GoPro acquisition.

TechCrunch · AI·Sep 4, 16:04 UTC · 11d agoAI industry

Risky Bulletin: The EU publishes its upcoming cybersecurity standards

ETSI releases 17 draft cybersecurity standards vendors must meet when the EU Cyber Resilience Act takes effect in December 2027.

The European Telecommunications Standards Institute published 17 interim draft standards covering operating systems, routers, firewalls, VPNs, SIEMs, browsers, password managers, smart home devices, toys and wearables. They mandate basic security features such as post-sale updates, shipped SBOMs, modern cryptography and secure-by-default settings; public comments run until November, with final versions expected in December, one year before CRA compliance begins in December 2027. The newsletter also reports Irregular taking responsibility for AI test-environment escapes involving Anthropic and Meta frontier models, a breach at France's tax agency exposing 678,000+ citizens' data claimed by hacker ZeroBytes, and Kazakhstan eGov data covering 15 million citizens listed for sale on an underground forum. Additional briefs cover a $3.2 million Harmony Protocol theft crashing the ONE token 40%, Columbus Police still restoring systems two years after ransomware, DDoS attacks on Threema's provider, and Ukraine's GUR claiming a cyberattack on Wildberries.

Risky Business News·Aug 17, 05:03 UTC · 29d agoPolicy & legal1

Risky Bulletin: White House lets private companies carry out offensive cyber ops

A White House memo directs DHS to create a program letting vetted private companies conduct US-government-directed offensive cyber operations against cybercrime.

A presidential memo tasks the DHS National Coordination Center with building a program, under DOJ and DHS oversight, through which private-sector companies can conduct offensive cyber operations against large-scale cybercrime organizations. Requirements include secure facilities, vetted personnel, a $1 million escrow for damages, and written approvals co-signed by DHS and DOJ executive directors. The program must launch within 60 days, around October 11, expanding a March executive order targeting scam compounds, ransomware, and other large-scale cybercrime.

Risky Business News·Aug 14, 04:42 UTC · Aug 14, 2026Policy & legal

Germany launches new cybersecurity research agency modeled after DARPA

CyberScoop·Aug 30, 16:17 UTC · Aug 30, 2018Model release in the wild

Proactive cyber defense for governments and enterprises

Google launches the Fairwind Program giving governments and enterprises access to Gemini 3.8 Flash Cyber and CodeMender for autonomous vulnerability finding and patching.

Google DeepMind announced the Fairwind Program, a limited-access offering giving Google Cloud customers, government agencies, and cybersecurity partners access to Gemini 3.8 Flash Cyber and the CodeMender harness to autonomously find, verify, and fix vulnerabilities. Initial access prioritizes governments, critical infrastructure operators in healthcare, telecom, energy, and finance, and core technology platforms, with over 650 partners participating. Google also raised its total global cybersecurity funding commitment above $100 million, including $36 million for 35 US cyber clinics.

Google DeepMind·Sep 2, 16:24 UTC · 13d agoAI industry

Proactive cyber defense for governments and enterprises

Google launches the Fairwind Program giving governments and enterprises access to Gemini 3.8 Flash Cyber and CodeMender for autonomous vulnerability discovery and patching.

Google announced the Fairwind Program, a limited-access offering bringing its cyber defense capabilities to government agencies, critical infrastructure operators, and trusted partners, with more than 650 participating organizations. It combines the Gemini 3.8 Flash Cyber model with the CodeMender harness to autonomously find, verify, and fix vulnerabilities, generating deployment-ready patches in minutes inside customers' cloud environments. Google also raised its total cybersecurity funding commitment above $100 million, including $36 million granted to 35 US cyber clinics supporting hospitals, school districts, and municipal utilities.

Google · AI·Sep 2, 15:40 UTC · 13d agoTools

U.S. Sanctions Iran-Linked Hackers Behind Critical Infrastructure Breaches

U.S. Treasury sanctioned nearly 60 Iran-linked entities, including MOIS-affiliated Mabna Institute hackers behind breaches of U.S. critical infrastructure and millions in crypto theft.

The U.S. Treasury launched Operation Economic Outcast, designating nearly 60 Iran-linked entities, individuals, and vessels across nuclear, missile, oil, cyber, and digital asset networks. Five sanctioned individuals are members of the Tehran-based Mabna Institute indicted last week; three allegedly breached and exfiltrated data from U.S. energy, defense, healthcare, IT, and financial organizations since late 2023. TRM Labs traced roughly $16.8 million across 30 wallets tied to the members, and the State Department announced a reward of up to $10 million. The action follows Iranian hacking of FBI Director Kash Patel's email and attacks on over 30 U.S. water and wastewater utilities.

The Hacker News·Aug 26, 05:07 UTC · 20d agoPolicy & legal in the wild

New Deepseek model V4.1-Flash cuts memory needs for AI agents

DeepSeek released V4.1-Flash, a 552B-parameter open-weight model cutting KV cache needs to a quarter of its predecessor for cheaper million-token AI agents.

DeepSeek released V4.1-Flash, a multimodal model with 552 billion total parameters and 1 million-token context, trained from scratch on 45 trillion tokens of text and images. The model reduces KV cache footprint to about a quarter of DeepSeek-V4-Flash in fast GPU memory and one-eighth offloaded, and 437x smaller per token than DeepSeek-V1, via an encoder/decoder split, 8-16B active parameters per token, and FP4 cache storage. It scores 74.2% on DeepSWE v1.1, narrowly beating Anthropic Opus 5 and OpenAI GPT-5.6 Sol, with gains attributed to data and RL scaling rather than new algorithms. Weights are on Hugging Face under MIT license, also served via API at V4-Flash prices.

The Decoder·Sep 10, 12:40 UTC · 5d agoModel release1

OpenAI’s sly mathematical breakthrough sends a chill through academia

OpenAI claims an unreleased model solved the Navier-Stokes Millennium Prize problem in 88 hours using ~10,000 agents, sparking academic scooping controversy.

OpenAI announced that one of its unreleased internal models took 88 hours, running a swarm of roughly 10,000 AI agents, to produce a solution to the Navier-Stokes Millennium Prize problem, a $1 million Clay Mathematics Institute challenge unsolved by humans for nearly 90 years. The announcement triggered allegations from NYU professor Tristan Buckmaster that OpenAI scooped his joint work with Anthropic researcher Levent Alpoge and questioned whether OpenAI accessed his Codex sessions; OpenAI denies using specific user data but concedes de-identified data influence cannot be ruled out. Critics say the rushed, reportedly million-dollar effort violates academic norms around trust and openness, potentially chilling collaboration in mathematics.

The Verge · AI·Sep 9, 21:16 UTC · 6d agoAI industry 3 sources1

US disrupts Xinbi Guarantee marketplace fueling the cyber scam economy

US Treasury sanctions and DOJ seizures take down Xinbi Guarantee, a Telegram marketplace that processed $24B+ for cyber scams, freezing $52.8M.

The Treasury Department sanctioned the Chinese-language Telegram marketplace Xinbi Guarantee and two supporting firms, Anwen Technology (XinbiPay) and SafeW Technology, while the DOJ seized its Telegram channels and $52.8 million in USDT from 52 wallets. Blockchain intelligence firm Elliptic, which assisted the Secret Service, estimates Xinbi has processed at least $24 billion in transactions since 2022, making it the second-largest illicit online marketplace and a cornerstone of Southeast Asian cybercrime. Vendors sold money laundering, stolen personal data, deepfake technology, and other services for pig-butchering scams, with payments in Tether's USDT. The DOJ's Scam Center Task Force also dismantled 13 scam centers in Madagascar, arresting dozens of alleged leaders who were repatriated to China.

The Record·updated Sep 10, 21:15 UTC · 5d ago·first Sep 9, 19:54 UTC · 6d agoPolicy & legal 4 sources

Microsoft has new AI privacy rules for schools

Microsoft agreed to enforceable AI safety and privacy principles with the AFT and UFT after New York City and Los Angeles imposed one-year bans on student-facing AI.

Microsoft committed to ten contractually enforceable principles covering AI use in schools, including not training models on student or educator data, limiting data collection, plain-language disclosure to families, prohibiting AI companions, and requiring human review for high-risk decisions. The agreement with the American Federation of Teachers and its NYC affiliate comes after NYC and LA implemented one-year bans on student-facing AI. Districts can adopt the terms into new or existing contracts starting in November.

The Verge · AI·Sep 9, 17:07 UTC · 6d agoAI policy

Crusoe reportedly raises $3B at a $30B valuation

AI data center developer Crusoe raised $3 billion at a $30 billion valuation, plus a $13 billion five-year GPU contract with Jane Street.

Crusoe, which builds hyperscale data centers for customers including Meta, Microsoft, OpenAI, and Oracle, raised a $3 billion round at a $30 billion valuation, Bloomberg reported. The round was co-led by Atreides Management and Valor Equity Partners with participation from Mubadala Capital. It comes 10 months after a $1.38 billion raise at a $10 billion valuation and follows a $13 billion, five-year cloud contract supplying GPUs and AI infrastructure to trading firm Jane Street. The company has met with Goldman Sachs and Morgan Stanley about a potential near-term IPO.

TechCrunch · AI·Sep 4, 00:48 UTC · 11d agoAI industry

Nvidia buys Hugging Face, the GitHub of AI, for $13 billion

Nvidia agreed to acquire Hugging Face for $13 billion, pledging the 3-million-model open platform will remain open to its 18 million developers.

Nvidia has agreed to acquire Hugging Face, the model and dataset hosting platform, for $13 billion, pending regulatory review. The platform hosts about 3 million primarily open AI models, 500,000 datasets, and 1 million AI applications, used by more than 200,000 companies and 18 million developers. Nvidia pledged Hugging Face will remain an open platform and keep its brand; the startup previously declined a $500 million Nvidia investment to avoid a dominant investor. The deal supports Nvidia's open-weights strategy, alongside backing for Reflection AI, CoreWeave, and Nebius.

Ars Technica · AI·Sep 3, 13:34 UTC · 12d agoAI industry

[AINews] Muse Spark 1.3 matches GPT-5.6-Sol, confirming Meta Superintelligence as the newest Frontier Lab, >90% discount for training

Meta's Muse Spark 1.3 reportedly ranks as the world's #3 model, matching frontier models from OpenAI and Anthropic with planned open weights.

The Latent Space AI News roundup leads with Muse Spark 1.3, promised in Zuckerberg's letter, which ranks #3 worldwide per AAII, is slated for open weights, and uses a pricing model over 90% cheaper when users opt in to training. The issue also covers the rumored Gemini 3.8 Flash launch and analysis arguing OpenAI's rumored looped-transformer 'Astra' architecture is a modest tweak rather than a breakthrough. Additional coverage includes ByteDance Seed's HarnessDev harness-evaluation benchmark, a retrieval-invoked actual-use evaluation method, Stanford's revamped agent engineering curricula, and Photon 2.1 adding TTS models and NVIDIA B200 support.

Latent Space·Sep 3, 04:38 UTC · 12d agoModel release1

A bold new strategy or a dangerous precedent? Experts are divided on Trump's memo.

Trump presidential memorandum authorizes private-sector companies to conduct federally supervised hacking operations against transnational criminal organizations.

A newly signed presidential memorandum enlists private companies in federal law enforcement hacking operations aimed at transnational criminal organizations, with a 60-day window to establish the program. Experts told CyberScoop the shift raises attribution, targeting and constitutional questions, including risks of private firms accidentally attacking foreign governments and procedures for prior approval before targeting US persons. Critics likened the approach to historical letters of marque, while supporters including NSC cyber policy director Amanda Naylor framed it as bringing private-sector speed to the fight against cybercrime and fraud.

CyberScoop·Aug 13, 22:19 UTC · Aug 13, 2026Policy & legal