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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 · AISep 8, 21:04 UTC · 8d agoAI industry

Accel reportedly in talks to lead $1B round for Thinking Machines at $40B valuation

Thinking Machines, Mira Murati's AI lab, is in talks to raise $1 billion at a $40 billion valuation, with Accel reportedly leading.

Thinking Machines, the AI lab founded by former OpenAI CTO Mira Murati, is negotiating a $1 billion round at a valuation of at least $40 billion, below the $50 billion it reportedly sought last year. The company's annual revenue run rate exceeds $100 million, mostly from usage-based compute fees for its open-weight Inkling model adapted on the Tinker platform. Its prior $2 billion seed round, led by Andreessen Horowitz with Nvidia, GV, Lightspeed, and Conviction Partners, valued it at $12 billion. Several co-founders, including Lilian Weng and Luke Metz, have since returned to OpenAI.

TechCrunch · AISep 3, 19:36 UTC · 13d agoAI industry

AI is adding to the review load on open-source projects, many of them thinly funded

ACM Technology Policy Council authors warn AI-generated code is overwhelming thinly funded open-source maintainers, raising software supply chain security risks.

Six authors including Simson Garfinkel and Josiah Dykstra, writing for the ACM Technology Policy Council, argue AI coding tools flood open-source projects with contributions that human maintainers must still review. They cite Google's CodeMender agent contributing 72 security fixes to open-source projects, some as large as 4.5 million lines of code, between April and October 2025. Funding is lopsided: the Linux Foundation raised $292,217,236 in 2024 versus $2,379,402 for the Apache Software Foundation. They also note most open-source applications still ship no SBOM despite US and EU mandates, and attackers increasingly plant malicious packages in popular repositories.

Help Net Security04:30 UTC · 4h agoAI industry

Robots are waiting for a ChatGPT moment: Nvidia’s Les Karpas explains why at TechCrunch Disrupt 2026

NVIDIA Inception's Les Karpas will discuss at TechCrunch Disrupt 2026 why robotics lacks a ChatGPT moment, citing missing internet-scale physical AI datasets.

NVIDIA Inception's Global Head of Physical AI, Les Karpas, will speak on the Real World AI Stage at TechCrunch Disrupt 2026, held October 13-15 at San Francisco's Moscone West. His core argument is that general-purpose robots lack an internet-wide dataset for physical AI, unlike language models from OpenAI and Anthropic. Founders from Shield AI, Colossal Biosciences, FieldAI, and Foxglove will join related sessions.

TechCrunch · AISep 16, 15:00 UTC · 17h agoAI industry

Only at TechCrunch Disrupt 2026: What happens when OpenAI ships your roadmap?

TechCrunch Disrupt 2026 panel will discuss AI startup defensibility when OpenAI, Anthropic, or Google ship features startups built.

TechCrunch promotes a Builders Stage session at Disrupt 2026 (October 13-15, Moscone West, San Francisco) titled 'What Happens When OpenAI Ships Your Roadmap.' Speakers include Airbyte CEO Michel Tricot, Radical Ventures partner Rob Toews, and Webflow CEO Linda Tong. The session examines how founders differentiate when foundation model providers absorb startup capabilities, emphasizing proprietary data, embedded workflows, customer relationships, and trust as remaining moats.

TechCrunch · AISep 14, 15:00 UTC · 2d agoAI industry1

Obama urges Democrats to have a ‘clear plan’ for AI safeguards

Obama urged Democrats to make AI a central agenda with a clear safeguards plan, amid Amodei's independent-evaluator safety proposal.

Speaking at a Democratic fundraising event with House Minority Leader Hakeem Jeffries, former President Barack Obama said Democrats must build a clear plan and public framework on AI's economic and safety impacts once they regain the House majority, warning the fast-moving technology in private hands 'can be dangerous.' Obama has offered himself as a sounding board to AI executives, speaking with Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman. Amodei separately outlined a 'pacing the frontier' approach including independent safety evaluators with access to leading labs and common safety standards, which Altman said OpenAI would also commit to, while Trump emphasized winning the AI race.

TechCrunch · AISep 13, 16:30 UTC · 3d agoAI policy1

Dramatic insider warnings over AI fall flat with some in Silicon Valley

Anthropic researcher Jacob Coxon's resignation warning of AI existential risk drew Silicon Valley skepticism, while Amodei called for slowing development and global regulation.

Coxon, 27, who left Anthropic saying AI builders are 'gambling with our lives' with systems that can 'hack anything', was backed by Anthropic team lead Evan Hubinger, who put extinction risk above 10% within a decade. Executives including Grindr CEO George Arison and Nvidia's Jensen Huang dismissed the warnings as hype, with Arison directing engineers to stop using Anthropic technology. Dario Amodei posted an essay calling for slower AI development and global regulation, while Senator Bernie Sanders co-sponsored the Ban Artificial Superintelligence Act proposing a temporary pause on advanced AI development.

Hacker News · securitySep 13, 08:07 UTC · 4d agoAI safety & security HN 20↑ · 19 comments

Mecka AI nears $500M valuation in Sequoia-led deal amid rush for robot training data

Mecka AI, which collects human motion data for robot training, is nearing a Sequoia-led round at about a $500 million valuation.

Mecka AI is nearing a new funding round led by Sequoia Capital at a valuation of roughly $500 million, three months after raising $60 million led by Framework Ventures with participation from Menlo Ventures, SV Angel, and Kindred Ventures. Founded in 2024 by Josh Gao, Mogen Cheng, Jason Chong, and Duy Nguyen, the startup pays people to record everyday tasks using body sensors and smartphones to produce egocentric training data for humanoid robots. The company projected a $100 million annual run rate by the end of 2026 and competes with firms like Scale AI, Mercor, Surge, Micro1, and XDOF in the physical-world data market.

TechCrunch · AISep 11, 22:58 UTC · 5d agoAI industry1

Anthropic CEOs wife once asked Epstein to fund porn venture – now steers Claude

Anthropic CEO Dario Amodei's wife Cami Clark once pitched Jeffrey Epstein to fund her porn startup and now informally advises the AI lab.

A Wall Street Journal report, republished by the New York Post, details the previously low-profile past of Cami Clark, wife of Anthropic CEO Dario Amodei. Before marrying Amodei in 2022, Clark co-founded a 'luxury porn' startup called Eddice and in 2012 unsuccessfully pitched Jeffrey Epstein for investment, who declined with 'Can't do sex TV.' Clark previously dated Google co-founder Eric Schmidt for about three years and later introduced him to Amodei; Schmidt became one of Anthropic's key early investors in 2021. Though Clark holds no official role at Anthropic, she reportedly acts as Amodei's strategic adviser and networker as the company moves toward a public listing that could top $2 trillion this fall.

Hacker News · securitySep 10, 22:38 UTC · 6d agoAI industry HN 20↑ · 0 comments

[AINews] OpenAI reports Navier-Stokes singularity find in 88 hours using Astra-next, roughly 10,000 agents and 130B tokens (>$40M), a contender for second ever Millennium Prize awarded

OpenAI-linked accounts claim roughly 10,000 AI agents produced a Navier-Stokes singularity result in 88 hours, pending mathematical verification.

OpenAI-affiliated accounts claim a system of roughly 10,000 agents, trained over about a year with multi-agent reinforcement learning, produced a finite-time singularity result related to the Navier-Stokes Millennium Problem. The claimed 88-hour runtime and 130B-token cost circulate only via social posts, and no preprint, theorem statement, or proof artifact is available. Acceptance by the mathematics community is unresolved, so the claim's epistemic status remains unknown. The roundup also notes Cognition's $48B and Mistral's $24B fundraises, GPT Image 2.5, and Meta's Muse agent relaunch.

Latent SpaceSep 9, 05:04 UTC · 8d agoAI research1

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 · AISep 8, 14:17 UTC · 8d 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 · AISep 8, 05:06 UTC · 9d agoAI industry HN 648↑ · 468 comments

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 · AISep 4, 00:48 UTC · 13d agoAI industry

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 NewsAug 14, 04:42 UTC · Aug 14, 2026Policy & legal