⛵ Anthropic Loses $500B in IPO Hype

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Anthropic lost imaginary money, OpenAI is hunting imaginary lovers, and Tesla is still selling the dream of a nine-year-old car. Reality is officially in beta.

Anthropic Loses $500B in IPO Hype

TL;DR: Some investors now pencil in a $1.5 trillion valuation for Anthropic's upcoming IPO, down 25% from earlier $2 trillion talk, per a Reuters exclusive. Q3 revenue hit $16.8 billion, up 45% sequentially with adjusted profitability, but slowing growth and rising AI infrastructure costs are tempering the most anticipated listing in tech. Read more →

Ramp Raises $1.85B Series G

TL;DR: Corporate card and finance software company Ramp raised $1.85 billion in late-stage funding led by Dragoneer, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth participating. The fresh capital funds Ramp's push beyond finance software, making it one of the year's largest private rounds for a fintech platform. Read more →

OpenAI Warns Staff About Honeypot Spies

TL;DR: OpenAI has cautioned employees to watch for espionage attempts, including romantic approaches, according to the Wall Street Journal. Staff were told that someone trying to seduce them could be a honeypot, and that strangers striking up conversations in everyday places may be gathering intelligence on the lab's work. Read more →

Google Hits 99.99% Magic State Fidelity

TL;DR: Google reported a record 99.99% accuracy producing magic states, a key ingredient quantum computers need to run arbitrary calculations reliably, in work published in Science. The result was achieved on Google's 105-qubit Willow chip and marks another step toward practical fault-tolerant quantum computing from Mountain View. Read more →

Google Cuts Quantum Error Overhead 30x

TL;DR: Researchers from Google Quantum AI, Google DeepMind and MIT developed a modular quantum error correction architecture based on hyperbolic codes. Simulations suggest the approach could reduce physical qubit overhead by more than 30 times compared with conventional surface codes, potentially shrinking the hardware needed for future fault-tolerant quantum computers. The results have not yet been demonstrated on quantum hardware. Read more →

Volvo Taps Nvidia for Hands-Free Driving

TL;DR: Volvo plans to launch hands-free, point-to-point driving by 2030, powered by Nvidia's autonomous driving stack. The system will resemble Tesla's Full Self-Driving, letting cars navigate city streets under driver supervision. It is another automaker win for Nvidia as it builds a platform play in autonomy. Read more →

Nvidia Releases Open Nemotron 3.5 Super VL

TL;DR: Nvidia released Nemotron 3.5 Super VL, a 120-billion-parameter open-weight multimodal model with 12 billion active parameters, designed for long-running AI agents. The launch also includes smaller, more efficient Bolt variants for local and edge deployment, expanding Nvidia's open-model lineup as competition intensifies among US and Chinese AI developers. Read more →

Anthropic Enlists Outside Safety Evaluators

TL;DR: Anthropic has tapped nonprofits METR and SecureBio to help assess its models' risks and the company's safety practices. It is also in early-stage discussions with other organizations, including Hugging Face, as frontier labs face growing pressure for independent scrutiny ahead of major capital events. Read more →

Senators Press White House on AI Safety

TL;DR: A group of senators urged the Trump administration to rally federal agencies around AI safety and security. The letter calls for more rigorous testing of AI models for security threats and sandbox evasion, new safety standards, and a stronger lean into defensive AI across government. Read more →

Tesla Set to Reveal Roadster After 9 Years

TL;DR: Tesla is preparing to unveil its redesigned next-generation Roadster nearly nine years after first showing the prototype in 2017. Originally promised for delivery in 2020, the electric sports car has faced repeated delays. The upcoming reveal will test whether Tesla can still generate excitement around its long-promised high-performance flagship. Read more →

Tesla Cybercab Lead Joins Rivian

TL;DR: Jody Kerns, Tesla's senior manager of Cybercab general assembly at Gigafactory Texas, is leaving to become Rivian's director of general assembly for the R2 in Normal, Illinois. He is the second Cybercab launch leader to depart Tesla this year, just weeks after commercial Cybercab rides began in Austin, raising questions about the robotaxi production ramp. Read more →

Rocket Lab Delays Neutron to 2027

TL;DR: Rocket Lab pushed the first launch of its medium-lift Neutron rocket to 2027 amid trouble with carbon composite structures. Announced in 2021 with a target first flight in 2024, the vehicle keeps slipping, leaving SpaceX's Falcon 9 without a near-term reusable competitor in its class. Read more →

OpenAI Opens GPT-Rosalind to Academia

TL;DR: OpenAI is expanding access to GPT-Rosalind, its biology-focused model, through a new Rosalind Academic Plan. Eligible labs at US universities get sponsored access to bring AI into understanding biology, exploring ideas and deciding what to test next, extending OpenAI's push into life sciences research. Read more →

ServiceNow Adds AI Agent Controls

TL;DR: ServiceNow announced new controls for governing AI agents, including AI Passport, alongside updates to its EmployeeWorks platform. The new tools aim to let employees build specialized assistants and automate routine tasks without coding, while IT teams oversee agent activity across the enterprise. Several capabilities remain in controlled availability, with additional governance features expected later this quarter. Read more →

Apple, Nvidia Fund White House Ballroom

TL;DR: Apple pledged $25 million toward President Trump's White House ballroom, according to a donor list obtained by The Washington Post. Nvidia also committed $25 million, making the two tech giants among the project's top donors as Silicon Valley deepens its ties with the administration. Read more →

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