DeepSeek built a Claude Code rival, then quadrupled its prices
Artificial Intelligence
An AI-written article needs no label. Your proofread email gets one
Government and policy
SK Hynix is spending $720bn as its shares fall by half
Semiconductors
Legora is reportedly chasing a $10bn valuation, barely a season after its last raise
Investors and fundingLatest news
ARTIFICIAL INTELLIGENCE
Accel raised $3.5bn. Europe now gets the same fund as the US
The new Accel Europe fund is $800m, exactly the size of its US fund. The India fund shrank, and the reason it grew everywhere else is that seed rounds have stopped being seed rounds.
ANTHROPIC
Anthropic’s $2trn IPO is priced below what AI stocks already fetch
Half a dozen Anthropic backers told the Financial Times they expect an October float at $2 trillion or more. That would be the largest IPO in history. Measured against the revenue the company last disclosed, it is also a lower multiple than comparable AI stocks already fetch. The risks sit elsewhere, and they are specific.
ARTIFICIAL INTELLIGENCE
Target appoints its first chief AI officer as retailers scale up AI spending
Chandhu Nair joins from Lowe's on August 24, into a job that barely existed two years ago and now sits in three quarters of large organisations
DEEP TECH
Europe built the world’s largest electric plane. It flew in New York
The world’s largest electric aircraft flew for 27 minutes on Wednesday and used about $5 of electricity doing it. Jet fuel is up 63% on the year. A Swedish company designed the aeroplane, and it took off in upstate New York, because Heart Aerospace closed its Gothenburg operation and moved to Los Angeles.
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