Groq closes $350M Series A at $3.5bn evaluation and Nvidia joins the round
Investors and funding
The US is about to make its allies pick a side in the AI cold war
Government and policy
Latest news
INVESTORS AND FUNDING
Space raises $2.4M to abolish the hard drive with an AI-native filesystem for humans and agents
Backed by a16z’s Speedrun, the San Francisco startup wants people and AI agents to work across petabytes of live data while using, it says, zero local disk. The ambition is vast; the terrain is crowded.
FINANCE
Situational Awareness ran two auctions at once, and one set of bidders never knew
The $30bn loss has been public for three weeks. The Wall Street Journal has now reconstructed the six days behind it, including a 20% discount, a twelve-hour deadline, and a second negotiation the first set of buyers knew nothing about.
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
GOVERNMENT AND POLICY
AI-drafted bills are swamping the House office that writes US laws
Congressional staffers and outside groups are using Claude and ChatGPT to write legislation, Politico reports. The House Office of Legislative Counsel now spends longer fixing AI-drafted bills than it would spend writing them from scratch. Its own testimony says it is bracing for the workload.
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