American venture capital firm focused on seed to growth across enterprise, fintech, consumer and healthcare
Rhodium Group finds Chinese frontier AI labs generate only a fraction of OpenAI and Anthropic revenue, challenging assumptions about scale. Z.ai and Moonshot are expanding ARR, while official rounds push for greater in-house sovereignty and AI-powered efficiency.
Covenant has announced Anthem, a ground-launched cruise missile capable of carrying a 200+ kg payload. With multiple production sites and a goal of 5,000 missiles per year, the program aims to lower costs while expanding long-range reach, including Indo-Pacific defense considerations.
A wave of new AI-focused funding signals a shift toward enterprise-ready solutions. BAG Ventures raises a new fund to back AI-native startups, Dorm Room Fund expands with a $50 million AI-aligned pool, and Ema secures growth funding to expand multi-agent workflows. Spellbook appoints a new CMO as the legal AI space grows. Together, these moves indicate a push toward integrated, outcome-driven AI in businesses.
OpenAI will integrate Orchestra's team and tech into Rosalind, expanding life-science capabilities; Warp Sciences raises funding to automate wet-lab work and reshore drug development; Orchestra’s acquisition signals AI’s deepening role in pharma, as rivals compete for science-focused platforms.
Anthropic’s S-1 reveals billionaire-backed stakes and a 5% public-benefit pledge. Co-founders hold large portions, Amazon’s convertible notes could convert to billions, and a $100 billion public-benefit fund is planned as the company targets a multi-trillion-dollar IPO. Founders pledge 80% of equity to philanthropy, while strategic investors loom large in governance and control.