Investment firm Bitfury has committed $50 million to Gonka, a decentralized network for AI computation. The network, which launched in August 2025, has rapidly grown to offer computational power analogous to over 6000 NVIDIA H100 GPUs. This is the first investment from Bitfury’s recently announced $
Luma AI, the video generation startup backed by Nvidia, is making a major move into London. This comes hot on the heels of a massive $900 million funding round that valued the company at over $4 billion.
This year’s Forbes 30 Under 30 Healthcare list highlights young innovators tackling the industry’s biggest headaches. AI is the dominant theme, automating everything from pharmacy paperwork to surgical imaging, but some are pursuing breakthroughs in ultrasound and lab-grown organs.
OpenAI is making a strategic investment into Thrive Holdings, a company backed by its own major investor. This continues a pattern of circular dealmaking for the AI giant as it seeks new ways to embed its technology and grow its stake in the ecosystem.
AI startups are raising multiple funding rounds in rapid succession, with valuations skyrocketing to unbelievable heights. The pace is unlike anything we’ve seen before, even during the peak ZIRP era.
The AI investment frenzy is creating an overheated environment where founders with the right résumés can raise huge rounds without proving product-market fit. While this will produce some enormous winners, it’s also setting the stage for widespread startup failures as the market corrects.
Germany is planning a second €1 billion fund-of-funds to support European venture capital after the success of its first growth fund. The initial fund has already deployed €825 million into 41 VC firms backing 360 startups. Fundraising for the new vehicle is set to begin in 2026.
Naver is making a huge bet on crypto by acquiring Dunamu, operator of South Korea’s largest exchange Upbit. The $10.3 billion stock swap aims to combine Naver’s AI with Dunamu’s blockchain technology. This creates a fintech giant right as crypto markets face significant volatility.
Tongcheng Travel Holdings reported a 23% profit increase to $139 million for the quarter ending September 30. The company benefited from China’s travel resurgence and record accommodation bookings, while also announcing leadership changes.
Bill Ackman is preparing to take both his hedge fund firm Pershing Square and a new investment fund public in early 2024. The move could value Pershing Square well above its $10.5 billion valuation from last year. The new fund would trade on NYSE and offer free Pershing Square shares as incentives.
