September 19th Newsletter

Author

Da Yu
September 19, 2025

As of close on September 18, 2025

On Wednesday, the Fed approved a quarter-point interest rate cut and sees two more coming this year. In geopolitics, the U.S. and China struck a framework TikTok deal, as Beijing launched a fresh antitrust probe into Nvidia. Microsoft, Nvidia, and other tech giants plan over $40 billion of new AI investments in UK. On Monday, Alphabet surged 4.3%, pushing its valuation past $3 trillion on strong AI earnings and easing regulatory pressure. StubHub’s IPO fell 6.4% from $23.50, valuing it at $8.1B, after raising $800M amid slowing growth and regulatory pressure. In addition, Netskope surged 21% in its Nasdaq debut after raising $908M at $19/share, valuing it at $8.8B. IPO saw 23x oversubscription. Meanwhile, Tesla shares have rebounded 85% since its April low, driven by Elon Musk’s $1B share purchase and a new $1 trillion compensation package for Musk from two weeks ago.

Top 5 AI Highlights

[1] 💰 OpenAI plans to cut Microsoft’s revenue share from 20% to 8% by 2030, retaining $56B to fund soaring compute costs. Talks also cover AGI rights, server spending, and shared ownership. Separately, OpenAI hires ex-xAI CFO Mike Liberatore to oversee infrastructure spend amid $300B cloud ramp-up. Read more from The Information and CNBC.

[2] ⚖️Penske Media is suing Google, alleging AI summaries use its journalism without consent, with 20% of search results affected and over one-third decline in affiliate revenue by end-2024. Filed in D.C. federal court, it’s the first major antitrust suit by a U.S. publisher over AI search. More from Axios.

[3] 🤝 Nvidia will invest $5B in Intel to co-develop X86-based CPUs for AI and PC markets, sending Intel shares up 23% and expanding Nvidia’s data-center and edge computing reach. In parallel, Nvidia struck a $6.3B cloud deal with CoreWeave to secure unused AI capacity through 2032, following CoreWeave’s $11.9B OpenAI contract, as demand surges and costs climb with Q2 expenses nearly quadrupling to $1.19B. More from WSJ and Reuters.

[4] 🤖 Albania appoints Diella, an AI bot, as minister to oversee public procurement, aiming to eliminate corruption. Prime Minister Rama claims it ensures 100 percent tender transparency, boosting the country’s EU accession bid by 2030. More from Reuters.

[5] 📊 OpenAI releases first-of-kind study revealing how people are using ChatGPT for everyday tasks: 73% of use is now personal, focused on practical advice, writing help, and tutoring, especially in low-income nations. Similarly, in Anthropic’s latest AI Economic Index, other than how people use AI, it also listed the top 10 most distinctive and top 10 most frequently discussed topics by state. More on OpenAI and Anthropic.

Source: Page 18 of the OpenAI Paper

Source: Anthropic

Founder’s Corner

H1 2025 had the highest rate of startup acquisition in years

Source: X

What We Read This Week

  • Atlassian will acquire developer productivity platform DX for $1B in cash and stock, its largest deal yet. 90% of DX’s 350+ enterprise customers already use Atlassian tools, making the integration a natural fit. (TechCrunch)

  • CrowdStrike will acquire AI security startup Pangea for $260M, expanding defenses against prompt injection and AI-driven malware as corporate AI adoption grows. CEO George Kurtz called it the “first inning” of AI security. (WSJ)

  • China’s Unitree Robotics eyes a $7B IPO on the STAR Market, up from $12B in July. Profitable with ¥1B+ revenue and backed by Alibaba, Tencent, Geely, it leads China’s humanoid robotics push. (Reuters)

  • Meta unveiled $799 Ray-Ban Display smart glasses, debuting Sept. 30. With an in-lens screen for messages, maps, and translations, Meta aims to sell 10M units annually by 2026 amid rivalry with Google, Samsung, and Snap. (CNN)

  • Netflix’s latest live sports push drew 41.1M global viewers (20.3M U.S.) as Terence Crawford beat Saúl “Canelo” Álvarez for the undisputed super middleweight title. The sold-out Allegiant Stadium event ranked #1 in 30 countries and Top 10 in 91. (Deadline)

AI Fundraising news (Sep 12 — Sep 18)

  • AAA C(H+A)RM: Autonomous AI agents orchestration platform, raised a $4M Seed

  • AegisAI: Autonomous AI agents to block phishing/malware, raised a $13M Seed

  • AI Sphere: AI video generator PixVerse with 100M+ users, raised a $60M Series B

  • Airia: Enterprise AI security and orchestration platform, raised a $100M round

  • Alchemab Therapeutics: AI-enabled therapeutic antibody discovery, raised a $32M Series A extension

  • Aleph: AI-driven FP&A tools for finance teams, raised a $29M Series B

  • Altan: AI agents to autonomously build production software, raised a $2.5M Preseed

  • Anecdote: AI research platform for better product decisions, raised a $12.2M Early Stage VC

  • Arvo: AI auditing software automating claims compliance, raised a $19.5M Series A

  • AtlasNova AI: AI-powered productivity and workflow automation platform, raised a $2.3M Seed

  • Atolio: Private AI-powered enterprise search tool, raised a $24M Series A

  • Bioewg: AI-based materials science and molecular simulation, raised a $18.7M Series A

  • Boost Run: AI cloud infrastructure company, going public via SPAC merger at $614M value

  • CADY: AI-powered schematic inspection system for industrial applications, raised a $2M Later Stage VC

  • Causify: Decision intelligence platform for enterprise decision-making, raised a $2.2M Seed

  • Character Biosciences: Precision medicine platform transforming drug development, raised a $110M Series B1

  • Chip: AI-powered digital savings and investment platform, raised a $8.1M Later Stage VC

  • CodeRabbit: AI-powered platform for code review automation, raised a $60M Series B

  • Conceivable Life Sciences: AI-powered robotics for IVF automation, raised a $50M Series A

  • Conduct: Enterprise system analysis AI improving decision-making, raised a $12M Seed

  • Console Systems: AI-powered IT agents automating help desk systems, raised a $23M Series A

  • Covecta: Configurable AI platform automating critical workflows, raised a $6.5M Seed

  • CreatorDB: AI infrastructure for influencer marketing, raised a $4.7M Series A

  • Diana Health: AI-powered women’s health app with hospital partners, raised a $55M Series C

  • DianaHR: AI-powered HR-as-a-service for small businesses, raised a $3.7M Seed

  • Doctronic: AI-powered telehealth services with licensed clinicians, raised a $20M Series A

  • Druid AI: AI-powered chatbot authoring software for enterprises, raised a $81M Series C

  • DX: Insights platform helping developers with AI efficiency, raised $1B

  • Dyna Robotics: AI-enabled robotic manipulation systems for automation, raised a $120M Series A

  • ElevationSpace: Space utilization and recovery AI for experiments, raised a $7.5M Early Stage VC

  • Encentive: AI-driven industrial asset control for energy savings, raised a $7.4M Seed

  • Envive: AI agents powering online retail personalization and operations, raised a $15M Series A

  • Ethosphere: Conversational AI for enhanced customer interactions, raised a $2.5M Seed

  • Eve Security: Observability and policy enforcement for agentic AI, raised a $3M Seed

  • EvoluteIQ: Agentic AI orchestration for enterprise workflow automation, raised a $53M Growth

  • Fabrix Security: AI agents for identity and access management, raised a $8M Seed

  • Figure AI: Humanoid robots for industrial and household tasks, raised a $1B+ Series C

  • Firmus: AI-enabled cloud infrastructure service provider, raised a $320M Later Stage VC

  • GATC Health: AI multi-omic health risk prediction platform, raised a $26M Later Stage VC

  • Gelt: AI-based tax management platform optimizing compliance, raised a $21M Later Stage VC

  • Goodpath: AI-driven virtual care for chronic conditions, raised an $18M Series A

  • GreenLite Technologies: AI-powered prop-tech platform for city planning and development, raised a $49M Series B

  • GridStrong: AI platform for electric grid compliance and automation, raised a $10M Seed

  • Groq: AI chipmaker and data center compute provider, raised a $750M round

  • Hearables 3D: AI-powered audio and dental 3D customization tools, raised a $5.8M Series A

  • Higgsfield: AI video generation startup, raised a $50M Series A

  • Hive Robotics: AI control layer for robot swarms, raised a $2.3M Preseed

  • Hiverge: AI-based neuro-symbolic model building technology, raised a $5M Seed

  • Hyperbound: AI-driven hyper-personalized sales engagement software, raised a $15M Series A

  • Icarus: Dexterous robots for orbital cargo logistics and maintenance, raised a $6.1M Seed

  • IMMA Health: AI ovarian stimulation monitoring system, raised a $2.5M Seed

  • Implement AI: AI agent platform supporting enterprise adoption strategies, raised a $1.8M Seed

  • Inbox Health: AI-enabled patient billing and payments, raised a $20M round

  • Invisible Technologies: AI-driven process orchestration for office task automation, raised a $100M Later Stage VC

  • Irregular: Frontier AI security lab for global protection, raised an $80M Early Stage VC

  • Iris Finance: AI-driven financial planning for CPG brands, raised a $6.2M Seed

  • Keplar: Voice AI for customer interviews and market research, raised a $3.4M Seed

  • Kertos: AI compliance automation for European regulatory regimes, raised a $17M Series A

  • Kojo: AI cloud-based construction management platform, raised a $49M Series C

  • Lakera: AI security platform protecting generative AI systems, raised a $300M Later Stage VC

  • LEA Technologies: AI workflow automation for client service and onboarding, raised a $1.8M Seed

  • Lendbuzz: AI auto loan underwriting platform, filed for a US IPO

  • Lila Sciences: AI, robotics, and labs to accelerate discoveries, raised a $235M Series A

  • Litewave AI: AI-powered compliance platform for regulated industries, raised a $1.3M Seed

  • Luminary Cloud: Physics-based AI for engineering design optimization, raised a $72M Series B

  • Lōvu Health: AI-powered maternal healthcare platform, raised a $8M Series A

  • Macroscope: AI-driven software analytics for development monitoring, raised a $40M Series A

  • Markup AI: Content protection and compliance for brand publishers, raised a $27.5M Series A

  • MarqVision: AI platform to fight counterfeits for brands, raised a $48M Series B

  • Meela: AI voice companion for senior well-being, raised a $3.5M Seed

  • Micro1: AI contractor platform for data labeling, raised a $35M Series A

  • MicroFactory: Compact AI-powered robotic factories for precision manufacturing, raised a $1.5M Preseed

  • Modern Animal: Veterinary clinic network with AI-powered workflows, raised a $46M Series D

  • Myriad: AI compliance tool automating organizational processes, raised a $7.8M Seed

  • Nofence: AI-powered virtual fencing system for livestock management, raised a $35M Series B

  • Nory: AI operations platform for restaurant management and analytics, raised a $37M Series B

  • Numeral: AI-powered sales tax compliance and automation, raised a $35M Series B

  • OMMM: AI-based operations management software for real-time optimization, raised a $4.2M Later Stage VC

  • Omnea: Procurement and supplier relationship AI platform for enterprises, raised a $50M Series B

  • Pascal AI: AI for automating financial research workflows, raised a $3.1M Seed

  • PassiveLogic: Generative-AI systems to autonomously manage buildings, raised a $74M Series C

  • Pats: AI-based autonomous drones eliminating flying insects indoors, raised a $3.2M Later Stage VC

  • Penguin AI: AI admin tools for healthcare payers/providers, raised a $30M round

  • PinPoint Analytics: AI-powered construction estimation platform, raised a $2M Later Stage VC

  • Plumerai: On-device computer vision AI for embedded devices, raised a $8.7M Series A

  • Promptwatch: AI platform for monitoring brand mentions, raised a $1.4M Seed

  • Quack: AI agents for proactive customer service resolution, raised a $7M Seed

  • Raion Robotics: AI-enabled quadruped robotics with reinforcement learning, raised a $16.5M Series A

  • Ray Security: AI cybersecurity preventing breaches with context-aware controls, raised a $11M Seed

  • Remedio: AI to detect and fix network misconfigurations, raised a $65M round

  • Reserv: AI-enabled digital claims administration for insurers, raised a $41M Series B

  • RoboTruck: AI-powered autonomous driving for logistics industry, raised a $11.2M Early Stage VC

  • Rulebase: AI agents for compliance and dispute automation, raised a $2.1M Preseed

  • Sana: AI workplace tools provider, acquired by Workday for $1.1B

  • Scalekit: Identity verification and control for AI agents, raised a $5.5M Seed

  • Scintil Photonics: Integrated photonic chips for AI infrastructure, raised a $58M Series B

  • Senpi: AI-based web development platform for blockchain access, raised a $4M Seed

  • Seon: AI fraud detection and prevention platform, raised a $80M Series C

  • SEQUESTO: AI automation for proposal and tender management, raised a $3.5M Later Stage VC

  • Shop Circle: AI-powered global e-commerce technology provider, raised a $100M Series B

  • Spara: AI sales automation accelerating velocity and prequalification, raised a $15M Seed

  • Sophont: Multimodal medical AI models for healthcare R&D, raised a $9.2M Seed

  • Synthesize Bio: AI biomedical discovery accelerating data analysis, raised a $10M Seed

  • Suena: AI platform optimizing renewable energy trading decisions, raised a $9.4M Series A

  • Swarmer: AI-powered drone technology for industrial operations, raised a $15M Series A

  • Tabs: AI agents automating finance team workflows and revenue, raised a $55M Series B

  • Temelion: AI tools to streamline pre-construction engineering workflows, raised a $3.8M Seed

  • Teton.ai: AI companion to support nurses and workflows, raised a $20M Series A

  • Terra Security: AI productivity software for penetration testing, raised a $30M Series A

  • Time Atlas Labs: AI-based life tracking for contextual user timelines, raised a $2.1M Early Stage VC

  • Turnout: AI-assisted advocacy for government and financial processes, raised a $21M Seed

  • UiAgent: AI-native hyper automation platform for accounting firms, raised a $4.6M Seed

  • Ultimarii: AI intelligence platform for regulatory and industry-specific data, raised a $5.2M Early Stage VC

  • Ultralytics: Computer vision and object-detection AI solutions company, raised a $30M Series A

  • Upscale AI: AI networking company automating enterprise optimization, raised a $100M Seed

  • Vega: AI-based security analytics platform, raised $65M Seed and Series A

  • Vidext: AI video creation tools for professional content, raised a $7M Series A

  • WorkFusion: AI agents for financial crime compliance, raised a $45M round