Private market news feed.

Cohere's Chief AI Officer Joelle Pineau reports a surge in inbound interest from governments and investors following the US government's order restricting Anthropic's advanced AI platforms for foreign nationals, positioning Cohere as a non-US alternative for sovereign AI needs.

Source: bloomberg-tech

SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO: The deal is supposed to help SpaceX's struggling AI division. The company told IPO investors it sees a $26 trillion addressable market in AI.

Source: TechCrunch

Databricks unveiled new capabilities targeting out-of-control AI spending, aiming to give enterprises better visibility and control over their AI infrastructure bills.

Source: Axios

Mach Industries has been awarded a contract from the Defense Innovation Unit (DIU) for a runway-independent maritime expeditionary long-range strike drone capability. The contract signals growing government interest in Mach's autonomous strike systems.

Source: Breaking Defense

OpenAI burned $3.7 billion in Q1 2026, over half its $5.7 billion revenue.Company faces $665 billion in computing spending commitments through 2030.OpenAI reported 39% gross margins in Q1, up from 33% year-over-year.

Source: TheInformation

Databricks struck a deal to acquire Panther Labs, marking a strategic move into cybersecurity as the company expands its enterprise data platform capabilities.

Source: Reuters

Databricks said annualized revenue has jumped more than 80% from a year earlier and now sits at $6.9 billion, up from a figure of $5.4 billion in the fiscal fourth quarter.While Databricks is benefiting from the AI boom, the company’s margins are shrinking as clients deploy a host of agents, resulting in higher costs.“It’s the consumption-based business model, agentic AI coming,” Databricks CEO Ali Ghodsi told CNBC in an interview.

Source: CNBC

For the first time, an Earth observation satellite has found what it was looking for — on its own, without human analysts on the ground. The milestone, which occurred in April, marks the first reported use of a vision-language model in orbit, and offers a glimpse of how AI could fundamentally change what space-based sensors are capable of — and how much they’re worth.Typically, satellites download large chunks of data to analysts on the Earth below, who use machine learning algorithms or their own eyes to figure out what’s going on. But onboard YAM-9, a spacecraft built by space infrastructure company Loft Orbital, a software package built by NASA’s Jet Propulsion Laboratory identified areas of interest in response to natural language queries.Google DeepMind’s Gemma 3 — the vision-language model, or VLM, that powered the demonstration — is purpose-built for edge applications, meaning it is designed to run on limited hardware far from a data center. VLMs combine the contextual understanding of large language models with the ability to analyze imagery: Researchers asked the model to classify sensor data where natural environment meets human development, for example, or to identify infrastructure around railway hubs — and it did.The demonstration is significant for two reasons. In the near term, it could make space sensors far more useful by doing initial data triage on orbit, reducing the flood of raw data that analysts currently have to wade through. Longer term, it’s a proof point toward running larger-scale AI infrastructure in space.

Source: TechCrunch

Qualcomm has been in talks to buy Tenstorrent, a startup that designs chips for AI. The two companies have discussed a price between at least $8 billion and $10 billion, the person said, which would be a significant premium to Tenstorrent’s last valuation.

Source: TheInformation

New York Knicks championship merchandise has shattered all-time sales records on Fanatics, surpassing the Philadelphia Eagles as the best-selling team ever on the platform and doubling the LeBron James Lakers' 2020 championship sales.

Source: The New York Times

Data center software startup and AI-server broker Hydra Host has raised $100 million at a valuation of close to $800 million, led by Kindred Ventures.Founded in 2021 to serve crypto miners, Hydra Host sells automation software to data center operators so that they can rent out unused Nvidia AI server capacity. Hydra also runs a marketplace that aims to match GPU owners with renters.

Source: TheInformation

Sacra estimates that Waymo hit $355M in annualized revenue in February 2026, up from approximately $284M at the end of 2025 and $125M at the end of 2024.

Source: Sacra