• AT&T says open models currently account for ~25% of its AI usage, and it targets 70% to 80% over time; AT&T uses an average of 45B AI tokens per day (Belle Lin/Wall Street Journal)
• AI code review startup CodeRabbit raised a $143M Series C co-led by Atomico and Smash at a $1.5B valuation, after raising a $60M Series B in September 2025 (Prakhar Srivastava/Reuters)
• Thrive Capital's Thrive Holdings, which acquires traditional service businesses and adds AI, raised $2B from SoftBank, D1, and others at a $12B valuation (Michael J. de la Merced/New York Times)
• Amsterdam-based neocloud Nebius reports Q2 cloud revenue up 514% YoY to $575M and total revenue of $582M, above $557M est.; NBIS jumps 15%+, and is up 145%+ YTD (Paula Doenecke/Bloomberg)
• Skan AI, which is building a "context graph of work" by observing staff using enterprise software, raised a $63M Series C co-led by Cathay Innovation and Dell (Michael Nuñez/VentureBeat)
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• African e-commerce company Jumia raised $50M, including ~$25M from the World Bank; its US-listed shares are down from $60+ in 2021 to $6, valuing Jumia at $743M (Loni Prinsloo/Bloomberg)
• The NYC Council sent letters to Polymarket, Kalshi, Coinbase, and Gemini Titan to investigate alleged deceptive marketing practices and targeting minors (Wall Street Journal)
• AI code-testing startup Blacksmith raised a $45M Series B led by Peak XV Partners at a $550M valuation, up from $60M after it raised a $10M Series A in 2025 (Jagmeet Singh/TechCrunch)
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• A look at the challenges facing incoming Google DeepMind head Koray Kavukcuoglu, who joined DeepMind in 2012 and will oversee Gemini and frontier AI research (Kai Nicol-Schwarz/CNBC)
• Former Alibaba star researcher Junyang Lin launches Shanghai-based Pragmatik Labs to build digital and physical AI agents; Pragmatik hit a $2B valuation in June (Juro Osawa/The Information)
• Foxconn reports Q2 revenue up 41% YoY to ~$78.4B, with cloud and networking products contributing 50%+ for the first time, and net profit up 35% YoY to ~$1.86B (Sherry Qin/Wall Street Journal)
• Tencent reports Q2 revenue up 11% YoY to ~$30.4B, above ~$30B est., driven by surging WeChat advertising and resilient game spending, and net income of ~$8.3B (Bloomberg)
• Stockholm-based AI coding startup Lovable raised $400M at a $13.3B valuation, up from $6.6B in December 2025, becoming one of Europe's most valuable startups (Ben Dummett/Wall Street Journal)
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