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• Toronto-based Terminal, whose API connects insurance products and commercial fleet software with telematics data, raised a $20M Series A led by Battery Ventures (Alex Riehl/BetaKit)
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• Harmony, which offers AI-powered enterprise software for handling tasks such as employee onboarding and software access, raised a $34M seed led by Lightspeed (Geoff Weiss/Business Insider)
• Foundational Industries, which aims to build AI-run factories for physical products, starting with custom data center rack enclosures, raised a $25M seed (Lily Mae Lazarus/Fortune)
• ProphetX, a CFTC-designated sports prediction market that is also building a B2B business to sell its exchange infrastructure to other companies, raised $35M (Ryan Lawler/Axios)
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• Sources detail how OpenAI fell behind Anthropic in revenue growth and valuation after prioritizing consumer chatbots and flashy side projects over coding tools (Berber Jin/Wall Street Journal)
• A US judge largely denies Perplexity and three data scraper firms' bid to dismiss Reddit's lawsuit over claims of copyright law violations under DMCA (Ashley Belanger/Ars Technica)
• Sensor Tower: India's mobile app market generated a record $345M in consumer spending in Q2, up 35% YoY; ChatGPT ranked No. 1 by downloads and No. 2 by revenue (Jagmeet Singh/TechCrunch)
• Cybersecurity experts fault Anthropic and OpenAI for sloppy safeguards and inadequate human oversight after their models broke into outside organizations (Bloomberg)
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• Sources: OpenAI demoed a new "Astra" AI model family to US policymakers and regulators this week, touting its improved abilities to complete long-running tasks (The Information)
• Filing: Amazon has completed its $50B investment in OpenAI; source: OpenAI received the final tranche this week, taking Amazon's position to roughly 5% (Financial Times)
• Amazon shares closed up 15.32% on Friday, the biggest one-day jump since April 2012, after the company reported accelerating AWS revenue (Spencer Soper/Bloomberg)
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