Google Gemini 3.5 Pro Arrives With a 2-Million-Token Context Window
Google's Gemini 3.5 Pro reaches general availability with a reported 2-million-token context window, Deep Think gated at $250/month: storage is not understanding.
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11 entries tagged Funding & Valuations · 11 wires.
Wisdom Wire
57,000 Jobs in June, $49 Billion for AI: The Labor Market Is Splitting in Two
The US added 57,000 jobs in June, far below the 185,000 estimate, as AI tools compress entry-level knowledge work. MGX closed a $49B AI fund the same day.
Claude Sonnet 5 Ships as Default: The Agentic Middle Tier Arrives
Anthropic shipped Claude Sonnet 5 on June 30 as the new default for all Free and Pro users, delivering near Opus-level agentic performance at midtier pricing. ChatGPT expanded personal finance to $20/mo plans the same day.
ChatGPT Goes Ad-Supported: The Free Ride Has a New Price Tag
OpenAI took ChatGPT ads to five new countries and opened a self-serve manager with CPC bidding. The free AI tool is now an ad-supported consumer product.
Anthropic and OpenAI Launch Rival Wall Street JVs on the Same Morning
Anthropic closes a $1.5B enterprise JV with Blackstone and Goldman Sachs; OpenAI finalizes a $10B vehicle backed by 19 investors, same day. Two labs, one playbook, zero coincidence.
Cerebras Sets $3.5B IPO at $26.6B Valuation: The First AI Chip Listing Has Arrived
Cerebras prices 28M shares at $115-$125, targeting a $26.6B valuation on $510M revenue. Pentagon AI contracts freeze out Anthropic. Microsoft Agent 365 goes GA.
Anthropic's $900B Pre-IPO Round: The Lab Leapfrogs OpenAI
Anthropic is closing a $50B round at a ~$900B valuation in two weeks, leapfrogging OpenAI's $852B. The frontier labs are now pricing each other.
SpaceX's $60 Billion Cursor Option: The AI Coding Stack Consolidates
SpaceX locks a $60 billion option on Cursor with 200,000-GPU Colossus compute access. GPT-5.5 surfaces briefly in OpenAI Codex. Anthropic's Claude Design erases $700 million from Figma's market cap in 48 hours.
The Borrower and the Lender
Amazon put up to $25B more into Anthropic. Anthropic pledged $100B back to AWS over a decade. The frontier lab is now a tenant of its largest investor.
TSMC Just Told You Who's Winning. Follow the Capex.
TSMC's fourth consecutive record quarter, a shoe company pivoting to GPUs, and the question the infrastructure boom is begging you to ask.
The $1.8 Billion Question No One Is Asking
A solo founder built a $1.8B telehealth company with AI tools and one employee. The story is real. But the lesson most people are drawing from it might not be.