Fundraising

AIFirmus abandoned its attempt at one of Australia's biggest-ever initial public offerings after failing to attract global investors wary of frothy AI valuations. The Nvidia-backed data center company's withdrawal reflects growing investor skepticism toward AI-related companies.

AIOpenAI told investors it expects $50bn in revenue this year, about $20bn less than the $70bn it had signalled last month. The gap stems partly from comparing with Anthropic, which counts revenue sold through cloud partners such as AWS and Google Cloud, while OpenAI does not. The news weighed on US tech stocks, and OpenAI is in early talks to raise $30bn at a valuation of about $1.4tn.

AIOpenAI has made GPT-6 available to all ChatGPT free and paid users worldwide, replacing GPT-5.6 SOL and GPT-5.6 LUNA. The model integrates Astra safety improvements that strengthen safeguards against misuse in cyber, biological, and violent domains.

AIShares of Chinese optical chipmakers fell for a second straight session on Friday amid fears of potential US trade curbs on next-generation optical transceivers for data centres. China's CSI 300 Index slid 1.3 per cent by midday to its lowest level since August last year, with upstream laser chip suppliers falling more steeply than downstream transceiver makers.

AIAsia's booming data-center industry faces growing political risk because billions of dollars in investment depend on a few US technology giants, Jardine Matheson's chief executive warned. He said those companies' ability to operate globally could be disrupted by Washington's increasingly unpredictable stance toward China.

AIOpenAI expects to reach or exceed $70 billion in annualized revenue by the end of 2026, according to people familiar with the matter. The company's annualized revenue was roughly $50 billion at the end of September, those people said.

AIDayOne Data Centers Ltd., a Singapore-based company, has held preliminary talks with banks for weeks about a potential $500 million bond offering, according to people familiar with the matter. The discussions are taking place even as the company plans to list in the US.

AIFirmus Grid Ltd. is exploring a private funding round to raise as much as $3 billion after its planned initial public offering collapsed. The data center operator is seeking alternative financing options following the failed IPO.

AITom Watson, now a senior vice-president at Palantir, warned UK ministers against letting "mob rule" dictate public procurement, saying they could get "in a lot of trouble" if they do. The former Labour deputy leader's comments come as Prime Minister Andy Burnham faces pressure to drop Palantir from government contracts, including a £330m NHS software deal.

AIAustralian cloud-computing firm Firmus Grid scrapped its IPO, which had sought a $30 billion valuation. The company had only two operational data centers at the time.

AIGeekPark reports that Krinwave, a Shenzhen company, has completed a new 400 million yuan round with XVC and Sequoia China as new investors. The company says its low-frequency ultrasound captures brain structures through the skull, which conventional high-frequency devices cannot, and it aims to supply hardware and its kOS software platform to brain-computer interface and NeuroAI groups.

AIChina's tech hardware shares are falling rapidly after strong gains earlier this year, as doubts over the global AI trade make high-valuation names especially vulnerable. The selloff reflects growing valuation concerns in the sector.

AIEvan Cheng, CEO of Mysten Labs, presented the Sui Agent Pass at Sui Basecamp in Singapore as a way to bound AI agent authority over money. Users would define allowed actions, assets, recipients, and permission duration, with the system itself enforcing those limits so that losses stop at a predefined cap even if an agent is compromised. The article argues that the real challenge is making such limits impossible to bypass when failures occur.

AISoftBank Group Corp. is seeking to raise as much as $100 billion from Gulf investors to expand its AI investments, the Financial Times reported, citing people familiar with the matter. The report did not specify the timing or terms of the proposed fundraising.

AIXPENG has named its robotaxi business XPENG YOYO and launched a ride-hailing mini program that lets invited members of the public test the service. The company says its first production robotaxi, based on the flagship GX model, rolled off the line in May 2026, and it has completed more than 2,000 internal test rides in Guangzhou. XPENG says YOYO uses four in-house Turing AI chips delivering 3,000 TOPS, a second-generation VLA model, and a vision-based approach without high-definition maps or LiDAR.

AIOpenAI's most senior Asia-Pacific public policy executive is leaving after six months in the role, according to a person familiar with the matter. The departure comes as the ChatGPT maker faces regulatory scrutiny in the region.

AIThreatBook has acquired CyberStrikeAI, an open-source AI pentesting agent, after reports that attackers had used it in real intrusions. The company says it added guardrails to limit misuse but will put new capability enhancements into its commercial edition, and it argues defenders should control such tools. It also corrects an earlier threat intelligence report that linked the developer, a security engineer at Alipay, to government agencies, calling that attribution a false positive.

AIOpenAI expects to reach or exceed $70 billion in annualized revenue by the end of 2026, according to people familiar with the matter. The growth is driven largely by its enterprise business.

AIGoogle Cloud unveiled Gemini Agent at its Gemini at Work 2026 event, a general-purpose work agent for enterprise customers that works across Gemini Enterprise and Workspace. Currently the agent supports Gemini and Claude models, with an API planned so developers can integrate it into third-party applications.

AISnyk moved its internal support agent, Snyk Assist, into the core Snyk product in September 2026, giving every paying customer access. Built on LangChain and LangGraph with observability in LangSmith, the agent answers questions in plain language and can open support cases or log feature requests. It runs as a single agent behind Slack, web and API surfaces, with tools attached per user permissions.

AIAustralian AI data center operator Firmus, backed by Nvidia, has withdrawn its planned initial public offering, citing market volatility and conditions. Its board concluded the proposed terms did not adequately reflect the company's business strength and long-term growth outlook. Firmus said it will now pursue private market capital and consider other public and private options.

AIMicbot says a procurement dispute with a Zhejiang customer over four wheeled-quadruped robots has been settled through negotiation, after reports of late P2 deliveries, a balance fault in a Curiosity S01 and a disagreement over secondary-development rights. The buyer, which ordered two P2 units for 580,000 yuan and later two S01 units at 160,000 yuan each, had refused research-only terms for software access. Micbot's October 6 statement said it supports customer secondary development but requires clear authorization and protection of core technology.

AINaive AI, a Tsinghua-linked company founded seven months ago, has raised $400 million across three rounds at a post-money valuation of $1.42 billion. The company's founder is Dai Jifeng, an associate professor in Tsinghua's Department of Electronic Engineering, and its team has not given interviews or published a product introduction.

AIZhang Lei, then a recent PhD graduate working mainly on image retrieval, beat a team led by face recognition expert Li Ziqing in a 2002 Microsoft Research Asia contest to build a face detection system. He cut the false-positive rate from roughly 50% to 1%, and the algorithm was integrated into Windows. Several members of his team later became prominent figures in China's technology industry.

AIBASAL Intelligence, founded by Tsinghua AIR's first PhD graduate Li Jianxiong, has secured lead funding from Five Source Capital, with Ivy Capital, Linear Capital and WestSummit Capital participating. The company says it is betting on an action-native In-Context embodied foundation model that lets robots learn on site from a few human demonstrations and trial attempts within minutes, without retraining after a scene change.

AIElon Musk announced on X on October 7 that Grok Bot will select the most suitable backend model for each specific task, explicitly naming Claude Opus 5.5. The source text is truncated, so the full list of other models and any further details are not available.

AIChina's Xiongan New Area is accelerating efforts to attract technology firms, officials and sources said, aiming to nurture local industries alongside state institutions relocated from Beijing. Officials are targeting companies that could reach valuations of 10 billion yuan (US$1.4 billion) and list on markets including Hong Kong within a few years.

AIMeta, Walmart, Stripe and Sierra Technologies are partnering on a Personal Agent Protocol that would define how AI agents interact with businesses online. Sierra co-founder Bret Taylor said it will handle authentication and give companies visibility into personal agents' activity, and it is open for anyone to implement. The effort responds to concerns from six major banks, which urged the industry last month to set standards around transparency, safety, privacy, choice and interoperability.

AICaterpillar and CoreWeave are working to cut the time needed to train construction machines from months to hours, according to Caterpillar's Brandon Hootman. Caterpillar's ecosystem holds about 18 petabytes of federated machine, dealer and customer data, and a single machine can generate terabytes of LiDAR, camera and control data in a day. The partners use AI models, working with Nvidia, to annotate incoming field data so it can feed simulation and training within the same workday.

AINous Research, developer of the open-source Hermes AI agent, raised $90 million in a Series B round led by Robot Ventures, with Nvidia and Samsung participating. The company is now valued at $1.5 billion and says Hermes has been downloaded more than 24 million times. The source also reports $36 million in annualized revenue as of mid-September and expects it to exceed $100 million by year's end.

AIUS venture capital deal value reached a record $515.8 billion in the first nine months of 2026, driven largely by giant AI rounds for OpenAI and Anthropic, according to the PitchBook-NVCA Venture Monitor. Exit activity has not kept pace, with third-quarter exit value heavily dependent on SpaceX's $60 billion all-stock purchase of Anysphere, and IPOs remaining sparse.

AIGallatin AI raised $50 million in a Series A round led by contributors including 8VC and Silent Ventures, following a $15 million seed raise in 2024. The El Segundo, California company's Navigator platform helps the U.S. military manage supply chains, with the U.S. Army and U.S. Air Force listed as customers. Gallatin says it will use the funds to enhance Navigator's AI capabilities and hire more engineers.

AIA Financial Times report said OpenAI told prospective investors its annualized revenue was approaching $50 billion, about $20 billion below the $68 billion figure widely reported two months earlier. The gap is attributed to gross versus net revenue treatment, and the Nasdaq fell 1.25% as Oracle, Intel, Nvidia and CoreWeave declined. The report comes as OpenAI, valued at $852 billion, and Anthropic prepare for IPOs.

Why it matters: The article ties a revenue revision to market reaction and IPO valuations, showing how investor confidence in AI revenue figures can move tech stocks.

AIRohit Prasad, a longtime Amazon AI executive, will lead robotics pioneer Boston Dynamics as it prepares to manufacture humanoid robots at scale. The source provides no further details on the appointment or production timeline.

AIFormer BitMEX CEO Arthur Hayes says humanity is wasting multi-trillion dollars on AI data centers that will eventually be overbuilt, causing a crash and a bailout that he expects will benefit bitcoin and other crypto. He expects infrastructure providers to seek payment for committed compute around late 2027 or 2028. Hayes is backing Flop, an AI-agent payments project expected to launch in the first quarter of 2027 that aims to create a spot market for computing power.

AICitrini Research argues that agentic finance, built on top of blockchains, is creating a new paradigm of fundamental crypto investing. The source does not provide further details on specific products, figures, or timelines.

AISingapore's Temasek says an unwinding of the artificial intelligence trade poses the biggest risk to markets, though it does not see that as imminent. Rohit Sipahimalani, Temasek's chief investment officer, said AI has kept U.S. stocks near record highs despite rising Treasury yields, while roughly half the Russell 3000 stocks sit at least 20% below their June highs. Temasek remains bullish on AI long term, aiming to raise its publicly traded AI exposure from about half to 70% to 75%.

AIAI is driving one of the largest capital spending cycles in decades, raising questions about how the investment will be financed and where credit-market risks and opportunities will emerge. PIMCO's Lotfi Karoui, Goldman Sachs' Amanda Lynam and Barclays' Brad Rogoff discussed these issues with Bloomberg's Romaine Bostick at the Bloomberg Future of Fixed Income 2026 conference in New York.