Top News

Microsoft is cutting another 9,000 jobs or approximately 4% of its workforce as it doubles down on AI investments and trims roles across sales and gaming. The New York TImes has more here.

OpenAI Condemns Robinhood’s ‘OpenAI Tokens’

By Maxwell Zeff

OpenAI wants to make clear that Robinhood’s sale of “OpenAI tokens” will not give everyday consumers equity — or stock — in OpenAI, the company said in a post from its official newsroom account on X. OpenAI says it does not endorse Robinhood’s effort, nor was it involved in facilitating the token sale.

“These ‘OpenAI tokens’ are not OpenAI equity,” said OpenAI’s newsroom account on Wednesday. “We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful.”

OpenAI’s statement is a response to Robinhood’s announcement earlier this week that it would start selling so-called tokenized shares of OpenAI, SpaceX, and other private companies to people in the European Union.

Robinhood says the launch represents an attempt to give everyday people exposure to equity in the world’s most valuable private companies via blockchain. Hours after announcing these token sales, Robinhood’s stock price shot to an all-time high.

But stock in private companies like OpenAI and SpaceX are not available to the public. That’s what makes them private. They sell shares to investors of their choosing, so OpenAI is openly disavowing Robinhood’s effort.

In response to OpenAI’s condemnation, Robinhood spokesperson Rouky Diallo told TechCrunch that OpenAI tokens were part of a “limited” giveaway to offer retail investors indirect exposure “through Robinhood’s ownership stake in a special purpose vehicle (SPV).”

More here.

Massive Fundings

Climeworks, a 16-year-old Zürich company that builds and operates facilities that capture carbon dioxide directly from the air and sells carbon removal services to companies aiming to offset their emissions, raised a $162 million round. BigPoint Holding and Partners Group were the co-leads. The company has raised a total of $1+ billion. ESG News has more here.

Lovable, a two-year-old Stockholm startup that builds AI tools to generate full web apps from text prompts, is reportedly raising a $150 million round at a $2 billion valuation. The deal is being led by Accel, with Creandum and 20VC also participating. TechCrunch has more here.

Savvy Wealth, a four-year-old New York startup whose platform enables financial advisors to manage client relationships and streamline operations, raised a $72 million Series B round led by Industry Ventures, with additional participation from Vestigo Ventures and Euclidean Capital as well as previous investors Canvas Ventures, Thrive Capital, The House Fund, and Brewer Lane Ventures. The company has raised a total of $100+ million. WealthManagement.com has more here.

Talon.One, a 10-year-old Berlin company that sells software that lets companies create and manage personalized discounts, loyalty programs, and other promotional offers across different channels, raised a $135 million round. Silversmith Capital Partners and Meritech Capital co-led the deal, with previous investor CRV also participating. Silicon Canals has more here.

Terrana Biosciences, a startup founded this year based in Cambridge, MA, that aims to develop RNA-based treatments to help farmers protect crops from pests and disease with greater precision and less environmental impact, raised a $50 million round. Flagship Pioneering provided the funding. More here.

Big-But-Not-Crazy-Big Fundings

Dexter Energy, an eight-year-old Amsterdam company that uses AI to help energy providers trade wind, solar, and battery power more efficiently in short-term markets, raised a $27.1 million Series C round led by Klima, with Mirova as well as previous investors ETF Partners, Newion, and PDENH also anteing up. Silicon Canals has more here.

Field Medical, a four-year-old startup based in Cardiff-by-the-Sea, CA, that is developing a catheter-based device that uses electric pulses to treat patients with heart rhythm disorders, raised a $35 million Series B round. BioStar Capital and Cue Growth were the co-leads. The company has raised a total of $75 million. MassDevice has more here.

MediShout, a 12-year-old UK company that connects hospitals with medical suppliers to reduce delays and improve patient care, raised a $9 million Series A round led by Heal Capital, with previous investors Nickleby Capital and Meridian Health Ventures also chiming in. DigitalHealth has more here.

Remark, a four-year-old New York startup that provides AI-powered chat tools that let online retailers embed trained human experts into their websites to help answer customer questions and boost sales, raised a $16 million Series A round led by Inspired Capital, with Stripe, Neo, Spero Ventures, Shine Capital, and Visible Ventures also taking part. The company has raised a total of $27 million. TechCrunch has more here.

Wonderful, a Tel Aviv startup founded this year that builds AI-powered chatbots designedto understand and respond in non-English languages, targeting large companies that serve international customers, raised a $34 million seed round led by Index Ventures and including Bessemer Venture Partners and Vine. CTech has more here.

Yaspa, an eight-year-old London startup that provides online checkout tools that let businesses accept direct bank payments from customers instead of credit cards, raised a $12 million round led by Discerning Capital, with previous investor TechStars Ventures also investing. PYMNTS has more here.

Smaller Fundings

Argon AI, a three-year-old New York startup that helps biopharma teams manage research projects and data using AI tools built into a shared digital workspace, raised a $5.5 million seed round co-led by Crosslink Capital and Wireframe Ventures, with Y Combinator and Pioneer Fund also opting in. SiliconANGLE has more here.

Data

Tesla delivered 384,122 vehicles in the second quarter of this year, wrapping up another weak quarter for the company as it struggles to bring the pace of sales back up to 2023 levels. TechCrunch has more here.

General Motors sold 4,508 electric Hummer trucks and SUVs in the second quarter in the U.S., putting it surprisingly close to Ford's F-150 Lightning sales despite a significant price gap in the tens of thousands of dollars. Read the full story in TechCrunch.

Going Public

Hong Kong IPO activity roared back in the first half of 2025, with listing volume jumping eightfold to $14 billion as Chinese firms rushed to raise capital amid looser mainland listing rules, U.S. delisting fears, and renewed investor appetite for AI-driven growth. CNBC has more here.

People

Tesla’s core car business is sputtering, with sales down and profits falling, but Elon Musk appears unfazed as he shifts his focus towards robotaxis and humanoid robots. The Wall Street Journal has more here.

Ford CEO Jim Farley predicts that "artificial intelligence is going to replace literally half of all white-collar workers in the U.S." He's not alone. The Wall Street Journal has more here.

Essential Reads

Chinese AI firms are chipping away at U.S. dominance as multinationals and institutions across Europe, the Middle East, Africa, and Asia are turning to cheaper large language models like DeepSeek. The Wall Street Journal has more here.

The private equity-style “roll-up” strategy embraced by Thrive Capital and General Catalyst is catching on with other VC firms like Khosla Ventures, Bessemer, and 8VC. TheFinancial Times has more here.

As generative AI upends computer science education, universities like Carnegie Mellon are rethinking their curricula to focus less on coding and more on AI literacy and computational thinking. The New York Times has more here.

Employees are attending meetings in which humans are outnumbered by AI note-taking apps. The Washington Post has more here.

Detours

If you want to sit down on this Rubik's Cube Chair, you're going to have to solve it first.

This is Spinal Tap's new 4K release takes the cult mockumentary to 11.

Retail Therapy

Ferrari’s new Amalfi Coupe? Simply bellissima.

Superstar reality TV show producer Mark Burnett is renting his Malibu blufftop estate for $350,000 a month.

A $110 million penthouse atop Manhattan’s ultra-slender Steinway Tower just hit the market, offering four floors of sweeping Central Park views. CNN has more here.