Report: OpenAI raises $11 billion at $1.25 trillion

Today's digest covers new funding for OpenAI, Anthropic's planned share listing, Fox closing its Roku purchase, and Google taking over a Wyoming data center site. We also cover a METR report on Anthropic's progress, voters backing limits on data centers, congressional questions for Nvidia's CEO, and a Meta executive's move.

Acquisitions + deals

OpenAI has raised $11 billion at $1.25 trillion value, Bloomberg reports

Bloomberg reports OpenAI has taken in $11 billion in a new round that puts the company's value at $1.25 trillion. According to Bloomberg, the round could reach about $20 billion once it closes in the coming weeks. Bloomberg says OpenAI first hoped to raise $30 billion at a $1.4 trillion valuation, before tech stocks fell.

Why it matters: Even the biggest AI lab is finding investors more careful after a market slide and voter pushback against AI.

Sources: TechCrunch, The Verge, The Decoder, The Information

Anthropic presses on with share listing despite selloff, FT reports

The Financial Times, citing investors, reports Anthropic still plans its IPO, or first sale of shares on the stock market, before Thanksgiving. According to the FT, Anthropic aims to raise $80 billion to $100 billion at a valuation between $1.25 trillion and $1.75 trillion. The FT says that falls short of the $2 trillion the most hopeful investors had wanted.

Why it matters: Anthropic's pricing will show how much public investors are willing to pay for AI companies right now.

Sources: The Decoder, The Information

Fox closes $22 billion purchase of Roku

Fox has finished buying the streaming company Roku in a deal worth $22 billion. Roku reaches more than 100 million US households, and Fox expects that audience to help it target ads better. The Justice Department says Fox promised to let Roku carry non-Fox content for at least three years.

Why it matters: Roku users should keep seeing other companies' apps, though Fox Sports and Fox news content may get more space.

Sources: TechCrunch, The Verge

Google takes over Crusoe's unfinished Wyoming data center project

Crusoe, a data center developer based in Denver, has sold its unfinished site in southeast Wyoming to Google. Google did not disclose the price but plans to spend $17 billion building out the campus. TechCrunch says Google had reportedly worried about the project's cost and schedule while Crusoe ran it.

Why it matters: Building giant AI data centers on time and on budget is proving hard, even for well-funded developers.

Sources: TechCrunch, crusoe.ai

Research

METR report says AI roughly doubled Anthropic's pace of progress

After 11 weeks inside Anthropic, the AI safety nonprofit METR found its models are improving about twice as fast as before. METR credits most of the speedup to Anthropic staff using AI in their work, rather than to extra computing power. Anthropic was allowed to redact parts of the final report.

Why it matters: AI that speeds up its own development is an early warning sign that safety researchers watch closely.

Sources: The Decoder, The Verge, The Information

Other notable news

Voters back limits on data centers in US midterm elections

In an NBC News poll of Election Day voters, 76 percent said they opposed data centers in their own communities. The Verge, citing Redbud Consulting, says 33 of 45 local ballot measures on data centers will restrict development. Some winners, including Texas Governor-elect Gina Hinojosa, support pausing new data center construction.

Why it matters: AI companies could face slower and harder approvals for the large facilities they need to run their models.

Sources: The Verge, Fast Company, AP News, The Information

Lawmakers ask Nvidia CEO Jensen Huang to brief Congress on spy claims

Three House Republican committee chairs asked Huang for a closed-door briefing about his reported ties to Alice Huang. The New York Times and Financial Times report she was a Chinese spy recruited to target him. Nvidia denies the claims and says their contacts were routine business meetings.

Why it matters: Questions about the head of the main AI chipmaker could shape the fight over chip sales to China.

Sources: Axios, The Information

Meta strategy chief Dave Wehner leaves to become Fireworks CFO

Dave Wehner, Meta's chief strategy officer, is joining the startup Fireworks as chief financial officer. Fireworks lets developers customize and run open AI models for their businesses. CNBC reports the startup was valued at $17.5 billion in a funding round in July.

Why it matters: A senior Meta executive moving to a startup shows how strongly AI infrastructure firms now attract talent.

Sources: CNBC, The Information

Thanks for reading, and we will be back with more news tomorrow.

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