Context: Tech stocks fell the most since 2020 as investors exited the AI trade after the election.
From Bloomberg: The Nasdaq 100 drops 6%, losing a record $2.3T in value, and the Philadelphia chip index plunges 12%, on concerns over the AI trade after Democrats won Congress — Technology stocks plunged the most since 2020 on Thursday as investors exited the sector on concerns over the artificial intelligence…
Seoul-based FuriosaAI, which makes AI inference chips, raised a Series D valuing it at about $2.9bn; South Korea's National Growth Fund put in $280m.
Firms such as Jane Street are investing in AI and chip startups and neoclouds, and some are building their own data centers.
Proposed regulations would strengthen the Treasury's Outbound Investment Security Program to curb US investment in AI, chip and biotech deals in China and Russia.
Crunchbase says the week's largest financings went to AI processor maker Tenstorrent and AI lab Flapping Airplanes.
Mercor supplies human experts to train and evaluate AI models, drawing on a network of more than 5 million domain experts.
The range of $70 to $78 per share implies up to $1.404T fully diluted; SiliconANGLE puts the fundraising goal at $64B.
