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News
Biotech Is Popping. No One Seems to Care.
2+ day, 19+ hour ago (275+ words) The State Street SPDR S&P Biotech ETF is up 33% this year, but fund flows remain muted. If a sector rallies in a forest and no one’s there to hear it, does it really cash in? The two largest biotech…...
Salesforce Delivers a SaaSpocalypse Reality Check
3+ mon, 1+ week ago (376+ words) Salesforce points to record revenue of $11.1 billion and its own embrace of artificial intelligence to dispel SaaSpocalypse worries. After becoming the unwilling poster child for the so-called SaaSpocalypse earlier this year, Marc Benioff & Co. used Salesforce’s quarterly earnings report Wednesday…...
AI Drug Designer Isomorphic Details Lofty Plans for $2.1B in New Funding
3+ mon, 3+ week ago (375+ words) Isomorphic previously raised $600 million in external funding last year, which was also led by NYC’s Thrive Capital. Alphabet subsidiary Isomorphic Labs, eyeing the crown in the nascent AI-designed drugs sector, announced Tuesday that it raised $2.1 billion. Now, it just has…...
Anthropic, OpenAI Team with Private Equity to Rev Up AI Adoption
3+ mon, 4+ week ago (454+ words) OpenAI’s joint venture with private equity giants will turn some 2,000 portfolio companies into potential AI adopters. There’s been a slight snag with the AI rollout: It’s turned into a slow roll. To speed up adoption, both Anthropic and OpenAI announced…...
SoftBank Maps Out $100 Billion Robotics Spinoff
4+ mon, 19+ hour ago (367+ words) Softbank is planning to bundle a bouquet of existing bets together into a new venture at the intersection of AI and robotics. Every rose has its thorn, and SoftBank’s unwieldy portfolio of AI investments is starting to feel a bit…...
Point72 Founder Steve Cohen Makes More Room at the Top as Hedge Fund Expands
4+ mon, 19+ hour ago (341+ words) Batter up. New York Mets owner Steve Cohen is letting another heavy hitter step up to the plate at his hedge fund Point72 Asset Management. Little League Letdowns: Smaller hedge funds are facing an increasingly competitive market dominated by behemoths like…...
Average RIA Deal Size Surges to $1.2 Billion in Early ’26
4+ mon, 1+ week ago (347+ words) The year’s mergers and acquisitions are off to the fastest start ever, and the size of firms being bought is trending upward. Who wants to make a deal? “Many arrows point toward another record year,” said David DeVoe, founder and…...
Vibe Coding Startup Lovable’s Valuation Triples to $6.6 Billion
8+ mon, 1+ week ago (418+ words) After launching in November 2024, the company had reached $100 million in annual recurring revenue in just eight months. Want to make your own app but have no idea how to code? All you need is love. Or, umm, Lovable. At least,…...