On Thursday, OpenAI introduced ChatGPT for Financial Services, integrating more extensive datasets and new accuracy verification processes to improve the AI's performance in the financial sector.
Harvey, a leading legal AI start-up, recently raised $550 million, valuing the company at $15.5 billion. The company expanded its presence by opening an office in Dublin earlier this year, where it plans to hire 40 new employees to support its growth.
Cognition has reached a $48 billion valuation, surpassing the valuation multiple that Cursor held prior to its acquisition by SpaceX. This suggests that investors see the AI coding landscape as competitive, with multiple players expected to thrive rather than a single dominant winner.
Sarah Friar, CFO of OpenAI, revealed at a recent conference that ChatGPT's advertising approach aims to combine the best elements of Google and Meta's strategies. She also highlighted that OpenAI is on pace to hit $1 billion in yearly revenue, signaling robust growth for the company.
The race to adopt AI has settled, but the challenge to achieve measurable return on investment (ROI) is just beginning. According to a June 2025 Gartner survey of 183 CFOs, 84% of finance organizations have either implemented AI or plan to soon; however, only 7% report significant impact. Most AI investments currently enhance productivity, efficiency, and time savings, rather than delivering strong financial returns. This marks a pivotal shift in CFO priorities towards demanding harder evidence of AI's value.
Anthropic is set to begin marketing its stock offering in mid-October, according to Reuters. This timing places the company's public debut just days before the US midterm elections in November. The report, based on sources close to the deal, highlights the close proximity of the IPO to a significant national event.
Nscale has entered into an agreement to sell compute resources valued at approximately $3.5 billion to Figure. Alongside this transaction, Nscale has also acquired an ownership stake in Figure, highlighting a strategic partnership. The announcement was made public on 3 September, also featured on PR Newswire. The agreement includes provisions for deploying up to 100,000 Nvidia GPUs using Vera technology, indicating significant scale and investment.
Mira Murati’s Thinking Machines Lab is currently in the process of raising new funds, with recent reports clarifying the amount to be between $5 billion and $6 billion. The Information, which first reported the news on September 3rd, notes that the company’s pre-money valuation stands at a minimum of $40 billion. Early investor Accel, involved since the seed round, continues to support the lab during this funding phase.
Crusoe successfully raised $3 billion following reports that the data center developer landed a $13 billion deal with Jane Street, boosting investor confidence in the company’s growth potential.
Nscale is negotiating to secure up to $3.5 billion in financing ahead of its planned U.S. public listing. The fundraising includes $1.5 billion in convertible notes led by Third Point and an additional $2 billion investment from Nvidia. The company highlights contracts worth approximately $103 billion, driven largely by a $45 billion deal with Anthropic, which had been declined by both Microsoft and Google.
