Founders Fund, the venture capital firm co-founded by Peter Thiel, announced the closure of its largest growth fund to date, totaling $6 billion as of May 1. This marks the firm's fourth late-stage investment vehicle. Most of the capital, $4.5 billion, was contributed by limited partners such as sovereign wealth funds, while the remaining $1.5 billion came from the firm's partners and employees.
Nebius Group, a Dutch cloud computing firm that separated from Russian internet giant Yandex in 2024, announced the acquisition of Eigen AI on May 1. The deal, worth around $643 million in a mix of stock and cash, secures a promising 20-person startup founded by former MIT HAN Lab researchers. This move underscores the growing importance of inference technology in the AI market, emphasizing strategic investment in specialized talent and innovation.
During Meta's recent earnings call, Mark Zuckerberg concentrated on AI developments, Meta’s planned capital expenditure of $125-145 billion in 2026, and innovations like Llama models, recommendation engines, and advertising platforms that bring in $56 billion in quarterly revenue—not on issues related to children, which no investor raised.
Heather Hall, the fractional CFO and founder of Sapphire CFO Solutions, highlights the rising challenges startup founders face with the influx of AI technologies. "While AI tools offer promises of better automation and efficiency, they also introduce more complexities in making financial decisions," she explains. "Given the expanding array of options, many founders recognize the importance of experienced financial advice to navigate these complexities effectively."
Artificial intelligence has become deeply ingrained in everyday life, influencing decisions in subtle ways. Amy Trahey, founder of Great Lakes Engineering Group, emphasizes that the true impact of AI lies in its integration into systems, which brings both immense power and significant risk. With her engineering background, she highlights the urgent need for building accountability into AI-driven processes to ensure they operate with integrity and responsibility.
On Monday, finance ministers from the Eurozone will meet with banking supervisors to discuss Anthropic's Mythos AI model. Notably, this AI technology is inaccessible to any government within the European Union. The model is developed by a firm flagged by the U.S. Pentagon as a national security supply concern. This confidential discussion highlights ongoing challenges surrounding transparency and control over advanced AI systems within governmental frameworks.
Meta reported its highest-ever quarterly profit, with revenue increasing 33% to $56.31 billion, surpassing analysts' expectations of $55.49 billion. Net income surged 61% year-over-year to $26.8 billion. However, despite these strong financial results, Meta's stock fell by 9%. This marks the first time Meta has reported comprehensive earnings for its family of apps in this manner.
The recent trilogue session on Tuesday ended without consensus between EU member states and European Parliament representatives regarding revisions to the EU's pioneering AI Act. The key point of contention is whether certain high-risk AI systems used in consumer products should be excluded from the strictest regulations being introduced. After a grueling 12 hours of discussion, the failure to finalize changes has delayed the closure of this legislative process until next month.
The European Commission has announced preliminary findings indicating that Meta has breached the Digital Services Act by failing to prevent children from accessing Facebook and Instagram, marking a notable enforcement against social media giants rather than just adult content sites.
Spain’s Solaria has successfully raised €300 million to develop solar energy projects combined with battery storage near data centers. This approach aims to address the soaring electricity demands driven by AI advancements, as traditional European power grids face increasing strain. Investor interest was strong, with subscription levels reaching 6.7 times the offering.
