May 31st

SpaceX filed to go public at a targeted valuation of roughly $1.8 trillion—trimmed from an earlier $2 trillion goal but still on track to be the largest IPO in history, with the company aiming to raise about $75 billion as investors price in its AI and Starlink ambitions.

Cognition, maker of the autonomous coding agent Devin, raised more than $1 billion at a $25 billion pre-money valuation, more than doubling its worth in eight months and signaling that enterprise appetite for AI software engineers shows no sign of cooling.

Groq is raising $650 million from existing investors to pivot toward an AI inference "neocloud," following a $20 billion licensing deal that saw much of its senior hardware team depart for NVIDIA—a reminder of how fast talent and strategy are reshuffling in the chip race.

Glean tripled its annual recurring revenue to $300 million in just 15 months, evidence that enterprise demand for AI-driven internal search is accelerating even in a crowded market.

OpenAI committed an initial $250 million through its Foundation to fund grants and partnerships helping workers and communities navigate near-term job displacement, a notable acknowledgment from a frontier lab that automation's disruption needs a deliberate response.

ClickUp laid off 22% of its workforce to lean into AI productivity agents, the latest software company to explicitly trade human headcount for automated systems.

Uber's president warned that AI spending is getting harder to justify without clear product benefits, forcing the company to weigh AI token costs directly against human headcount—a sign the "AI at any cost" era is meeting budget scrutiny.

Pope Leo XIV released his first encyclical, the roughly 42,300-word "Magnifica Humanitas," arguing that human dignity and the common good—not corporate efficiency—should guide AI's development, the most prominent moral framing of the technology to date.

Illinois passed a landmark AI safety law establishing rigorous testing standards—backed by both Anthropic and OpenAI—setting a state-level precedent even as federal policy leans toward deregulation.

OpenAI published its Frontier Governance Framework to align its safety and security practices with emerging requirements such as the EU AI Act and California's Transparency in Frontier AI Act.

Robinhood announced it will let users fund dedicated AI agent accounts that can autonomously buy and sell stocks, a notable step toward handing real financial decisions to automated systems.

Apple is working to compress Google's Gemini model to run locally on the iPhone, the integration needed to power its anticipated iOS 27 Siri redesign—and a sign Apple is leaning on a rival's model rather than its own.

OpenAI signed a content partnership with Brazil's Grupo Folha and UOL, bringing regional journalism to ChatGPT's 900 million weekly users while giving the publishers new AI-powered workflows.

Amazon began licensing its proprietary AI shopping technology to third-party retailers, opening a new B2B revenue stream beyond its own storefront.

NVIDIA CEO Jensen Huang said the company will invest about $150 billion a year in Taiwan—up roughly tenfold from a few years ago—calling the island the "epicenter" of the AI revolution as it breaks ground on a new Taipei headquarters.

Snowflake signed a roughly $6 billion deal with AWS to secure AI compute, locking in the horsepower needed to scale its enterprise data cloud.

The White House approved a $9 billion allocation for the CIA and NSA to acquire advanced AI chips, addressing a hardware shortage that had been slowing classified intelligence work.

Anthropic released Claude Opus 4.8 in research preview, introducing dynamic agentic workflows and exposing token-based billing to developers, pushing further into multi-agent automation.

An AI startup published algorithm-generated mathematical proofs in several peer-reviewed journals, a concrete marker of AI's growing role in formal scientific discovery.

The Tribeca Festival will premiere "Dreams of Violets," a 75-minute film generated entirely by AI for about $2,000, hinting at how sharply content-creation costs may fall.