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Business

OpenAI cuts its valuation goal to $1.25T, reports say

CNBC and Bloomberg report that OpenAI is raising about $30 billion at a value of $1.25 trillion. That is $150 billion less than the figure discussed earlier. OpenAI declined to comment.

People familiar with the talks say OpenAI wants commitments from investors by the end of next week. The investment firm Coatue is in talks to co-lead the round, and investors from the United Arab Emirates are also involved, both outlets report.

AI Models

doubleAI says its Maxwell model makes code run faster

The startup of Mobileye’s founder says Maxwell rewrites programs while they run, so they use chips better. Its speed-ups are its own figures, and it also announced a $200 million round backed by Nvidia.

doubleAI, an Israeli startup led by Mobileye founder Amnon Shashua, has launched Maxwell, which it calls a “code execution model”. Maxwell watches a program while it runs and rewrites its machine code to use CPUs and GPUs better. It is open to early-access customers only.

Business

Jev maker TypeSafe raises $870M at a $7.5B valuation

Andreessen Horowitz led the round, which TypeSafe calls a Series A, less than four weeks after Jev launched. TypeSafe says a third of the Fortune 500 already use the model, and has not named them.

TypeSafe AI, which makes the decision model Jev, said on October 9 that it raised $870 million at a $7.5 billion valuation. Andreessen Horowitz led the round, with Sequoia Capital and the earlier investor DCVC. Jev launched on September 15 with a $40 million seed round. TypeSafe says the new money will add models and features for large companies.

AI Models

Leaderboard Arena raises $200M and grades agents’ behaviour

Arena says the round values it at $3.1 billion, almost double its value in January. Its new Alignment Index counts how often AI agents act without permission or claim work is done when it is not.

Arena, which runs a popular public leaderboard of AI models, said on October 8 that it raised $200 million at a $3.1 billion valuation. Lightspeed and Khosla Ventures led the round. Arena also launched a preview of its Alignment Index, which scores 27 models on how they behave as agents in real sessions.

Business

ElevenLabs is now valued at $22 billion after a share sale

Employees sold $300 million of stock at twice February’s valuation, and the company raised no new money. ElevenLabs says businesses now bring in 55% of its revenue, and voice agents are its fastest-growing product.

ElevenLabs, the AI voice company, said on September 30 that a $300 million share sale by employees values it at $22 billion. Wellington and T. Rowe Price led the deal, and investors including EQT, Goldman Sachs and Singapore’s GIC bought in for the first time. The valuation is double the $11 billion of its funding round in February.

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Business

Drone maker Tekever is now valued at $6.4 billion

How much of the new money has arrived is not public.

Tekever, a surveillance-drone maker founded in Portugal and based in the UK, announced the first close of a $580 million funding round on September 23. UC Investments and Baillie Gifford led it. Tekever says the round values it at $6.4 billion, about five times its value in May 2025.