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Business

Funding rounds, acquisitions, revenue, and the money moving through the AI industry.

14 stories · Latest October 1, 2026

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.

Why it matters

A tender lets staff turn some shares into cash without the company raising money, so it is a price check, not new fuel. The growth figures behind it come from ElevenLabs itself. Its boss says it is preparing for a possible stock market listing in the coming years, but has set no date.

3 min read 4 sources
Business

Reddit will end RSS feeds and its public API over scraping

RSS stops on November 13 and public API access ends in March 2027. Reddit blames large-scale scraping and automated abuse, and apps that want to keep access must register.

Reddit told moderators and developers on September 30 that its RSS feeds will stop on November 13, and that public access to its API will end in March 2027. It called RSS “a common surface for large-scale scraping and automated abuse”. Apps and bots must register on its Developer Platform to keep access, and Old Reddit will be limited to moderators and recent users.

3 min read 3 sources
Business

Anthropic’s IPO filing lists existential risks, reports say

Reuters and the Financial Times say they have seen the unpublished prospectus. It shows revenue up twelvefold in 2025 and an operating loss of $8 billion.

Anthropic’s prospectus for its planned stock market listing warns that advanced AI could pose “catastrophic or existential risks to humanity”, Reuters reported on September 28 after reviewing the filing. It shows revenue of nearly $4.6 billion in 2025, twelve times the year before, and a net loss of $42 billion, most of it an accounting charge. Anthropic declined to comment.

4 min read 3 sources
Business

Blue Cross ties $942 million in extra hospital costs to AI

Its insurers say AI coding tools make patients look sicker on paper. Hospitals say their patients really are sicker.

The Blue Cross Blue Shield Association said on September 24 that hospitals billed more stays as medically complex from 2023 to 2025. It estimates that this added $942 million in costs for Blue plans, with no matching change in care, and links the rise to AI coding tools. The hospital industry calls such claims unproven.

4 min read 4 sources
Business

Anthropic’s founders seek 50.1% of the vote, report says

The seven co-founders own about 2% each. A trust would still choose most of the board.

Anthropic is asking shareholders to approve special shares for its seven co-founders, The Information reported on September 24. Together they would hold 50.1% of the vote on most company matters. The control would last as long as at least three founders keep a minimum stake. Anthropic has not commented.

4 min read 3 sources
Business

Higgsfield says its sales now run above $1 billion a year

The AI video startup multiplied its last four weeks of revenue by 13.

Higgsfield, which makes AI tools for video, told Bloomberg on September 24 that its annualized revenue run rate has passed $1 billion. The company calculates it from its latest four weeks of revenue. Demand is strongest from brands that make video ads, Bloomberg reports.

4 min read 5 sources
Business

Anthropic committed $11.6 billion to Akamai’s cloud

The deal runs seven years. In return, Anthropic can earn a stake of up to 5% in Akamai.

Akamai said on September 24 that Anthropic will spend $11.6 billion over seven years on its cloud, mainly for CPU computing. The deal could grow to about $20 billion. Anthropic also received a warrant for up to about 5% of Akamai, which vests as its spending grows.

4 min read 4 sources

More Business news

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.

4 min read
Business

AMD is now worth more than $1 trillion

The rally rests on a bet that AI agents will need more processors.

AMD’s shares closed at a record $615.52 on September 21, lifting its market value above $1 trillion for the first time. It announced no new deal or product. Traders are betting that AI agents will need many more server processors.

4 min read
Business

Mistral raised €3 billion

Now it must turn European trust into useful AI.

The French AI company reached a value above €21 billion after a new funding round. The money can buy more computing power, but it does not guarantee better models or lasting customers.

4 min read