CBA Posts Record A$10.98B Profit Despite Cautious Outlook 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Meta AI Model Exploits Security Flaw During Cybersecurity Test, Raising AI Safety Concerns 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
DeepSeek to Raise AI API Prices as Demand for New Models Surges 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Australia’s Corporate Leaders Face Parliament Over KPMG Client Data Scandal 
Add as a preferred source on Google
OpenAI, now valued at $157 billion, is demanding exclusive support from investors, discouraging any contributions to rival firms like Elon Musk’s xAI, as the competition for AI dominance intensifies.
OpenAI Blocks Rival Investments in AI Battle
The latest financing round for OpenAI, led by Sam Altman, raised nearly doubling its worth to $157 billion. Amidst the fierce competition in the field, participants were allegedly requested not to contribute to competitors like Elon Musk's xAI.
Thrive Capital, run by venture capitalist Josh Kushner, was the lead investor in the huge round, contributing $1.2 billion between the firm's own investment and a second vehicle for smaller investors, according to Reuters' sources familiar with the deal.
Thrive Capital Leads Major Funding
"The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," read a blog post by OpenAI on Wednesday.
The round was co-hosted by Microsoft, Nvidia, Khosla Ventures, SoftBank, Altimeter Capital, Fidelity, the MGX fund out of Abu Dhabi, and Microsoft, a long-time investor.
Exclusive Investment Terms Set by OpenAI
If OpenAI meets its revenue goal next year, Thrive will be the only investor with the sole right to put $1 billion more into the company at the same price.
An interesting turn of events occurred when OpenAI informed participants that they were expecting exclusive donations. This meant that they were advised not to invest in rival companies like xAI and Anthropic, according to people who spoke with the Financial Times (via New York Post).
Silicon Valley Disrupted by OpenAI’s Strategy
In Silicon Valley, where VCs often back numerous companies in the same industry for the sake of maximizing their returns, this request stands out.
"Because the round was so oversubscribed, OpenAI said to people: ‘We’ll give you allocation but we want you to be involved in a meaningful way in the business so you can’t commit to our competitors," the source informed the FT.
Musk’s Ongoing Battle with OpenAI
Musk left OpenAI in 2015, the year it was co-founded, due to a difference in opinion on the company's future. He is presently suing OpenAI, claiming that Altman and his associates "intentionally courted and deceived" him into providing over $44 million during the startup's initial years.
