OpenAI abandons plan to become a for-profit company & Microsoft has officially discontinued Skype.
OpenAI agrees to buy Windsurf for $3 billion & Google accidentally reveals Android’s design language.
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Today’s Picks: Financial model, VC backgrounds, o3 model, legal docs, web3VC shift, valuation guide, Ryan Hoover on funds, VC interview tips, AI search, ship faster, VC vs PE, market size, data room guide.
Google accidentally reveals Android’s design language.
OpenAI nonprofit will retain control of its for-profit arm under new PBC structure.
Apple reportedly wants to split up the iPhone’s release schedule.
Microsoft has officially discontinued Skype.
OpenAI agrees to acquire coding assistant Windsurf for $3 billion.
Tariffs cost Apple $900M last quarter, but no price hikes (yet).
Elon Musk to continue lawsuit against OpenAI despite nonprofit control decision.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
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STARTUPS RAISING MILLIONS
💰 Startup funding updates
Anysphere, a San Francisco, CA-based builder of an AI coding assistant called Cursor, reportedly raised $900m in funding at around a $9 billion valuation. The round was co-led by Thrive Capital with participation from Andreessen Horowitz and Accel.
diio, a Chilean AI-native sales assistant platform provider, raised $2.5M in seed funding. The round was led by Base10 Partners.
Solena Materials, a London, UK-based biomaterials company developing new protein fibres for high-performance, raised $6.7M in funding. Backers included Sir David Harding, SynBioVen and Insempra.
Rainmaker Technology, an El Segundo, CA-based water precipitation enhancement startup, reportedly raised $25m in Series A funding. According to Axios, the round was led by Lowercarbon Capital with participation from Starship Ventures, 1517 Ventures, Long Journey Ventures, Garry Tan, and Naval Ravikant.
Ace Aquatec, a Dundee, UK-based welfare-first aquaculture technology company, raised £10M in funding. The round, which consisted of a £7.5M in equity funding plus an additional £2.5M debt facility, was led by Stolt Ventures, with participation from Scottish Enterprise and Aqua-Spark.
Hilo (fka Aktiia), a Neuchatel, Switzerland-based blood pressure intelligence platform provider, raised $42m (over CHF 34m) in Series B funding round. The round, which brought the total financing to date above $100m, was led by Earlybird Health and Wellington Partners, with new investors Kfund and naturalX Health Ventures, and participation from existing investors redalpine, Khosla Ventures, Molten Ventures, Translink Capital and Verve Ventures.
Atlas Data Storage, a South San Francisco, CA-based technology company building end-to-end DNA data storage solutions, raised $155m in seed financing. Backers included ARCH Venture Partners, Deerfield Management, Bezos Expeditions, Tao Capital Partners, Rsquared VC, Earth Foundry, In-Q-Tel (IQT), and others.
Alta Resource Technologies, a Boulder, CO-based company using biochemistry for mineral separation, raised $4.4M in Seed 2 funding. The round, which brought the total amount of the Seed to $10M, was co-led by DCVC and Voyager Ventures with participation from Orion Industrial Ventures and In-Q-Tel (IQT).
Windfall Data, a San Francisco, CA-based provider of people intelligence and AI-workflow solutions, raised $65M in Series B funding. The round was led by Morgan Stanley Expansion Capital.
Recraft, a San Francisco-based AI image generator startup, raised $30M in a Series B round led by Accel. The round also saw participation from Khosla Ventures and Madrona.
HistoIndex, a Singapore-based company developing imaging solutions for biological tissues, raised SGD9M in funding. The round was led by OCBC with participation from ZIG Ventures and SEEDS Capital.
Skillvue, a Milan, Italy-based provider of an AI-based platform for HR-related processes, raised $6.3M in funding. The round was led by 360 Capital, with participation from previous lead investors Italian Founders Fund and 14Peaks Capital, alongside co-investment from Orbita Verticale.
NEW VCs IN THE MARKET
🏦 Venture Capital updates
Intel Capital, the venture arm of Intel, will remain internal after all, reversing earlier plans to spin it out as an independent firm. Intel CEO Lip-Bu Tan announced during the company’s Q1 earnings call that Intel Capital will instead focus on monetizing its existing portfolio and make selective new investments aligned with Intel’s strategic goals. The decision halts a previously announced spinout that was slated for Q3 2025.
KEY STORIES IN TECH
📜 Latest in tech
Google accidentally reveals Android’s design language:
Google is set to introduce “Material 3 Expressive,” an evolution of its Android design language, focused on emotional, bold UI elements that improve usability and performance.
A leaked blog post highlights research showing expressive design enhances accessibility, especially for older adults, and improves user engagement.
The update will debut at Google I/O, where developers will get access to emotional design tools, alpha code, and guidance on adapting their apps.
OpenAI nonprofit will retain control of its for-profit arm under new PBC structure:
OpenAI has reversed its plan to become a full for-profit entity and will instead transition its business arm into a public benefit corporation (PBC), controlled by the original nonprofit.
The move follows pressure from civic leaders, attorney generals in California and Delaware, and critics like Elon Musk, who sued the company for allegedly abandoning its nonprofit mission.
CEO Sam Altman acknowledged OpenAI may require “trillions of dollars” to achieve its mission and confirmed the nonprofit will remain the majority shareholder in the restructured organization.
Apple reportedly wants to split up the iPhone’s release schedule:
Information from supply chain sources indicates Apple might change its usual iPhone launch timing, possibly beginning with the iPhone 18 series anticipated around 2026 and 2027.
Under the proposed new system, premium Pro iPhone versions would maintain their autumn debut, while the standard base models could be delayed until the subsequent spring season.
This potential strategic shift could see the iPhone 18 Pro models unveiled in fall 2026, followed by the base iPhone 18 and other variants possibly arriving in spring 2027.
Microsoft has officially discontinued Skype:
Microsoft has officially discontinued its long-standing communication service, Skype, directing current account holders towards its primary platform, Microsoft Teams, for future interactions and collaboration needs.
Launched in 2003 and later purchased by the tech giant in 2011, the popular application faced increasing rivalry and saw participant numbers dwindle compared to newer alternatives.
People using the retired service have until January 2026 to transfer their account details and chat history to Microsoft Teams or export their information before it gets permanently erased.
OpenAI agrees to acquire coding assistant Windsurf for $3 billion:
OpenAI has agreed to acquire AI coding tool Windsurf (formerly Codeium) for around $3 billion, marking its largest acquisition to date, according to Bloomberg.
The deal, which has not yet closed, comes shortly after Windsurf was in talks to raise funding at a similar valuation with backers like General Catalyst and Kleiner Perkins.
The acquisition is expected to boost ChatGPT’s coding capabilities amid intensifying competition in AI-assisted software development.
Tariffs cost Apple $900M last quarter, but no price hikes (yet):
Apple paid $900 million in increased tariffs last quarter, mostly impacting AppleCare and accessories, yet still reported record Q1 earnings of $1.65 per share.
CEO Tim Cook said Apple is mitigating tariff impact by shifting iPhone production to India and Mac production to Vietnam.
Cook didn’t announce any product price increases and said Apple continues to engage with policymakers on tariff policy.
LAST COFFEE SIP
☕Other news
Elon Musk to continue lawsuit against OpenAI despite nonprofit control decision:
Elon Musk will proceed with his lawsuit against OpenAI, his lawyer confirmed, despite the company’s recent decision to retain nonprofit control of its for-profit business.
OpenAI announced that its nonprofit parent would continue overseeing the for-profit arm and become a major shareholder, a move aimed at easing regulatory and public scrutiny.
Musk’s lawsuit, which challenges OpenAI’s shift away from its founding mission, is still on track for a jury trial scheduled in March 2026.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & startup job opportunities
Venture Scout - First Momentum Venture | Remote - Apply Here
Visiting Investment Analyst - Vorwerk Ventures | Germany - Apply Here
Innovation Program Manager - Caret Capital | India - Apply Here
New Investment Manager - Techstars | USA - Apply Here
Venture Capital Analyst - 137 Venture | USA - Apply Here
Venture Capital Partner - Iron Key | Remote - Apply Here
Visiting Analyst - Alstin Capital | Germany - Apply Here
Investment Analyst - Endiya Partners | India - Apply Here
Program Manager - Techstar | USA - Apply Here
Internship - Aroya Venture Partner | India - Apply Here
Principal - Fitch Group | USA - Apply Here
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