Industry leading AI news, data and model intelligence scoring. 📩 Daily AI newsletter: thelatent.co/newsletter
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THE LATENT: AI coding startup Cognition is on track to reach $1 billion in annualized revenue based on its performance this month, roughly doubling from $492 million in May, according to Bloomberg.
The maker of Devin raised $2 billion earlier this month at a $48 billion valuation, up from $26 billion roughly three months earlier.
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ANTHROPIC NOW ALLOWS USERS TO BUILD AND SUBMIT PLUGINS FOR CLAUDE: COMPANY WEBSITE
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THE LATENT: President Trump says Treasury Sec. Scott Bessent will not be his administration's AI czar, following reports this week that he was emerging as a frontrunner for the role.
"Number One, he doesn’t want to. Number Two, he’s doing such a great job at Treasury, and that’s where I want to keep him! Why would I ever make such a change?" Trump wrote Friday in a Truth Social post.
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THE LATENT: A federal appeals court upheld the Pentagon’s decision to cut Claude out of its supply chain after Anthropic refused to loosen restrictions on lethal autonomous warfare and domestic surveillance.
The court said those limits could leave the military unable to rely on Claude when it needs it.
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THE LATENT: Cipher Digital says a 10-year extension at its Barber Lake AI data center in Texas will add about $5.2 billion in contracted revenue, bringing the total to more than $9 billion.
An unnamed AI lab has committed to take over the site after Fluidstack’s initial lease ends. $CIFR
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THE LATENT: AI infrastructure firm Nscale has raised $3.36 billion in pre-IPO convertible financing led by Third Point.
Nvidia committed $1 billion to the round, with the funds expected to arrive by mid-November.
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THE US AND CHINA HAVE ESTABLISHED THE AI CRISIS MECHANISM TRUMP PITCHED TO XI: US AMBASSADOR TO CHINA ON FOX
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THE LATENT: Cathie Wood argues that AI's rapidly falling inference costs are driving an unprecedented increase in AI usage and revenue, setting up a productivity boom that could push global economic growth toward 7% while also driving down inflation.
"The surprise is going to be how rapid the growth is going to be, and we're seeing it already from the AI companies," Wood told CNBC on Friday.
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NEW: TypeSafe AI is in talks to raise over $1 billion at a valuation exceeding $10 billion, The Information reported.
The developer of the Jev model emerged from stealth with $40 million in seed financing last week, reportedly valuing it at $200 million.
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THE LATENT: Anthropic has signed an $11.6 billion multi-year cloud agreement with Akamai to support its growing CPU workloads.
The deal could expand by another $9 billion, bringing Anthropic's total potential commitment to about $20 billion. Akamai shares rose more than 21% in after-hours trading following the announcement. $AKAM
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ANTHROPIC SEEKS SPECIAL CLASS VOTING SHARES FOR ITS CEO AND SIX COFOUNDERS, GIVING THEM COLLECTIVE GOVERNANCE CONTROL: THE INFORMATION
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THE LATENT: Democratic Sens. Mark Warner and Brian Schatz introduced a bill that would put forth safety and security standards for advanced AI systems.
"Our bill is about making sure humans remain in control of AI models and preventing future breaches with rigorous standards, testing, and oversight," Schatz said. "Immediate risk requires immediate action."
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