PitchBook data for the second quarter shows that AI startups captured 87.5% of all venture funding, leaving the remaining sectors to compete for a sharply smaller share of capital.
7:32 AMFortune10 stories from 4 sources
AI captured the venture market and reset startup valuations
Day’s Recap
Supporting Articles
Thrive Holdings raised $2 billion at a $12 billion valuation from investors including SoftBank, D1 Capital Partners, and Alimeter Capital. The OpenAI-backed company plans to use the funding to expand its effort to bring artificial intelligence into enterprise operations.
1:41 PMTechCrunch
Lovable raised another $400 million at a $13.3 billion valuation after reporting $500 million in annualized run-rate revenue in June. The financing reflects the rapid growth of its AI-powered software development business.
12:04 PMTechCrunch7:32 AMFortune
87.5% of venture dollars went to AI. The rest fought over scraps
Summary
PitchBook data for the second quarter shows that AI startups captured 87.5% of all venture funding, leaving the remaining sectors to compete for a sharply smaller share of capital.
The venture market has split into an AI financing boom and a funding drought for
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI's dominance is reshaping startup survival odds and narrowing the pool of companies that can raise growth capital.
1:41 PMTechCrunch
OpenAI-backed Thrive Holdings raises $2B to bring AI to the enterprise
Summary
Thrive Holdings raised $2 billion at a $12 billion valuation from investors including SoftBank, D1 Capital Partners, and Alimeter Capital. The OpenAI-backed company plans to use the funding to expand its effort to bring artificial intelligence into enterprise operations.
A $2 billion round at this valuation gives Thrive Holdings the resources to pursue enterprise
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI infrastructure and applications are attracting megadeals as investors bet that enterprise adoption will become the sector's next growth engine.
12:04 PMTechCrunch
Lovable confirms new $13.3B valuation, raises another $400M
Summary
Lovable raised another $400 million at a $13.3 billion valuation after reporting $500 million in annualized run-rate revenue in June. The financing reflects the rapid growth of its AI-powered software development business.
Lovable's revenue milestone is now driving a valuation measured against substantial commercial traction, not just
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI software startups are beginning to command multibillion-dollar valuations on the strength of rapidly scaling revenue.
Other Developments
A curated list of other prominent stories from this day.
Yuno raised $45 million in Series B funding to expand its AI-native operating system for global payments and financial services. Its platform gives enterprise merchants, banks and wallets access to more than 1,000 connections through a single API.
7:12 PMPYMNTS
Unwell, the media company founded by podcast host Alex Cooper, has secured an investment from Hollywood talent agent Patrick Whitesell at a valuation of $500 million, according to people familiar with the deal.
3:38 PMBloomberg Markets
AI coding startup Cognition is reportedly discussing a new funding round at a valuation of up to $40 billion, only months after raising $1 billion at a $26 billion valuation.
2:19 PMTechCrunch
ApartmentIQ raised $25 million from Susquehanna Growth Equity as its real estate intelligence platform surpassed coverage of 8 million units. The company says it is building tools that can analyze markets in real time, predict outcomes, and support decision-making.
1:59 PMPYMNTS
Cognition AI is discussing a funding round that could value the AI coding startup at least $40 billion, more than doubling its valuation in less than three months.
8:54 AMPYMNTS
Blacksmith says its revenue has grown more than tenfold over the past year, driving an almost tenfold increase in its valuation in less than 12 months.
7:00 AMTechCrunch
Several elite Bay Area schools have created small venture funds using donated capital, with parent-donors from Sequoia, Lightspeed, and Battery helping select early-stage startup investments. The model gives schools a new way to deploy philanthropic money as enthusiasm for startup exits returns.
3:02 AMFortune7:12 PMPYMNTS
Yuno Raises $45 Million to Drive Global Payments Push
Summary
Yuno raised $45 million in Series B funding to expand its AI-native operating system for global payments and financial services. Its platform gives enterprise merchants, banks and wallets access to more than 1,000 connections through a single API.
The funding gives Yuno capital to scale a unified infrastructure layer for cross-border payments. Its
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Payment orchestration is becoming a strategic layer as businesses seek simpler access to fragmented global financial networks.
3:38 PMBloomberg Markets
‘Call Her Daddy’ Host Raises Money at $500M Valuation
Summary
Unwell, the media company founded by podcast host Alex Cooper, has secured an investment from Hollywood talent agent Patrick Whitesell at a valuation of $500 million, according to people familiar with the deal.
The investment gives Unwell a valuation that places a creator-led media company alongside substantial venture-backed
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Creator businesses are attracting institutional valuations as investors bet that personal audiences can become broader media platforms.
2:19 PMTechCrunch
AI coding startup Cognition reportedly already in talks to raise at $40B valuation
Summary
AI coding startup Cognition is reportedly discussing a new funding round at a valuation of up to $40 billion, only months after raising $1 billion at a $26 billion valuation.
The potential repricing would lift Cognition's valuation by roughly 54% in a matter of months,
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI valuations are still accelerating faster than most startups can establish durable economics.
1:59 PMPYMNTS
ApartmentIQ Raises $25 Million For Real Estate Intelligence Platform
Summary
ApartmentIQ raised $25 million from Susquehanna Growth Equity as its real estate intelligence platform surpassed coverage of 8 million units. The company says it is building tools that can analyze markets in real time, predict outcomes, and support decision-making.
The funding gives ApartmentIQ capital to expand from data coverage into predictive and potentially automated
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Real estate software is moving from retrospective market reports toward real-time intelligence and predictive tools.
8:54 AMPYMNTS
Cognition AI Eyes $40 Billion Valuation From New Funding
Summary
Cognition AI is discussing a funding round that could value the AI coding startup at least $40 billion, more than doubling its valuation in less than three months.
The proposed valuation would place Cognition among the most highly valued private AI companies before
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A $40 billion deal would reinforce the concentration of venture capital and investor expectations around AI companies.
7:00 AMTechCrunch
AI code-testing startup Blacksmith’s valuation jumps almost 10x in less than a year
Summary
Blacksmith says its revenue has grown more than tenfold over the past year, driving an almost tenfold increase in its valuation in less than 12 months.
The valuation surge reflects investor demand for AI infrastructure that improves software development rather than
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The deal shows that AI startups serving core engineering workflows can command exceptional valuations when growth is both rapid and measurable.
3:02 AMFortune
Forget the gala, these Silicon Valley schools run their own venture capital funds
Summary
Several elite Bay Area schools have created small venture funds using donated capital, with parent-donors from Sequoia, Lightspeed, and Battery helping select early-stage startup investments. The model gives schools a new way to deploy philanthropic money as enthusiasm for startup exits returns.
The shift turns affluent school communities into informal investment networks, giving connected parents influence over
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Private-school fundraising is expanding into startup finance, potentially widening the advantage enjoyed by families already embedded in Silicon Valley.
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