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OpenAI Aims to Raise $30B, Valuation at $1.4T

Private company fundraising this week was led by Instinct's $1B round and notable capital injections into edge AI, data security, brain‑computer interfaces, and real‑estate technology.This week's private company news:Coinbaseisaccess to primary financial markets by bringing initial public offering allocations to U.S. retail traders. Beginning with Oura's IPO this week, eligible customers can request shares at the offer price before open-market trading starts. Users will be able to request allocations directly in the Coinbase app. IPOs are offered via Coinbase Capital Markets. "This is the next step in growing the Everything Exchange as a trusted platform to trade any asset at any stage of its lifecycle," the company said.OpenAI aims to raise at least $30B from investors in a new round of funding, according to people familiar with the matter, after the artificial intelligence startup pushed back its plans for an initial public offering, Bloomberg's Rebecca Torrence, Ed Ludlow and Shirin Ghaffary reports. The company is seeking a valuation of around $1.4T, not including the money raised, said the people, potentially vaulting it back above longtime rival Anthropic's most recent private market valuation.The head of Hypertec Group says data center developer 5C Group may go public as it ramps up its project pipeline, Bloomberg's Mathieu Dion. 5C builds and operates large-scale AI data center campuses in North America. The company formed when Hypertec Cloud spun out of Hypertec Group and acquired 5C Data Centers in 2025, the author notes. "Realistically, the growth trajectory we've seen makes it so we're absolutely considering an IPO," Hypertec Chief Executive Officer Simon Ahdoot said at the Bloomberg Canadian Finance Conference in New York. "That's something that I expect will be in further discussions after we close the current round of financing." Since 2025, 5C has secured more than $1.4B in funding, including equity financing led by Brookfield Asset Managementand debt financing led by Deutsche Bank. Hypertec remains the largest shareholder.Some of the biggest capital raises by private companies this week include:Instinct– The company "building a personal agent for everyday life" announced that it has raised an additional $1B in its latest round from Sequoia Capital, Benchmark Capital, and Coatue to bring useful AI to everyone. Publicly-traded companies operating in the same space include Alphabet, Apple, and Microsoft.SiMa.ai– The Physical AI company announced $150M in Series C financing, bringing the total capital raised to $500M and valuing the company at $1.45B. The round was co-led by Fidelity Management & Research Company and Amplify. Publicly-traded companies operating in the same space include Nvidia, AMD, and Intel.Cyera– The company announced a $400M extension from Growth Equity at Goldman Sachs Alternatives to its Series G, led by Evolution Equity. Publicly-traded companies operating in the same space include Palo Alto Network, CrowdStrike, and Zscaler.Precision Neuroscience– The brain-computer interface technology company announced that it has closed an oversubscribed $250M Series D financing round, co-led by Pershing Square, the Ackman Oxman Institute, and an undisclosed leading life sciences investment fund. Publicly-traded companies operating in the same space include Medtronic, Abbott, and Boston Scientific.Homeward– The cash-backed real estate financing solutions company announced $120M in equity financing and $330M in asset-backed debt facilities. The new capital will expand Homeward's cash offer and bridge financing solutions, enhance the technology powering its integrated home buying and selling platform, and accelerate growth nationwide across the 48 contiguous states. Publicly-traded companies operating in the same space include Opendoor, Zillow, and Redfin.Unicorns to watch this week:Bedrock Robotics– The autonomous construction‑equipment developer continues to scale after its $270M Series B, which set its valuation at $1.8B. Bedrock is pushing deeper into automated excavation and site‑prep systems as construction robotics adoption accelerates. Publicly-traded companies operating in the same space include Caterpillar, Deere, and Trimble.Spirit AI– The Beijing‑based company, focused on humanoid robotics and physical‑intelligence foundation models, is valued at $1.5B. Spirit AI is part of China's fast‑moving humanoid robotics wave, with growing interest in AI‑native locomotion and manipulation systems. Publicly-traded companies operating in the same space include Tesla, Rockwell Automation, and Intuitive Surgical.AI² Robotics– The company which builds intelligent robots for industrial and service‑sector deployment, holds a valuation of $1.4B. AI² Robotics is expanding its platform for autonomous manipulation and warehouse‑grade robotics. Publicly-traded companies operating in the same space include Teradyneand iRobot.Galaxea AI– The humanoid robotics startup is valued at $1.4B, positioning itself within the emerging class of AI‑driven general‑purpose robots. The company is developing systems that blend embodied AI with high‑dexterity hardware. Publicly-traded companies operating in the same space include Tesla, Nvidia, and Rockwell Automation.Revel– The company which provides testing and control software for aerospace, defense, and robotics, is valued at $1B. Its platform is gaining traction as demand rises for integrated simulation and verification tools across advanced manufacturing and defense systems. Publicly-traded companies operating in the same space include PTC, Keysight, and Palantir.IPOs to watch:Anthropic– The company is now planning to hold its IPO in November, which is later than the October listing expected by investors,'s Corrie Driebusch, Anissa Gardizy, and Kate Clark, citing people familiar with the matter. The report states that a delayed listing would allow the company to share its Q3 results and show its strong competitive position. Anthropic also intends to meet with investors in the coming days, and the meetings are expected to help the company and its bankers gauge investor appetite for the offering, WSJ noted.Nscale Limited– The company has filed with the SEC for an initial public offering of its ordinary shares. The company intends to apply to list its ordinary shares on the New York Stock Exchange under the symbol "NSCL". Goldman Sachs, J.P. Morgan, Morgan Stanley are listed as the lead bookrunners.Altera Corporation– Altera announced that its parent company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public offering of its common stock. "The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed public offering remains subject to the completion of the SEC review process, as well as market and other conditions," Altera stated. Altera, which provides high-performance, programmable compute and connectivity solutions, is backed by Silver Lake and Intel.Brooks Automation– The company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.Aggreko– The company has applied to list its ordinary shares on the New York Stock Exchange under the symbol "AGKO." No amount has been given.CALM Chain– The company has filed for an initial public offering of 5M Class A ordinary shares, representing 24.39% of the company's total Class A ordinary shares issued and outstanding following completion of the offering. The company is offering, on a firm commitment basis, 5M Class A ordinary shares. Following the completion of the offering, 24.39% of the Class A ordinary shares issued and outstanding will be held by public shareholders, assuming the underwriter does not exercise the over-allotment option. The company expects the initial public offering price for the offering will be between $5.00 and $7.00 per Class A ordinary share and it plans to list its Class A shares on the Nasdaq Capital Market under the symbol "CCIL"."Private Markets" is The Fly's recurring series of stories on the latest moves in the private sector, largest unicorn companies and initial public offerings to watch. Fly subscribers, add $PRIVATE to your portfolio for alerts on breaking news in the startup and venture capital space.

Stocks Fall as Fed Raises Rates, S&P 500 Drops 0.45%

Stocks fell toward their lowest levels since July as the Federal Reserve signaled the possibility of further policy tightening after raising rates for the first time since 2023. Equities erased gains, with the S&P 500 dropping 0.45% and the Dow Jones Industrial Average losing over 1% after the Federal Open Market Committee voted unanimously to increase the benchmark rate to a range of 3.75% to 4%. The Fed's "dot plot" that signals members' view of the outlook for the path of monetary policy suggests one more hike may be coming this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has held early conversations with investors about raising another private funding round at a $1.2T valuation before its planned IPO,SK Hynixis in talks with Intelabout a deal to manufacture memory chips in the U.S. for the first time,Appleis developing an enterprise AI server using its own chips and potentially Nvidianetworking equipment,Starbucksis exploring a sale of a majority stake in its Japan business,Trucker J.B. Huntissued abeing hurt by higher costs2. WALL STREET CALLS:Alvotechfrom Underweight at BarclaysStellantisfrom Buy at BerenbergSimilarwebfrom Hold at NeedhamExpediafrom Equal Weight at Morgan StanleyCiti opened anon Metaahead of the company's Connect conference on September 233. AROUND THE WEB:Nvidia, MetaCEOs argue against AI slowdown, FT reportsMucinex and Lysol maker Reckitt Benckiserplans to invest about $400M more over the next four years in the U.S. to speed up product innovation and demand response, WSJ reportsChicago District Judge John Tharp dissolved a previous order that required multiple listings service provider Midwest Real Estate Data to temporarily maintain Zillow'saccess to listings, Reuters saysMetaplans to release a camera-free pair of smart glasses this fall, The Information reportsGoogleis giving all its engineers access to Anthropic's Claude Opus 5 via Antigravity, and says "Gemini remains our primary and foundational model for internal development," Business Insider says4. MOVERS:GE Vernovaafter the power equipment company said it expects to grow to a $200B backlog early next yearTormafter announcing Hafniahas agreed to acquire 4.5M of its sharesBloom Energyafter releasing "The New Rules of AI Power" reportBraskemafter UBS downgraded the stock to SellBorr Drillingafter providing an operational update5. EARNINGS/GUIDANCE:Cienaannouncedout to fiscal year 2029Huntington Bancsharesfor FY27Mercury Systemsfor FY27Trip.comreported, with CEO Jane Sun commenting the company delivered a "resilient performance" in Q2Ispire Technologyreported, with EPS and revenue higher year-over-yearINDEXES:The Dow fell 631.21, or 1.21%, to 51,461.90, the Nasdaq lost 3.15, or 0.01%, to 25,978.42, and the S&P 500 declined 33.92, or 0.45%, to 7,551.81.

Stocks Inch Higher as Markets Assess Rate Hike Impact

Stocks inched higher on Wednesday morning, pausing the week's pullback as markets assessed how the economy may fare against higher interest rates. The Federal Reserve is expected to raise interest rates by 25 basis points later today, although the summary of economic projections - or "dot plot" - is likely to show a fragmented FOMC as uncertain outlooks spark disagreements on policy and forward guidance. Hawkish concerns were further stoked with the release of strong retail sales and soaring import inflation figures this morning.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has held early conversations with investors aboutround at a $1.2T valuation before its planned IPO, Financial Times saysSK Hynixis in talks with Intelabout a deal toin the U.S. for the first time, Reuters reportsAppleis developing anusing its own chips and potentially Nvidianetworking equipment, The Information saysStarbucksisof a majority stake in its Japan business, Reuters reportsTrucker J.B. Hunton Q3 earnings being hurt by higher costs2. WALL STREET CALLS:Alvotechto Overweight from Underweight at BarclaysStellantisto Hold from Buy at BerenbergSimilarwebto Buy from Hold at NeedhamExpediawith Underweight from Equal Weight at Morgan StanleyCiti opened an "upside" on Metaahead of the company's Connect conference on September 233. AROUND THE WEB:Nvidia, MetaCEOs argue against AI slowdown, FT reportsMucinex and Lysol maker Reckitt Benckiserplans to invest about $400M more over the next four years in the U.S. to speed up product innovation and demand response, WSJ reportsChicago District Judge John Tharp dissolved a previous order that required multiple listings service provider Midwest Real Estate Data to temporarily maintain Zillow'saccess to listings, Bloomberg saysMetaplans to release a camera-free pair of smart glasses this fall, The Information reportsGoogleis giving all its engineers access to Anthropic's Claude Opus 5 via Antigravity, and says "Gemini remains our primary and foundational model for internal development," Business Insider says4. MOVERS:Beta Bionicsincreases after announcing aTormgains in New York after announcing Hafniahas4.5M of its sharesBloom Energyhigher after"The New Rules of AI Power" reportBraskemfalls after UBSthe stock to SellBorr Drillinglower afteron the Odin5. EARNINGS/GUIDANCE:LuxExperiencewith EPS lower year-over-yearHuntington Bancsharesfor FY27Mercury Systemsfor FY27Trip.com, with CEO Jane Sun commenting the company delivered a "resilient performance" in Q2Ispire Technology, with EPS and revenue higher year-over-yearINDEXES:Near midday, the Dow was up 37.94, or 0.07%, to 52,131.05, the Nasdaq was up 210.74, or 0.81%, to 26,192.31, and the S&P 500 was up 33.90, or 0.45%, to 7,619.63.