Anthropic’s last company valuation is $965B from the May 28, 2026 $65B Series H. August secondary talk (Business Insider: traders as high as $1.5T) is not a company round. Keep Q2 revenue and the $65B July run-rate separate from that mark.
Cognition’s May 2026 Series D: over $1B at $26B after 13x run-rate growth to $492M. Superseded for latest print: September 8 Series E closed at more than $2B / $48B — see the Series E memo.
OpenRouter raised $113M Series B in May 2026, led by CapitalG. Stripe announced an acquisition on August 19, 2026 (not closed; $7.5B is press).
Newark Venture Partners co-led Human Archive’s $8.2M seed for physical-AI training data and backed Vulcan Elements’ rare-earth magnet Series A.
Three May deals show stablecoin capital splitting between EM neobanks, FI orchestration APIs, and AI-native banks — infrastructure, not speculation.
May funding shows capital stacking on AI infra — serverless GPU, retrieval search, world models, and enterprise delivery — not another wrapper.
