X Money launches US payment service to advance Musk's everything app vision

Volition Capital, a Boston-based growth equity firm, raised $950 million for its sixth fund, the largest in its 16-year history. The firm focuses on investing in bootstrapped startups that have generated millions in revenue without institutional backing. The fundraise brings Volition's total assets under management to $2.6 billion and reflects investor appetite for a contrarian strategy amid broader venture capital competition for pre-revenue startups.

Instinct, a year-old personal AI assistant startup that has gained traction with Silicon Valley users, is experiencing capacity constraints as demand outpaces its computing infrastructure. The company is seeking $1 billion in new funding after a recent $250 million raise, citing the need for more compute power to handle tasks like bill negotiation and email management. The funding push comes as Meta Platforms enters the personal AI assistant market, intensifying competition.

Shanghai Enflame Technology, a Chinese AI chip developer backed by Tencent, raised 6.12 billion yuan ($911 million) in its IPO and surged on its first trading day Friday. The strong market reception reflects investor appetite for domestic alternatives to Nvidia chips as China pursues semiconductor self-sufficiency. Enflame's debut signals growing confidence in homegrown AI hardware capabilities amid geopolitical tensions and export restrictions.

Italian software conglomerate Bending Spoons is acquiring whiteboarding platform Miro for $1.355 billion, marking a sharp decline from Miro's peak valuation of $17.5 billion. The deal represents Bending Spoons' latest acquisition at a significant discount, continuing the firm's pattern of purchasing software companies at reduced valuations. The transaction signals ongoing consolidation in the productivity software space and reflects broader market pressures on once high-flying SaaS companies.