Valida Pau

Italian software conglomerate Bending Spoons has agreed to acquire productivity platform Airtable for $1.285 billion, representing an 88% decline from its $11 billion valuation in 2021. The deal marks a significant markdown for a startup that raised over $1.3 billion from prominent venture investors including Benchmark. The acquisition reflects the broader contraction in valuations for high-growth software companies since the pandemic peak.

CyrusOne, a data center operator owned by KKR and BlackRock's Global Infrastructure Partners, is preparing for what could be one of the largest IPOs next year by interviewing investment banks. The company was taken private in early 2022 for $15 billion. The IPO would allow the private equity owners to cash out while enabling CyrusOne to pay down debt accumulated during data center expansion.

Nscale, a UK-based AI cloud provider backed by Nvidia, is preparing for an IPO that could value the company in the multibillion-dollar range. The startup is meeting with investors and has scheduled an investor day in New York next week, working with Goldman Sachs and JP Morgan on the offering. An IPO could happen as soon as fall 2026, though the company retains the option to delay amid current market volatility.

AlphaSense, a 15-year-old provider of AI-powered search and market research tools for financial institutions and enterprises, has surpassed $700 million in annual recurring revenue with 40% year-over-year growth. The company is working with advisers on a potential IPO in the coming months, following a recent funding round that valued it at $7.5 billion. The move signals confidence in the company's market position and growth trajectory in enterprise AI software.

OpenRouter, a three-year-old startup that helps developers access multiple AI models, is in discussions about a potential acquisition valued at billions of dollars, well above its previous $1.3 billion valuation. The company has experienced surging business this year as developers seek cost-effective ways to run various models, including open-source alternatives. The takeover interest reflects broader market appetite for infrastructure that simplifies AI model selection and deployment.

Anthropic is negotiating with banks to secure credit lines worth several billion dollars ahead of its planned 2026 IPO. The new facilities would supplement the $2.5 billion five-year revolving credit line the company obtained last year. This move follows a common pre-IPO pattern where companies expand credit capacity with banks that often serve as IPO underwriters.

Salesforce is acquiring Fin, a customer AI agent startup formerly known as Intercom, for $3.6 billion. The deal represents an 80% premium over Fin's last $2 billion valuation and signals Salesforce's push to strengthen its enterprise AI capabilities. The acquisition aims to help Salesforce compete for customer adoption of its own AI offerings.

Qualcomm is in negotiations to acquire Tenstorrent, an AI chip design startup, for between $8 billion and $10 billion, according to sources with direct knowledge of the deal. The acquisition would represent a significant premium over Tenstorrent's previous valuation and would expand Qualcomm's capabilities in AI and data center chips. Deal terms remain fluid, with discussions ongoing and the potential for performance-based payments similar to past chip startup acquisitions.

Zum, a Sequoia Capital-backed electric school bus startup operating in Los Angeles and San Francisco, is interviewing investment banks as it takes early steps toward an IPO. The move signals investor appetite for companies in non-AI-disrupted sectors, even as the market focuses on high-profile tech debuts like SpaceX.

Nvidia has acquired Kumo AI, a five-year-old enterprise predictive AI software startup, for more than $400 million. The deal expands Nvidia's portfolio of AI models optimized for its hardware and available for enterprise customization. Nvidia's executive announced the acquisition via LinkedIn on Tuesday.

SpaceX is targeting a $1.75 trillion valuation for its upcoming initial public offering, which includes greenshoe shares available if demand is strong. The company aims to raise at least $75 billion in the IPO, which is scheduled to begin its roadshow next week. The valuation falls short of earlier reports suggesting the company could seek up to $2 trillion.

Blackstone is consolidating its growth equity business into a new unit called BXN1 focused on AI-related investments, according to an internal memo. Jas Khaira, head of Americas for tactical opportunities, is relocating from New York to San Francisco to lead the effort. The move signals the firm's strategic pivot toward AI as a core investment thesis, though the article notes that growth chief Korngold has departed, suggesting organizational restructuring around this new focus.