Lambda, an Nvidia-backed AI computing startup, is raising up to $4 billion at a $14.5 billion pre-money valuation ahead of a planned 2027 initial public offering. The funding round is led by Coatue and Blackstone. Source
Mistral AI, a French AI laboratory, has released Mistral Large 4, a new large multimodal model designed to compete with both American and Chinese rivals in the frontier AI race. Source
Former Ramp engineers have raised $20 million for Melius, a platform shifting focus from its original product that helped marketers manage ad spend. The company is now building tools to generate creative assets and campaigns instead. Source
OpenAI has revealed solutions to numerous long-standing mathematics problems produced by an unreleased frontier model in a batch of 722 manuscripts covering 372 result families, extending a run of breakthroughs that has both impressed and unsettled parts of the mathematical community. Source
Google is restricting free access to its Gemini models starting October 9th, limiting free users to the Flash Lite model. Users will need a $4.99 per month Google AI Plus subscription to access the standard Flash model and other higher-tier options. Source