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Asia to Join Global Equity Rally Before Jobs Data: Markets Wrap

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Shares in Asia were poised for early gains Friday after stocks and bonds rallied on Wall Street as further signs of a cooling labor market reinforced bets the Federal Reserve will cut rates this month.



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Funding & Business

Broadcom to Help OpenAI Design AI Chips

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Shares of Broadcom reached record highs after reporting revealed it will work with OpenAI to design and produce an artificial intelligence accelerator. Bloomberg Intelligence Analyst Kunjan Sobhani discusses the news with Caroline Hyde and Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)



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White House, Lawmakers Face Challenging Funding Negotiations

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Missouri Republican Congressman Jason Smith, who also serves as the chair of the House Ways and Means Committee, says that he is ‘disheartened’ by the conversations between democrats and republicans around rescissions, as the deadline for a new government funding agreement looms later this month. (Source: Bloomberg)



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Funding & Business

Anthropic Leads A Busy Week For Big Deals

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Want to keep track of the largest startup funding deals in 2025 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.

Investor enthusiasm for AI once again drove the bulk of funding for the week’s largest rounds, led by Anthropic’s $13 billion mega-financing. However, companies across a number of industries attracted large investments, including biotech, security and medical devices.

1. Anthropic, $13B, generative AI: San Francisco-based generative AI unicorn Anthropic raised a $13 billion Series F round at a $183 billion valuation, making it the fourth-most valuable private company in the world, per Crunchbase data. Iconiq Capital led the round, with Fidelity Management & Research Co. and Lightspeed Venture Partners co-leading.

2. Sierra, $350M, enterprise AI: Sierra, a provider of AI-enabled customer experience technology, raised $350 million at a $10 billion valuation. The San Francisco-headquartered company was founded in 2023 by former Salesforce 1co-CEO and current OpenAI board chair Bret Taylor and former Google executive Clay Bavor.

3. Treeline Biosciences, $200M, biotech: Watertown, Massachusetts-based Treeline Biosciences, a developer of medicines for cancer and other serious diseases, announced the close of a $200 million Series A extension round, bringing total funding to $1.1 billion, per Crunchbase data. The 4-year-old company also says it will begin trials for multiple cancer drugs.

4. (tied) Enveda Biosciences, $150M, drug discovery: Enveda, a startup that is working to discover new drugs by studying the chemistry of plants, raised $150 million in a Series D led by Premji Invest. The financing set a unicorn valuation for the 6-year-old, Boulder, Colorado-based company.

4. (tied) Baseten, $150M, AI: Baseten, a provider of technology for AI application developers, raised $150 million in a Series D led by Bond. The round brings funding to date for the San Francisco-based startup to $285 million, per Crunchbase data.

6. (tied) Galvenize Therapeutics, $100M, medical devices: Galvenize Therapeutics, a developer of pulsed electric field therapies for oncology and chronic lung disease, secured a $100 million Series C round. Sofinnova Partners led the financing for the Redwood City, California-based company.

6. (tied) You.com, $100M, AI: You.com locked up $100 million in Series C funding at a $1.5 billion valuation, led by Cox Enterprises. The Palo Alto, California-based company develops AI infrastructure with an eye to helping agentic AI applications access the information they need.

8. (tied) Exa, $85M, AI search: Exa, a startup that bills itself as the search engine for AI, picked up $70 million in Series B funding at a $700 million valuation. Benchmark led the financing for the 4-year-old San Francisco-based company.

8. (tied) Augment, $85M, AI logistics: San Francisco-based Augment, developer of an AI tool called Augie that was built to handle shipments for the logistics industry, landed $85 million in a Series A round led by Redpoint.

10. (tied) Shift5, $75M, cybersecurity: Arlington, Virginia-based Shift5, developer of an intelligence platform for U.S. defense and transportation systems, closed on $75 million in a Series C financing led by Hedosophia.

10. (tied) Mojo Vision, $75M, micro-LED technology: Mojo Vision, developer of a flexible micro-LED platform for use in multiple industries, raised $75 million in what it called a Series B Prime funding round. Vanedge Capital led the financing for the Cupertino, California-based company.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Aug. 30-Sept. 5. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration: Dom Guzman


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