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Top stories today:
- China’s Moonshot AI said to near funding round valuing it at ~$4B
- Sierra hits $100M ARR as AI startups tout revenue to win talent
- Elon’s X brings feature showing user location, raising privacy concerns
- Crypto slump wipes $1B from Trump family wealth
- Apple’s iOS 27 said to be Snow Leopard-style update focused on fixes
- OpenAI engagement tweaks coincided with delusional episodes
0. Data and calendar
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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. China’s Moonshot AI said to near funding round valuing it at ~$4B
IDG Capital is reportedly among investors in the talks.
The round could total $100M’s.
2025-end: Moonshot reported aims to close the funding round.
H2 2026: Moonshot’s IPO is said to be in discussion with some potential investors.
Aug. 2024: Moonshot raised $300M+ in a Series B round from investors including Tencent and Gaorong Capital.
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3. Sierra hits $100M ARR as AI startups tout revenue to win talent
Hundreds of millions have already used Sierra’s AI support agents, the company said.
Customers include SoFi, Wayfair, Ramp, and Rocket Mortgage.
Sierra signs 12-month to multi-year deals with 30-day payment terms, similar to Salesforce and ServiceNow.
4. Elon’s X introduces feature showing location of users, raising privacy concerns
Some users criticize X’s new About This Account feature as it even updates location information periodically:
