Top stories today:

1. iRobot files for bankruptcy after restructuring deal
2. OpenAI said to scrap 6-month equity vesting cliff for new hires
3. OpenEvidence said to raise $250M at $12B post-money valuation
4. SpaceX insider sale said to peg valuation at $800B ahead of 2026 IPO
5. Mira Murati’s Thinking Machines Lab launches Tinker API
6. Elon’s X said to post Q3 revenue +17% YoY to $752M, EBITDA +16%

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. iRobot files for bankruptcy after restructuring deal with Chinese supplier

• China’s Shenzhen PICEA Robotics and its subsidiary will take over the robot maker.

• iRobot’s common stock will be wiped out under the proposed Chapter 11 plan.

• iRobot will continue operating as a going concern, according to the filing.

• 2022: Amazon offered $1.4B to acquire iRobot, but the deal collapsed after regulatory pushback in the EU.

2. OpenAI said to scrap 6-month equity vesting cliff for new hires

• Last week: OpenAI reportedly informed staff of the change.

• The move could help retain new hires, removing the requirement that employees work at least six months before equity begins vesting.

• Apr.: OpenAI previously shortened its vesting cliff from 12 months to six months.

• Elon Musk’s xAI made a similar change in late summer.

4. OpenEvidence said to raise $250M at $12B post-money valuation