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Finance

U.S. Pentagon AI deputy who led Anthropic exclusion sells Perplexity and xAI stakes

Emil Michael, the U.S. Defense Department’s deputy undersecretary for research and engineering and chief technology officer, sold a stake in AI search startup Perplexity in June for $5 million to $25 million, according to reports citing disclosures. The sales followed earlier disposals of xAI and Brex stakes. The timing has drawn scrutiny because Michael played a key public role in the Pentagon process targeting Anthropic, while Perplexity and xAI compete for U.S. government AI contracts.

AI & Enterprise

Sierra acquires France AI startup Fragment

Customer-service AI agent startup Sierra has acquired French startup Fragment, TechCrunch reported on April 23 local time. Fragment helps companies integrate AI into their work flows. The terms of the deal were not disclosed. PitchBook estimates Fragment raised about $2 million in a seed round. The transaction is Sierra’s third disclosed acquisition. Sierra also bought Japan’s Opera Tech and voice-agent company Receptive AI in late March.

Industry

Coupang board draws attention after Trump taps its outside director as next Fed chair

Coupang’s board is in the spotlight after U.S. President Donald Trump nominated outside director Kevin Warsh as the next Federal Reserve chair. The company told the SEC its board has eight members spanning U.S. politics, finance and Silicon Valley. Warsh holds 444,126 Coupang shares and receives RSUs. Green Oaks founder Neil Mehta is a long-serving director, while Green Oaks has filed an investment dispute notice against South Korea.