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Crypto

Morpho raises $175 million for on-chain lending protocol

On-chain lending protocol Morpho raised $175 million in a funding round co-led by Paradigm, a16z Crypto and Ribbit Capital, The Block reported. Apollo Fund, Circle Ventures, VanEck, Ledger Cathay, Wintermute Ventures, SBI Group and France\'s state investment bank also participated. The investment was structured as token purchases. Morpho said it offers a blockchain-based lending market where users can create lending pools by setting their own risk parameters.

AI & Enterprise

Snowflake agentic OS-style strategy gains traction, AI brand overhauled

Snowflake on June 1 held its annual Snowflake Summit 2026 in San Francisco and unveiled a range of new products targeting the AI agent market, while revamping its branding. It renamed Snowflake Intelligence to CoWork and rebranded its coding agent Cortex Code as CoCo. The company highlighted an Agentic Control Plane and introduced tools including Datastream, Horizon Context and Cortex Sense, along with new connectors and performance improvements.

AI & Enterprise

Snowflake CEO says per-user pricing will lose justification in AI era, expand to control plane

Cloud-based data platform Snowflake posted first-quarter revenue growth of 33 percent from a year earlier, its fastest pace in two years, and its shares jumped more than 50 percent in five days. CEO Sridhar Ramaswamy said the Cortex Code coding agent is being used by more than 7,100 accounts and that Snowflake Intelligence accounts more than doubled from the prior quarter. He also outlined a control plane strategy and backed usage-based AI pricing.