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AI & Enterprise

Enterprise web browser developer Island raises $400 million at $6.4 billion valuation

Enterprise browser developer Island has raised $400 million in a Series F round, valuing the company at $6.4 billion, up $1.8 billion from its previous funding. The round was led by Evolution Equity Partners, with participation from institutional investors including JPMorgan, Sequoia Capital and Georgian. Island plans to use the proceeds for product development and market expansion and aims to hire 500 employees by mid-2027.

AI & Enterprise

Startups race to build in-house AI models as fintech joins in

Startups are accelerating efforts to develop their own AI models rather than rely on those from OpenAI and Anthropic, driven by cost pressures, a desire to cut dependence and a push for greater control. Legal AI startup Harvey launched an in-house model based on Moonshot AI’s open-weight Kimi K3 after its gross margin turned sharply negative. Healthcare, customer support, fintech, coding and design startups are also building or considering custom models.

AI & Enterprise

Personal AI agent Instinct seeks $1 billion funding at $10 billion valuation

Sphere Street Technology, developer of the personal AI assistant service Instinct, is seeking to raise $1 billion at an expected valuation of $10 billion. The Information reported the company is discussing funding led by Sequoia Capital and Benchmark, citing sources familiar with the matter. The report said the fundraising is not final and terms and lead investors could change. Instinct remains invite-only but has topped 100,000 users.