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Rounds, valuations, acquisitions and partnerships · who with whom · latest 8 below, 16 in the table

Oct 20, 2026Acquisition
OpenAI acquires Orchestra Bio
Acquires Orchestra Bio
openai.com (source, opens in a new tab)
Oct 8, 2026Funding
Arena Intelligence raises $200M Series B at $3.1B valuation
Series B · $200M at $3.1B valuation
arena.ai (source, opens in a new tab)
Sep 18, 2026Partnership
Accenture partnership on independent frontier-AI evaluation (≥$1B each over five years)
With Accenture · Research
anthropic.com (source, opens in a new tab)
Sep 8, 2026Funding
Mistral raises €3B Series D at ~€21B valuation
Series D · €3B at $24.4B valuation
reuters.com (source, opens in a new tab)
Sep 3, 2026Acquisition
NVIDIA to acquire Hugging Face for ~$12.9B
To acquire Hugging Face · $12.9B
Agreement to acquire Hugging Face for about $12.9B (incl. up to $1B retention equity); expected to close in H1 2027 subject to approvals.
blogs.nvidia.com (source, opens in a new tab)
Aug 17, 2026Partnership
NVIDIA guarantees up to $105B for OpenAI’s Ohio data-center campus
With SB Energy, OpenAI · Compute · $105B
Residual-value guarantee for OpenAI's 20-year lease of SB Energy's PORTS-Pike campus in Pike County, Ohio: 4.25 GW initially plus a 3.75 GW option, online from 2028. NVIDIA pays only on default; OpenAI must reimburse.
investor.nvidia.com (source, opens in a new tab)
Jul 29, 2026Funding
Moonshot AI raises $3.5B at $35B valuation^*
Round led by National AI Industry Investment Fund · $3.5B at $35B valuation
Reported $3.5B at about $35B, led by China's state-backed National AI Industry Investment Fund (Bloomberg). Straits Times reported a higher ~$45B valuation; not confirmed by Moonshot.
bloomberg.com (source, opens in a new tab)
Jul 21, 2026Partnership
Microsoft commits multiple billions to Mistral’s European GPU capacity
With Microsoft · Compute
reuters.com (source, opens in a new tab)

Latest 16 rounds & deals as a table

Date	Event	Type	Counterparty / round	Amount	Valuation	Source
Oct 20, 2026	OpenAI acquires Orchestra Bio Life-sciences acquisition announced on OpenAI's blog; terms not disclosed.	Acquisition	acquires Orchestra Bio	—	—	openai.com
Oct 8, 2026	Arena Intelligence raises $200M Series B at $3.1B valuation Arena (formerly LMArena) raises a $200M Series B at a $3.1B valuation, co-led by Lightspeed and Khosla; company says it has passed $100M annualised revenue and launches an Alignment Index.	Funding	Series B	$200M	$3.1B	arena.ai
Sep 18, 2026	Accenture partnership on independent frontier-AI evaluation (≥$1B each over five years) Accenture embeds evaluators at Anthropic; both companies expect to invest at least $1B in evaluation capacity over five years.	Partnership · research	with Accenture	—	—	anthropic.com
Sep 8, 2026	Mistral raises €3B Series D at ~€21B valuation Valuation ~€21B (≈$24.4B). Confirmed by Reuters and TechCrunch.	Funding	Series D	€3B	$24.4B	reuters.com
Sep 3, 2026	NVIDIA to acquire Hugging Face for ~$12.9B Agreement to acquire Hugging Face for about $12.9B (incl. up to $1B retention equity); expected to close in H1 2027 subject to approvals.	Acquisition	to acquire Hugging Face	$12.9B	—	blogs.nvidia.com
Aug 17, 2026	NVIDIA guarantees up to $105B for OpenAI’s Ohio data-center campus Residual-value guarantee for OpenAI's 20-year lease of SB Energy's PORTS-Pike campus in Pike County, Ohio: 4.25 GW initially plus a 3.75 GW option, online from 2028. NVIDIA pays only on default; OpenAI must reimburse.	Partnership · compute	with SB Energy, OpenAI	$105B	—	investor.nvidia.com
Jul 29, 2026	Moonshot AI raises $3.5B at $35B valuation^* Reported $3.5B at about $35B, led by China's state-backed National AI Industry Investment Fund (Bloomberg). Straits Times reported a higher ~$45B valuation; not confirmed by Moonshot.	Funding	Round led by National AI Industry Investment Fund	$3.5B	$35B	bloomberg.com
Jul 21, 2026	Microsoft commits multiple billions to Mistral’s European GPU capacity Microsoft will use Mistral Compute capacity in Europe and add Mistral models to Azure, Foundry and Copilot Studio; not a new equity investment (Reuters).	Partnership · compute	with Microsoft	—	—	reuters.com
Jun 22, 2026	Reflection AI signs ~$6.3B Colossus 2 compute deal with SpaceX Reflection gets NVIDIA GB300 capacity at Colossus 2 and pays $150M per month from July 1, 2026 through 2029 (~$6.3B if run to term); terminable with 90 days' notice after three months (CNBC, Reuters, WSJ).	Partnership · compute	with Reflection AI	$6.3B	—	cnbc.com
Jun 16, 2026	SpaceX to acquire Cursor maker Anysphere in $60B all-stock deal All-stock merger announced June 16, 2026 and closed August 14, 2026 per SpaceX SEC filings; Anysphere shareholders received about 389.3M SpaceX Class A shares. Cursor joins SpaceXAI's coding push.	Acquisition	acquires Anysphere (Cursor)	$60B	—	reuters.com
Jun 16, 2026	DeepSeek closes first external round of over $7B Per The Information via Reuters: >¥50B (~$7.4B) at a post-money valuation above $50B, with an unusual deal structure.	Funding	First external round	¥50B+	$50B	reuters.com
Jun 11, 2026	OpenAI to acquire Ona for secure cloud execution of Codex agents Ona's customer-controlled cloud environments let long-running Codex agents run inside an organisation's own cloud. Subject to regulatory approval.	Acquisition	to acquire Ona	—	—	openai.com
Jun 5, 2026	Google to pay SpaceX $920M a month for Colossus compute (~$30B through 2029) Per SpaceX's SEC filing: about 110,000 NVIDIA GPUs from October 2026 to June 2029, ramping through September at a reduced fee; either side may terminate after Dec 31, 2026 with 90 days' notice (CNBC, Bloomberg).	Partnership · compute	with Google	$30B	—	cnbc.com
May 28, 2026	Anthropic raises $65B Series H at $965B valuation Led by Altimeter, Dragoneer, Greenoaks and Sequoia; co-led by Capital Group, Coatue, D1, GIC, ICONIQ and XN. Includes $15B of previously committed hyperscaler investment, $5B of it from Amazon. Run-rate revenue had crossed $47B.	Funding	Series H	$65B	$965B	reuters.com
May 7, 2026	Moonshot AI raises $2B at $20B valuation in Meituan-led round About $2B at a $20B valuation in a round led by Meituan's Long-Z Investments, with Tsinghua Capital, China Mobile and CPE Yuanfeng (Bloomberg, TechCrunch, SCMP).	Funding	Round led by Meituan (Long-Z)	$2B	$20B	bloomberg.com
May 6, 2026	xAI to provide Anthropic with Colossus 1 compute SpaceXAI (xAI) agrees to provide Anthropic with access to its Colossus 1 cluster.	Partnership · compute	with SpaceXAI	—	—	x.ai

Sources: company announcements & release notes, press reports. * not independently verified.

Business Market & Competition

OpenAI and Anthropic Cut AI Model Prices Amid China Rivalry

OpenAI and Anthropic have drastically reduced flagship AI model API prices, with cuts reaching 80 percent, to compete against cheaper Chinese alternatives from DeepSeek and Moonshot. This shift is reshaping the economics of AI inference and application…

By

Christopher Ort

Oct 26, 2026