Morning Scan

The AI IPO queue is moving fast. OpenAI filed confidentially, Anthropic filed last week, SpaceX lists Thursday, and Perplexity has 2028 in view. Apple spent the week at WWDC redefining what "AI" means on its own terms, Google and Nvidia included.

$4B — Cursor's annualized revenue run rate, crossed in the last week alone, up from $2B in February — and the AI coding tool is reportedly heading toward a SpaceX acquisition anyway. (Forbes)

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Connected World

OpenAI Files Confidentially for IPO, Following Anthropic

Goldman and Morgan Stanley are advising, timing is still "up in the air," and the AI public market is about to get a stress test it didn't ask for. (TechCrunch)

Perplexity CEO: IPO in 2028, Whatever Happens With OpenAI and Anthropic

Aravind Srinivas is content to let the bigger players go first and absorb the market's mood — disciplined, or just patient. (CNBC)

As OpenAI Files for IPO, Sam Altman's Eye-Scanning Company Is Doing Layoffs

Tools for Humanity is reportedly struggling to generate revenue — awkward timing for a founder who just filed for the biggest tech IPO in years. (TechCrunch)

NinjaOne Hits $12.3B Valuation in Secondary Sale, Up from $5B in February 2025 (paywall)

IT management is unglamorous, but $600M ARR and a 2.5x valuation jump in 16 months commands attention. (Bloomberg)

Connected World

Google and Nvidia Are Powering Apple's Foundation Model Cloud Pro

Apple's cloud AI runs on Nvidia GPUs and leans on Google infrastructure, which complicates the "all-Apple" on-device story further up the stack. (CNBC)

Apple's On-Device Foundation Models Are Pure Apple, Not Gemini

On-device inference is Apple's own architecture; cloud-tier AI is where the Google and Nvidia relationships live. (AppleInsider)

iOS 27 Code Has Clear Signs a Folding iPhone Is Coming Soon

Developers digging into the beta found subroutines tracking fold angle — the kind of thing you don't build speculatively. (AppleInsider)

macOS 27 Requires Apple Silicon, Ending the Intel Mac Era

Telegraphed since last year, but now final: if your Mac has an Intel chip, this is the last stop. (Ars Technica)

Apple Intelligence Will Auto-Change Your Compromised Passwords

Agentic AI that actually does something annoying and useful — detecting a breach and updating the credential without you lifting a finger. (Gizmodo)

Connected World

Iceye Raises €1B Series F at €10B Valuation for Real-Time Satellite Intelligence

Finland's SAR satellite operator is valued like a defense prime now — General Atlantic led, and demand for persistent location monitoring shows no sign of slowing. (Resilience Media)

China's Alibaba, CXMT, and Others Launch $577M Fund for "Hard Tech" Amid US Export Curbs

"Patient capital" is the framing — a deliberate signal that this is a long-game response to US chip restrictions. (South China Morning Post)

Isar Aerospace Raises €270M — Now It Just Has to Reach Orbit

Europe's best-funded rocket startup has the ambition and now the runway; its Spectrum rocket still hasn't left the ground successfully. (The Next Web)

Amazon Employees Ask Seattle to Halt New Data Centers for a Year

Amazon's own workers petitioning the city council to pause their employer's infrastructure expansion is the kind of story that tends to travel. (The Verge)

Meta Puts $115M Into a Free Program to Train Data Center Construction Workers (paywall)

Five weeks, a job guarantee at a Meta construction site, no tuition — the AI infrastructure buildout now requires its own labor pipeline. (Wall Street Journal)

Donut Lab's Solid-State Battery Claims Debunked by Ziroth

Extraordinary battery claims require extraordinary evidence, and the gap between a press release and peer review is doing a lot of work in this industry. (The Verge)