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Last week Dow Jones lost 3.1%, S&P 500 fell 2.3%, and Nasdaq was down 2.4% — all three major indices hit six-month lows during the week. Autonomous trucking startup Kodiak Robotics, is in talks to merge with Ares Acquisition Corp. II in a SPAC deal that would result in a post-merger valuation of US$2 billion. Klarna eked out a slim US$21 million profit last year after a series of annual losses following an international expansion into the U.S. according to the Company’s pre-IPO filing. Hinge Health has officially filed to go public. Anthropic reached $1.4 billion in annualized revenue as of this month. Binance, the world’s biggest crypto exchange, announced it has received a US$2 billion investment from MGX. Mortgage firm Rocket agreed to buy Redfin at a valuation of US$2.4 billion, a 50% premium. Google announced two new AI models to power robots, built on top of its most recent main Gemini model. Meta is reportedly testing in-house chips for AI training. In Canada, in news pertaining to Sophic Capital clients, Kraken Robotics expanded its U.S. footprint with the acquisition of 3D at Depth. Kraken will indirectly acquire 3D at Depth for US$17 million in cash subject to adjustment for, among other things, any debt indirectly assumed or paid out on closing and to customary working capital adjustments. 3D at Depth has grown revenue at a 20% CAGR over the last three years and reported 2024 unaudited US GAAP revenues of US$14 million, gross profit of US$8.4 million (60%), and US$1.1 million of Operating Income. Plurilock secured a $1.4 million contract with the Canadian Federal Government. The Company also provided an update on the status of exercised Warrants. Over 22 million of $0.25 warrants have been exercised, raising more than $6 million. The remaining $0.25 warrants could bring over $2 million in additional funds. In other Canadian news, Toronto based Cohere is partnering with LG to offer AI products for South Korea. Toronto-based construction technology startup Augmenta has secured an additional US$10 million in seed funding to refine and expand its building design software.

Last week, Dow Jones fell 2.4%, S&P 500 was down 3.1%, and Nasdaq composite lost 3.45%, major indices continue to chop around in a headline-driven market. Genesys, a private equity-backed customer service software company, delayed what would have been one of the largest 2025 IPO, citing a sliding stock market. Gemini, the crypto exchange founded by billionaire twins Cameron and Tyler Winklevoss, has filed confidentially for an IPO. Discord, the social messaging app, is in early talks with bankers about an IPO. Humanoid robotics firm ‘Figure’ is planning to raise US$1 billion to US$2 billion in equity financing at a US$38.5 billion pre-money valuation. That’s a staggering 15 times its valuation from a year ago. Anthropic, announced Monday that it has raised US$3.5 billion in its Series E funding round, hitting a US$61.5 billion valuation including the new money. CrowdStrike shares dropped nearly 9% in extended trading on Tuesday after the cybersecurity software provider issued disappointing earnings guidance. Broadcom’s latest quarterly results, boosted shares more than 11% in after-hours trading. Trump signed an executive order to build a Bitcoin reserve — crypto prices dropped following the announcement, because the stockpile will only involve the government maintaining existing crypto holdings. OpenAI reportedly plans to charge up to US$20,000 a month for specialized AI ‘agents’. Taiwan Semiconductor Manufacturing Company plans to invest US$100 billion in new chip manufacturing facilities in the U.S. In Canada, Spectra7 Microsystems will be acquired by Parade Technologies. Shareholders could receive a special cash distribution of ~$0.028/sh. In news pertaining to Sophic Capital clients, Beacon Securities launched research coverage of Intermap) with $4.00/share price target. Legend Power debuted its voltage adherence risk metric to identify and combat “dirty power” in buildings.