Including The tracked-40 roster, Funding timeline, Valuations, Catalyst calendar, Latest news + videos, Talent moves, and Patent activity.
Already subscribed?
Isomorphic Labs, a Google DeepMind spinout, describes its Isomorphic Drug Design Engine for predicting protein-drug interactions; raised $2.1B and partnered with Novartis and Eli Lilly.
Public roster companies · forecast from SEC filings
Nothing on the calendar yet.
Public claims with deadlines
Hearings · rulings · statutory deadlines
Nothing on the calendar yet.
Numbers without precedent in frontier tech: the 2026 median is $600M and the year already counts $26.6B across 11 rounds, anchored by xAI's $20B Series E at $230B. Even first rounds are giant — Thinking Machines raised a $2B seed in mid-2025, Hark a $700M Series A at $6B. The $25M median seed year of 2022 is ancient history.
Late and unlabeled growth rounds dominate — 19 of 32 deals since 2025 — while classic venture stages thin to two Series As and a single seed, and that seed was Thinking Machines' $2B. China's listings opened a new exit lane: MiniMax and Zhipu AI both IPO'd in early January 2026, raising $620M and $558M a day apart.
Nvidia is the defining lead of the cycle — xAI's $20B, Reflection's $2B, and Reka inside seven months — alongside Andreessen Horowitz's five leads. The new money is strategic and sovereign: Autodesk led World Labs' $1B, Schwarz Group took Cohere at $20B, GIC co-led Harvey. Early backers Khosla and Lux haven't led since September 2024.
Where the sector convenes
Talent + spinout pipeline