Robinhood CEO’s Math-Centric AI Firm Harmonic Climbs to $1.45B Valuation

HP has announced plans to lay off up to 6,000 employees by 2028 as part of a significant restructuring strategy focused on enhancing productivity through increased use of artificial intelligence and automation. This decision comes amid challenges related to rising chip costs.

The UK Labour government's Budget for 2025 emphasizes a commitment to support artificial intelligence (AI) and startups, although it lacks a cohesive digital strategy. This indicates a focus on innovation and technology as key components of economic growth.

Echelon Iberdrola Digital Infra has announced a significant investment of $2.3 billion to develop data centers in Spain, with the first project being the Madrid Sur complex, which will span 160,000 square meters and provide 144 MW of processing capacity.

Robinhood has announced plans to launch a futures and derivatives exchange in collaboration with Susquehanna by 2026, alongside acquiring MIAXdx, a firm that specializes in clearing and executing derivatives trades. This move is aimed at expanding Robinhood's offerings in prediction markets and enhancing its trading capabilities.

Harmonic, an AI math startup co-founded by Vlad Tenev, has successfully raised $120 million in a Series C funding round led by Ribbit, achieving a valuation of $1.45 billion and bringing its total funding to $295 million. This marks the company's third funding round in just 14 months, highlighting its rapid growth and investor confidence in its innovative approach to artificial intelligence focused on math and reasoning capabilities.

New York has introduced the RAISE Act, a legislative measure aimed at regulating frontier AI developers who invest over $100 million in training, mandating them to prevent critical harm and report safety incidents. This act reflects growing concerns about the safety and ethical implications of advanced AI technologies.

Google has indicated that the Google Assistant will be phased out in Android Auto by March 2026, as the company shifts focus towards its new AI model, Gemini. This transition marks a significant change in how users will interact with AI in their vehicles, moving away from the established Assistant framework.

Insurers are reducing coverage for artificial intelligence (AI) systems due to concerns over potential billion-dollar claims arising from AI errors. This shift reflects a growing unease among insurers about the financial implications of AI's integration into business operations.