Kuaishou reports Q3 revenue up 14% YoY to ~$5B and net profit up 37% YoY to ~$632M, above ~$588M est., driven by ad growth and its Kling AI video generator (Sherry Qin/Wall Street Journal)

Elon Musk's AI company xAI is reportedly in advanced discussions to raise $15 billion in funding, which would elevate its valuation to $230 billion, according to the Wall Street Journal. This funding round reflects the company's rapid growth and ambition in the artificial intelligence sector.

AI music platform Suno has successfully raised $250 million in funding, led by Menlo Ventures, bringing its valuation to $2.45 billion, a significant increase from approximately $500 million in 2024. The company also reported an annual revenue of $200 million, indicating strong financial growth and market presence.

Adobe has announced plans to acquire Semrush, a company listed on the NYSE that specializes in search engine optimization, for $1.9 billion in cash, paying $12 per share. This acquisition comes as the demand for AI-driven solutions in digital marketing continues to rise, with Semrush providing essential tools for businesses like Amazon and TikTok.

Crypto miners, particularly IREN, are transitioning to AI data centers as demand for artificial intelligence surges. IREN's stock, which fell to approximately $1 in 2022, has skyrocketed by 300% in 2025, resulting in a market capitalization exceeding $13 billion. This shift highlights the growing intersection between cryptocurrency mining and AI technology.

A recent audit of 186,000 articles from 1,500 American newspapers reveals that approximately 9% of newly published articles are partially or fully AI-generated. This use of AI is more prevalent in smaller, local newspapers and specific topics like weather and technology. Additionally, opinion pieces from major publications such as the Washington Post, New York Times, and Wall Street Journal are 6.4 times more likely to contain AI-generated content compared to standard news articles. Despite its growing presence, AI usage in journalism is rarely disclosed.

xAI, the artificial intelligence startup founded by Elon Musk, is reportedly in advanced discussions to raise $15 billion, which would elevate its valuation to $230 billion. This marks a significant increase from the $113 billion valuation reported following its merger with X in March 2025. The funding is crucial as xAI aims to enhance its Grok chatbot, which has been rapidly consuming cash in its development efforts.

OpenAI and Intuit have entered into a multiyear agreement expected to generate over $100 million in revenue for OpenAI. This partnership will enhance Intuit's utilization of OpenAI's models and facilitate the launch of ChatGPT applications. Intuit aims to broaden the reach of its products, including TurboTax and QuickBooks, to a wider audience, leveraging OpenAI's advanced AI capabilities.

Lambda, a company that rents access to AI chips, has successfully raised $1.5 billion in a Series E funding round led by TWG Global. This follows a previous fundraising effort in April 2024, where the company secured $500 million. With this latest round, Lambda's total funding has reached $2.3 billion. The funds will be utilized to build its own data centers, as the demand for AI infrastructure continues to grow.