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Apple joins forces with Google’s Gemini to supercharge Siri without splurging billions, Shopify coins “agentic commerce” after AI orders soar 11×, and WhatsApp finally lands on Apple Watch.

Meanwhile, Altman and Nadella sound the alarm on AI’s power crunch, Microsoft bets $15.2B on the UAE’s AI ascent, and deep-tech keeps flexing with $500M in fresh rounds from Hippocratic AI to Harvey AI.

Plus: 5 AI tools for VCs, 30 VC jobs, and a reminder: Good founders grow, with or without VC money

As always, thank you for subscribing and engaging week-in week out with this newsletter, it is still a work in progress but I appreciate all 1,445 of you ♥️

With Love,
Kev

THIS WEEK IN VENTURE CAPITAL & TECH

  1. Apple Inc. is reportedly teaming up with Gemini-maker Google to build a custom Gemini-based model that will power the next-gen Siri voice assistant. The model will run on Apple’s private cloud to retain the Apple ecosystem’s data-control and branding, while the deal gives Apple a faster track to close the gap with rivals in AI assistants… Without deploying a massive cash pile to fund it. Brilliant.

  2. Shopify reports that traffic from AI-powered tools to its stores has grown 7× since January, and orders attributed to AI-search have surged 11×. The company calls this “agentic commerce” and says AI is now “central to our engine” rather than just a feature.

  3. FINALLY! WhatsApp has launched a dedicated app for the Apple Watch, allowing users to read and reply to chats, send voice messages, view images and message reactions—all directly from their wrist. The app runs on Apple Watch Series 4 or newer with watchOS 10+, and while it still depends on the iPhone for connectivity, it brings the wearable experience much closer to a full messaging solution.

  4. Uh oh… Sam Altman and Satya Nadella admit they don’t really know how much electricity the AI boom will need. They’re racing to deploy massive AI infrastructure, yet power supply is lagging so severely that chips are piling up unused. This puts the sector on shaky ground. If energy forecasts miss, investors and infra could be left with stranded assets.

  5. Microsoft is investing $15.2 billion in the UAE, turning the Gulf nation into a testbed for U.S. AI diplomacy. The deal with G42 brings Nvidia chips, new data centers, and AI training for locals, cementing the UAE as a key hub for American AI influence in the region.

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FUNDRAISING NEWS

This week’s VC activity was defined by deep-tech conviction and enterprise AI muscle, as five late-stage rounds collectively crossed US$500 million. From safety-focused AI agents in healthcare to next-gen chipmaking tools and grid-scale robotics, investors like Avenir Growth, GIC, and Founders Fund doubled down on capital-intensive plays shaping the backbone of tomorrow’s infrastructure, both digital and physical.

🧠 Hippocratic AI | $126M Series C | $3.5B Valuation

Hippocratic AI, a healthcare-AI company developing safety-first generative agents for hospitals and patients, raised $126 million in a Series C round at a $3.5 billion valuation. The round was led by Avenir Growth, with participation from CapitalG (Google), Andreessen Horowitz, General Catalyst, Kleiner Perkins, Premji Invest, and major health systems such as Universal Health Services and Cincinnati Children’s.

⚙️ Substrate | $100M Round | $1B Valuation

Substrate, a semiconductor manufacturing startup building next-gen laser-based lithography tools to rival ASML, raised $100 million at a $1 billion valuation. The round included Founders Fund, General Catalyst, and In-Q-Tel.

⚡ Infravision | $91M Series B

Infravision, an aerial-robotics company modernising power-grid construction and maintenance, secured $91 million in a Series B round led by GIC, with participation from Activation Capital, Hitachi Ventures, and Energy Impact Partners.

💼 Human Interest | $100M+ Round | $3B Valuation

Human Interest, a 401(k) and retirement-plan platform for SMBs, raised over $100 million, bringing its valuation to $3 billion. Investors included Baillie Gifford, BlackRock, Marshall Wace, Morgan Stanley Tactical Value, and TPG.

⚖️ Harvey AI | $150M Round | $8B Valuation

Harvey AI, a legal-tech startup using generative AI to automate workflows for global law firms, raised $150 million at an $8 billion valuation. The round was said to include OpenAI Startup Fund, Sequoia Capital, and Kleiner Perkins, though public confirmation remains pending.

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FROM LINKEDIN

Our favorite post from LinkedIn this week, The VC Anti-thesis by Columbia University - The data doesn't lie:

Everyone talks about VC backed startups, but 85% of IPOs and acquisitions in the United States happen without Venture Capital. Oh boy.

Christian Catalini, Scott Stern, from MIT Sloan School of Management and Jorge Guzman from Columbia dive into Venture Growth with or without venture capital and analyzed millions of US business to uncover how firms grow without VC money.

🥧 Key Insights:

🚨Founding signals matter: Short names, Delaware registration, and patents predict growth odds, regardless of where your funding source comes from.

😳 The "VC effect" is smaller than we actually think. After controlling for firm quality, the increase in probability of IPO or acquisition that comes from VC funding is actually 6x not 400x as many bad VCs suggest.

👨‍💻Ok say it with me. GOOD FOUNDERS FIND A WAY! Firms in the top 0.05% of predicted "VC-likelihood" were only 2.3x more likely to grow with VC than without. Meaning GOOD founders can scale just as fast through bootstrapping or other forms of funding.

For every founder out there, VC money is accelerant, and not a necessity. DNA of a company is visible from day 1.

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OPEN VENTURE CAPITAL JOBS

Here's what you've been waiting for: exciting job opportunities! To maximize your chances, remember these key tips:

That’s it for today, hope you enjoyed this as much as I did curating it, see you next week!
-Kev

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