Welcome back Chronicler!

We’re back from a very long break, and boy do we have things planned for 2026. A break is always good. Especially when you have no idea where you’re taking this newsletter. But at least some clarity now for the next 12 months. Let’s get back to business.

Trouble in paradise as Anthropic locked horns with Washington, putting billions in AI contracts under scrutiny just as Pittsburgh launched a CEO-calling blitz to lure startups, energy VC slipped behind AI in the capital race, and policy cash flooded into election-year AI regulation battles.

Meanwhile, mega-rounds once again crowned AI and chips, with record capital pouring into compute, semiconductors and core infrastructure, reinforcing that the biggest checks still back the backbone of the AI economy.

Plus: 5 AI tools for VCs, Vessel, and JOBS JOBS JOBS!

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 1,821 of you ♥️

With Love,
Kev

THIS WEEK IN VENTURE CAPITAL & TECH

  1. Anthropic’s showdown with the U.S. government puts over $60B in VC-backed AI investment at risk. A high-stakes dispute with the Department of Defense over licensing has led the White House to ban federal agencies from using Anthropic’s technology, imperiling future defense contracts and marking an unprecedented political risk for one of the AI sector’s marquee private companies, a situation that could ripple across VC portfolios heavily weighted toward AI infrastructure and foundational models.

  2. Pittsburgh’s tech recruitment blitz signals new competition for startup hubs. The city’s newly elected mayor has personally cold-called 150+ tech CEOs to pitch relocation or expansion to Pittsburgh, leveraging affordability and AI/robotics talent from local universities. This aggressive ecosystem play could reshape talent flows, especially as emerging hubs compete with traditional VC magnets like SF or NYC.

  3. Energy venture capital could be losing ground to AI. A new report highlights that traditional energy tech startups are seeing funding decline as capital reallocates toward artificial intelligence ventures, a shift that may have consequences for climate-tech and deep tech strategies in VC firms.

  4. AI policy influence spending is shaping up as a major political battleground ahead of elections. Tech billionaires, pro-AI interests, and AI safety advocates are pouring tens of millions into super PACs to shape AI regulation at the federal and state level, signaling that policy will be a defining issue for technology strategy and thus for venture ecosystems.

  5. Europe’s tech narrative shifts toward genuine growth after years of headwinds. Analysts note that Europe’s established tech companies are now nurturing a new generation of high-growth startups, countering a long period of lag behind the US and potentially setting the stage for stronger VC momentum in 2026.

FUNDRAISING CORNER
The largest deals that you should know about

This week’s mega-rounds were once again led by AI and chips, with capital pouring into compute giants, semiconductor sovereignty and core infrastructure. The message is clear: the biggest checks keep flowing to those building the foundational layers of the AI economy.

OpenAI | $110 B | Strategic Investment
OpenAI secured a colossal $110 billion private funding round anchored by Amazon ($50 b), Nvidia ($30 b) and SoftBank ($30 b), setting a new benchmark for private tech fundraising globally and reinforcing its leadership in AI infrastructure and compute services.

Rapidus Corporation | $1.7 B | Strategic Funding
Japanese advanced semiconductor developer Rapidus closed a ¥267.6 billion (~$1.7 billion) funding round involving government and private investors to boost domestic chip production capacity and compete with global foundries.

World Labs | $1 B | Growth Financing
Spatial AI pioneer World Labs raised $1 billion to accelerate development of foundational 3D AI models that generate and interact with real-world environments, backed by AMD, Nvidia, Fidelity and others.

Vero Networks | $500 M | Growth Equity
Vero Networks captured a $500 million growth investment from Hamilton Lane, Braemont Capital and Delta-v Capital to expand its fiber broadband and infrastructure footprint across underserved regions.

MatX | $500 M | Series B
MatX secured $500 million in Series B financing led by Jane Street and Situational Awareness to scale its next-generation data and situational awareness platform, targeting enterprise and defense sectors.

AI SPOTLIGHT: TOOLS FOR VCs

🤖 OVI: AI-powered CV screening and interviews
🧠 Hebbia: AI that scans full data rooms instantly.
🗺️ Anara: Turns research into connected knowledge maps.
🤝 Affinity: AI-driven CRM for smarter warm intros.
🎥 Synthesia: Generate portfolio and LP videos at scale.

PRESENTED BY VESSEL

Emerging managers need to look institutional from day one. Established firms need to maintain a premium LP experience without adding headcount.

Here's how it works: you build your deck, show up to meetings, and get LPs to commit to your fund. Vessel handles everything else, researching LP prospects, building your data room, running KYC/AML at closing, acting as your fund admin, and keeping LPs informed with automated reporting from data collection to report-ready.

Leading firms like General Catalyst use Vessel to stay focused on investing while we take care of the rest.

See how leading firms are raising faster and delivering a premium LP experience.

FROM X
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OPEN VENTURE CAPITAL JOBS
The latest jobs curated just for you

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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