Deal Club

Figure AI

Investment Focus: General-Purpose Humanoid Robotics Powered by an In-House AI Control Model * Latest Round: $1.0B (Series C, Sep 2025), led by Parkway Venture Capital * Last Round Valuation: $39.0B post-money * Market Implied Value: $35.7B indicative secondary estimate (-10% to last round) * Founded 2022 | HQ San Jose, California | CEO

By Grzegorz Koscielniak • 3 min read

Deal Club

Perplexity AI

Investment Tagline: Invest in the Leading AI-Native Answer Engine and Agentic Browser Challenging Traditional Web Search * Industry: Artificial Intelligence / Search Engine * Total Raised: $1.9bn (as of Sep 2025) * Headquarters: San Francisco, California, USA * Last Primary Valuation: $20.0bn (as of Sep 2025) * Founded: 2022 * Market Implied Value (secondary, Aug

By Grzegorz Koscielniak • 4 min read

Deal Club

Anduril

Company overview. Founded in June 2017 by Palmer Luckey (creator of the Oculus Rift VR headset), Trae Stephens, Matt Grimm, Joseph Chen and Brian Schimpf, Anduril Industries is a Costa Mesa, California-based defense technology company seeded by Founders Fund. Its core platform, Lattice, is an AI-driven software system that fuses

By Katarzyna Lomnicka • 2 min read

papers

OpenAI’s $5.5B Bet on AI Infrastructure

Power Has Become the New Gold in Artificial Intelligence AI may look weightless on a screen, but behind every chatbot response sits very physical machinery demanding land, buildings, chips, cooling systems, and above all, electricity. This hidden reality is reshaping the economics of advanced AI. The most powerful models are

By Grzegorz Koscielniak • 5 min read

papers

Unitree’s $4,900 Humanoid Robot Lowers the Cost Barrier for Embodied AI

A Humanoid Robot Finally Has a Mainstream Price Tag The shock isn't that a humanoid robot exists. The real shock is the number attached to one. A functioning humanoid platform at $4,900 changes everything emotionally. What once sounded like a moonshot purchase now sounds like something a

By Grzegorz Koscielniak • 5 min read

papers

Lambda’s $926M AI Infrastructure Financing Milestone

AI Compute: From Startup Bet to Critical Infrastructure Behind every AI breakthrough sits a mountain of hardware: GPU servers, advanced networking, vast data-centre space, and enormous electricity consumption. AI is no longer a software trend. It is becoming an infrastructure business, and that changes everything. Invest in top private AI

By Grzegorz Koscielniak • 5 min read

papers

Instinct’s $2.5B Bet on Action-Oriented AI Agents

The Moment the Market Realized AI Wanted a Job Something important changed when investors poured $250 million into a young company still in private beta, pushing its valuation to $2.5 billion — up from roughly $500 million just weeks earlier. This was not excitement over another chatbot. It was a

By Grzegorz Koscielniak • 4 min read

papers

Anthropic’s MHS Pushes AI Into the Physical World

A New Language for Machines The next great leap in AI is moving into the real world, where machines mix chemicals, move robotic arms, and manage tools worth millions. The hardest part of automation has rarely been intelligence — it has been translation. Every piece of equipment speaks its own language,

By Grzegorz Koscielniak • 6 min read

papers

Erebor: Banking the AI Infrastructure Boom

The New Gold Rush: Money Powering AI Beneath every headline-grabbing AI innovation sits something quieter but equally important: specialized financial support. A new financial layer is emerging around the AI economy—not building chatbots or designing chips, but funding the physical backbone of the AI age: servers, power systems, manufacturing

By Grzegorz Koscielniak • 4 min read