THE RUNDOWN

OpenAI has reportedly raised an additional $11 billion in a funding round that hasn't fully closed yet, pushing its valuation to a staggering $1.25 trillion — putting it in the same conversation as Apple and Microsoft. That money will almost certainly flow into more AI infrastructure and model development. Meanwhile, rival Anthropic is reportedly gearing up for its own IPO, so the race to dominate AI is about to get a very public scoreboard.

The New York Times is reporting that China's Ministry of State Security recruited a Megaspeed executive named Alice Huang to spy on Nvidia CEO Jensen Huang. It's a striking move that underlines just how much Beijing wants inside access to the chip giant at the centre of the global AI race. This comes as the US continues restricting advanced chip exports to China — clearly, some actors aren't waiting around for a trade deal.

Blockchain analytics firm Chainalysis says hackers stole credentials and tokens for all of its customers in what it's calling a 'multifront cyberattack' — one that reportedly used AI agents and an on-path data interception technique. That's a big deal given how many crypto exchanges, law enforcement agencies, and financial institutions rely on Chainalysis. If you care about digital security, this one is worth watching closely.

Security researchers found hundreds of servers hosting Artex — a penetration testing tool — completely exposed to the public internet, with no authentication required. That means anyone who found them could access a ready-made hacking toolkit. It's the kind of careless misconfiguration that keeps security teams up at night, and it's a reminder that the tools meant to test defences can become weapons when left unattended.

After months of DOJ scrutiny, Fox has officially closed its $22 billion purchase of streaming platform Roku. It's one of the biggest media deals in recent memory, and it hands Fox a direct pipeline into tens of millions of living rooms. For now, there's no word on major content changes — but don't expect that to last forever once the dust settles.

Meta is rolling out a feature called Spaces inside its Muse AI assistant, letting users build custom, app-like experiences — think interactive shopping tools, event planners, or productivity dashboards — all without writing a line of code. It's Meta's clearest signal yet that it wants Muse to be a platform, not just a chatbot. The push into agentic AI is heating up across the industry.

Democrats pulled off historic victories in this week's US midterm elections, and the tech world is already bracing for what comes next. Voters also weighed in on 41 data centre-related ballot measures, suggesting that the energy and land footprint of AI infrastructure is becoming a genuine political issue. Expect tighter scrutiny of AI regulation and data centre expansion over the next two years.

Eyewear brand Gentle Monster — one of Google's hardware partners — has confirmed that its 'Intelligent Eyewear' will be available for pre-order on November 12. Google hadn't officially announced this yet, which suggests its partners are having a hard time keeping the lid on what could be a serious push into consumer smart glasses. Given how the Meta Ray-Bans have been selling, the timing makes sense.

Iran has threatened to attack undersea internet cables if the US escalates military strikes, and reports indicate ships have already been loitering near some of those cables. These cables carry the vast majority of the world's internet traffic, including data flowing to and from Africa. It's a stark reminder that digital infrastructure has very real physical vulnerabilities — and geopolitics can reach them.

The US Department of Defense has conditionally approved a $250 million loan to battery materials startup 6K, to help it scale up a microwave-plasma manufacturing process for battery materials. It's part of a broader US effort to build domestic supply chains for critical tech components — and it signals that the Pentagon sees energy storage as a national security issue, not just a climate one.

That's your Saturday sorted. From trillion-dollar AI valuations to alleged espionage and exposed hacking tools, the tech world clearly didn't take the week off — and neither should you.