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AI & Technology Update

Frontier models · Model comparison · Markets · Capital
Tuesday, 28 July 2026 · Hedge Research Desk
The Read
Nvidia's $5 billion bet on Ilya Sutskever's Safe Superintelligence — announced July 27 and paired with Vera Rubin compute access — crystallises a new pattern: chipmakers writing frontier-lab equity cheques to anchor their own hardware roadmaps.
Strategy · Execution · Growth
Claude Opus 596.0%new entryClaude Fable 595.0%independently confirmed by vals.aiClaude Mythos Preview93.9%restricted / Project Glasswing onlyAnthropicNew default on MaxxAIRoadmap only — not yet shippedGoogleNew default Gemini modelCompute$5bnFunding$74bn valuation (paused)Compute$725bn aggregate FY2026Claude Opus 596.0%new entryClaude Fable 595.0%independently confirmed by vals.aiClaude Mythos Preview93.9%restricted / Project Glasswing onlyAnthropicNew default on MaxxAIRoadmap only — not yet shippedGoogleNew default Gemini modelCompute$5bnFunding$74bn valuation (paused)Compute$725bn aggregate FY2026
Nvidia mkt cap (27 Jul)
~$4.8T
-4.95%
4-hyperscaler FY26 capex
$725bn
+77% YoY
Nvidia NVDA price (27 Jul close)
$196.61
-$10.23
Top coder
96.0%
Claude Opus 5
Compute
$5bn
deal
01

Frontier Models

The week across the frontier labs — new defaults, previews and open-weight releases — plus where the coding benchmarks stand.

AnthropicNew default on Max

Claude Opus 5 — Anthropic released Claude Opus 5 on July 24, 2026, describing it as delivering performance close to the top-tier Claude Fable 5 at half the price. The model ships with a 1M-token context window, 128k max output tokens, thinking on by default, and a per-turn effort toggle (low / medium / high) aimed at enterprise cost control. Priced at $5 / $25 per million input/output tokens — identical to Opus 4.8 — it becomes the new default on Claude Max and the strongest model on Claude Pro. · 24 Jul

Read → Axios · Fortune · Releasebot / Anthropic changelog
xAIRoadmap only — not yet shipped

Grok 4.6 / 4.7 (roadmap announced) — On July 25, 2026, Elon Musk posted on X that Grok 4.6 will arrive in approximately two weeks and Grok 4.7 two weeks after that, putting both models before end of August 2026. No technical specs, pricing, or model cards have been published by xAI. The announcement came one day after Claude Opus 5 shipped; Musk simultaneously claimed Grok 4.5 and Opus 5 are the only models on the current efficiency frontier, a claim not independently verified. · 25 Jul

Read → explainx.ai · NextBigFuture · basenor.com
GoogleNew default Gemini model

Gemini 3.6 Flash — Google released Gemini 3.6 Flash on July 21, 2026 as the new default workhorse in the Gemini family, alongside Gemini 3.5 Flash-Lite and Gemini 3.5 Flash Cyber in the same announcement. The model keeps a 1M-token context window, advances the knowledge cutoff to March 2026, uses ~17% fewer output tokens than 3.5 Flash, and runs at ~280 tokens per second. It scored 50 on the Artificial Analysis Intelligence Index and became available in GitHub Copilot on launch day. · 21 Jul

Read → DataNorth AI · callmissed.com / Google API docs
KimiOpen weights

Kimi K3 — Moonshot AI launched Kimi K3 on July 16, 2026 — a ~2.8-trillion-parameter Mixture-of-Experts model with a 1M-token context window, native vision, and two variants: K3 Max and K3 Swarm Max. It ranked 4th of 189 models on the Artificial Analysis Intelligence Index (score 57), on par with Claude Opus 4.8 and GPT-5.5, and led the Frontend Code evaluation. Full open weights were scheduled for release by July 27, 2026, making it described as the largest open-weight AI model released to date. · 16 Jul

Read → DataNorth AI · The Neuron Daily
xAICoding / agentic specialist

Grok 4.5 — xAI released Grok 4.5 on July 8–16, 2026, built on a 1.5-trillion-parameter V9 foundation and trained on real Cursor developer-session data. It handles 500K-token contexts at ~80 tokens per second and is priced at $2 / $6 per million input/output tokens — over 60% cheaper than Opus 4.8. It ranked 4th on the Artificial Analysis Intelligence Index, above all Gemini and open-weight models, and scored 29.0% on the SWE Marathon benchmark vs. Opus 4.8's 26.0%. · 8 Jul

Read → felloai.com · Releasebot / xAI
Coding LeaderboardSWE-bench Verified (self-reported vendor scores; BenchLM data verified 27 Jul 2026)
Claude Opus 5 Anthropic
96.0%
Claude Fable 5 Anthropic
95.0%
Claude Mythos Preview Anthropic
93.9%
Claude Opus 4.8 Anthropic
88.6%
Claude Opus 4.7 (Adaptive) Anthropic
87.6%
02

Model Comparison

The full AI Models Comparison dashboard — every category, factor weights, best-for and sources. Benchmark-anchored; ✅ verified · ⚠️ partial · ❓ released, not yet independently benchmarked. Wide tables scroll sideways.

V3.3 · benchmark-anchored · trimmed to the latest model generation (6 Jul 2026). Sub-scores are analytical mappings from public benchmarks — not vendor claims.
LLMs
Top score
93
Claude Fable 5 — SWE-V 95%
New OpenAI flagship
89
GPT-5.6 Sol — AA Index 59, coding #1
Open-weights leader
GLM-5.2
#1 open on AA Index (51) · SWE-Pro 62.1
Cheapest viable
$0.14
DeepSeek V4-Flash /1M in · SWE-V 79%
V3.3 — trimmed to the current generation
Removed old-generation tiers (Claude Haiku 4.5, Gemini 3.1 Pro / 3.1 Flash-Lite) — each is still that maker’s current model in the tier, so dropped for a latest-generation board, not deprecated. Gemini’s LLM entry is now 3.5 Flash (Pro tier temporarily empty, delayed ~17 Jul). Current Anthropic line: Fable 5 · Opus 4.8 · Sonnet 5.
Show score ≥
#ModelScoreBusiness useWeb researchPresentationLow halluc.CodingTool useDocsCost (in/out $)Open?Conf.
1Claude Fable 593● 95● 90● 93● 96● 97● 95● 94$10 / $50No✅
2Claude Opus 4.890● 93● 82● 91● 92● 93● 92● 93$5 / $25No✅
3GPT-5.6 Sol89● 90● 90● 88● 82● 92● 92● 90$5 / $30No✅
4Claude Sonnet 586● 90● 80● 88● 89● 89● 90● 90$3 / $15*No✅
5Kimi K2.686● 88● 92● 88● 95● 90● 94● 88$0.95 / $4.00Yes✅
6GLM-5.283● 78● 78● 76● 80● 88● 86● 76$1.40 / $4.40Yes✅
7Qwen 3.7-Max83● 80● 74● 78● 78● 86● 88● 76$1.25 / $3.75*No✅
8GPT-5.6 Terra82● 84● 84● 80● 80● 86● 85● 84$2.50 / $15.00No✅
9Grok 4.582● 78● 82● 76● 78● 86● 84● 76$2 / $6No✅
10Kimi K2.7-Code82● 78● 80● 76● 90● 93● 90● 78$0.95 / $4.00Yes⚠️
11GLM-5V-Turbo (vision)81● 78● 76● 82● 76● 90● 86● 82$1.20 / $4.00No⚠️
12Gemini 3.5 Flash81● 76● 88● 78● 80● 85● 82● 76$1.50 / $9.00No✅
13DeepSeek V4-Pro81● 78● 75● 76● 82● 86● 80● 78$0.44 / $0.87Yes⚠️
14MiniMax M378● 75● 88● 76● 75● 82● 80● 78$0.30 / $1.20Yes⚠️
15DeepSeek V4-Flash75● 70● 68● 68● 74● 82● 74● 70$0.14 / $0.28Yes✅
16MiMo-V2.5-Pro73● 72● 70● 72● 74● 80● 76● 74$0.44 / $0.87No✅
17GPT-5.6 Luna72● 72● 74● 70● 76● 74● 74● 72$1 / $6No✅
18ERNIE 5.172● 74● 72● 72● 74● 74● 72● 74$0.59 / $2.65No✅
19Qwen 3.7-Plus72● 74● 72● 74● 76● 82● 76● 74$0.32 / $1.28No⚠️
Cost = list API price, input / output per 1M tokens. ● colour: green ≥85 · amber 72–84 · grey 60–71 · red <60. Open? = open-weights availability.
Voice AI
Best Egyptian S2S
gpt-realtime-1.5
Grok Voice Agent close 2nd, 3× cheaper
Cheapest real-time S2S
$0.008/min
Gemini 3.1 Flash Live
Egyptian TTS confirmed
ElevenLabs v3
Only vendor confirming EG dialect
Cheapest Arabic STT
$0.10/hr
Grok STT — diarization + timestamps
Egyptian Arabic gate
Voice models are judged first on Egyptian Arabic quality (the top two weighted factors). Only ElevenLabs v3 explicitly confirms Egyptian dialect; others list generic "Arabic" and are flagged ⚠️. GLM-4-Voice is Chinese/English only and fails the Egyptian gate.
S2S — full real-time conversation (5 models)
Show score ≥
#ModelScoreEgyptian qualityNaturalnessEmotionCloningReal-time$/min audioConf.
1gpt-realtime-1.590● 95● 92● 85● 70● 85~$0.18–0.46/min⚠️
2Grok Voice Agent88● 95● 90● 85● 88● 95$0.05/min · 2-min clone✅
3gpt-realtime-mini80● 92● 85● 85● 60● 90$0.063–0.146/min❓
4Gemini 3.1 Flash Live78● 82● 86● 78● 0● 92~$0.008/min⚠️
5GLM-4-Voice55● 30● 80● 75● 60● 90Open · CN/EN only⚠️
TTS — text-to-speech (6 models)
Show score ≥
#ModelScoreEgyptian qualityNaturalnessEmotionCloningLatency$/min audioConf.
1ElevenLabs v3 Multilingual88● 92● 95● 95● 95● 80$0.10–0.30/1K chars · Egyptian ✅✅
2Grok TTS86● 90● 88● 80● 85● 92$4.20/1M chars · 120s clone✅
3ElevenLabs Flash / Turbo78● 85● 88● 80● 90● 95$0.05/1K chars · ~75ms✅
4Microsoft MAI-Voice-270● 60● 85● 78● 0● 80$22/1M chars · Arabic ⚠️⚠️
5GLM-TTS68● 55● 85● 80● 88● 85Open · 3s clone⚠️
6Mistral Voxtral TTS66● 55● 82● 72● 0● 80$0.016/1K chars⚠️
STT — speech-to-text (6 models)
Show score ≥
#ModelScoreEgyptian / ArabicLanguagesReal-timeAccuracy$/min audioConf.
1Grok STT82● 8525● 90● 92$0.10/hr batch · diarization✅
2GLM-ASR-251276● 8030● 90● 88Open · Arabic ✅⚠️
3ElevenLabs Scribe v276● 7890● 90● 91$0.39/hr · 150ms❓
4OpenAI gpt-4o-transcribe74● 7099● 85● 90$0.003/min mini⚠️
5gpt-realtime-whisper72● 7099● 92● 88$0.017/min streaming⚠️
6Gemini 3.1 Flash STT70● 6890● 88● 86~$0.005–0.01/min⚠️
$/min normalised from list prices using ~500 chars/min & ~1,500 tok/min speech-rate assumptions. Open (self-host) = weights on Hugging Face, no API fee.
Image Gen
Top score
93
GPT Image 2 — Arena Elo 1339
Best Arabic rendering
GPT Image 2
Pixel-perfect Arabic (only confirmed premium)
Best open + Arabic
HunyuanImage 3.0
80B MoE, multilingual, self-hostable
Cheapest viable
$0.002
Luma Photon Flash /image (1080p)
Arabic text-in-image is the gate for Hedge / Arobah marketing
Score = composite of Arena Elo (25%), text accuracy (18%), Arabic rendering (15%), prompt adherence (12%), cost (10%), speed (8%), API reliability (7%), resolution (5%). DALL-E 3 retired 12 May 2026 — migrate to GPT Image 2. Arabic rendering independently confirmed only for GPT Image 2, Qwen-Image 2.0 and HunyuanImage 3.0; other Arabic sub-scores are conservative estimates (⚠️).
Show score ≥
#ModelMakerScoreArena EloText in imageArabic textPrompt adh.Speed$/imageOpen?Conf.
1GPT Image 2 (high)OpenAI931339● 99● 95● 92● 75$0.211 (high) · $0.053 (med)No✅
2Reve 2.0Reve841281● 88● 60● 88● 82$0.024 · $0.04 editNo⚠️
3MAI-Image-2.5Microsoft831271● 85● 60● 86● 80~$0.02–0.06 (token)No⚠️
4GPT Image 1.5 (high)OpenAI821260● 90● 82● 86● 75$0.16 (high)No✅
5Qwen-Image 2.0Alibaba821180● 92● 88● 88● 78~$0.05 (varies)Yes✅
6HiDream-O1-Image 1.5HiDream811265● 84● 58● 88● 80credit-basedYes⚠️
7Cosmos3-SuperNVIDIA801227● 78● 55● 80● 78Free (open, self-host)Yes⚠️
8Gemini 3.1 Flash ImageGoogle801170● 85● 70● 86● 90$0.067 (1K) · $0.101 (2K)No✅
9HunyuanImage 3.0Tencent801152● 88● 85● 88● 80Free (open 80B MoE)Yes✅
10Ideogram 4.0Ideogram791200● 96● 60● 90● 82$0.03 · $0.06 · $0.10Partial⚠️
11Imagen 4 UltraGoogle791150● 80● 68● 88● 60$0.06 · $0.02 FastNo⚠️
12Seedream 5.0 LiteByteDance781150● 80● 58● 84● 88$0.031 + $0.007 webNo⚠️
13CogView-4Zhipu781180● 82● 45● 88● 80$0.03 · Apache 2.0Yes⚠️
14FLUX.2 ProBlack Forest Labs771140● 80● 55● 86● 85$0.03–0.073Partial✅
15Grok Imagine 1.5xAI721173● 70● 55● 78● 85$0.02No❓
16Luma PhotonLuma Labs701100● 72● 50● 82● 92$0.015 · $0.002 FlashNo❓
$/image = representative tier. Open? Yes = weights downloadable (licence varies) · Partial = restricted licence · No = API only.
Video Gen
Video generation — GLM-seeded (provisional)
Currently holds Zhipu/GLM video models only. Scores are provisional (relative VBench-2.0 standing) and flagged ⚠️. To make this a real cross-maker comparison, add peers (Sora 2, Veo 3, Kling, Runway Gen-4, Alibaba Wan) — say the word and they get researched + populated. No Arabic-prompt testing is published for any video model.
Show score ≥
#ModelMakerScoreMax resolutionMax duration$/clipOpen?Conf.
1CogVideoX-1.5Zhipu72768×1360~10s @ 16fpsOpen (self-host)Yes⚠️
2CogVideoXZhipu701440×960~30sOpen (self-host)Yes✅
3Ying (Qingying)Zhipu681440×960~6s clipsCN market · n/aNo⚠️
Open (self-host) = weights on Hugging Face; run on your own GPUs, no per-clip API fee.
Factor weights
LLM weights (sums to 100%)
FactorWeight %Tier
Hallucination level (low = better)16critical
Following instructions exactly11high
Document generation quality9high
Long task stamina9high
Tool use / agent reliability8high
Coding quality — real software7medium
Skills / tools per conversation7medium
Research & web browsing7medium
Hard reasoning / problem solving5medium
Image / chart understanding5medium
Cost — input + output4lower
Knowledge depth (PhD-level)4lower
Frontend / web design3lower
Coding — long projects3lower
Math accuracy1lower
Memory — claimed max1lower
Voice AI weights
FactorWeight %Tier
How natural it sounds (Egyptian)22critical
Pronunciation accuracy (Egyptian)18critical
Emotion & expressiveness12high
Voice cloning quality12high
Real-time conversation (S2S)10high
Steerability (tone control)8medium
Speed to first word7medium
Speech-to-text included5medium
Cost4lower
Voice variety2lower
Best for…
LLMs
Top reasoning + coding (any class)
Claude Fable 5
SWE-Bench Verified 95% and Pro 80.3% — both #1 by a clear margin. HLE-with-tools 64.5, AA Index 60. Premium ($10/$50).
New OpenAI flagship (agentic coding)
GPT-5.6 Sol
GA 9 Jul. AA Index 59, Coding Agent Index 80 (top of the agentic table), Terminal-Bench 88.8, GPQA 89. $5/$30.
Best value at scale (any class)
Kimi K2.6
Score 86 at $0.95/$4 per 1M — open-weights. Very low hallucination, HLE-with-tools 54.0. Roughly Opus-tier value at a fraction of the cost.
#1 open-weights model (AA Index)
GLM-5.2
Leading open-weights model on the AA Intelligence Index (51). MIT, 1M context, SWE-Pro 62.1, 28% hallucination vs 86% for GPT-5.5.
New Grok — built for coding / agentic
Grok 4.5
GA 8 Jul, trained on real Cursor sessions. AA Index 54 (4th globally), Terminal-Bench 83.3, $2/$6 — ~60% cheaper than Opus 4.8.
Cheapest viable at scale
DeepSeek V4-Flash
$0.14/$0.28 per 1M, SWE-V 79%, 1M context. For translation, tagging, classification and high-volume calls.
Longest autonomous tasks
Qwen 3.7-Max
Architected for ~35-hour autonomous runs and 1,000+ tool calls. AA Index 56.6, SWE-Pro 60.6.
Best balanced Claude for docs / decks
Claude Sonnet 5
Near-Opus agentic quality at $3/$15 (intro $2/$10 to Aug 31). SWE-Pro 63.2 > GPT-5.5.
Best self-hosted / data privacy
GLM-5.2 / Kimi K2.6 / DeepSeek
Open weights — skip API cost, keep data on your own cluster. GLM & Kimi lead capability; DeepSeek leads price.
Voice (Egyptian Arabic)
Live Egyptian conversation (S2S)
gpt-realtime-1.5 / Grok Voice Agent
Both strong on Egyptian. Grok at $0.05/min vs OpenAI ~$0.18–0.46/min — Grok far cheaper & lower-latency; OpenAI edges naturalness.
Best Egyptian TTS
ElevenLabs v3
Only vendor explicitly confirming Egyptian (plus Saudi/Levantine/Gulf/Maghrebi). Best naturalness, emotion & cloning.
Cheapest STT for Arabic
Grok STT
$0.10/hr batch, $0.20/hr streaming. 25+ languages, speaker diarization and word-level timestamps.
Image generation
Best overall (English)
GPT Image 2
Arena Elo 1339, 99% text accuracy, reasoning-powered. $0.053 (med) / $0.211 (high) per image.
Best Arabic / Egyptian
GPT Image 2
Only premium model with pixel-perfect Arabic confirmed. Qwen-Image 2.0 and HunyuanImage 3.0 are strong multilingual alternatives.
Best open + Arabic (self-host)
HunyuanImage 3.0
80B MoE, multilingual incl. Arabic, open OpenMDW licence — free to self-host on your own GPUs.
Sources & methodology
Primary benchmark leaderboards (verified 6 Jul 2026)
  • Artificial Analysis Intelligence Index (v4.1) — Fable 5 60, GPT-5.6 Sol 59, Qwen 3.7-Max 56.6, Grok 4.5 54, Sonnet 5 53, GLM-5.2 51 (#1 open), DeepSeek V4-Pro 50.4. source →
  • Vals.ai SWE-Bench Verified (updated 1 Jul) — Fable 5 95.0, Opus 4.8 88.6, Gemini 3.5 Flash 78.8. source →
  • Morphllm SWE-Bench Pro — Fable 5 80.3, Opus 4.8 69.2, Sonnet 5 63.2, GLM-5.2 62.1, Qwen 3.7-Max 60.6, Kimi K2.6 58.6. source →
  • AA-Omniscience (hallucination) — GLM-5.2 28% hallucination vs GPT-5.5 86%. source →
  • AA Image Arena (text-to-image) — GPT Image 2 1339, Reve 2.0 1281, MAI-Image-2.5 1271, Cosmos3 1227 (top open-weight). source →
Model & pricing sources
  • Anthropic Claude catalog — Fable 5 $10/$50, Opus 4.8 $5/$25, Sonnet 5 $3/$15 (intro $2/$10 to 31 Aug). All 1M context. source →
  • Google Gemini — 3.5 Flash $1.50/$9 is the current LLM entry; 3.5 Pro delayed (~17 Jul). source →
  • Moonshot Kimi K2.6 & K2.7-Code $0.95/$4 (cache-hit $0.19), 256K, Modified MIT. source →
  • DeepSeek V4-Pro $0.44/$0.87, V4-Flash $0.14/$0.28, 1M context. source →
Methodology
  • Benchmark-anchored scoring: the score is a 0–100 composite anchored to SWE-Bench Verified/Pro, HLE, GPQA, AA Intelligence Index and AA-Omniscience. Displayed sub-scores are analytical mappings from those benchmarks — not vendor marketing claims. OpenAI & xAI report agentic-coding indices & Terminal-Bench rather than SWE-Bench Pro.
  • Confidence flags on every row: ✅ verified from a primary/neutral-aggregator source; ⚠️ partial or estimated; ❓ released but no public benchmarks yet.
  • Egyptian Arabic gate (voice): retained. Only ElevenLabs v3 confirms Egyptian; GLM-ASR-2512 confirms generic Arabic. GLM-4-Voice (CN/EN only) fails the gate.
  • Still not scored (benchmarks pending): Google Gemini 3.5 Pro (delayed, ~17 Jul, enterprise preview). No model newer than GPT-5.6 / Grok 4.5 / GLM-5.2 confirmed as of 6 Jul 2026.
03

AI Markets

AI leaders and their capital cycle — capex commitments alongside the month’s market moves.

Hyperscaler capex — FY2026 guidance (US$bn)
$200bn Amazon (AWS) $190bn Alphabet $190bn Microsoft $145bn Meta
Nvidia mkt cap (27 Jul)
~$4.8T
-4.95%
4-hyperscaler FY26 capex
$725bn
+77% YoY
Nvidia NVDA price (27 Jul close)
$196.61
-$10.23
Chips

Nvidia falls ~5% on Jul 27 despite $5B SSI deal as semiconductor sector weakens

(27 Jul) Nvidia shares dropped as much as 5.3% in midday trading Monday even after Bloomberg reported the $5 billion Safe Superintelligence investment. Broader semiconductor weakness and China's progress in domestic chipmaking weighed on the stock.

Read full article → Yahoo Finance / TipRanks
Capex

Google, Amazon, Microsoft, Meta to spend $725bn on capex in FY2026 — up 77% YoY

(30 Apr – analyst update) The four largest US hyperscalers collectively plan $725 billion in capital expenditure in 2026, up 77% from the record $410 billion in 2025. Goldman Sachs raised its 2025–2030 combined capex estimate for the four to $5.3 trillion.

Read full article → Yahoo Finance / Tom's Hardware
Capital

DeepSeek suspends $74bn-valuation second funding round after founder's leaked remarks go viral

(25–26 Jul) Bloomberg and Reuters reported that DeepSeek verbally informed prospective investors it would not be signing investment agreements as planned, pausing a round targeting ~¥480bn ($74bn) pre-money valuation. The suspension followed viral circulation of remarks attributed to founder Liang Wenfeng about Nvidia chip reliance and China's AI lag.

Read full article → Bloomberg · Reuters / Yahoo Finance · The Information
04

Infrastructure & Capital

Compute

Nvidia → Safe Superintelligence — $5bn equity + Vera Rubin access · $5bn

(27 Jul) Nvidia committed $5 billion in equity to Ilya Sutskever's Safe Superintelligence as part of a long-term strategic partnership announced Monday. SSI will also receive access to Nvidia's next-generation Vera Rubin GPU platform, which the companies said will expand SSI's compute capacity 'by an order of magnitude' over 12 months. The deal, which came together within weeks, is one of Nvidia's largest single funding commitments to a frontier AI lab.

Read full article → Bloomberg · TechCrunch · Reuters
Funding

DeepSeek pauses second round targeting ~$74bn valuation · $74bn valuation (paused)

(25–26 Jul) DeepSeek suspended its second fundraising round — which sought at least ¥10bn ($1.4–1.5bn) in fresh capital at a ~$74bn pre-money valuation — after a leaked transcript of founder Liang Wenfeng's investor comments spread on Chinese social media and X. The company raised $7.4bn in its maiden round in June 2026 at a ~$50bn valuation, and has separately begun IPO preparations targeting Shanghai's STAR Market.

Read full article → Bloomberg · Fortune · The Information · Reuters
Compute

4-hyperscaler FY2026 capex: $725bn collective commitment · $725bn aggregate FY2026

(Apr–May earnings updates) Alphabet guided $180–190bn, Amazon ~$200bn, Microsoft ~$190bn annualised, and Meta raised guidance to above $145bn. Combined this is ~$725bn — up 77% from 2025's record $410bn — making 2026 the largest single-year corporate capex cycle in history. Goldman Sachs raised its 2025–2030 hyperscaler capex aggregate to $5.3 trillion.

Read full article → Yahoo Finance / Tom's Hardware · Goldman Sachs via Yahoo Finance
Funding

Together AI closes $800M Series C at $8.3bn valuation · $800M

(1 Jul) Together AI closed an $800 million Series C led by Aramco Ventures, with Nvidia, Vista Equity Partners, and General Catalyst also participating. Annual bookings had crossed $1.15 billion in Q2 2026. The round values the AI infrastructure and model-serving platform at $8.3 billion.

Read full article → StartupHub.ai · VentureCapitalTracker
Compute

Abu Dhabi MGX closes $49bn Fund I — includes 3GW Paris AI campus · $49bn

(Mid-2026) Abu Dhabi's MGX closed its Fund I at $49 billion, exceeding a $45 billion target, with investments spanning 14 companies across semiconductors, AI infrastructure, and AI platforms. MGX is developing Europe's largest AI campus near Paris with 3GW of compute capacity and acquired Aligned Data Centres as part of a $40 billion consortium deal.

Read full article → Crescendo.ai VC tracker