Good evening!
It could have been Friday the 13th, and I am really glad it’s not. We need all the good luck we can get.
Here are the 7 things you missed today:
1. 🤑 Micro1 raises $35 million Series A at $500 million valuation
Backed by 01 Advisors, the funding round brings Micro1’s valuation to $500 million. The company’s annual recurring revenue has reached $50 million, up from $7 million at the start of 2025. Clients include Microsoft and several Fortune 100 firms, and Adam Bain joins the board alongside Joshua Browder. The startup positions itself as a competitor to Scale AI in providing AI talent and services. (TechCrunch)
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3. 🤝 OpenAI secures Microsoft pact for PBC shift
According to the announcement, OpenAI’s nonprofit will retain control while receiving a stake in the new public benefit corporation valued at more than $100 billion. The agreement is subject to regulatory approval, and both companies are working on a definitive deal. Microsoft’s support ensures its existing partnership with OpenAI will continue under the new structure. (TechCrunch)
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5. 👀 Tether launches USAT stablecoin to boose U.S. market presence
The launch is planned before year-end, with Anchorage Digital Bank as issuer and Cantor Fitzgerald as custodian and preferred primary dealer. Tether appointed Bo Hines as CEO of the new venture, confirmed compliance with the GENIUS Act, and noted USDT’s market capitalization exceeds $169 billion, according to CoinGecko. Headquarters for the new venture will be in Charlotte, North Carolina. (Reuters)
6. 📈 Nasdaq hits record ahead of Fed decision
Investor sentiment lifted the Nasdaq to a record close at 22,141.10 as traders positioned for next week’s Federal Reserve meeting, where a 25 basis point rate cut is widely expected. The S&P 500 and Dow slipped slightly, but all three major indexes posted solid weekly gains, underscoring optimism about easing monetary policy. Analysts said tech stocks in particular drove the Nasdaq’s outperformance. (Reuters)
7. 🧑⚖️ California passes bill to regulate AI companion chatbots
The bill would make California the first state to govern AI companions if signed by Gov. Gavin Newsom by October 12, taking effect January 1, 2026. It requires clear bot disclosures, three-hour reminders for minors, and bans on self-harm or sexual content, with referrals to crisis hotlines. Operators must publish annual safety and audit reports starting in 2027, and users may sue for actual damages or $1,000 per violation. (Yahoo Tech)
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