# Codex & Capital

> Codex & Capital covers the money and the machines: venture funding, startups, big tech, AI and the IPOs reshaping the technology economy. Sharp reporting for builders and investors.

Contact: info@codexandcapital.com
Website: https://codexandcapital.com/

## Startups
- [Who Is Ankiti Bose? From Zilingo Unicorn to Frontier-Tech Investor](https://codexandcapital.com/articles/who-is-ankiti-bose/): She built a near-unicorn in her twenties, weathered a very public blow-up, and came back swinging. Here is the short version of the Ankiti Bose story, and where it is going next.
- [The Top Western Startups to Watch in 2026](https://codexandcapital.com/articles/top-western-startups-to-watch-2026/): From near-trillion-dollar AI labs to fusion reactors and defense-tech upstarts, these are the private companies setting the pace across the US and Europe, with the latest confirmed funding figures.
- [The Energy Startups Betting That Compute Will Eat the Grid](https://codexandcapital.com/articles/energy-startups-compute-grid/): AI demand is turning electricity into the constraint on everything. A new class of energy startups is racing to supply the firm power that compute now depends on.
- [The Quiet Reinvention of the American Fashion Industry: Resale, AI and the Squeeze on the Middle](https://codexandcapital.com/articles/us-fashion-industry/): E-commerce, a mainstream resale boom, AI in the back office and a slow reshoring of supply chains are remaking American fashion, and squeezing the brands caught in the middle.
- [Helion Hits a $15.5 Billion Valuation as Sam Altman's Fusion Bet Races to Power Microsoft by 2028](https://codexandcapital.com/articles/helion-fusion-15-billion-valuation/): The Thrive-led $465 million round nearly triples the Washington startup's valuation in 17 months, even as its 2028 deadline to deliver fusion electricity looms over the entire sector.
- [Anduril Doubles to $61 Billion in a $5 Billion Round, Cementing Defense Tech as Venture's Hottest Category](https://codexandcapital.com/articles/anduril-doubles-to-61-billion/): The Thrive- and a16z-led round roughly doubles the weapons maker's valuation in under a year, riding revenue that hit $2.2 billion and a major US Army agreement.

## AI
- [Why AI Is Quietly Rebuilding Healthcare From the Inside](https://codexandcapital.com/articles/why-ai-is-changing-healthcare/): The flashy demos get the headlines. The money and the impact are in diagnostics, drug discovery and the unglamorous admin layer that runs every hospital.
- [Apple Rebuilds Siri on Google's Gemini in a Landmark AI Partnership](https://codexandcapital.com/articles/apple-rebuilds-siri-on-gemini/): At Tim Cook's final WWDC keynote, Apple confirmed its overhauled, more conversational Siri will lean on a custom Google model, a rare reliance on a rival's AI.
- [Tesla Goes Fully Driverless in Austin, but Its Robotaxi Fleet Is a Fraction of Waymo's](https://codexandcapital.com/articles/tesla-robotaxi-austin-driverless/): Tesla pulled the human safety monitors and blanketed the entire Austin metro with robotaxis. Regulatory filings tell a smaller story: barely two dozen driverless cars actually on the road.
- [EU Agrees to Delay the AI Act's High-Risk Rules to 2027 in 'Digital Omnibus' Deal](https://codexandcapital.com/articles/eu-delays-ai-act-high-risk-rules/): Brussels negotiators struck a provisional deal to push back the bloc's toughest AI obligations by more than a year, while adding a new ban on AI 'nudifier' apps.

## Venture
- [Japan's Quiet Tech Comeback: Why Founders and Funds Are Circling Tokyo](https://codexandcapital.com/articles/japan-tech-comeback/): Cheap money is gone, but in Japan the startup engine is finally turning over. Global funds, corporate venture and a busy IPO market are making Tokyo interesting again.
- [From Zilingo to Fusion: Inside Ankiti Bose's Terra Invest Bet on AI, Longevity and Energy](https://codexandcapital.com/articles/ankiti-bose-terra-invest-ai-longevity-biosciences-space-nuclear/): The former Zilingo co-founder is done with consumer apps. Through Terra Invest, Ankiti Bose is wiring together AI, longevity, biosciences, nuclear power and space-grade ambition into one future-economy thesis.
- [Anthropic Files for a Record IPO, Overtaking OpenAI as the World's Most Valuable AI Startup](https://codexandcapital.com/articles/anthropic-files-record-ipo/): Days after a $65 billion round valued it at $965 billion, the Claude maker submitted confidential IPO paperwork, setting up one of the largest tech debuts in history.
- [Revolut Eyes a $200 Billion IPO Valuation, Months After Becoming Europe's Most Valuable Startup](https://codexandcapital.com/articles/revolut-eyes-200-billion-ipo/): The UK fintech has told investors a future listing could value it as high as $200 billion, even as its CEO signals no IPO before 2028.
- [Musk Merges SpaceX and xAI in a $1.25 Trillion Deal, the Largest Corporate Merger Ever](https://codexandcapital.com/articles/spacex-xai-merger-largest-ever/): The combination folds Grok, Starlink and SpaceX's rockets into a single entity ahead of one of the most-watched IPOs in history, and draws immediate antitrust and governance scrutiny.

## Media
- [Complainant, Not Accused: Ankiti Bose Wins Another Court Order Over Defamatory Media](https://codexandcapital.com/articles/ankiti-bose-legal-win-defamatory-media-coverage/): A Delhi court ordered a story taken down and called it a media trial. It is the latest in a string of wins, from Mumbai to Singapore, that are quietly rewriting the record on the former Zilingo co-founder.
- [DOJ Clears Paramount Skydance's $110 Billion Warner Bros. Discovery Takeover](https://codexandcapital.com/articles/doj-clears-paramount-warner-merger/): With no divestitures required, the Ellison-controlled studio is set to absorb HBO, CNN, the Warner film library and Discovery's networks in one of the largest media mergers in decades.
- [The Squeeze Tightens: As AI Search Drains Traffic, Newsrooms Cut Deep and Sue AI Firms](https://codexandcapital.com/articles/ai-search-squeezes-newsrooms/): With Google's AI Overviews choking referral traffic and assistants scraping content, 2026 has brought sweeping layoffs and a widening legal war, capped by CNN's first suit against an AI company.
- [TikTok's U.S. Spinoff Closes: Oracle, Silver Lake and MGX Take Control as ByteDance Keeps 19.9%](https://codexandcapital.com/articles/tiktok-us-spinoff-closes/): After a years-long ban standoff, TikTok's American operation is now a U.S.-controlled joint venture, but lawmakers are already asking whether the structure truly resolves the security concerns behind it.

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