This week's news is dominated by capital deployment into frontier AI infrastructure and chips, alongside notable moves in space, cybersecurity and industrial robotics. Safe Superintelligence deepens its computing partnership with Nvidia, Etched raises $300m at a $10.3bn valuation, K2 Space raises $500m at a $6.8bn valuation, and Oasis Security is acquired by Cyera for $1bn.

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Etched raises $300 million at $10.3 billion valuationEtched is an AI chip start-up building hardware specialised for AI inference. The company has raised $300m in Series C funding at a $10.3bn valuation, with participation from Andreessen Horowitz, Jane Street, Diffusion Capital and SK Hynix, taking its total funding past $1bn. The funding will support expanded chip production and customer deployments as demand for its inference hardware continues to outpace supply.

K2 Space Raises $500m at $6.8bn ValuationK2 Space is a satellite platform company building infrastructure for commercial and government space missions. The company has raised $500m in Series D funding at a $6.8bn valuation, with participation from Kleiner Perkins and Lightspeed. The round reflects continued investor appetite for space infrastructure as satellite deployment scales globally.

K2 Space is an underlying asset of VenCap 6, VenCap 16, and VenCap 17.

Atoms raises $1.7bn led by a16z

Atoms is the rebranded holding company built by Travis Kalanick, spanning food, mining and transport divisions focused on physical AI and industrial robotics. The company has raised $1.7bn in equity funding, led by Andreessen Horowitz with participation from Bain Capital, Fifth Wall and Uber. Ben Horowitz will join Atoms' board following the investment, and debt facilities were separately arranged with several major banks.

Safe Superintelligence Deepens Partnership with Nvidia

Safe Superintelligence (SSI) has entered a long-term partnership with Nvidia, giving SSI access to Nvidia's Vera Rubin GPU platform and expanding its compute resources substantially. Nvidia, already an investor in SSI, cited the lab's research progress as the basis for deepening the relationship. SSI has raised $7bn to date and was most recently valued at $32bn.

Safe Superintelligence is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16, and VenCap 17.

Oasis Security Acquired by Cyera for $1bn

Oasis Security is a non-human identity and agentic access management provider that helps enterprises govern the access and permissions of AI agents and other machine identities. Data security company Cyera has agreed to acquire Oasis for approximately $1bn, in a deal expected to close later this year and partly funded by Cyera's recent $600m raise at a $12bn valuation. The acquisition combines Oasis's identity governance technology with Cyera's data security platform, giving the enlarged business visibility into both what data exists and which human or machine identities can access it.

Oasis Security is an underlying asset of VenCap 6.

Commonwealth Fusion Systems Raises $1bn in New Equity Funding

Commonwealth Fusion Systems is a Massachusetts-based nuclear fusion start-up. The company has raised $1bn in new equity funding, adding to the $3bn it had previously raised. The fresh capital adds to the resources behind its fusion energy programme.

Commonwealth Fusion Systems is an underlying asset of

VenCap 6, VenCap 10A, VenCap 13A, VenCap 16, and VenCap 17.