Startups & VC Summary

While discussions around an AI bubble continue, Salesforce has added 6,000 enterprise customers in just three months, indicating robust growth in the sector. Meanwhile, in the IPO landscape, Crunchbase reports that 2025 has seen a significant uptick in technology listings, with at least 23 U.S.-based companies going public above $1 billion in value, a marked increase from only nine in 2024.

In a notable development, Shanghai Biren Technology, a leading GPU maker, has initiated bookbuilding for a Hong Kong IPO aiming to raise up to $624 million, as Chinese AI chipmakers seek to expand their operations amidst rising demands for AI technology.

Furthermore, Alphabet is set to acquire Intersect for $4.75 billion, enhancing its data center and power-generation capabilities amidst surging demand for AI infrastructure. This acquisition reflects the ongoing trend of significant investment in technology that supports AI development.