3 in Finance

2/12: Harvey (San Francisco, CA), an OpenAI-backed legal startup, raised $300M of equity in a deal led by Sequoia Capital, placing the company’s pre-money valuation at $2.7B. The company had previously raised $100M in July 2024 at a $1.4B valuation, and experienced 4x ARR growth this past year. (Link)

2/12: Harrison.ai (Australia), a startup specializing in AI-powered diagnostic support and workflow solutions for radiologists, raised $112M of equity in a deal led by Horizons Ventures and Aware Super. (Link)

2/11: Kinara (Santa Clara, CA), developer of neural processing units (NPUs) for AI applications at the edge, agreed to be acquired by NXP Semiconductors (NAS: NXPI) for $307M. (Link)

3 for Fun

Elon Musk-led group’s $97B offer for control of OpenAI is rejected. (Link)

Meta plans to release stand-alone AI chatbot app. (Link)

xAI releases Grok-3 to rival OpenAI and DeepSeek. (Link)

Big movers — month over month stock performance:

BigBear.ai gains 38%; Intel gains 17%; IBM gains 12%

SoundHound AI falls 35%; C3.ai falls 28%; Cognex falls 18%