Jun 24, 2025 4 min read Daily Rundown

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$100M Research Push, Amazon Doubles Kuiper, Nvidia Sells Shares

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Andy Konwinski Pledges $100M for Independent AI Research

Databricks and Perplexity co-founder Andy Konwinski launched the Laude Institute with a $100 million personal commitment to fund AI research through grant-like investments. The institute's board features top researchers from Google, Meta, and UC Berkeley, with its first major grant establishing a new AI Systems Lab at Berkeley under renowned researcher Ion Stoica.

The organization addresses growing concerns about commercial influence corrupting AI research integrity, operating as both a nonprofit and benefit corporation to support truly independent studies. Konwinski's funding comes from his companies' massive valuations—Databricks at $62 billion and Perplexity at $14 billion—enabling this ambitious research initiative.

The institute divides investments into "Slingshots" for early-stage research and "Moonshots" for long-term challenges in healthcare, scientific discovery, and workforce development, aiming to maintain scientific rigor while fostering beneficial commercial applications.

⛵Key Takeaway: This creates a promising new model where successful tech entrepreneurs reinvest their wealth into independent research, potentially generating breakthrough innovations while maintaining academic integrity—a valuable alternative to commercially-driven AI development.

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SPACE

Amazon Launches Second Kuiper Satellite Batch to Challenge Starlink

Image credit: United Launch Alliance / X

Amazon successfully launched 27 Kuiper internet satellites on Monday using a United Launch Alliance Atlas V rocket from Cape Canaveral, bringing its total constellation to 54 satellites. This mission, twice delayed due to weather and technical issues, marks Amazon's continued push to build a 3,236-satellite constellation for global internet service.

The launch intensifies competition with SpaceX's Starlink, which currently dominates the satellite internet market with 8,000 satellites already in orbit. Amazon faces a Federal Communications Commission deadline to deploy half its planned constellation—1,618 satellites—by July 2026, requiring rapid scaling of its deployment schedule.

Amazon has secured over 80 launches with multiple providers, including ironically SpaceX itself, to meet its ambitious timeline. The company launched its first batch of 27 Kuiper satellites in April, marking the beginning of its six-year-old Project Kuiper initiative to provide global broadband internet from low Earth orbit.

⛵Key Takeaway: Amazon's aggressive satellite deployment creates a massive new revenue stream opportunity in the rapidly growing satellite internet market, potentially capturing significant market share from Starlink while leveraging its existing AWS infrastructure and global logistics expertise for competitive advantage.

Harvey Raises $300M Series E Funding for Legal AI Assistant

Legal AI company Harvey secured $300 million in Series E funding led by Kleiner Perkins and Coatue, with participation from Alphabet's GV, OpenAI Startup Fund, and Sequoia. The round values Harvey at $5 billion, more than doubling from its $2 billion valuation earlier this year, while the company reportedly generates $75 million in annualized recurring revenue from over 330 law firms across 50+ countries.

Harvey's flagship AI assistant automates legal research, document drafting, contract analysis, and revision management for attorneys. The platform uses both custom AI models for specialized tasks like redlining detection and off-the-shelf large language models from providers like OpenAI, with plans to integrate LexisNexis models following their participation in the funding round.

The company plans to use the funding to double its 340+ employee workforce and expand beyond the legal profession into new market segments. Harvey's rapid growth from $50 million to $75 million in ARR within months demonstrates strong market demand for AI-powered legal tools among professional service firms globally.

⛵Key Takeaway: Harvey's $5 billion valuation and rapid revenue growth signals massive market opportunity in vertical AI solutions for professional services, positioning the company to capture significant value as legal firms increasingly adopt AI to enhance productivity and reduce costs.

FINANCING BRIEF

Apple Explored Deal with OpenAI's Former CTO Mira Murati's AI Startup.
Decagon Raises $131M Series C for AI Customer Service Agents.
Zeelo Raises $23 M to Turbo-Charge U.S. Push and Autonomy Pilots.
Nvidia CEO Jensen Huang Begins $865 Million Share-Sale Plan.
Super Micro Stock Drops on $2 B Convertible-Debt Raise.

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