Wednesday, September 30, 2026
Oura's amended S-1, filed with the SEC on 21 September, offers 50 million shares at $40 to $44. Only 13.5 million of them come from the company. Of the roughly $532.6 million the company nets at the midpoint, $526.4 million is earmarked for tax withholding on employee stock. Forerunner Ventures is selling its entire 28.7 million-share position and will own nothing on day one.
Reports put OpenAI in early talks over a share sale valuing it near $1.5tn, roughly double the $730bn of its last round, while the company signals an IPO is not imminent. Staying private is the point: the number is easier to sustain when nobody trades it daily.
Positron raised $875m on Thursday at a $5bn valuation, having been worth about $1.06bn in February. Its chips are built around memory capacity and bandwidth rather than raw compute, using commodity LPDDR5X rather than the high-bandwidth memory that constrains everybody else. That choice is the entire thesis.
Twelve disclosed AI chip funding rounds raised $5.37bn between late January and mid-August. Eight of them, and about 67 percent of the capital, went to companies building for inference rather than training. Venture money is a forecast, and this one is about where the permanent cost of AI is going to sit.