Alphabet shares fell about 12% on Thursday, wiping roughly $500bn off its market value in its biggest one-day loss since its 2004 IPO.
DoorDash agreed to buy Instacart for about $17bn, a deal that would give the combined company over three quarters of the US delivery market.
Mistral released the open weights of Large 4, which independent tests show cuts cost per task by 63%, letting companies run and adapt it themselves.
Alphabet suffers worst trading day since its 2004 IPO
Funding and deals
Cohere. Canadian-German AI model developer raises up to €4.7bn Series E at about €23.9bn valuation, led by Schwarz Gruppe with Canada's government and NVIDIA.
DoorDash and Instacart. DoorDash agrees to buy grocery delivery company Instacart for about $17bn, or $65 per share, with closing expected late 2027 or early 2028.
FuriosaAI. Seoul AI chip developer raises $620m Series D, quadrupling its valuation to $2.9bn, with 45% from the state-backed National Growth Fund.
StrollMe. Frankfurt startup renting strollers and other family gear by subscription raises €22m in equity and debt, with BMH and Growth Credit Partners joining.
Guest interviews
Julian Collin, Vice President Growth at Trade Republic. In a teaser for Jan Thomas's full interview, Collin explains why Trade Republic's Brad Pitt advert has no spoken lines. He says the bank spends heavily on marketing as it grows past 10m customers in 18 countries.
News
Alphabet loses $500bn in one day. Shares fell about 12% after third-quarter AI spending hit $51.4bn and free cash flow turned negative at $9.1bn. Search grew only 12% as AI Mode earns less per query.
Mistral releases open weights of Large 4. The one-trillion-parameter model, with 52bn active, cuts cost per task by 63% in independent tests, and companies can run and adapt it themselves.
US intelligence links Megaspeed manager to Beijing. The New York Times reports Alice Huang allegedly targeted Jensen Huang and smuggled NVIDIA chips into China. NVIDIA says the allegations were checked and refuted.
Chinese labs reportedly distilled OpenAI's GPT-6 Astra. The Information reports DeepSeek and Moonshot trained new models, including Kimi K-3.0Pro, on large volumes of GPT-6 Astra answers. Anthropic had already shielded Claude against such attempts.
INLEAP Photonics starts laser drone defence production. The Hannover startup, backed by a €20m seed round led by UVC Partners, opens a production hall and ships first systems to partner Stark. It targets over 100 staff by end of 2027.
EU freezes Austria's under-14 social media ban. Brussels halts national measures for at least a year and plans a stricter EU rule, so Austria's law can start July 2027 at the earliest.
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