Format
Models
The coding agent company nearly doubled its valuation in four months while revenue kept pace. At ~53x annualized run-rate, investors are pricing Devin as a platform layer, not a developer tool.
◆ Lena Park
Money & Markets
The fifth-largest U.S. bank completed a live cross-border payment using its proprietary USBDC stablecoin on Stellar-seven days before Circle Arc's mainnet launch and absent from its validator list.
◆ Nolan Pratt
Agents at Work
Goldman Sachs is scaling Devin across thousands of engineers. Cognizant is generating 30% of its code with AI. The valuation is a lagging indicator of enterprise adoption that's already underway.
◆ Dana Ellison
Trust & Security
Sentry and EPMM join PaperCut, N-able, Microsoft, and SAP as the latest enterprise management tools where authentication fails before the system checks who is asking.
◆ Heath Callahan
Money & Markets
BlackRock, DTCC, Visa, and Mastercard are launching Circle Arc the day after the CLARITY Act is expected to fail. The money moved anyway — and the January 2027 enforcement cliff is now the only deadline that matters.
◆ Nolan Pratt
Models
CFO Sarah Friar confirmed at Goldman Sachs' Communacopia conference that OpenAI's frontier models helped architect the very silicon they run on, extending the compute landlord thesis into self-designing hardware.
◆ Lena Park
Infrastructure
As standards from OWASP, NIST, and the AAIF begin to overlap, builders must reconcile runtime enforcement, identity protocols, and interoperability to secure production-grade agent systems.
◆ Blair Hayes
Policy
Three incompatible governance frameworks for AI agents are competing in Congress simultaneously, with no convergence path. The structural choice between infrastructure, prohibition, and fiduciary duty will define the US agent economy.
◆ Priya Nair
Agents at Work
The enterprise agent security stack is finally forming. Investors are betting it's the last piece companies need before scaling.
◆ Dana Ellison
Trust & Security
OVERPASS and S4GET enable unauthenticated RCE on core ERP infrastructure. The authentication gap is no longer a middleware problem.
◆ Heath Callahan
