Anthropic hits $965B valuation; AI complexity plagues Indian companies
Anthropic’s Series H funding was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.
Hello,
Codex, OpenAI’s coding and software engineering agent, is getting popular in India, with the number of weekly active users of the platform growing 27X since the start of 2026. By late April 2026, daily interactions with the system had risen by more than 20x, said a release by OpenAI.
India now ranks among the top five countries globally for the adoption of Codex, which is an AI model originally designed to translate natural language into computer code.
Meanwhile, billionaire Mukesh Ambani-led Reliance Industries is embedding AI at the core of its media and entertainment empire as it seeks to position itself as the primary entertainment destination for every Indian, the company said in its latest annual report, per a report by PTI.
ICYMI: AI ‘voice cloning’ scams are on the rise.
Elsewhere, libraries across the world have historical manuscripts that can’t be decoded due to incomprehensible letters. AI is helping scholars decode ancient wisdom.
Moving on to the world of health and … cheese, The Guardian reports that influencers in France are fuelling the craze for a previously little known cheese called cancoillotte (pronounced con-qwy-yotte). The cheese, which is high in protein and low in fat, was previously limited to a small village in eastern France. However, thanks to the internet, the cheese is now popular across the country.
What’s your the-internet-made-me-buy-it story?
In today’s newsletter, we will talk about
- Anthropic nears $1T valuation
- AI complexity plagues Indian companies
Here’s your trivia for today: What cheese's name literally means "recooked" in Italian?
Artificial intelligence
Anthropic hits $965B valuation
Anthropic has leapfrogged OpenAI in valuation for the first time after securing $65 billion in Series H funding at a post-money valuation of $965 billion, as the two rivals engage in a high-stakes, head-to-head battle for dominance in the frontier model market.
Key takeaways:
- Anthropic’s Series H funding was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital.
- This funding includes the $15 billion in previously-committed capital from hyperscalers, including $5 billion from Amazon.
- Only a few months ago, Anthropic raised $30 billion in a Series G funding round, at a post-money valuation of $380 billion.
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News
AI complexity plagues Indian companies
India’s mid-market companies are emerging as global leaders in artificial intelligence (AI) adoption, but they are also paying a significant price in the form of growing complexity and inefficiencies, according to a new study by Freshworks.
Key takeaways:
- The company’s 'Global Cost of Complexity Report: The Mid-Market AI Complexity Trap' found that Indian firms lose 27% of their AI budgets to complexity-related overheads, higher than the global average of 25%.
- This translates into an estimated Rs 33,000 crore in wasted AI spending annually. Despite these challenges, India leads global mid-market organisations in AI integration, with 36% reporting AI embedded across multiple core business operations, more than double the global average of 15%.
- The study also found that Indian firms use an average of 4.6 AI tools, above the global average of 4.2, contributing to technology sprawl.
News & updates
- Failure: An uncrewed Blue Origin New Glenn rocket exploded on a Florida launchpad during a test earlier this week. This is a major setback for Jeff Bezos’ space venture as it seeks to narrow the gap with Elon Musk's IPO-bound SpaceX.
- Soaring valuation: Micron Technology has become a talking point for investors after its market value crossed US$1 trillion, a move closely tied to AI-driven demand for high bandwidth memory in data centres.
What cheese's name literally means "recooked" in Italian?
Answer: Ricotta
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