Ramp Hits $60B Valuation as AI Race Reignites Between Anthropic, OpenAI, and Google

Ramp raised $1.85 billion led by Dragoneer at a $60 billion valuation, up sharply from $44 billion after a $750 million raise in June, according to Bloomberg. The fintech company also hit $2 billion in annualized revenue, up from $1.5 billion in June, a milestone that helped attract fresh investor capital.

The AI race is back on as Anthropic and OpenAI, which had recently pulled ahead with increasingly powerful models leaving rivals behind, face renewed competition from Google, according to The New York Times. Meta, despite spending billions to revive its floundering AI ambitions, has yet to establish itself as a serious contender among the top 3 players.

Ricursive Intelligence is betting on AI-designed chips to help solve the compute crisis, with founders detailing how their startup develops AI that can design chips, learn from each iteration, and improve subsequent designs, all with the goal of automating and accelerating the chip design process, reports TechCrunch.

Researchers are using AI to design proteins that cut up other proteins, with AI design tools creating proteins that break bonds stable for hundreds of years, according to Nature. The breakthrough could accelerate drug discovery and therapeutic development by targeting specific disease-causing proteins.

Figma announced new features to define how agents work on its platform, alongside releasing its code layers feature in open beta, reports The Verge. The updates give developers more control over AI agent interactions within the design tool used by over 4 million professionals.

Epic says its new vibe-coded Epic Games Launcher is faster than Steam, though the company warns the Preview app will have some bugs, according to PC Gamer. The AI-assisted rebuild targets performance improvements across the platform's 230 million registered users.

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