Wednesday, June 11, 2025

Welcome to TechCrunch AM! This morning, we've got more hype-y musings from Sam Altman; a creator economy bigger than some countries' GDP; and major capital for a nuclear fusion startup. We've also got updates on OpenAI's open model and new o3-pro; an ocean-floor mapping startup; a vast valuation for Vast Data; fresh funding for robotics and cybersecurity, and more. Let's get started!

TechCrunch Top 3

Image Credits: Yuki Iwamura/Bloomberg / Getty Images

1. To hype or not to hype: Just days after Apple released a study saying LLMs don't reason all that well, OpenAI CEO Sam Altman is predicting that AI will achieve "novel insights" by next year. As always, it's best to take what all these tech CEOs say with a shovel of salt. Read More

2. Smash that subscribe button: A YouTube report has found that its creative ecosystem contributed over $55 billion to the U.S. GDP and supported more than 490,000 full-time jobs in 2024. I'm curious how those numbers will look in a couple years when AI creators inevitably flood the space. Read More

3. Money for science! German nuclear fusion startup Proxima Fusion just raised about $148 million, becoming one of the few nuclear companies outside the U.S. to raise over $100 million. The company is gunning to become one of Europe's top players in the race to develop an alternative to nuclear fission. Read More

Morning Must-Reads

Image Credits: Getty Images

🔋 Going nuclear: Standard Nuclear has come out of stealth with $42 million in funding. The company isn't exactly new; it was put together from assets bought at the bankruptcy auction of the Ultra Safe Nuclear Corp, and that background has given it a leg up towards securing $100 million in non-binding fuel sales for 2027. Read More

🦥 Slowing down: We'll have to wait a little longer for OpenAI's first open model in years. The company's CEO Sam Altman expects the model to be released after June, as OpenAI wants to "take a little more time" with it. He says it will be "very very worth the wait." Read More

🤔 But a new o3 pro is here: OpenAI launched what it says is its most capable reasoning model yet. O3-pro is a souped up version of the o3 reasoning model now available for ChatGPT Pro and Team. Read More

💰 On the up: TechCrunch has learned that Vast Data, a startup building an AI-friendly data storage platform, is hoping to raise a new round at a $25 billion valuation. That's a large leap from the $9 billion valuation it secured in December 2023. Read More

🪑 Musical chairs in VC Land: Vijay Pande, the man behind Andreessen Horowitz's Bio + Health strategy, is stepping down from his role. The strategy has so far raised four funds, including a $1.5 billion fund that closed in 2022, though this year it's targeting a more modest $750 million fund. Read More

Around the Web

🤖 Get that real-world data: Delivery robot startup Coco Robotics has raised $80 million in funding from OpenAI CEO Sam Altman, SNR, and other backers, per Bloomberg. The round builds on an earlier deal that gives Coco access to OpenAI's technology in exchange for data sharing about delivery trips in urban environments. Read More

🔐 Watch your six: Israeli data security startup Cyera has raised a $540 million round, doubling its valuation to $6 billion, Reuters reports. The startup hopes to help companies stay secure as they push to adopt new AI tools and products. Read More

Before You Go

Image Credits: Bedrock Ocean

🪼 Under the sea: Bedrock Ocean is one of several startups hoping to disrupt the ocean floor mapping industry. The startup has now snagged $25 million in Series A-2 funding, TC has learned, to send its autonomous underwater vehicle to the bottom of the sea. Read More