Updated Aug 12
Nov 8, 2026
Revolut Swaps Claude Code for Chinese GLM, Cuts Coding Costs 90%
Revolut has moved roughly 2,000 engineers from Anthropic's Claude Code and OpenAI's Codex to a self-hosted instance of GLM 5.3, an open-weight model from Beijing-based Z.ai, cutting AI-assisted coding costs by approximately 90%. David Abitbol, who leads AI operations and infrastructure at Revolut, shared the migration story at the AI Engineer conference in New York, detailing how the fintech tuned the model from a "terrible" out-of-box experience of 14-second latency down to 1.6 seconds. The move underscores a growing trend: well-funded engineering organizations are betting on self-hosted open-weight models over per-seat SaaS subscriptions for AI coding tools.
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Nov 8, 2026
OpenAI Raises $11B at $1.25T Valuation, Falls Far Short of $30B Target
OpenAI closed the first $11 billion of a funding round that values the company at $1.25 trillion — less than half the $30 billion it originally targeted. The scaled-back raise, confirmed by CFO Sarah Friar, comes as AI stocks tumbled following the midterm elections and investor appetite for big-ticket AI bets shows signs of cooling. For builders and developers relying on OpenAI's platform, the funding gap raises questions about the pace of future model releases and infrastructure investment.
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Jun 13, 2026
SpaceX Colossus AI Compute Goes to Anthropic After Internal Struggles
SpaceX rented out its massive Colossus 1 data center to Anthropic after its own Grok AI teams couldn't overcome latency issues connecting the Memphis facility to two other sites. The deal gives Anthropic 220,000 Nvidia GPUs and 300+ megawatts of capacity to handle surging demand for Claude.
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