NVIDIA's venture arm, NVentures, participates in Legora D's Series D funding round for AI platform targeting lawyers
NVIDIA’s corporate venture arm NVentures has made its first foray into legal AI by investing in Swedish legal tech startup Legora, according to TechCrunch reports cited by TechWatch Beating monitoring.
Legora— which uses AI to help lawyers boost efficiency and compete with U.S.-based rival Harvey— has closed a $50 million Series D extension round. The new funding comes just one month after the company wrapped up a $550 million Series D round.
The Y Combinator alum has also surpassed $100 million in annual recurring revenue (ARR) — a milestone that lifted its post-money valuation to $5.6 billion. That figure narrows the gap with Harvey, which hit an $11 billion valuation last month.
Additional investors in the round include Atlassian, Andreessen Horowitz, Coatue Management, Conviction Partners, Evantic (led by Matt Miller), and Kleiner Perkins.
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LAB "Flash Crash" Plunges Over 80%, $24-Hour Contract Liquidation Surpasses All Platforms
On May 3, LAB experienced a flash crash this morning after hitting $4.1, dropping as low as $0.6708—plunging over 80% in 6 hours—before rebounding to $1.19, per HTX data.
LAB contract trading liquidations totaled $39.39 million in the past 24 hours, leading all assets. Long position liquidations amounted to $15.42 million, while short position liquidations hit $23.97 million.
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Founders Fund has completed its largest-ever fundraising, raising $6 billion.
May 3 (Bloomberg) — Silicon Valley investor Peter Thiel’s Founders Fund has raised $6 billion for late-stage investments, its largest-ever fundraising, a source told Bloomberg.
Some $4.5 billion of the capital comes from limited partners, including sovereign wealth funds, the source said. The remaining $1.5 billion is from the firm’s senior management and employees, including Thiel himself.
The fund—Founders Fund’s fourth growth-stage vehicle—was raised shortly after its predecessor launched, marking the fastest fund shift in the firm’s 20-year history. The quick launch of a larger fund reflects growing demand for large sums from mature startups, which are increasingly turning to private investors instead of public markets.
Other VC firms are also raising billions for late-stage bets, partly because tech companies need more cash to cover costly computing resources. Sequoia Capital recently raised ~$7 billion for a new fund to boost stakes in large companies, while Thrive Capit
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Hyperliquid's first HIP-4 binary prediction market smart contract has surpassed $2.38 million in trading volume
May 3
Per Hyperliquid’s official website, the first HIP-4 binary prediction market contract—launched at 4:00 PM UTC on May 2 and titled “Will BTC be above $78,213 at 2:00 PM UTC on May 3?”—has accumulated open interest of $1.818 million. In nearly 19 hours since launch, total trading volume has hit $2.384 million, with the current implied probability standing at 0.497.
Under the HIP-4 proposal, the Outcomes contract uses a full-collateralization model that eliminates liquidation risk entirely. Its nonlinear settlement structure offers users option-like flexibility, broadening the range of available trading strategies. Plus, natively integrated with the HyperCore chain, it shares cross-margin with the platform’s spot and perpetual contracts, enabling seamless liquidity interoperability and reuse.
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Berkshire Hathaway CEO: Large-Scale Data Center Construction to Bring Huge Growth Opportunity to Utility Industry
On May 2, at Berkshire Hathaway’s annual shareholders meeting—its first since Warren Buffett stepped down as CEO earlier this year—new chief Greg Abel noted the company has long taken a cautious stance on using and managing artificial intelligence, in stark contrast to peers actively reshaping or rebranding their businesses around AI.
“AI has to deliver incremental value to our business,” Abel said. “We won’t use it just for the sake of using it.”
Abel added Berkshire will deploy AI in a narrow scope, with a focus on generating tangible value. He also noted the technology carries certain risks for society, and the firm will factor those into its AI efforts. Meanwhile, data center construction and their grid electricity demands are creating major growth opportunities for utility companies—though energy demand remains well below peak load capacity.
Ahead of the meeting, Berkshire’s latest financial report showed its cash reserves hit a record high of nearly $400 billion.
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Buffett: Current Environment Not Ideal for Berkshire's Capital Deployment
On May 3, Warren Buffett told CNBC in an interview: “The current market environment isn’t ideal for deploying Berkshire Hathaway’s funds.” He noted Berkshire’s top-tier management team is capable of both seizing opportunities and waiting patiently for the right targets.
Berkshire Hathaway hosted its annual shareholder meeting on May 2 — the first since Buffett stepped down as CEO earlier this year, handing the role to Greg Abel. Ahead of the meeting, the company’s latest financial filing revealed its cash hoard hit a record $400 billion.
Buffett added that while outsiders might see Berkshire as inactive at times, the company acts decisively when the moment is right. He acknowledged the reluctance to deploy large sums of capital stems in part from sky-high overall market valuations. When asked when the right time to invest would be, Buffett said it would come when “no one is willing to pick up the phone” — a sign the opportunity will naturally present itself.
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