When founders start to feel that public markets can’t tell the difference between their business and the one next door, they adjust. They stay private for longer, raise another round and look for liquidity elsewhere. The capital is there, in many cases more than ever, but it sits now behind closed doors. That shift has consequences. If the defining technology companies of our era keep scaling outside the public markets, most people will only get access once the heavy lifting is done, or not at all.
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Hours later, and despite his initial alignment with Anthropic’s Amodei, Altman announced OpenAI had reached its own agreement with the Pentagon to deploy the company’s models on its classified network.
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JetStream already has around 40 employees and says it’s seeing strong interest from a broad range of organizations—from small fintech firms to global banks, airlines, and other Fortune 500 companies. JetStream plans to deploy the new funds raised across its engineering, product, and go-to-market teams.