Good morning. Here is what caught our eye in the last 24 hours, from the biggest super intelligence funding rounds the world has ever seen to therapy delivered entirely inside virtual reality.
DeepSeek is closing in on up to $15 billion ahead of a 2027 IPO. The Chinese lab, backed heavily by Tencent and battery giant CATL, blew past its original $7.5 billion target after its V4 Flash model set new benchmarks for cost and performance. Why it matters: the next IPO wave in super intelligence could redraw the industry map.
OpenAI, Moonshot, and Lambda are raising billions of their own. OpenAI is reportedly seeking $30 billion at a $1.4 trillion valuation; Moonshot closed its final private round at a $50 billion valuation ahead of a Hong Kong listing; and Nvidia-backed cloud provider Lambda is targeting up to $4 billion with a $50 billion order backlog. Why it matters: the infrastructure bet behind modern super intelligence keeps getting bigger.
Virtual reality therapy just passed its largest trial yet. The Oxford-led gameChange program, trialed across nine NHS trusts, showed that automated VR guided by a virtual coach can help people with psychosis re-engage with everyday life, with the biggest gains for the most severe cases. Why it matters: automated therapy could reach patients who would never otherwise see a therapist.
Japan is the most life changing destination in the world. Adventure travel company Explore Worldwide analyzed over 1,500 traveler accounts and found Japan at the top, followed by India, New Zealand, and Thailand. Why it matters: proof that some trips do more than refresh you. They reshape you.
The BFI London Film Festival turns 70. The landmark edition opens today and runs through October 18, with 251 titles from 88 countries. Why it matters: Europe’s biggest audience film festival keeps proving that cinema remains the culture industry’s best gathering point.
That is the world in three minutes. We will be back tomorrow with the next edition.
