Good morning. Today capital sets the scale, medicine gets a striking new result, and the tools we use to create and work keep becoming more capable on their own.

OpenAI is in advanced talks for a $30 billion raise at a $1.25 trillion valuation. Led by Coatue and investors from the UAE, the round would make OpenAI the most valuable private company on record and comes ahead of a planned public listing. In the same week, DeepSeek raised about $15 billion from backers including CATL and Tencent, one of the largest rounds in China. Why it matters: the race for super intelligence is now funded at a scale once reserved for nations, and both sides of the Pacific are paying for it.

Microsoft reports a medical diagnostic system that more than doubled doctors on hard cases. Published in Science, the MAI-DxO system works like a panel of clinicians, asking questions in sequence, ordering tests and revising its thinking as results arrive. It solved 83 percent of complex cases drawn from the New England Journal of Medicine, compared with 36 percent for general physicians working alone. Why it matters: Microsoft calls this a step toward medical super intelligence, and the gain came from working through a case step by step rather than answering all at once.

Meta posts $64.6 billion in quarterly revenue and creates a new share class to fund its buildout. Third quarter revenue rose 26 percent year over year, and Meta announced a publicly listed, non-voting Class C stock, effective January 19, 2027, to be distributed one for one to existing shareholders. Capital spending reached $34.91 billion in the quarter alone. Why it matters: one of the strongest advertising businesses in the world is now reshaping its own capital structure around the cost of super intelligence.

Former OpenAI science chief Kevin Weil launches Warp Sciences with $215 million for robot chemistry labs. The company, valued at $865 million and led by Lightspeed, trains robots on human chemists wearing cameras and sensor gloves so they can make and test drug compounds around the clock. Why it matters: models can now propose drug candidates quickly, and Warp is betting the next fortune sits in the slow physical work of actually making them.

Canva launches Craft, its first image generation model built from scratch. Trained on Canva’s library of human designed templates rather than photographs, Craft plans a layout before it renders, produces images up to 2K, writes text in 55 languages and feeds directly into editable, layered designs. It is live now in Dream Lab and through the public API. Why it matters: design tools are becoming design makers, and Canva is choosing to own the model instead of renting one.

Anthropic donates its Agent Skills standard to the Linux Foundation. The format, first built for Claude Code, lets developers package reusable instructions for agents in a simple file, and more than 70 platforms including ChatGPT, Cursor and GitHub Copilot have already adopted it. It will now be maintained openly under the Agentic AI Foundation. Why it matters: the plumbing of the agent era is being handed to a shared foundation, which makes skills portable across rival tools instead of locked inside one.