BitGo Jumps 25% in NYSE Debut, Valued at $2.6 Billion
Crypto custody and digital asset infrastructure firm BitGo made an impressive entry into public markets on Thursday, with its shares surging nearly 25 percent in its New York Stock Exchange debut, valuing the company at approximately $2.6 billion. The strong opening marked one of the most significant crypto-related listings in recent years and signaled renewed investor confidence in the sector.
Trading under the ticker BTGO, BitGo priced its initial public offering conservatively but was met with strong demand from institutional and retail investors alike. The stock opened well above its issue price, reflecting optimism around companies that provide secure and regulated services to the rapidly evolving digital asset ecosystem.
Founded in 2013, BitGo is best known for its cryptocurrency custody, wallet infrastructure, and settlement services used by exchanges, asset managers, and financial institutions worldwide. Unlike crypto trading platforms that are heavily exposed to market volatility, BitGo’s business model is largely based on fees from safekeeping and transaction processing, making it more resilient during downturns in crypto prices.
Market participants view BitGo’s successful debut as a sign that investors are selectively returning to crypto-linked equities, focusing more on infrastructure and compliance-driven firms rather than speculative trading businesses. The listing is also being interpreted as a positive signal for other crypto companies considering going public after a prolonged period of muted IPO activity.
However, analysts caution that while the debut was strong, the stock’s long-term performance will depend on regulatory clarity, sustained institutional adoption of digital assets, and BitGo’s ability to scale profitably in an increasingly competitive market.
The company has indicated that proceeds from the IPO will be used to expand its global operations, invest in product development, and strengthen regulatory and compliance frameworks across key markets.
As crypto markets mature, BitGo’s public listing could represent a turning point, highlighting a shift toward more transparent and institution-friendly crypto businesses. Whether this marks the beginning of a broader revival in crypto IPOs remains to be seen, but BitGo’s Wall Street debut has undoubtedly reignited excitement around the sector.
From Berkeley Lab to $400 Million Startup: SGLang Becomes RadixArk
A research project born inside a University of California, Berkeley lab has transformed into a high-profile artificial intelligence startup valued at nearly $400 million. The project, originally known as SGLang, has now spun out as a standalone company called RadixArk, highlighting the growing commercialization of academic AI breakthroughs.
SGLang began as an open-source framework designed to improve the efficiency of AI inference — the stage where trained models generate responses. As demand for large language models surged across industries, SGLang gained rapid traction for its ability to reduce computing costs and accelerate performance, making it especially attractive to companies deploying AI at scale.
Recognizing its commercial potential, the creators behind SGLang formed RadixArk to bring the technology into the enterprise market. The company is positioning itself as a core infrastructure provider in the booming AI ecosystem, offering tools that help organizations run powerful AI models faster, cheaper, and more reliably.
Unlike many AI startups focused on building consumer applications, RadixArk is targeting the less visible but highly valuable layer of AI infrastructure. By focusing on inference optimization rather than model training, the startup aims to become a key enabler for companies looking to deploy AI products efficiently, from chatbots and recommendation engines to enterprise automation systems.
The $400 million valuation reflects growing investor interest in companies that support AI deployment rather than compete directly with model developers. As cloud costs and energy consumption become critical challenges for the AI industry, solutions like those offered by RadixArk are increasingly viewed as essential.
RadixArk has also pledged to maintain strong ties with the open-source community, continuing to support SGLang as a public project while building commercial offerings around hosting, enterprise support, and advanced optimization tools.
The journey of SGLang to RadixArk underscores a broader trend in artificial intelligence: innovations that once lived only in academic settings are now rapidly evolving into major commercial ventures. As AI continues to reshape industries, startups like RadixArk may play a pivotal role in determining how efficiently and sustainably that transformation unfolds.
SpaceX Selects BofA, Goldman, JPMorgan and Morgan Stanley for Potential $350B+ IPO
Elon Musk’s SpaceX has taken a major step toward a long-awaited initial public offering by selecting four of Wall Street’s most powerful investment banks — Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley — to lead what could become one of the largest IPOs in history.
The move signals SpaceX’s growing seriousness about entering public markets after more than two decades as a private company. If the offering proceeds as expected, SpaceX could be valued at over $350 billion, placing it among the most valuable publicly traded firms in the world and rivaling some of the biggest technology and industrial giants.
The chosen banks are expected to oversee the core aspects of the IPO process, including regulatory filings, pricing strategy, investor outreach, and share allocation. Morgan Stanley is seen as a particularly influential partner due to its longstanding relationship with Musk and its role in several high-profile technology listings in the past.
A SpaceX IPO would mark a turning point not only for the company but also for global capital markets. It would dwarf most recent public offerings and could reshape investor exposure to the commercial space industry, a sector once dominated entirely by government agencies.
Beyond providing liquidity for early investors and employees, the IPO could inject tens of billions of dollars into SpaceX’s ambitious plans. These include expanding its Starlink satellite internet network, accelerating development of its reusable Starship rocket, and pursuing longer-term goals such as lunar missions and human exploration of Mars.
However, significant uncertainties remain. The exact timing, structure, and size of the offering are still under discussion, and the listing will depend heavily on broader market conditions and regulatory approvals. SpaceX has also historically been cautious about going public, with Musk often expressing concern about short-term market pressures conflicting with long-term innovation goals.
Still, the decision to formally line up top-tier investment banks suggests momentum is building. If successful, a SpaceX IPO could redefine how private space companies transition into public markets and set a new benchmark for future mega listings.
Index Backs LiveKit to $1 Billion Unicorn Status on Voice AI Infrastructure
LiveKit, a rapidly growing startup specializing in real-time voice and AI infrastructure, has reached unicorn status with a valuation of $1 billion after securing a major funding round led by Index Ventures. The milestone highlights growing investor confidence in the future of voice-driven artificial intelligence and the critical infrastructure required to power it.
Founded as an open-source project, LiveKit initially focused on providing developers with tools for real-time audio and video communication. As artificial intelligence evolved toward more conversational and interactive systems, LiveKit pivoted into becoming a foundational layer for voice AI, enabling low-latency, scalable communication between users and AI models.
Unlike consumer-facing AI companies, LiveKit operates behind the scenes, building the networking and media pipelines that allow voice-based AI agents to function smoothly in real time. This includes handling challenges such as latency, reliability, and global scalability — factors that are essential for creating natural, human-like voice interactions.
LiveKit’s technology has gained traction among companies developing AI-powered voice assistants, customer support bots, and real-time conversational tools. Its infrastructure is increasingly seen as a core component of next-generation AI applications, where spoken interaction is expected to become as common as typing.
The new funding will allow LiveKit to expand its global infrastructure, invest in product development, and support enterprise adoption across industries such as customer service, healthcare, education, and automotive. Investors believe that as AI becomes more embedded in everyday digital experiences, demand for high-performance voice infrastructure will grow sharply.
Index Ventures’ backing reflects a broader shift in AI investment, with growing attention on “picks and shovels” companies that enable AI rather than compete directly in building models. These infrastructure providers are viewed as more durable and scalable businesses in the long term.
LiveKit’s rise to unicorn status underscores how voice AI is moving from experimental technology to essential digital infrastructure. As conversational AI becomes central to how people interact with software, companies like LiveKit are positioning themselves at the heart of this transformation.
Neurophos Bags $110 Million to Make AI Compute 100x More Energy Efficient
Deep-tech startup Neurophos has raised $110 million in fresh funding to develop breakthrough hardware aimed at making artificial intelligence computing up to 100 times more energy efficient, tackling one of the biggest challenges facing the AI industry today.
As AI models grow larger and more powerful, the energy required to run them has surged, putting pressure on data centers, power grids, and sustainability goals. Neurophos believes it has a solution by replacing traditional electronic processing with photonic computing — using light instead of electricity to move and process data.
Unlike conventional chips that rely on electrons flowing through transistors, Neurophos’s technology uses photons traveling through microscopic optical circuits. This allows massive parallel processing with far less heat generation and power consumption. The company claims its approach can dramatically reduce the energy cost of both training and running AI models while maintaining extremely high performance.
The funding will be used to accelerate development of Neurophos’s optical processing units and scale them for data-center deployment. The startup is also investing in software tools that allow developers to easily run AI workloads on its novel hardware, helping bridge the gap between cutting-edge research and real-world use.
Industry experts see photonic computing as a promising frontier for AI, especially as conventional silicon chips approach physical and thermal limits. With energy becoming one of the most expensive inputs in AI operations, more efficient computing architectures could determine which companies lead the next phase of artificial intelligence.
Neurophos’s vision goes beyond incremental improvements. By aiming for a 100x efficiency gain, the company is targeting a structural shift in how AI is built and deployed. If successful, its technology could lower costs for cloud providers, reduce carbon footprints, and make powerful AI more accessible worldwide.
While challenges remain in manufacturing, integration, and market adoption, the scale of the investment reflects strong confidence in the company’s approach. As AI demand continues to rise globally, solutions like those from Neurophos may play a critical role in ensuring that the future of artificial intelligence is not only more powerful, but also far more sustainable.
