The funding floodgates have opened

Author

Jackson Berger
January 08, 2026

TL;DR. Whether staying private or going public, 2026 is already shaping up to be a massive year for funding. Elon Musk’s xAI kicked things off with a $20B raise and a deal with the Department of Defense, while rival Anthropic is reportedly doubling its valuation with a fresh $10B round. Discord also filed confidentially for an IPO, signaling strong momentum in what’s expected to be a blockbuster year for tech listings.

Elon Musk’s xAI raises $20B from Nvidia, Cisco, and Fidelity

xAI closed a $20B funding round, surpassing its initial $15B target and bringing its valuation near $230B. Investors include Nvidia, Cisco, and Fidelity. Despite regulatory scrutiny over its Grok chatbot and environmental concerns, xAI secured a deal with the Department of Defense, and is hot on the tails of competitors Anthropic and OpenAI.

Anthropic reportedly raising $10B at $350B valuation

Anthropic is reportedly raising $10B at a $350B valuation, nearly doubling its valuation from just three months ago. The round, led by Coatue and GIC, comes as the Claude AI chatbot maker wins favor among developers and gears up for a 2026 race to an IPO against rival OpenAI.

Discord moves toward public debut with confidential IPO filing

Discord has confidentially filed for an IPO in the U.S., working with Goldman Sachs and JPMorgan. With over 200M monthly users and revenue driven by its Nitro subscriptions, Discord aims to capitalize on the rebound in the tech IPO market. A recent leadership change further signals strategic readiness for the public stage.

Augment Nominated for the 2025 SecLink Awards

Augment was nominated for the 2025 SecLink Awards, recognizing the most influential players in the secondary market. We’re honored to be included alongside firms shaping the future of private market liquidity.

Voting is now open and runs through January 25th.

Thanks to the SecondaryLink team and to everyone who has supported us this past year.

Quick Takes

Pulse check. Capital this week is flowing into AI-native commerce, enterprise infrastructure, and physical world automation. Investors are leaning into founders with operating pedigree and companies tackling hard, real-world problems, from regulated industries to robotics and defense. Here’s what’s catching investor attention:

More notable fundings this week

Swap Commerce: $100M Series C - Swap Commerce raised $100M just six months after closing a $40M Series B, signaling strong investor conviction in its AI-powered commerce platform. Backed by DST Global and Iconiq, the company helps brands manage storefronts, cross-border payments, inventory, and returns, with growing traction among luxury retailers.

Articul8: $70M Series B at $500M pre-money valuation - Articul8, an enterprise AI company spun out of Intel, has secured more than half of a planned $70M Series B at a $500M pre-money valuation. The first tranche was led by Adara Ventures. The company is positioning itself as a go-to AI platform for highly regulated industries where security and reliability are critical.

Lyte AI: $107M total funding - Lyte emerged from stealth with $107M in aggregate funding to build perception systems for robotics and physical AI. Investors include Fidelity, Avigdor Willenz’s group, Atreides, Exor Ventures, and others. The company combines custom silicon, sensors, and software to help machines safely understand and operate in complex physical environments.

Cambium: $100M Series B - Cambium raised a $100M Series B led by 8VC, with participation from Lockheed Martin Ventures, MVP Ventures, Alumni Ventures, and others. The company develops advanced materials for defense, aerospace, and other high-performance applications, reflecting sustained investor interest in strategically important industrial tech.

Spangle: $15M Series A at $100M valuation - Spangle, an AI-driven e-commerce startup founded by former Bolt CEO Maju Kuruvilla, raised $15M to triple its valuation to $100M. The round was led by NewRoad Capital Partners with participation from Madrona, DNX Ventures, Streamlined Ventures, and strategic angels. The company is focused on applying AI to modernize online commerce experiences.

Been a pleasure!
-Jack