StrictlyVC

Just a quick reminder that we’re shutting down this baby for a couple of weeks beginning on Monday for our Annual Summer Break™. (We mentioned this last week, but in case you missed it . . .) Top News OpenAI disclosed that its rogue AI agent used exposed credentials to gain unauthorized access to accounts on four additional online services in addition to attacking Hugging Face. Gizmodo has more here.

Our newest StrictlyVC Download episode is out, with Delian Asparouhov of Founders Fund and Saif Khawaja of Shinkei, a robotics company with big ambitions to reimagine the seafood industry. We recorded this one at our most recent StrictlyVC night in L.A. If you’re going to be in New York on September 10, we hope you’ll join us for our next one (they’re fun). You can nab a seat here; space is limited.

Happy Juneteenth, and happy Father's Day to all the dads reading! We've been in transit and mostly offline today, so we're sending you into the weekend with an abbreviated newsletter — see you Monday. P.S. For those of you looking for some pictures from last night’s event, you can find them here.

Bloop. As many of you let us know, we forgot to link to our interview with Chi-Hua Chien of Goodwater Capital in last night's newsletter; apologies. Here is that link, and here is the podcast interview if you'd rather hear the whole thing. (Also, the podcast introduction said Facebook was founded at Stanford — clearly we need more sleep.) Speaking of which, we had a great night in El Segundo at our StrictlyVC event. So fun.

Top News SpaceX agreed to buy Anysphere – the three-year-old San Francisco company behind AI coding tool Cursor – for $60 billion in stock, a deal meant to bolster SpaceX’s AI ambitions by pairing Cursor’s developer base and coding-agent business with Musk’s Colossus supercomputer. TechCrunch has more here.

Looking forward to Thursday night in L.A.! Chang Xu of Basis Set Ventures is joining an already stacked roster that includes Founders Fund's Delian Asparouhov, M13's Carter Reum, Shinkei Systems' Saif Khawaja, and Mach Industries' Ethan Thornton, all under the roof of Aerospace Corporation in El Segundo, which feels like the right spot, given SpaceX's IPO. More details here.

Top News Anthropic released Claude Fable 5, the first public version of its powerful Mythos model, making the technology available through its API and enterprise plans while blocking or deferring answers in high-risk areas like cybersecurity, biology, chemistry, and model distillation. The launch comes with a mandatory 30-day data-retention policy for all Fable 5 and Mythos 5 traffic, which Anthropic says is needed to detect jailbreaks and other novel attacks. TechCrunch has more here.

Top News OpenAI filed confidentially to go public, following rival Anthropic and setting up a potential IPO race among two of the biggest AI labs and SpaceX even as OpenAI faces questions about its massive compute spending, missed growth targets, governance, lawsuits, and when it can generate more cash than it burns. TechCrunch has more here.

Top News SpaceX is eyeing a roughly $1.75 trillion valuation in its IPO next week and is expected to sell less than 5% of its shares, or about $60 billion to $80 billion worth, with pricing expected June 11th and trading on Nasdaq under the ticker SPCX expected June 12th. The Wall Street Journal has more here.

Thanks very much to the hundreds of you who joined us at the StrictlyVC event today in Athens; it was a wonderful day. Enormous thanks again to our partner in the affair, Endeavor, whose team brings exceptional care to everything they do. For those of you who missed it, we’ll have more coverage and photos soon. We’re moderating some founder discussions on Thursday and sitting down with Neil Rimer of Index Ventures on Friday for a fireside chat.