Bending Spoons Files IPO to Fund Internet Asset Acquisitions

Euwyn Poon, former founder of e-scooter company Spin, has raised $5 million to launch Orbital, a startup planning to build 10,000 space-based data centers. Poon previously scaled Spin to 250,000 scooters before exiting that venture. The funding signals investor interest in orbital infrastructure as a new computing frontier, though the technical and regulatory challenges remain substantial.

Databricks is in talks to raise new funding at a valuation between $165 billion and $175 billion, up from its $134 billion valuation in a late 2025 round. The database management software company could launch the funding round within the next month. The 13-year-old company continues to remain private, raising successive rounds of capital rather than pursuing a public listing.

Crusoe Energy, the data center developer building OpenAI's Stargate supercomputer facility in Abilene, Texas, is facing higher-than-expected costs and technical challenges integrating natural gas turbines with the AI infrastructure. Engineers have been working overtime to resolve compatibility issues between the power generation system and one of the most expensive AI supercomputers ever built. The project, part of OpenAI's broader Stargate computing initiative, is encountering obstacles that were not anticipated during initial planning.

Revolut, the London-based financial app, is launching a secondary share sale targeting at least $750 million, with potential to reach $2 billion based on early investor demand. The offering values the company at $109 billion, or $115 billion accounting for stock option dilution. The sale, set to begin next week, will depend on how many employees and early shareholders choose to sell their stakes at the proposed valuation.