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Trump Calls Off AI Executive Order at Last Minute, Saying It Could Hurt America's Lead in the Technology
Trump cancelled a planned White House AI executive order signing hours before the ceremony on Thursday, telling reporters he didn't like the text because it could slow America's lead over China on AI. The order had been expected to create model-vetting partnerships with major AI labs. No new timeline has been announced, leaving federal AI policy in continued limbo as state-level rules keep filling the vacuum. Read more
Sagard Launches $150 Million USD AI Fund Backed by Power Corporation, Great-West Lifeco, and IGM Financial
Canada's Power Corp and its affiliates committed $206 million CAD to a new Sagard AI Fund targeting companies accelerating AI adoption in financial services globally. The structure is strategic, not purely financial - designed to give the Power Corp group market intelligence, commercial partnerships, and pilot opportunities across its companies. A template for how institutional capital can build AI exposure without a billion-dollar bet. Read more
TD Bank Launches First Agentic AI Model to Automate Mortgage and HELOC Applications End to End
TD announced today the launch of its first agentic AI model, built by its Layer 6 AI centre, which automates mortgage pre-adjudication summary memos from hours to minutes. It is the first step in a planned end-to-end agentic transformation of real estate secured lending - and part of a broader target to generate $1 billion in annual value from AI. This is what enterprise AI deployment actually looks like in production. Read more
Anthropic and OpenAI Now Control 89% of AI Startup Revenue as $80 Billion Market Grows 112% in Six Months
The Information's new analysis of 34 leading AI startups shows the market consolidating fast: $80 billion in annualized revenue, up 112% in six months, with Anthropic and OpenAI capturing 89 cents of every dollar - up 4.5 points from six months earlier. Anthropic recently passed OpenAI in revenue on the strength of its coding tools. Outside the top two, Perplexity, ElevenLabs, and Cognition have each crossed $500 million. Read more
Mistral AI Acquires Austrian Startup Emmi AI to Lead Europe's Industrial AI Push in Aerospace, Automotive, and Semiconductors
Mistral acquired Vienna-based Emmi AI - a physics AI startup that simulates airflow, heat transfer, and material stress for industrial engineers - marking its second acquisition in three months. Linz will become an official Mistral office. The deal is a clear signal that the next AI battleground is not chatbots but domain-specific industrial AI embedded in engineering workflows where the economic stakes are enormous. Read more
📢 The Signal Behind the Noise
Trump pulled his own AI order because he feared it would slow the country down. TD launched an AI agent to handle the paperwork that slows mortgages down. And two companies now own 89% of an $80 billion market that didn't exist three years ago.
The regulatory framework is still being written. The market is not waiting for it.
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