Who funded Canada’s AI scale-up push?

The Frontier

Science & tech breakthroughs in AI models, hardware, and computing that define what's possible

Radical Ventures secures over US$1B for late-stage AI. Radical Ventures completed a first close exceeding US$1 billion for its Radical Breakouts Fund, a late-stage vehicle focused on AI scale-ups. Investors include PSP Investments, CPP Investments, HOOPP, TD Bank Group, BMO Financial Group, CI Global Asset Management and OPTrust.

Radical Ventures’ US$1B-plus first close makes PSP Investments, CPP Investments and TD Bank Group direct backers of late-stage AI; the test at its next disclosed close is whether it names AI scale-ups and investment amounts.

Unite.ai

A wake-up call for global research funding. Nature reports that the U.S. National Science Foundation is set to issue its fewest new grants in four decades after withholding about US$1 billion for the White House’s Grand Research Challenges initiative and withdrawing more than 150 recommended awards. China, by contrast, plans to increase prestigious grants for early-career researchers by 50% this year.

US$1 billion withheld and 150+ withdrawn awards point to an immediate U.S. grant squeeze, while China is positioned to widen its early-career funding advantage. Watch for China’s planned 50% grant increase this year.

Nature

Gates Foundation pledges US$1B to combat AI inequality. The Gates Foundation pledged US$1 billion for artificial-intelligence projects intended to address social inequality. The commitment adds a major source of philanthropic capital to efforts using AI to improve access, public services and economic opportunity.

$1B from the Gates Foundation is a needed bet on AI’s distribution problem: who gets access, better public services and economic opportunity. By 2027, the test is whether those outcomes expand—not simply whether more AI projects receive funding.

New York Times

Model Developments

Latest AI model releases, capabilities, and technical breakthroughs shaping the competitive landscape

Frontier AI buys a 4.4-month lead at 5x the cost. Mozilla’s State of Open Source AI report found that leading open-weight models from Chinese developers trail leading U.S. frontier models by 4.4 months on the Artificial Analysis Intelligence Index. Moonshot AI’s Kimi K3 scored three points below Anthropic’s Fable 5 while costing substantially less, narrowing the performance premium for closed frontier systems.

Anthropic’s 5x price premium is the vulnerability, not its 4.4-month lead: Kimi K3 is 3 points behind Fable 5 at 30% of the cost. The test over the next 4.4 months is whether Anthropic narrows that price gap or widens the score gap.

Ars Technica

Capital & Control

Tracking the flow of capital and influence that shapes the tech landscape

Radical Ventures launches Canada’s largest AI fund. Toronto-based Radical Ventures launched its Radical Breakouts Fund with a first close of more than US$1 billion, describing it as Canada’s largest venture-capital fund. The late-stage AI vehicle is backed by major Canadian pension funds and financial institutions, including CPP Investments, PSP Investments, HOOPP, TD, BMO, CI Global Asset Management and OPTrust.

Radical Ventures’ US$1B Breakouts Fund gives Canadian institutions a credible late-stage AI investment vehicle, but fundraising alone does not reduce reliance on foreign-led rounds. The test is whether it discloses a late-stage AI investment by September 2026.

Betakit

Infrastructure & Power

The physical backbone of AI: compute, data centers, supply chains, and the geopolitics of energy

EPA moves to erase power-plant climate rules. The Environmental Protection Agency issued a final action overturning most of the Biden administration’s 2024 Carbon Pollution Standards for power plants. The agency said the rule relied on control technologies not adequately demonstrated under the Clean Air Act, and separately proposed revoking remaining greenhouse-gas requirements for power plants.

EPA’s action dismantles most federal carbon standards for power plants, not merely revises them. Its proposal to revoke the rest would leave no federal greenhouse-gas requirements in place; the test is whether that proposal is finalized.

Ars Technica

Digital Defense

Threats and defenses shaping the global security landscape

NSA plans dedicated AI, China and cyber centers. The National Security Agency is planning a major reorganization that would establish dedicated centers for artificial intelligence, China and cyber operations, according to Nextgov. The restructuring places AI development and competition with China alongside core cyber missions within the agency’s operating structure.

NSA’s plan for three dedicated centers would elevate AI and China alongside cyber as core operational pillars. The test is whether the reorganization assigns each center distinct missions and authority.

Nextgov

The Performance Edge

Peak performance science for sustained execution in high-stakes environments

Nearly 10,000 patients clarify knee arthritis relief. An analysis of 139 clinical trials involving nearly 10,000 participants found that knee braces ranked highly for reducing pain, stiffness and mobility limitations in knee osteoarthritis. Water-based therapy was particularly effective for pain, while regular exercise consistently improved pain and physical function; ultrasound performed less well.

139 trials make braces the strongest non-drug knee-OA option, with water therapy and exercise ahead of ultrasound. Watch for coverage and guideline changes within 18 months.

Science Daily

Market Pulse

Daily market data: indices, sectors, top movers, and volatility

Markets retreat as energy leads. The S&P 500 fell 0.4%, the Nasdaq 100 declined 0.3%, the Dow dropped 0.8% and the Russell 2000 lost 0.9%, with small caps lagging. Energy gained 1.4% while Consumer Staples fell 0.9%; COIN sank 6.6%, while AMD rose 3.2% and ARM added 3.1%.

AMD +3.2% and ARM +3.1% were selective winners, not proof of broad risk appetite: the S&P 500 fell 0.4%, Russell 2000 lost 0.9%, and COIN dropped 6.6%. Energy’s 1.4% gain led the market. The test is whether AMD and ARM keep outperforming as small caps lag.

Yahoo Finance