OpenAI raises $11 billion at $1.25 trillion valuation, source says
SoftBank and MGX participated, two investors said. OpenAI had originally targeted up to $30 billion and sought a $1.5 trillion valuation.
Palo Alto Networks discusses $500 million Clutch Security acquisition
The potential cash purchase would also carry milestone-linked payouts for the startup, whose annual recurring revenue is approaching $10 million.
Palo Alto Networks is negotiating to buy Clutch Security in a transaction involving $500 million in cash and further payments linked to milestones, according to a media report citing a person familiar with the discussions. Clutch develops security for AI agents accessing corporate systems.
The startup, founded three years ago, is nearing $10 million in annual recurring revenue. The person said Clutch's valuation was $85 million at its January 2025 Series A, which raised $20 million with Lightspeed and SignalFire leading the round. The two companies did not answer a request for comment.
Completing the purchase would bring Palo Alto Networks' acquisition count for 2026 to seven, according to PitchBook. Regulatory filings put its purchases of Embrace, Chronosphere and Koi at $325 million, $2.95 billion and $231 million, respectively.
Buyers have also acquired other startups focused on securing AI agents' access. Cyera purchased Oasis Security for $1 billion, while Cisco acquired Menlo Ventures-backed Astrix for roughly $400 million, according to a media report.