Technology Sector

Rillet has raised $100 million in a Series C funding round led by ICONIQ at a $1 billion valuation. The financing represents the AI-native enterprise resource planning platform's third round in a single year, pushing its total capital raised past $200 million. The round follows a period where Rillet doubled its new annual recurring revenue over the prior three months, bringing its customer count to more than 600 companies. Rillet replaces legacy accounting systems such as Oracle Fusion, SAP, Workday, and NetSuite by building its general ledger from scratch to allow AI agents and finance teams to operate within a unified ledger. The company counts fast-growing technology firms including Mercor, Neuralink, and Skild AI among its users, alongside expanding adoption across non-technology sectors.

GrapheneOS will launch on Motorola flagship phones in 2027 at prices higher than comparable Pixel models, the privacy-focused Android project confirmed on Mastodon this week. The initial devices will carry Qualcomm's latest Snapdragon flagship processors, which GrapheneOS says offer the strongest available hardware security features—verified boot, hardware-backed key storage, and long-term firmware support. Motorola's current Pixel 11 lineup starts at $900 for the base model and reaches $1,300 for the Pro XL; the Motorola phones will exceed those prices. Lower-end Motorola devices will not launch with GrapheneOS support. Qualcomm's mid-range and budget chips lack the same security architecture and long-term update guarantees that GrapheneOS requires. GrapheneOS also noted that Motorola would need to pay Qualcomm for extended software support on non-flagship devices before those phones could qualify—a cost commitment the company has not made. The partnership, first announced at Mobile World Congress 2026, marks GrapheneOS's first expansion beyond Google Pixel hardware. Devices will not ship with GrapheneOS pre-installed; users will install it via a web-based USB tool, similar to the current Pixel process. GrapheneOS said it will host all Android Open Source Project repositories on its own servers to prepare builds in advance and push code immediately when major Android versions launch, ensuring Motorola devices track updates without months of lag.

Nvidia has taken a minority stake in Cloverleaf Infrastructure, a data center power developer founded in 2024, in a deal expected to be worth several hundred million dollars. Cloverleaf acts as a middleman between utility companies and data center operators, securing long-term power contracts and preparing shovel-ready sites before construction begins. The company has delivered projects totaling more than 7 gigawatts of powered land since its founding and holds a pipeline exceeding 10 gigawatts. Under the partnership, Cloverleaf will adopt Nvidia's DSX platform—a reference design that integrates site selection, power, cooling, computing, and facility decisions earlier in the project lifecycle. Nvidia is embedding itself upstream in the data center supply chain, locking in power capacity years before chips are deployed. The move follows Nvidia's $1.5 billion investment in SB Energy this week and its earlier 20 percent stake in Lancium, signaling a deliberate strategy to control the physical infrastructure bottleneck that now constrains AI data center buildout more than chip availability itself. J.P. Morgan Securities advised Cloverleaf on the transaction, with Kirkland & Ellis as legal counsel.