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Arvind Jain, CEO of Glean, on SaaS Monster stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal, on Nov. 2, 2022.

Harry Murphy | Sportsfile | Getty Images

Generative AI enterprise search startup Glean announced on Tuesday that it raised $150 million in a Series F financing, pushing up its valuation from investors by billions of dollars in less than a year, to $7.2 billion. 

The company’s last fundraising in September 2024 valued Glean at $4.6 billion.

On Tuesday, Glean was also named to the CNBC Disruptor 50 list for the second-consecutive year.

Glean reported that its annual recurring revenue surpassed $100 million in its last fiscal year, ending Jan. 31, 2025 — less than three years after it was launched by a founding team that includes veterans from Google, Meta, and Dropbox.

“We’re building the platform that brings AI into the fabric of everyday work, connecting people to knowledge, automating tasks, and enabling smarter decisions across the enterprise,” said Arvind Jain, Glean co-founder and CEO, in a release announcing the deal.

In early 2025, Glean launched its agentic AI, Glean Agents, which the company says are on pace to support one billion agent actions by year-end.

More coverage of the 2025 CNBC Disruptor 50

The company’s core product is an AI-powered enterprise search platform that integrates with a wide array of workplace apps — Google Workspace, Microsoft 365, Slack, and Salesforce. Glean uses natural language understanding and machine learning to create a personalized knowledge graph for each user, improving enterprise search results and the ability to generate content, while automating individual workflows and corporate processes. While initially focused on tech industry customers, Glean has expanded to finance, retail and manufacturing.

Jain told Deirdre Bosa, anchor of CNBC’s “TechCheck,” that the capital will allow Glean to double the size of teams in R&D and sales as it pushes further into the large enterprise market, overseas markets, and into more partnerships similar to recent ones with companies including fellow Disruptor Databricks, Snowflake and Palo Alto Networks.

Jain said for many large enterprises across sectors of the economy, the gen AI boom is as much about concern as it is about excitement. “Large enterprises are more worried about this. They don’t want to be left behind,” he told CNBC. “The most important thing that I hear from businesses is they are trying to make sure that their workforce becomes AI-first,” he added.

Wellington Management led the fundraising, with existing investors Capital One Ventures, Altimeter, Citi, Coatue, DST Global, General Catalyst, ICONIQ Growth, IVP, Kleiner Parkins, Latitude Capital, Lightspeed Venture Partners, Sapphire Ventures and Sequoia Capital, all participating in the deal. New investors included Khosla Ventures, Bicycle Capital, Geodesic and Archerman Capital.

While consumer-facing gen AI is growing the fastest — OpenAI says it is adding millions of users an hour, and on Monday reported annual recurring revenue above $10 billion — Jain said the enterprise market has to be thought of in distinct terms. “You have to remember that models like ChatGPT, they don’t know anything about your internal company’s data,” he said. “We’re able to actually use that context and combine it with the power of models to solve real business problems for you.”

OpenAI does have its own enterprise business, which recently passed the three-million user mark.

While Glean has seen exponential growth in recent years, it will continue to face challenges in a competitive market including Microsoft 365 Copilot, Amazon Q Business and ChatGPT Enterprise, along with offerings from fellow Disruptors Perplexity and Writer. Jain said in some cases its technology is not in competition with, but complementing the large language models being developed for the enterprise, such as fellow Disruptor Anthropic‘s Claude.

But the competition is intensifying from all sides and overlapping. “Google, Microsoft, OpenAI, they all want to actually come into this space that we started,” Jain said. “We have a lead. We have deep enterprise technology that we built over these years. … We have to keep innovating. And the good thing for Glean is that we’re not building a product that’s going to get commoditized,” he said.

Currently based in Palo Alto, the company will soon be opening a new office in San Francisco to support its growth.

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U.S. lifts chip software curbs on China amid trade truce, Synopsys says

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U.S. lifts chip software curbs on China amid trade truce, Synopsys says

Synopsys logo is seen displayed on a smartphone with the flag of China in the background.

Sopa Images | Lightrocket | Getty Images

The U.S. government has rescinded its export restrictions on chip design software to China, U.S.-based Synopsys announced Thursday. 

“Synopsys is working to restore access to the recently restricted products in China,” it said in a statement

The U.S. had reportedly told several chip design software companies, including Synopsys, in May that they were required to obtain licenses before exporting goods, such as software and chemicals for semiconductors, to China. 

The U.S. Commerce Department did not immediately respond to a request for comment from CNBC.

The news comes after China signaled last week that they are making progress on a trade truce with the U.S. and confirmed conditional agreements to resume some exchanges of rare earths and advanced technology.

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Datadog stock jumps 10% on tech company’s inclusion in S&P 500 index

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Datadog stock jumps 10% on tech company’s inclusion in S&P 500 index

The Datadog stand is being displayed on day one of the AWS Summit Seoul 2024 at the COEX Convention and Exhibition Center in Seoul, South Korea, on May 16, 2024.

Chris Jung | Nurphoto | Getty Images

Datadog shares were up 10% in extended trading on Wednesday after S&P Global said the monitoring software provider will replace Juniper Networks in the S&P 500 U.S. stock index.

S&P Global is making the change effective before the beginning of trading on July 9, according to a statement.

Computer server maker Hewlett Packard Enterprise, also a constituent of the index, said earlier on Wednesday that it had completed its acquisition of Juniper, which makes data center networking hardware. HPE disclosed in a filing that it paid $13.4 billion to Juniper shareholders.

Over the weekend, the two companies reached a settlement with the U.S. Justice Department, which had sued in opposition to the deal. As part of the settlement, HPE agreed to divest its global Instant On campus and branch business.

While tech already makes up an outsized portion of the S&P 500, the index has has been continuously lifting its exposure as the industry expands into more areas of society.

DoorDash was the latest tech company to join during the last rebalancing in March. Cloud software vendor Workday was added in December, and that was preceded earlier in 2024 with the additions of Palantir, Dell, CrowdStrike, GoDaddy and Super Micro Computer.

Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.

New York-based Datadog went public in 2019. The company generated $24.6 million in net income on $761.6 million in revenue in the first quarter of 2025, according to a statement. Competitors include Cisco, which bought Splunk last year, as well as Elastic and cloud infrastructure providers such as Amazon and Microsoft.

Datadog has underperformed the broader tech sector so far this year. The stock was down 5.5% as of Wednesday’s close, while the Nasdaq was up 5.6%. Still, with a market cap of $46.6 billion, Datadog’s valuation is significantly higher than the median for that index.

— CNBC’s Ari Levy contributed to this report.

CNBC: Datadog CEO Olivier Pomel on the cloud computing outlook

Datadog CEO Olivier Pomel on the cloud computing outlook

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Ether and related stocks gain amid the latest crypto craze: Tokenization

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Ether and related stocks gain amid the latest crypto craze: Tokenization

A representation of cryptocurrency Ethereum is placed on a PC motherboard in this illustration taken on June 16, 2023.

Dado Ruvic | Reuters

Stocks tied to the price of ether, better known as ETH, were higher on Wednesday, reflecting renewed enthusiasm for the crypto asset amid a surge of interest in stablecoins and tokenization.

BitMine Immersion Technologies, a bitcoin miner that announced plans this week to make ETH its primary treasury reserve asset, jumped about 20%. It’s gained more than 1,000% since the announcement. Betting platform SharpLink Gaming, which has also initiated an ETH treasury strategy, added more than 11%. Bit Digital, which last week exited bitcoin mining to focus on its ETH treasury and staking plans, jumped more than 6%.

“We’re finally at the point where real use cases are emerging, and stablecoins have been the first version of that at scale but they’re going to open the door to a much bigger story around tokenizing other assets and using digital assets in new ways,” Devin Ryan, head of financial technology research at Citizens.

On Tuesday, as bitcoin ETFs snapped a 15-day streak of inflows, ether ETFs saw $40 million in inflows led by BlackRock’s iShares Ethereum Trust. ETH ETFs came back to life in June after much concern that they were becoming zombie funds.

The price of the coin itself was last higher by 5%, according to Coin Metrics, though it’s still down 24% this year.

Ethereum has been struggling with an identity crisis fueled by uncertainty about the network’s value proposition, weaker revenue since its last big technical upgrade and increasing competition from Solana. Market volatility, driven by geopolitical uncertainty this year, has not helped.

The Ethereum network’s smart contracts capability makes it a prominent platform for the tokenization of traditional assets, which includes U.S. dollar-pegged stablecoins. Fundstrat’s Tom Lee this week called Ethereum “the backbone and architecture” of stablecoins. Both Tether (USDT) and Circle‘s USD Coin (USDC) are issued on the network.

Fundstrat's Tom Lee on being named chairman of BitMine Immersion Technologies

BlackRock’s tokenized money market fund (known as BUIDL, which stands for USD Institutional Digital Liquidity Fund) also launched on Ethereum last year before expanding to other blockchain networks.

Tokenization is the process of issuing digital representations on a blockchain network of publicly traded securities, real world assets or any other form of value. Holders of tokenized assets don’t have outright ownership of the assets themselves.

The latest wave of interest in ETH-related assets follows an announcement by Robinhood this week that it will enable trading of tokenized U.S. stocks and ETFs across Europe, after a groundswell of interest in stablecoins throughout June following Circle’s IPO and the Senate passage of its proposed stablecoin bill, the GENIUS Act.

Ether, which turns 10 years old at the end of July, is sitting about 75% off its all-time high.

Don’t miss these cryptocurrency insights from CNBC Pro:

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