With plenty of volatility, growing market unease, and spreading clouds of war, I thought it might be useful to share a snapshot of what’s actually trading this week in the pre-IPO market.
There’s a lot of news right now—IPO timelines are shifting (Kraken is only one example), but other companies are closing record rounds. And beneath the fear, we continue to close trades. A select handful of companies are actively trading, from Anthropic to xAI, and the next generation of defense firms.
Below are ten news clips from the past few days:
1. 1X Technologies (European Robotics). 1X World Model & NVIDIA Cosmos (March 17, 2026) — NVIDIA just unveiled Cosmos world models featuring 1X’s NEO robot as a core pilot, signaling that 1X is transitioning from R&D to a production-ready “physical AI” platform.
2. Anthropic. Anthropic Nears $20 Billion Revenue Run Rate Amid Pentagon Feud (March 3, 2026) — Anthropic just closed a record $30B round at a $380B valuation, reporting that annualized revenue hit $14B—a 10x jump that explains why our secondary supply disappears instantly.
3. Hark Labs. Hark Poaches Apple’s Top Designer (March 19, 2026) — Brett Adcock’s new AI lab just hired Apple’s iPhone Air lead designer to build “human-centric” AI hardware, fueling momentum for this new trade following his $100M personal seed check. Follow the latest venture from the founder of Figure AI.
4. Gecko Robotics. $71M Navy IDIQ Contract (March 17, 2026) — Gecko just secured a $71M contract to deploy wall-climbing robots across the Navy’s Pacific Fleet, providing the stable, high-margin government revenue investors are currently chasing.
5. Kalshi. March Volume Projected at $12.6B (March 21, 2026) — Kalshi is on track for its biggest month ever with a projected $12.6B in notional volume, proving that regulated prediction markets have moved from niche experiments to institutional-grade asset classes.
6. Kraken. Kraken Pauses IPO (March 18, 2026) — With Kraken officially shelving its Q1 IPO plans due to “weak market conditions,” we are seeing more flexible sellers emerge, making this a tactical window to test the valuation floor.
7. Nscale (AI Infrastructure). $2B Series C & Sandberg Joins Board (March 9, 2026) — Nscale’s $2B Series C—the largest in European AI history—values the firm at $14.6B as it builds out 1.3 gigawatts of data center capacity across the UK and Norway.
8. Saronic (Naval Autonomy). $392M Navy Production Deal (Feb 26, 2026) — The Navy moved Saronic’s Corsair vessel from prototype to a $392M production contract in under a year, a “war-footing” pace that signals massive tailwinds for autonomous maritime strike.
9. Scout AI. Ukraine Opens Combat Data to AI Allies (March 13, 2026) — Geopolitical shifts are driving a 139% surge in defense robotics funding, with Scout AI positioned to benefit from new Western initiatives in autonomous situational awareness.
10. Shield AI. Secondary Market ROI Up 60% (March 9, 2026) — Shield AI has seen +60% returns in the secondary market over the last 90 days, with $1.6B in transaction activity reflecting high institutional conviction ahead of its next capital raise.