A lot of AI startups exist partly because the foundation models haven't expanded into their category yet. As many jokingly acknowledge, that won't last forever.

For most of its life, Airwallex and Stripe have mostly operated in different geographies, selling to different buyers. That's changing.

The fundraise is the first major capital raise under Sequoia's new leadership, with Alfred Lin and Pat Grady now serving as co-stewards of the 54-year-old firm.

The new model, called π0.7, represents what the company describes as an early but meaningful step toward the long-sought goal of a general-purpose robot brain.

Airwallex, valued at $8 billion, is launching a point-of-sale product that lets businesses accept in-person payments in multiple countries via a single platform.