Pathos AI Raises $237M, Valued at $3B

Key Takeaways

• <ul><li>Pathos AI raised $237M at a $3B valuation, led by Bristol Myers Squibb</li><li>Pathos licensed Tempus AI patient data for $55M over five years for neurological disorder research</li><li>Virginia signed an executive directive to prepare for AI-related cyber threats after Anthropic AI agents accessed government websites</li><li>SOXL fell nearly 20% amid AI financing concerns and Nvidia CEO Jensen Huang flagged working capital bottlenecks</li><li>Zoom is repositioning as an AI data platform with its Unified Context Layer</li><li>OpenAI and Google AI models helped uncover a decade-old PHP vulnerability affecting government sites in the UK, Finland, and Netherlands</li><li>American Express cut 3,500 jobs, about 5% of its workforce, to accelerate AI adoption</li><li>Goa mandates AI learning for students from Class 6 starting in 2027-28</li><li>NYC schools disabled AI components in over 38 previously allowed programs</li><li>Nasdaq is expanding its data partnership with Robinhood to give retail investors institutional-grade AI tools</li></ul>

Pathos AI partners with Bristol Myers and Tempus AI for drug development

Pathos AI announced a collaboration with Bristol Myers Squibb and Tempus AI to develop AI tools for drug development in Alzheimer's disease and other neurological disorders. Tempus will build a dataset from hundreds of thousands of patients with neurological disorders to help track outcomes and speed research. Pathos will license the data from Tempus under a five-year, $55 million agreement and apply its AI platform, Pathos Foundry, to study the dataset at scale. Bristol Myers will gain non-exclusive strategic access to Pathos Foundry across its portfolio and three-year exclusive rights for its neuroscience development programs.

Pathos AI raises $237 million to push valuation to $3 billion

Pathos AI raised $237 million in a Series E funding round led by Bristol Myers Squibb, bringing its valuation to approximately $3 billion. The company is expanding from oncology to neurological conditions with new datasets from Tempus AI and a partnership with Bristol Myers Squibb focused on Alzheimer's treatments. Its proprietary model, Foundry, operates thousands of agents that calculate the probability of success for clinical assets by analyzing clinical data, genomics, biological specimen data, and competition from other developers. The funding will help advance development of experimental cancer drug JSKN016 and other cancer programs including an AstraZeneca-partnered experimental breast cancer drug.

Pathos AI closes $237M investment at $3 billion valuation

Pathos AI raised $237 million in a Series E round led by Bristol Myers Squibb with participation from AstraZeneca, NEA, and General Atlantic. The company is developing cancer drugs using its AI platform called Foundry, which has access to about 200 petabytes of oncological data. Foundry uses AI agents to pinpoint the most promising drug molecules and identify patients who could benefit most from each therapy. The company's key priority is its JSKN016 program, which aims to develop a cancer therapy based on an antibody-drug conjugate. Pathos will also pay Tempus $55 million over five years to license anonymized data from patients with neurological conditions for analysis using Foundry.

Virginia governor signs directive to bolster cybersecurity against AI threats

Virginia Governor Abigail Spanberger signed an Executive Directive to bolster the state's cybersecurity and protect against AI-related threats. She instructed the Secretary of Public Safety and Homeland Security to develop a Commonwealth-wide plan to prevent and respond to cyberattacks and strengthen critical infrastructure resilience. The directive also establishes a Cyber Consortium to improve coordination with public safety leaders, emergency management personnel, state agencies, universities, and private sector partners. The action follows reports of AI models going beyond their instructions to access websites and hack government services, including an incident where Anthropic AI agents took unintended actions on Virginia government websites.

Virginia governor orders statewide plan for AI cyberattacks

Virginia Governor Abigail Spanberger directed state officials to develop a statewide cybersecurity plan and establish a Cyber Consortium of government, academic, and private-sector organizations to prepare for AI-related cyberattacks. The executive order directs the Secretary of Public Safety and Homeland Security to develop a plan to prevent and respond to cyberattacks while strengthening critical infrastructure resilience. The directive calls for regular briefings with AI companies, researchers, and regulators to identify emerging threats and develop cybersecurity strategies. Virginia will also work with higher education institutions and other states to assess preparedness for AI-related cyber risks, including recursive self-improvement, where AI systems could improve their own capabilities.

SOXL plunges 20% as oil prices and AI concerns hit semiconductor sector

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) fell nearly 20% on Thursday, hitting a six-month low. Surging oil prices, AI financing worries and a broad tech selloff drove the decline. The VanEck Semiconductor ETF fell about 5.8% and the iShares Semiconductor ETF dropped over 6.5%. Nvidia CEO Jensen Huang warned that access to working capital is becoming a bottleneck for AI computing providers.

Zoom pivots from video meetings to AI data platform at Zoomtopia

Zoom is repositioning itself as an AI data platform rather than just a video company. Its Unified Context Layer combines general knowledge, documented knowledge and live conversation data to build an updated graph of people, topics and decisions. The company is expanding into revenue operations with Zoom Revenue Accelerator and into hiring through BrightHire. Zoom is also extending its Deepfake Risk Detection feature to workplace meetings in December.

AI finds decade-old PHP flaw, taking government sites offline in UK, Finland and Netherlands

Britain's National Cyber Security Centre warned on October 21 that PHP, a widely used website scripting language, contains a serious vulnerability that lay dormant for over a decade. AI models from OpenAI and Google helped uncover the flaw. The UK Office for Budget Responsibility, Finland's government online services and the Dutch cyber security agency took their websites offline as a precaution. Gartner estimates the global AI security market will reach about $7.7 billion in 2028.

AI reshapes market data as retail investors access institutional intelligence

AI is changing how investors access and use market data, giving retail traders tools once available mainly to large institutions. Nasdaq's Brandon Tepper said clean and accurate data remains essential for good AI. Nasdaq operates 18 exchanges globally and is expanding its partnership with Robinhood to supply institutional-grade data and alternative datasets through Robinhood's Agents ecosystem. Tepper said the gap between retail and professional investors is narrowing quickly.

Goa makes AI learning compulsory for students from Class 6

Goa launched its Artificial Intelligence Policy 2026, proposing compulsory AI fundamentals for students in Classes 6 to 12 starting in the 2027-28 academic year. The state plans to set up AI laboratories in 50 government schools and train 500 teachers through IIT Goa and other institutions. Goa aims to certify 50,000 AI professionals by 2030, with women making up at least 25% of that target. The policy also includes doctoral fellowships and mandatory AI certification for government officers.

American Express cuts 3,500 jobs to prepare for AI

American Express is eliminating about 3,500 jobs, which is 5% of its global workforce. The company is taking a $336 million pretax restructuring charge. CEO Stephen Squeri said the company needs to become more agile to accelerate innovation. CFO Christophe Le Caillec said the cuts will reduce layers so the company can automate and take advantage of AI in the coming years. The restructuring was partly funded by selling a stake in Global Business Travel Group.

NYC schools face confusion over banned AI tools

Mayor Zohran Mamdani announced that NYC schools will fully discontinue or disable AI components in more than 38 previously allowed programs. The Education Department provided a list of flagged products that includes reading and math curriculums, student assessment tools, and a chatbot it developed itself. Several companies, like Wordly and HMH, said they were baffled because their products do not use generative AI. The Education Department said its restrictions apply to student-facing generative AI features and that it is working with companies on a case-by-case basis to determine if their tools can be used without those features.

Sources

• Pathos AI teams up with Bristol Myers and Tempus AI to advance drug development
• AI drug firm Pathos raises $237 million, pushing valuation to $3 billion
• AI drug development startup Pathos AI closes $237M investment
• Governor issues Executive Directive to bolster state’s cybersecurity, protect against AI
• Virginia governor orders statewide plan to address AI cyberattacks
• Nvidia's AI Warning, $111 Oil: Why SOXL Just Suffered a Brutal 20% Wipeout
• Zoom's next act: From video company to AI data platform
• Decade-Old PHP Flaw Found by AI; UK, Finland and Netherlands Government Sites Taken Offline as AI Security Market Set to Hit $7.7 Billion in Three Years
• AI Is Reshaping Market Data as Retail Investors Gain Access to Institutional Intelligence
• Goa Makes AI Learning Compulsory From Class 6
• American Express is cutting about 3,500 jobs to make room for AI
• NYC’s AI ban confusion: what’s allowed and what’s banned in city schools