Lovable, which serves half of Fortune 500 companies, has hosted more than 60 million projects to date.

AI-powered software development platform Lovable has raised $400 million in a Series C round at a $13.3 billion valuation. The round was led by Menlo Ventures, with Scaleup Europe Fund, managed by EQT, co-leading the round.

Expanding its global investor base, the company added Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the US among its investors. Existing investors including Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures also participated in the round.

Founded in November 2024 and based in Stockholm, Lovable allows users to describe, in everyday language, the app or website they want to build. The platform turns that description into a fully functional web application without requiring users to write a single line of code. Users can build the interface, database, login flow, and hosting all from a single chat window, and take the product directly to a live link.

The vibe-coding startup has hosted more than 60 million projects to date. Serving half of Fortune 500 companies, Lovable said apps built on its platform receive more than 900 million visits per month. According to user surveys, roughly 80 percent of users are building a business or side project aimed at generating income. Teams at established companies such as Adidas, NVIDIA, and Deutsche Telekom also use the platform to build software for their internal workflows.

Since its Series B round in December 2025, Lovable has developed payment infrastructure, a search engine, and tools that provide visibility in AI search. The company has also built deeper integrations with services such as Google Workspace, Microsoft 365, Salesforce, Stripe, and ElevenLabs, and obtained AIUC-1 certification, the first security standard for AI agents.

Lovable said it will direct the new funding toward product, infrastructure, and its team. The startup, which aims to grow its headcount to around 450, plans to direct the bulk of its hiring toward machine learning, product, infrastructure, and security. The company will keep its headquarters in Stockholm while taking new steps to grow its presence in London, Boston, San Francisco, and New York.

• The potential of quantum computers to eventually break encryption systems has once again brought crypto security to the forefront of discussion. Binance Chief Security Officer Jimmy Su emphasizes that while risks in this area do not pose an urgent threat today, preparation should not be delayed.
• Su assesses common misconceptions about quantum computers following a study published by Google Quantum AI researchers in March 2026, highlighting the industry’s roadmap toward post-quantum security.

Jimmy Su, Chief Security Officer at global crypto asset platform Binance, has shared a comprehensive assessment of the potential impact of quantum computers on crypto asset security. The statement addresses the five most commonly asked questions on the topic.

The assessment follows findings published by Google Quantum AI researchers in March 2026. The findings indicate that the amount of resources future quantum computers would need to break the public-key cryptography used in the Bitcoin and Ethereum networks could be up to roughly 20 times lower than previously estimated. Su emphasizes that while this study underscores the importance of early preparation, current quantum computers remain far from having the capacity to break the cryptography protecting major blockchain networks such as Bitcoin and Ethereum.

“Quantum computers could pose a genuine security risk in the long run, but there is no urgent threat to crypto assets today. What matters is being prepared before that picture changes,” said Binance Chief Security Officer Jimmy Su. The key points from his statement are as follows:

No direct near-term threat: Current quantum computers lack the scale, error-correction capacity, and reliability needed to break the cryptography protecting digital assets. A sufficiently advanced quantum computer could, in the future, derive private keys from public keys using Shor’s algorithm — but today’s machines remain far from that capability.

Why preparation should start now: Google Quantum AI’s findings show that previous estimates of the resources quantum computers would need to break cryptography could drop by up to roughly 20-fold. While current machines are not capable of carrying out such an attack, these kinds of revisions suggest the industry should not delay its transition preparations.

Today’s real security risks lie elsewhere: Su notes that the biggest risks facing crypto users today are not quantum computers, but phishing attacks, malware, social engineering attempts, compromised account credentials, and weak wallet security. Emphasizing that users should maintain established security practices, Su also warns that rushing toward products marketed as “quantum-resistant” could create additional risk.

The real challenge lies in the transition, not the technology: Post-quantum cryptography algorithms already exist. What’s needed is a coordinated, industry-wide transition across developers, miners, node operators, exchanges, custody providers, wallet developers, and millions of users — a process that also brings complex governance decisions for blockchain communities.

Ecosystem-wide collaboration is needed: Ecosystem participants like Binance are closely following developments in quantum computing, evaluating post-quantum security standards, and preparing their infrastructure to support the industry’s long-term transition. Su notes that this issue cannot be solved by a single company, and requires a coordinated effort across the entire ecosystem.

A call for long-term alignment in preparing for the post-quantum era

Su concluded his statement: “The reason we’re talking about quantum today isn’t because there’s an emergency. It’s because waiting until an emergency arises could mean it’s already too late. The crypto industry has evolved through major technological shifts before. I believe it will adapt to the post-quantum era with the same spirit of preparation and collaboration. Until then, staying informed and not neglecting fundamental security measures is of great importance.”

New York City Council Speaker Julie Menin has accused major prediction market startups of using predatory marketing practices ​to exploit young traders, according to a letter sent to Polymarket that ‌shows the council has opened an investigation into the allegations.

The letter from Menin to Polymarket CEO Shayne Coplan, dated August 11, also named other prediction market platforms, including Kalshi, Coinbase (COIN.O), opens new tab ​and Gemini Titan (GEMI.O), opens new tab, in connection with alleged marketing practices targeting young ​users. Prediction market startups such as Polymarket allow people to wager on ⁠event contracts across topics including politics, sports and entertainment. The sector has expanded ​rapidly in recent years, attracting a large base of traders.

Critics say the platforms ​are little more than gambling and could pose risks tied to insider trading and habit-forming behavior.

The letter, citing news reports, said Polymarket allegedly conspired with marketing agents and social media influencers ​to target young adults and potentially minors with false and deceptive advertising.

“We look ​forward to engaging with The New York City Council on this matter,” a spokesperson for ‌Polymarket ⁠said in a mailed statement to Reuters. The investigation by the New York City Council could become a defining test for Polymarket and other prediction market platforms as they defend their business model against state regulators challenging event contracts, including sports-related ​markets.

Polymarket is regulated by ​the U.S. Commodity ⁠Futures Trading Commission. Earlier this year, the CFTC sued New York, accusing the state of encroaching on federal authority by ​pursuing prediction-market companies under gambling laws.

According to the letter, Polymarket ​allegedly paid ⁠influencers without disclosure, produced videos showing fake trades on sites built to mimic its platform, presented losing bets as winners and encouraged insider trading.

The letter also asked ⁠Polymarket to ​answer questions about its use of social ​media, influencers and content creators in its marketing campaigns.

Anthropic has agreed to a USD 9 billion, 20-year cloud computing deal with Riot Platforms to expand its computing capacity. The deal forms part of Anthropic’s ongoing efforts to secure sufficient computing resources to meet growing demand from its customers.

Contract terms and capacity

According to Bloomberg, the agreement runs through June 2048 and is expected to generate USD 9.1 billion in revenue for Riot Platforms, the company said. It also includes an option to extend the contract twice, by five years each time, which could bring total sales to as much as USD 16.1 billion.

Neither company has confirmed the identity of the counterparty publicly. Riot Platforms declined to comment, and Anthropic did not respond to a request for comment.

The agreement adds to a series of computing deals Anthropic has signed with cloud infrastructure suppliers in recent months as it works to keep pace with demand for its Claude AI tools. Earlier deals include a USD 10 billion agreement with Volta Infra, a months-old infrastructure startup, and an agreement to purchase close to USD 45 billion worth of computing from xAI, signed in May 2026. Anthropic has also announced a separate agreement with Advanced Micro Devices to build computing infrastructure.

From Bitcoin mining to AI infrastructure

Riot Platforms, previously known as Bioptix and originally focused on diagnostic machinery for the biotech industry, shifted its business towards Bitcoin mining before its current move into cloud computing. The company is among several cryptocurrency mining firms now expanding into AI data centre capacity to meet rising demand for computing power.

Following news of the deal, Riot Platforms’ shares rose 25% to USD 24.40 in late trading on 10 August 2026. The company also reported second-quarter sales that beat expectations, partly attributed to its data centre business.