Elroy Fernandes

Elroy is a digital marketer and developer from Goa, with over a decade of experience web development and marketing. He has been associated with several startups and serves currently as an Editor to the Asia Pacific Industrial magazine. He occasionally writes on Startup Fortune about technology and automation.

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Elroy Fernandes · Jul 23, 2026 · 2:41 PM

BitMEX is shutting down on September 23 and users who don't act face punishing fees

BitMEX, the exchange that invented the crypto perpetual swap, is shutting down permanently on September 23, 2026. Users face forced liquidations and punishing monthly fees if they don't withdraw before the deadline. Here's exactly what you need to do.

Elroy Fernandes · Jul 23, 2026 · 12:00 PM

ServiceNow bets $40 million on an Indian AI banking startup to lock down enterprise agent governance

ServiceNow Ventures has taken a 5% stake in BusinessNext, an Indian AI banking software company, at a $700 million valuation. The $40 million deal is as much a distribution partnership as an investment, tying BusinessNext's AI agents into ServiceNow's AI Control Tower governance platform as the race to monitor and control enterprise agents intensifies.

Elroy Fernandes · Jul 23, 2026 · 10:07 AM

Texas Instruments beat every estimate and its stock still fell, which tells you where AI money is actually flowing

Elroy Fernandes · Jul 23, 2026 · 7:36 AM

Khosla Ventures is in talks to raise $5.5 billion as Vinod Khosla doubles down on AI

Bloomberg reports Khosla Ventures is in talks to raise $5.5 billion across new funds, up sharply from the $3.5 billion it targeted in early 2025. The raise signals that the most AI-committed venture firms are doubling down while LP patience thins elsewhere. For founders raising in the next 12-18 months, the implications are significant.

Elroy Fernandes · Jul 23, 2026 · 4:54 AM

Amazon fires its AGI researchers and bets a billion dollars on deployment instead

Amazon confirmed layoffs in its AGI organization on July 22, 2026, cutting teams behind its Nova foundation models while launching a $1 billion program to embed AWS engineers inside enterprise customers. The move reveals a clear strategic bet: deployment beats research in the AI money race.

Elroy Fernandes · Jul 23, 2026 · 2:14 AM

Tesla delivered a record 480,000 cars in Q2 2026 and still watched profits collapse

Tesla posted record Q2 2026 deliveries of 480,126 vehicles, up 25% year-over-year, yet revenue fell 12% to $22.5 billion and operating income collapsed 42% to $0.9 billion. The price cuts that cleared inventory are now squeezing the cash flow Tesla needs to fund Optimus, Cybercab, and its robotaxi ambitions. The bull case depends on the car business financing the AI future, and that math is getting harder to defend.

Elroy Fernandes · Jul 22, 2026 · 11:36 PM

OpenAI raises its compute bet to $750 billion but its own CFO isn't sure it can pay the bill

OpenAI has raised its compute spending target through 2030 to $750 billion, encompassing deals with Microsoft, Oracle, AWS, and CoreWeave plus its own $20 billion Project Camellia data center in Georgia. But CFO Sarah Friar has privately warned leadership the company may not be able to honor those contracts if revenue growth doesn't accelerate. With a $25 billion annualized run rate and deeply negative margins, the gap between commitments and cash flows is the real story behind the headline figu

Elroy Fernandes · Jul 22, 2026 · 8:58 PM

Abu Dhabi just gave tokenized gold the regulatory stamp it needed to go mainstream

Abu Dhabi Global Market classified Tether Gold (XAUT) as an Accepted Spot Commodity on July 20, 2026, letting licensed firms offer the gold-backed token to clients. With XAUT's locked value tripling to nearly $2.86 billion, the move signals that tokenized physical gold is graduating from crypto curiosity to regulated institutional infrastructure.

Elroy Fernandes · Jul 22, 2026 · 4:24 PM

Synthesia turns its AI avatars into performance coaches with Roleplay Sessions

Synthesia launched Roleplay Sessions on July 22, putting employees in live, scored AI avatar conversations for sales, performance, and customer complaint scenarios. The product is the first under a new Sessions platform the company plans to extend into hiring, and marks a deliberate pivot from content creation toward measurable behavior change in the $360 billion corporate training market.

Elroy Fernandes · Jul 22, 2026 · 1:44 PM

Four Rapyd executives who scaled payments past $1 billion just raised $8 million to fix the chaos they lived through

Cordant emerged from stealth on July 21, 2026 with $8 million in seed funding to build a unified monitoring and reconciliation layer for fragmented payment infrastructure. The company was founded by four former Rapyd executives who helped scale that fintech unicorn past $1 billion in revenue, and it counts Bitso and Paxos among its design partners. The round was co-led by Motive Partners and Oak HC/FT.

Elroy Fernandes · Jul 22, 2026 · 10:57 AM

Samsung is in talks to take an equity stake in Mistral AI as the French startup seeks €3 billion at a €20 billion valuation

Samsung Electronics is in active talks to take an equity stake in Mistral AI as part of the French startup's €3 billion fundraising round targeting a €20 billion valuation. The move would shift Samsung from chip supplier to strategic investor, coming days after Microsoft announced a separate multibillion-dollar infrastructure deal with Mistral.

Elroy Fernandes · Jul 22, 2026 · 8:25 AM

Claude Fable 5 helped crack the Jacobian Conjecture after 87 years of failure

Anthropic researcher Levent Alpöge used Claude Fable 5 to produce a three-dimensional polynomial counterexample to the Jacobian Conjecture, an unsolved problem since 1939. The 216-character result has been independently verified by multiple mathematicians, though formal peer review is still pending.

Elroy Fernandes · Jul 22, 2026 · 6:28 AM

TradFi is now the engine driving Lido's LDO rally not crypto exchanges

Lido DAO's LDO token surged roughly 25% this week after Interactive Brokers listed it for trading and Anchorage Digital, the only federally chartered US crypto bank, integrated wstETH minting into regulated custody. The moves signal TradFi infrastructure is now directly driving DeFi price action.

Elroy Fernandes · Jul 21, 2026 · 7:48 PM

SentinelOne Founders Raise $100 Million to Secure AI Agents Inside the Enterprise

Neo emerged from stealth on July 20, 2026, with $100 million in funding, including a $75 million Series A led by Andreessen Horowitz and Bessemer Venture Partners. Founded by former SentinelOne executives Nick Warner and Shlomi Salem alongside Eran Shirazi, the startup is building a security layer to track and control AI agents operating inside enterprise software under real employee credentials.

Elroy Fernandes · Jul 21, 2026 · 3:22 PM

Natural raised $30 million to give AI agents their own bank accounts

Natural, a payments startup founded in 2025, raised a $30 million Series A led by Forerunner Ventures just 193 days after starting, pushing its total funding past $40 million. The company launched six products, including FDIC-insured Wallets for AI agents, positioning itself as a direct challenger to Stripe.

Elroy Fernandes · Jul 21, 2026 · 10:34 AM

Cursor's AI Agents Rebuilt SQLite From Scratch and Passed Every Test

A swarm of AI agents at Cursor rewrote SQLite in Rust using only its 835 page manual, with no source code, no tests, and no internet access, then passed every held out test. The company found that model mix changed the total cost by 15 times, from $1,339 to $10,565 for the same result. The experiment lands weeks after Cursor parent Anysphere's reported $60 billion acquisition by SpaceX.