📰 The InformationThe InformationQwen · 实盘不做把握 3/10不做原因:风险收益比不佳
北京时间·🕒 发布 08-26 22:00:31时区推断·⟳ 抓取 08-26 22:16:53·⚡ 决策 08-27 01:55:26 +3h38m·62.0 天前
The Information AI Agenda 周报：Navitas Semiconductor 拟以最高2.328亿美元收购数据中心能源优化公司 Claros
本期为 The Information AI Agenda 周报汇总，唯一可交易公开公司项为 NVTS 作为买方收购 Claros。买方侧并购短期通常不产生正向 surprise（市场仅反应 +1%），且我们历史在 NVTS 上胜率极低（17%）。其余项均为私募融资或微盘股，无可执行 edge。
📄 原文The Information↗ 原文
How Companies Are Using Old-School Software to Grade AI Agents
When companies started adopting agents, evaluators would often use an AI judge to monitor, for example, whether the age…
不做 Navitas Semiconductor（NVTS.US）
NVTS 为收购方，$232.8M 仅占市值 7%，买方并购短期无正向 surprise（市场仅+1%确认）；公司历史胜率极低（17%）；股价处于深跌后反弹阶段，无明确做多 edge
不做 Algorhythm Holdings（RIME.US）
微盘股寻求出售子公司，流动性不足，事件方向不明，无法形成可执行交易
不做 ZenaTech（ZENA.US）
收购金额未披露、公司规模极小，无交易价值
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
The Information AI Agenda 为周报汇总而非突发新闻。核心可交易项：NVTS（市值$3.28B）以最高$2.328M 收购数据中心能源优化公司 Claros，占市值约 7%。作为收购方，NVTS 短期股价反应温和（+1.09%），符合买方并购典型模式。公司在深度下跌后（52周高点$34.17→现价$12.57）虽有20日反弹29%，但路径仍为下行通道尾部。我们历史 6 笔 ENTER 仅 1 笔盈利（胜率 17%，中位 -2.14%）。综合判断：无正期望交易机会。
🔎 新鲜度:最早出现 2026-08-26 · 扩散 low · price-in 风险 low ↗
消息传播链
- The Information 付费周报首发，包含 NVTS 收购、多笔融资、SpaceX 建站等汇总信息市场反应:NVTS 当日 +1.09%，无明显异动
主要风险
- NVTS 为亏损公司（PE 为 null），$232.8M 收购若含大量股份对价将稀释现有股东
反向证据
- 做多前查反向 · 来源 kb_search · 影响 none
内部 KB 检索降级（全部数据源报错），未命中相关研报或纪要
检索:NVTS acquisition Claros strategic rationale dilution
先例如何影响了这次决策
对本次决策的影响:Web 搜索不可用，无法检索历史先例进行 event_study；不影响最终 AVOID 结论，因为买方并购本身缺乏短期做多逻辑
方向:无法建立先例面板
涨幅量级:无
形态:无
工具调用 · 历史记录,结果未知(7 种)
- fetch_decision_experience · 结果未知
- search_processed_events · 结果未知
- stock_quote · 结果未知
- web_search · 结果未知
- kb_search · 结果未知
- search_case_library · 结果未知
- normalize_ticker · 结果未知
原文全文
展开原文 · 10,875 字
When companies started adopting agents, evaluators would often use an AI judge to monitor, for example, whether the agent correctly cited its sources or kept its answer below a certain word count. But that requires paying to run a second AI model. Software code is cheaper to use.
The move toward traditional software for certain evaluation work might seem counterintuitive at a time when AI is supplanting so much of traditional software, but it also reflects enterprises’ growing familiarity with the limitations of AI models, such as their high costs and unreliability. For example, my colleagues reported late last year that Salesforce was [deprioritizing large language models in Agentforce](https://www.theinformation.com/articles/salesforce-executives-say-trust-generative-ai-declined), in favor of traditional software automation that followed if-then rules.
AI judges remain an effective approach when the criteria for determining success are “squishy,” Kenstler said. In such cases, to provide a grade, a judge scores an agent’s outputs against a grading rubric. For example, if an agent is told “I want you to write a report on the Revolutionary War,” the rubric might include criteria like “the report mentions that George Washington was the general of the Continental Army,” Kentsler said.
Programmatic verifiers can evaluate performance on more black-and-white criteria, such as whether an agent has solved a math problem, correctly formatted a spreadsheet or included a specific phrase in its output. An enterprise that is evaluating how well an agent can work with a CRM database could use a programmatic verifier to check whether the database has been updated, without relying on another AI to serve as a judge.
Increasing use of these programmatic verifiers “is bringing a greater level of rigor and outcome-orientation to the way that enterprises are doing evals,” said Kentsler. Because they’re cheaper, programmatic verifiers allow enterprises to more thoroughly evaluate their agents’ actions, potentially catching more errors and better understanding the pros and cons of different agents.
While Kentsler is primarily focused on evaluations, which measure the performance of an AI model after it has been trained, both of these techniques can also be used to improve AI agents during reinforcement learning.
So are programmatic verifiers going to put AIs out of their jobs as judges? Not quite. “The best evaluations combine both,” Kentsler said. For example, if an AI agent was tasked with producing a regulatory filing, it might have to follow a standardized format, which can be checked programmatically, as well as include the right details and adhere to a company’s guidelines about how information is presented, which are better suited for AI.
In fact, for some tasks the trend has gone the opposite direction: from relying on programmatic verifiers to increasingly drawing on AI judges.
“Coding agents is a great example of a use case that starts with programmatic and is now trending rubric,” Kenstler said. For example, older coding benchmarks such as the popular SWE-Bench use automatic tests to check whether an AI wrote successful code. But measuring whether the AI followed good style requires bringing in an AI judge.
To be sure, evaluating agents will continue to be a challenge for the foreseeable future, but using all the available tools will help enterprises select the best AI models for a given task and maybe even help catch naughty agents trying to hack into other companies.
*Here’s what else is going on…*
### Deals and Debuts
*See The Information’s [Generative AI Database](https://www.theinformation.com/projects/generative-ai) for an exclusive list of private companies and their investors.*
**Navitas Semiconductor**, which makes power chips that convert and deliver electricity efficiently inside AI data centers, agreed to acquire **Claros**, a company that optimizes energy delivery for data centers for up to $232.8 million.
**Gatik**, which develops self-driving box trucks that run short, repeated freight routes between warehouses and stores, raised **$200 million** in a Series D funding round led by **Qatar Investment Authority** and **Koch Disruptive Technologies.**
**Emerald AI**, a company whose software lets AI data centers dial their electricity use up and down on demand, so they can connect to the power grid faster and ease off when the grid is strained, raised $150 million in a Series A funding round led by **Energize Capital**and **DCVC**.
**Alice**, a company that tests AI models for ways they can be tricked into harmful behavior and puts guardrails around the AI that companies deploy, raised $140 million in a funding round led by **Apax Digital.**
**Stability AI**, which makes AI tools that generate images, audio and video for professional creative teams, raised **$76 million** in a Series B funding round with participation from Electronic Arts, **Sony Music Group**, **Universal Music Group**, **Warner Music Group**.
**Happy Health**, a company whose FDA-cleared smart ring and software diagnose and manage sleep disorders at home, raised **$75 million** in a Series A funding round led by **ARCH Venture Partners** and **OpenLoop**.
**Airbound**, a company that designs small autonomous cargo drones aiming to make drone delivery cheaper than trucking, raised $37 million in a Series A funding round led by **Greenoaks**.
**Liner**, a company whose AI research tool answers questions with citations attached so users can check the sources, raised $36.1 million in a Series C funding round led by **LB Investment.**
**Celera Semiconductor**, a company that uses AI to design analog chips, cutting the cost and time it normally takes, raised $30 million in a Series B funding round funded entirely by **Maverick Silicon**, already its largest investor.
**Keenable**, a company that is developing a web search index designed for AI systems rather than people, raised $26 million in a seed funding round led by **Accel**.
**Hike Medical**, a company whose software carries a medical device order all the way from a doctor's referral to the finished product, raised $22.5 million in seed and Series A funding led by **Max Altman**at **Saga Ventures.**
**Newcode**, a company whose software lets a law firm develop and run its own AI system on top of its existing case files and databases, raised $13.5 million in a Series A funding round led by **OnDean Forward**.
**Primero**, a company that helps Latin America's largest corporations replace software dating from the 1990s and automate the work those systems handle, raised $12 million in a seed funding round led by **Kaszek** and **General Catalyst.**
**amber**, a company whose software gathers business documents and records into one searchable base that its AI can interact with, raised €7 million in a Series A funding round led by **Ventech** and **NRW.Venture.**
**Capital Numbers**, a company whose engineers build software, cloud systems and AI tools for clients, completed the acquisition of all of **Epitome Cloud**, a firm that customizes Salesforce and related contract and pricing software for large companies, $4–5 million.
**WellStack**, which builds software that pulls a hospital system's scattered patient and operational data into one place so it can be analyzed, acquired **DeLorean AI**, which builds AI that predicts which patients are likely to get sicker. Terms were not disclosed.
**Accenture** agreed to acquire **McCoy**, a consulting firm whose staff install and run SAP business software, for mid-sized companies. Terms were not disclosed.
**ZenaTech**, a company that sells drone flights as a service and also sells business software, completed the acquisition of **ESM Software**, a company whose software helps organizations set goals and prove they meet cybersecurity rules. Terms were not disclosed.
**Algorhythm Holdings** said it is pursuing a sale, spin-off or other options for **SemiCab**, its unit that runs cloud software using AI to match freight loads to trucks so fewer trucks drive around empty. No buyer was named and no price was disclosed.
**SpaceX** [announced on Tuesday](https://www.theinformation.com/briefings/spacex-announces-100-billion-starship-launch-site-louisiana) plans to build a $100 billion launch site for its Starship rocket on the coast of Louisiana.
**LayerZero**, a blockchain infrastructure startup that counts **Citadel** **Securities**, **DTCC**, and **Intercontinental** **Exchange** among its partners, [said it’s launching a new blockchain-based exchange](https://www.theinformation.com/briefings/citadel-securities-dtcc-partner-layerzero-launches-new-exchange) targeting financial institutions this fall.
**Skild AI**, which develops foundation models for robotics, announced **S1**, a new AI model that it said can learn to perform new physical tasks after being “prompted” with a single video demonstration.
**Lightwheel AI**, which provides simulation software for robotics, and **Hugging Face** released a data set containing 100,000 hours of first-person videos of people using their hands to complete tasks at home and at work.
## What We’re Reading
#### [A.I. Is Becoming So Powerful, It’s Stumping Those Trying to Contain It](https://www.nytimes.com/2026/08/25/technology/irregular-ai-test-hacks.html)
#### [They Dedicated Their Lives to Teaching. Then the Deepfakes Started](https://www.wired.com/story/teachers-deepfake-ai-students-content/)
#### [Why Social Media Giants Are on Trial For Hooking Kids](https://www.bloomberg.com/news/articles/2026-08-23/meta-trial-how-social-media-lawsuits-threaten-big-tech?srnd=phx-technology)
### Upcoming Events
#### [Wednesday, September 23 — AI Agenda Live SF 2026](https://www.theinformation.com/events/ai-agenda-live-2026)
Join us to explore the real-world shifts, new architectures, and enterprise strategies defining the next era of AI. Secure your spot today to hear directly from top minds at Google DeepMind, OpenAI, Atlassian, and more.
[More details](https://www.theinformation.com/events/ai-agenda-live-2026)
#### [Tuesday, October 27 — The Information’s 2026 WTF Summit](https://www.theinformation.com/events/wtf-summit-2026)
Tickets on sale now: The Information returns to Napa Valley October 27–28 to convene senior women across tech, media, and finance. Join us for two days of intimate, candid conversations with the leaders navigating today’s global shifts.
[More details](https://www.theinformation.com/events/wtf-summit-2026)
*Thank you for reading the AI Agenda Newsletter! I’d love your feedback, ideas and tips: [stephanie@theinformation.com](mailto:stephanie@theinformation.com).*
*If you think someone else might enjoy this newsletter, please pass it forward or they can sign up [here](https://www.theinformation.com/newsletters/ai-agenda).*
The move toward traditional software for certain evaluation work might seem counterintuitive at a time when AI is supplanting so much of traditional software, but it also reflects enterprises’ growing familiarity with the limitations of AI models, such as their high costs and unreliability. For example, my colleagues reported late last year that Salesforce was [deprioritizing large language models in Agentforce](https://www.theinformation.com/articles/salesforce-executives-say-trust-generative-ai-declined), in favor of traditional software automation that followed if-then rules.
AI judges remain an effective approach when the criteria for determining success are “squishy,” Kenstler said. In such cases, to provide a grade, a judge scores an agent’s outputs against a grading rubric. For example, if an agent is told “I want you to write a report on the Revolutionary War,” the rubric might include criteria like “the report mentions that George Washington was the general of the Continental Army,” Kentsler said.
Programmatic verifiers can evaluate performance on more black-and-white criteria, such as whether an agent has solved a math problem, correctly formatted a spreadsheet or included a specific phrase in its output. An enterprise that is evaluating how well an agent can work with a CRM database could use a programmatic verifier to check whether the database has been updated, without relying on another AI to serve as a judge.
Increasing use of these programmatic verifiers “is bringing a greater level of rigor and outcome-orientation to the way that enterprises are doing evals,” said Kentsler. Because they’re cheaper, programmatic verifiers allow enterprises to more thoroughly evaluate their agents’ actions, potentially catching more errors and better understanding the pros and cons of different agents.
While Kentsler is primarily focused on evaluations, which measure the performance of an AI model after it has been trained, both of these techniques can also be used to improve AI agents during reinforcement learning.
So are programmatic verifiers going to put AIs out of their jobs as judges? Not quite. “The best evaluations combine both,” Kentsler said. For example, if an AI agent was tasked with producing a regulatory filing, it might have to follow a standardized format, which can be checked programmatically, as well as include the right details and adhere to a company’s guidelines about how information is presented, which are better suited for AI.
In fact, for some tasks the trend has gone the opposite direction: from relying on programmatic verifiers to increasingly drawing on AI judges.
“Coding agents is a great example of a use case that starts with programmatic and is now trending rubric,” Kenstler said. For example, older coding benchmarks such as the popular SWE-Bench use automatic tests to check whether an AI wrote successful code. But measuring whether the AI followed good style requires bringing in an AI judge.
To be sure, evaluating agents will continue to be a challenge for the foreseeable future, but using all the available tools will help enterprises select the best AI models for a given task and maybe even help catch naughty agents trying to hack into other companies.
*Here’s what else is going on…*
### Deals and Debuts
*See The Information’s [Generative AI Database](https://www.theinformation.com/projects/generative-ai) for an exclusive list of private companies and their investors.*
**Navitas Semiconductor**, which makes power chips that convert and deliver electricity efficiently inside AI data centers, agreed to acquire **Claros**, a company that optimizes energy delivery for data centers for up to $232.8 million.
**Gatik**, which develops self-driving box trucks that run short, repeated freight routes between warehouses and stores, raised **$200 million** in a Series D funding round led by **Qatar Investment Authority** and **Koch Disruptive Technologies.**
**Emerald AI**, a company whose software lets AI data centers dial their electricity use up and down on demand, so they can connect to the power grid faster and ease off when the grid is strained, raised $150 million in a Series A funding round led by **Energize Capital**and **DCVC**.
**Alice**, a company that tests AI models for ways they can be tricked into harmful behavior and puts guardrails around the AI that companies deploy, raised $140 million in a funding round led by **Apax Digital.**
**Stability AI**, which makes AI tools that generate images, audio and video for professional creative teams, raised **$76 million** in a Series B funding round with participation from Electronic Arts, **Sony Music Group**, **Universal Music Group**, **Warner Music Group**.
**Happy Health**, a company whose FDA-cleared smart ring and software diagnose and manage sleep disorders at home, raised **$75 million** in a Series A funding round led by **ARCH Venture Partners** and **OpenLoop**.
**Airbound**, a company that designs small autonomous cargo drones aiming to make drone delivery cheaper than trucking, raised $37 million in a Series A funding round led by **Greenoaks**.
**Liner**, a company whose AI research tool answers questions with citations attached so users can check the sources, raised $36.1 million in a Series C funding round led by **LB Investment.**
**Celera Semiconductor**, a company that uses AI to design analog chips, cutting the cost and time it normally takes, raised $30 million in a Series B funding round funded entirely by **Maverick Silicon**, already its largest investor.
**Keenable**, a company that is developing a web search index designed for AI systems rather than people, raised $26 million in a seed funding round led by **Accel**.
**Hike Medical**, a company whose software carries a medical device order all the way from a doctor's referral to the finished product, raised $22.5 million in seed and Series A funding led by **Max Altman**at **Saga Ventures.**
**Newcode**, a company whose software lets a law firm develop and run its own AI system on top of its existing case files and databases, raised $13.5 million in a Series A funding round led by **OnDean Forward**.
**Primero**, a company that helps Latin America's largest corporations replace software dating from the 1990s and automate the work those systems handle, raised $12 million in a seed funding round led by **Kaszek** and **General Catalyst.**
**amber**, a company whose software gathers business documents and records into one searchable base that its AI can interact with, raised €7 million in a Series A funding round led by **Ventech** and **NRW.Venture.**
**Capital Numbers**, a company whose engineers build software, cloud systems and AI tools for clients, completed the acquisition of all of **Epitome Cloud**, a firm that customizes Salesforce and related contract and pricing software for large companies, $4–5 million.
**WellStack**, which builds software that pulls a hospital system's scattered patient and operational data into one place so it can be analyzed, acquired **DeLorean AI**, which builds AI that predicts which patients are likely to get sicker. Terms were not disclosed.
**Accenture** agreed to acquire **McCoy**, a consulting firm whose staff install and run SAP business software, for mid-sized companies. Terms were not disclosed.
**ZenaTech**, a company that sells drone flights as a service and also sells business software, completed the acquisition of **ESM Software**, a company whose software helps organizations set goals and prove they meet cybersecurity rules. Terms were not disclosed.
**Algorhythm Holdings** said it is pursuing a sale, spin-off or other options for **SemiCab**, its unit that runs cloud software using AI to match freight loads to trucks so fewer trucks drive around empty. No buyer was named and no price was disclosed.
**SpaceX** [announced on Tuesday](https://www.theinformation.com/briefings/spacex-announces-100-billion-starship-launch-site-louisiana) plans to build a $100 billion launch site for its Starship rocket on the coast of Louisiana.
**LayerZero**, a blockchain infrastructure startup that counts **Citadel** **Securities**, **DTCC**, and **Intercontinental** **Exchange** among its partners, [said it’s launching a new blockchain-based exchange](https://www.theinformation.com/briefings/citadel-securities-dtcc-partner-layerzero-launches-new-exchange) targeting financial institutions this fall.
**Skild AI**, which develops foundation models for robotics, announced **S1**, a new AI model that it said can learn to perform new physical tasks after being “prompted” with a single video demonstration.
**Lightwheel AI**, which provides simulation software for robotics, and **Hugging Face** released a data set containing 100,000 hours of first-person videos of people using their hands to complete tasks at home and at work.
## What We’re Reading
#### [A.I. Is Becoming So Powerful, It’s Stumping Those Trying to Contain It](https://www.nytimes.com/2026/08/25/technology/irregular-ai-test-hacks.html)
#### [They Dedicated Their Lives to Teaching. Then the Deepfakes Started](https://www.wired.com/story/teachers-deepfake-ai-students-content/)
#### [Why Social Media Giants Are on Trial For Hooking Kids](https://www.bloomberg.com/news/articles/2026-08-23/meta-trial-how-social-media-lawsuits-threaten-big-tech?srnd=phx-technology)
### Upcoming Events
#### [Wednesday, September 23 — AI Agenda Live SF 2026](https://www.theinformation.com/events/ai-agenda-live-2026)
Join us to explore the real-world shifts, new architectures, and enterprise strategies defining the next era of AI. Secure your spot today to hear directly from top minds at Google DeepMind, OpenAI, Atlassian, and more.
[More details](https://www.theinformation.com/events/ai-agenda-live-2026)
#### [Tuesday, October 27 — The Information’s 2026 WTF Summit](https://www.theinformation.com/events/wtf-summit-2026)
Tickets on sale now: The Information returns to Napa Valley October 27–28 to convene senior women across tech, media, and finance. Join us for two days of intimate, candid conversations with the leaders navigating today’s global shifts.
[More details](https://www.theinformation.com/events/wtf-summit-2026)
*Thank you for reading the AI Agenda Newsletter! I’d love your feedback, ideas and tips: [stephanie@theinformation.com](mailto:stephanie@theinformation.com).*
*If you think someone else might enjoy this newsletter, please pass it forward or they can sign up [here](https://www.theinformation.com/newsletters/ai-agenda).*
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