Enterprise Tech News.

Anil Chakravarthy will become Adobe president and CEO on December 1, 2026, succeeding Shantanu Narayen, who moves to executive chair. Chakravarthy currently leads customer experience orchestration and workflow at Adobe, and the transition aims to turn AI advances into durable growth.

PatientIQ, a Chicago healthcare technology company, raised $30 million in Series C funding led by Hughes & Company, with Health Enterprise Partners and August Capital participating. The company will expand its real-world evidence platform and develop a direct-to-patient commerce experience. PatientIQ's network includes over 870 healthcare organizations.

Mogu IoT, a Guangzhou-based industrial AI company, closed its Series C C1 and C2 rounds, raising nearly 200 million yuan. Yunhui Capital led the round, with Yuanhe Origin participating. The funds will develop the Lingzhi AI model and physical AI agents for energy efficiency.

Morocco-based ZSystems secured $1.65 million in seed funding led by Azur Innovation Management, with participation from MNF Ventures, Witamax, and Harambeans Prosperity Fund. The B2B2C retail supply chain platform, founded in 2022, will use the capital to expand across Morocco and the region.

Catch emerged from stealth with $5 million in seed funding co-led by Entrée Capital and Pitango, with Seedcamp and Factorial Capital participating. Founded by CEO Nir Sabato and CTO Yoav Ramon, the startup builds autonomous AI agents for executive administration, integrating with Gmail, Slack, and Outlook.

Backbone, a Belgium-based software company, raised €4 million in pre-seed funding led by Pitchdrive. The AI-powered food quality and compliance platform will use the capital to accelerate product development and expand commercially into new markets.

ESDS Software Solution listed at ₹757 on the NSE, a 76.5% premium over its ₹429 IPO price, and at ₹746.30 on the BSE. The ₹720 Cr IPO was oversubscribed 135.88X, with ₹576 Cr earmarked for cloud infrastructure.

Upwind Security Inc. raised $300 million in Series C funding led by Bessemer and TCV, with Salesforce Ventures, Greylock, and Craft Ventures participating. The cloud security platform is now valued at $3.8 billion, up $2 billion since the start of the year.

GPT-6 Astra, OpenAI's first Stargate and lightly looped supermodel, launched today, beating Fable 5.1 on FrontierMath (97.6%) and ARC-AGI-3 (99.9%). Early testing burned over 20B tokens, confirming Astra can automate AI engineering tasks at 33 tokens per second for under $6 an hour.

Used Mellanox ConnectX-4 cards now sell for about $27, making 10 GbE affordable for home networks. Nvidia's WinOF-2 driver supports ConnectX-4 through ConnectX-6 on Windows 11, eliminating old driver headaches. A 10 GbE switch still costs $150 or more, and SFP+ cables may need replacement.

Madrona research shows 74% of 150 enterprise IT professionals plan to expand AI budgets, yet fewer than half of AI pilots reach production. 77% re-evaluate AI vendors every six months, making startup ARR less secure than traditional SaaS contracts.

Higher-speed data center networks are shifting fiber patch cord sourcing from standard SKUs to customized assemblies. IEEE 802.3df-2024 defines 400 Gb/s and 800 Gb/s Ethernet with an eight-lane architecture. Buyers now need MPO/MTP trunks, breakout assemblies, and pre-terminated options alongside traditional LC and SC cords.

Nvidia Corp. agreed to acquire Hugging Face Inc. for just over $12.93 billion. The platform hosts more than 500,000 datasets and four times as many models. Nvidia CEO Jensen Huang said Hugging Face will continue supporting AI projects across multiple chips and clouds.