*as of 11/9; Sources: S&P, BTC, FTSE, DJRE, GOLD

There were a number of major fundraises for prominent AI startups in the last week, led by OpenAI’s reported $11 billion round at a $1.25 trillion valuation, and with an additional $9 billion potentially on the way. Former OpenAI CTO Mira Murati’s company Thinking Machines is closing its own $5 billion round at a $40 billion valuation, more than triple its valuation from last July. AI drug discovery startup Isomorphic Labs is also raising $5 billion at a $50 billion valuation, more than double its valuation from May. The AI inference startup Fal raised $1.3 billion at a $16 billion valuation, double its value from April.

➨ TAKEAWAY: Despite recent concerns that caused AI-related public market stocks to plummet last week, venture capital is still clearly bullish on the sector. VC funding to the AI sector topped $500 billion through the first three quarters of the year, and it is showing no signs of slowing down. Valuations have skyrocketed in the past year, with nearly every company raising money seeing their value at least double. However, OpenAI raised at a lower valuation than expected, and Anthropic’s IPO valuation might also end up dropping from initial forecasts, so there may be some hesitation from investors at the high end.

🚀 Wonder Group IPO: The food hall and delivery startup founded by Marc Lore filed for a public offering, months after raising a $650 million round at a $9 billion valuation. The company owns delivery service Grubhub and meal-kit company Blue Apron among others, and has been aggressively expanding throughout the country.

🪙 Crypto in retirement accounts: The Trump administration moved another step closer to allowing alternative assets including cryptocurrencies into 401(k) retirement accounts. The Department of Labor filed a proposal with an office in the White House that would give retirement plan managers clearer guidelines and legal protections when evaluating alternative investments.

🏢 Office investment sales rise: Multitenant office investment sales hit $22.7 billion in Q3, up 31.8% quarterly and 27% year-over-year. However, the average cap rate rose 9 basis points to 7.58%, indicating that buyers are still demanding higher yields and lower prices.

🏡 Pending sales plummet: Zillow’s latest market report showed existing home sales dropping by 8.7% year-over-year, with that fall likely to continue as pending home sales are down 16.8% year-over-year, meaning that sales activity is slowing down significantly.

🎨 Found O’Keeffe painting: A Georgia O’Keeffe painting that was recently found in a closet is being auctioned at Christie’s major evening sale in New York next week and carries a high estimate of $3 million.

⌚ Geneva watch record: Phillips’ sale in Geneva became the first ever live watch auction to generate more than $100 million in sales, bringing in $112.3 million, led by a F.P. Journe that went for more than $10 million.

A established and successful seasonal seafood restaurant on an island outside Portland, ME, is up for sale for $1.25 million. Located on Great Diamond Island, a 20-25 ferry ride from Portland, Crown Jewel has been open since 2018 and been featured in The Wall Street Journal, Boston Globe, Architectural Digest, Condé Nast Traveler, and more. Of course, any interested buyers would need to know about the restaurant’s finances and history, but judging from the online reviews and the owner’s Instagram post, it seems to have been pretty successful. The property comes with all of the restaurant’s equipment, meaning a buyer can continue the same business or decide to try a new concept.