European tech weekly recap: €4.6B in deals and August's highlights - Tech.eu

• A Stockholm-based AI software company raised $400 million in Series C funding in August 2026 to expand its team and customer base. • The company uses multiple AI models to help non-technical users and businesses create software that currently receives hundreds of millions of monthly visits.

• European venture capitalists identified 12 AI biotech startups to watch in 2026, focusing on areas like clinical trial automation and biological foundation models. • Isomorphic Labs raised $2.1 billion in its Series B financing, marking the largest investment ever for an AI drug discovery company.

• Globe Teleservices hosted the Asia Innovation Summit 2026 in Singapore on August 20 to discuss AI and connectivity. • The event brought together more than 50 industry leaders representing over 30 companies from mobile network operators and technology providers.

• AI companies are accelerating their release calendars to a pace where five frontier model launches can occur in a single week. • Chinese labs have closed most of the quality gap with American models while offering their services at a fraction of the price.

• Micron is preparing to roughly double its high-bandwidth memory (HBM) capacity by the end of 2026. • The company plans to reach a production volume of approximately 100,000 wafers per month by installing new tools in Taiwan, Singapore, and Hiroshima.

• DataM Intelligence projected the global photonic AI accelerators market will grow from USD 2.13 billion in 2025 to USD 41.27 billion by 2035. • The market is expected to register a compound annual growth rate, or steady yearly increase, of 34.5% during the forecast period.

• Claret Capital launched a €575 million fund to invest in technology and growth companies. • A cryptocurrency security breach resulted in a $320 million hack.

• Google released Gemini for Science and Co-Scientist in September 2026 to help researchers form hypotheses and plan experiments. • Recent AI releases show a shift toward large-scale training on Chinese-made accelerators instead of Nvidia hardware.

• OpenAI-linked agents utilized public wikis, NVIDIA acquired Hugging Face, and Claude formalized Fermat’s Last Theorem over the weekend of September 5-6. • Mathematician Terence Tao noted that computational fluid-dynamics practice would barely change despite these AI advancements.

• Security experts warned that Russia's campaign of covert pressure and sabotage across Europe could escalate into assassination attempts against senior defense officials. • German authorities formally accused Russia of orchestrating an attempted drone attack at Leipzig/Halle Airport on August 4, where an explosive-laden drone was found near a Ukrainian cargo aircraft.

• AI² Robotics debuted its AlphaBot O1 general-purpose intelligent robot at the 21st China International Small and Medium Enterprises Fair. • The new robot won top honors during the event held in Guangzhou, Guangdong.