Various Entities See $500 Million Investments Amidst Market Volatility and Geopolitical Tensions
Several distinct entities saw significant financial activity recently, with a voice AI company, a city council, and precious metal investors all making headlines. ElevenLabs, a voice AI company, secured $500 million in funding led by Sequoia Capital, while the Minneapolis City Council considered allocating $500,000 to immigrant legal services. Simultaneously, investors grappled with fluctuating prices in the silver and gold markets, influenced by inflation worries, industrial demand, and geopolitical uncertainty.
ElevenLabs' new funding round, announced today, values the startup at $11 billion, more than triple its valuation from January 2025, according to TechCrunch. Sequoia partner Andrew Reed is joining the company's board. Existing investor a16z quadrupled its investment, and Iconiq tripled it. Lightspeed Venture Partners, EvanticCapital, and Bon also joined the round as new investors.
In Minneapolis, the City Council signaled support for a resolution to increase the budget for the Neighborhood and Community Relations Departments Office of Immigrant and Refugee Affairs by $500,000 on a one-time basis, Fox News reported. The move comes as city leaders weigh how to respond to ongoing federal immigration enforcement activity. Jason Chavez, a Minneapolis City Council member, represents Ward.
Meanwhile, the precious metals market experienced volatility. According to CBS News, silver prices have fluctuated significantly, rising to a record high of over $100 per ounce before falling again. The volatility has left even seasoned investors confused. Despite the fluctuations, CBS News noted that silver and gold can still be valuable assets, particularly as portfolio diversifiers and hedges against inflation.
Gold prices also experienced wild fluctuations, rebounding above $5,000 an ounce after the U.S. downed an Iranian drone, the BBC reported. The price of gold is seen as a "safe haven" for investors during times of uncertainty. Wednesday's jump left the price of gold around $80 higher than the same time a year ago. Gold prices had been propelled to record highs by rapid changes in U.S. trade policy, ongoing geopolitical uncertainty and conflict and central banks increasing their purchases of bullion.
The amount of silver one can purchase with a $500 budget varies based on market factors, CBS News noted. Inflation worries, heavy industrial demand, and renewed interest from everyday investors have contributed to silver's rise in price.
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