Eric Wu cofounded Opendoor in 2014 to automate purchasing homes with cash. Now, he’s targeting a different side of the real estate equation: construction.
His new startup, NavigateAI, aims to build what Wu describes as an AI coach for construction workers and has raised $25 million in seed funding at a $225 million valuation. The U.S. spends $2.2 trillion annually on construction projects, but faces a severe labor shortage that’s only expected to get worse.
The company is designing an AI app to help junior workers ensure quality control, consult manufacturer manuals—even for client-specific building codes. “You can’t ask ChatGPT today, ‘Is this in line with Lennar standards?’” Wu said.
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- Chipmaker Micron Technology reached a $1 trillion market value amid Wall Street enthusiasm for memory chips as a crucial part of the AI buildout.
- Pope Leo XIV ramped up his AI warnings a day after his encyclical, expressing concern about a concentrated group of powerful actors controlling decisions on algorithms and data.
Business + Finance
Oil giant BP removed its board chair Albert Manifold just eight months into his tenure, with the board citing concerns about “governance standards, oversight and conduct.” Manifold was appointed to BP’s board in October 2025 following years of leadership turnover as the firm has fallen behind its rivals.
Tech + Innovation
The Trump administration is in discussions with five nuclear energy startups to provide them with surplus plutonium from dismantled Cold War-era nuclear warheads, for conversion into fuel for reactors. Energy Secretary Chris Wright previously sat on the board of one of the firms, California-based Oklo, though the company says he stepped down and divested his shares last year.
Less than a year after leaving to raise their own smaller, founder-led VC funds, two former Benchmark investors are pitching a joint $800 million AI fund to back early- and growth-stage startups. It would be the largest raise of the year for a new fund and comes at a time when a handful of mega funds have raised huge sums.
Money + Politics
Texas Attorney General Ken Paxton beat Sen. John Cornyn on Tuesday in the heated runoff for the Texas Senate GOP primary, after President Donald Trump bucked many in his party and endorsed Paxton. Paxton will face Democratic nominee, state Rep. James Talarico, in what is expected to be a highly competitive general election.
World
Iran threatened retaliation against the U.S. over its “self-defense strikes” on Iranian forces Monday, escalating tensions despite President Donald Trump’s suggestion that progress was being made on a peace deal. Secretary of State Marco Rubio said negotiations to end the war would continue in Qatar despite the attacks.
DAILY COVER STORYSarah Guo Bet Everything On AI Pre-ChatGPT. Now She’s One Of The World’s Top Investors
Venture capital investor Sarah Guo went all in on AI years before ChatGPT’s launch made it mainstream.
Her stakes in some of her portfolio’s crown jewels have grown more than tenfold: legal AI company Harvey, ChatGPT for doctors OpenEvidence, AI-powered customer service firm Sierra, AI coding startup Cognition and open source AI developer Mistral. Combined, these six startups alone are worth $62 billion.
Guo realized early that the rise of AI would upend beliefs long held by large VC firms—that robotics would never work, that it’s difficult to sell software to lawyers and doctors, that you shouldn’t do scientific research in venture-backed companies.
“There are a lot of priors that come from traditional venture about both markets and how you build companies that we thought would be challenged,” Guo tells Forbes.
In 2022, she wagered her entire career on that thesis, leaving her cushy job at storied VC firm Greylock to launch AI-focused early stage VC firm Conviction with a $101 million inaugural fund—one month before ChatGPT made AI’s potential obvious to the masses. Now, that gamble has clearly paid off. This year, Guo makes her debut at No. 56 on the Midas List of the top 100 venture capital investors, and returns to the Midas Seed list for the second time.
WHY IT MATTERS “Sarah Guo’s foresighted decision to start her AI-focused VC fund Conviction in October 2022 has clearly paid off,” says Forbes staff writer Rashi Shrivastava. “The 37-year-old investor has backed a string of successful AI startups across sectors like law, healthcare, customer service and coding. Thanks to her stunning investing track record and deep tech focus, she’s widely regarded as one of the most prominent voices in AI in Silicon Valley.”
MORE The Midas List
FACTS + COMMENTS
Beef prices are surging as a result of a historic cattle shortage, putting pressure on steakhouses. Still, while local barbecue institutions have shuttered, value chains like Texas Roadhouse and Outback Steakhouse are seeing growth:
17%: How much steak prices have spiked in one year, to $13.02 per pound
$6.90 per pound: The record price ground beef reached in April, according to Federal Reserve data
Roughly 28%: How much wholesale brisket in Texas is up year-over-year
STRATEGY + SUCCESS
If you’re starting to stagnate in your current role, there are ways to own your professional growth—without quitting. Try learning new skills outside of your daily responsibilities that can open doors to future jobs. Learn from colleagues from other teams or departments, and if you still find there are limited ways to expand, then it may be time to consider a new opportunity.
VIDEOQUIZ
A luxury auto brand unveiled a new electric supercar, leading to some backlash online over its appearance. Which sports car brand was it?
A. Lamborghini
B. Aston Martin
C. Bugatti
D. Ferrari
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.