Anthropic released Claude Opus 5 on July 24, a 1M-token-context model with a reasoning-effort toggle, priced at $5 per million input tokens and $25 output, approaching the frontier intelligence of its Fable 5 model at roughly half the cost and posting state-of-the-art scores on coding and knowledge-work evaluations. Opus 5 is now the default model on Claude Max and the strongest tier for Claude Pro subscribers. Separately, Stripe is negotiating to acquire OpenRouter at a valuation near $10 billion, according to a Wall Street Journal report. Inference chip startup Etched closed a $300 million Series C at a $10.3 billion valuation, doubling its December valuation of $5 billion. Black Forest Labs released FLUX 3 on July 23, a multimodal model generating images, video clips up to 20 seconds with native audio, and a companion Action variant for robotic manipulation. Atoms, Travis Kalanick's holding company, closed a $1.7 billion round led by Andreessen Horowitz. OpenAI disclosed Project Camellia, a data center campus in Effingham County, Georgia, with costs potentially exceeding $30 billion at full scale.