Friday’s wire leaned hard toward capital going into physical things. Reactors, cathode plants, industrial printers. The AI announcements were there too, but they had a different shape than they did a year ago, and that shift is the more interesting story. Hardware got the big cheques Antares picked up a $161 million Strategic Breakthrough Award to demonstrate a space reactor. That is a demonstration contract, not a production one, and the gap between those two things has swallowed plenty of nuclear programs before.

Integral Privacy Technologies has raised $25 million in total funding, with backing from Venrex, The General Partnership, Array Ventures, GreatPoint Ventures, LiveRamp Ventures, Haystack, Virtue Ventures, Also Capital, Caffeinated Capital, LifeX Ventures, Circle & Co, and WS Investments. The round is aimed at scaling what the company calls its Forward Deployed Privacy Services — a service layer meant to make sensitive real-world data usable for AI training without triggering the regulatory and re-identification risks that normally keep that data locked away.