British AI startup Synthesia closed a $200 million Series D at a $4 billion valuation, led by Alphabet’s GV and Nvidia’s NVentures alongside Accel, NEA, Hedosophia, Evantic and Air Street Capital. The fresh capital nearly doubles its January 2025 valuation of $2.1 billion, with Synthesia now reporting $150 million in annual recurring revenue and targeting over $200 million ARR in 2026. The round includes a secondary share sale for employees via Nasdaq, and funds will accelerate deployment of agentic video capabilities that allow real-time interaction, role-play training and personalized learning for enterprise clients.

Alphabet shares have climbed more than 70% over the past six months as investors bet on accelerating AI adoption and cloud demand. In Q3, revenue rose 16% year-over-year to $102.3 billion, led by 34% growth in Google Cloud to $15.2 billion and a 15% increase in YouTube advertising. Cloud operating income nearly doubled to $3.6 billion, while backlog surged 82% year-over-year to $155 billion. To support this momentum, capital expenditures rose to $24 billion in Q3, and management now forecasts 2025 capex between $91 billion and $93 billion, directed primarily at servers, data centers and networking infrastructure for AI services.