Global business updates: AI funding, biotech deals, and real estate conversions

Various global business developments highlight significant investments in AI, biotechnology, and real estate.

In the AI sector, the startup Mirendil, which features former Anthropic team members, is negotiating a new funding round at a potential $5 billion valuation. The company aims to fund its own models and training runs, focusing on a 'recursive self-improvement' strategy where models evolve with minimal human intervention.

In biotechnology, Boehringer Ingelheim has entered an agreement with New York-based AI startup Envisagenics, worth up to 870 million euros. The partnership utilizes the SpliceCore platform to identify cancer targets within RNA splicing rather than the genome, aiming to develop new classes of antibodies against solid tumors.

In the financial sector, a Brazilian fintech startup has reportedly completed a $70 million Series D funding round, reflecting a broader trend of capital deployment in Latin America focused on infrastructure and risk management.

In real estate, Santander Bank and Washington Capital Management are financing a $113 million project in Chicago. The initiative involves converting a 25-story office building at 500 North Michigan Avenue into 384 mixed-income residential units.