US-based startup Fundamental, led by Israeli entrepreneur Gabriel Suissa, secured $275 million in funding this year, valuing the company at $1.45 billion. This capital injection accompanies the company's announcement of an upcoming engineering hub in Tel Aviv, set to launch on June 2. The expansion aims to recruit "dozens of employees" for engineering and infrastructure roles by the end of 2026, leveraging local labor to develop an AI model designed to optimize enterprise decision-making for corporations across finance, supply chains, and healthcare.
Fundamental emerged from stealth in February 2026 with its AI model, having secured its substantial funding round from a consortium of investors. The round was led by US fintech investor Oak HC/FT, with additional participation from Valor Equity Partners, Battery Ventures, Salesforce Ventures, and Hetz Ventures. The network of capital further extends to angel investors, including Wiz CEO Assaf Rappaport, Perplexity CEO Aravind Srinivas, Brex co-founder Henrique Dubugras, and Datadog CEO Olivier Pomel, all contributing to the accumulation of wealth behind the venture.
Fundamental was founded in October 2024, marking its second year of operation, by Gabriel Suissa and serial entrepreneur Jeremy Fraenkel. The company currently employs 70 people across its existing offices in San Francisco, Barcelona, and a small presence in Tel Aviv, indicating a strategic global footprint for capital deployment and talent acquisition.
Capital's New Frontier
The core function of Fundamental's AI foundational model is to crunch large databases that underpin enterprise decision-making. This technology is explicitly designed to predict risks and trends such as financial fraud, pricing, and customer churn, serving as a sophisticated tool for corporations to maximize profits and control market dynamics. The model aims to provide a new layer of surveillance and optimization for capital.
Gabriel Suissa stated, “At Fundamental, we are building a new category of AI designed for the data that is the backbone of the business world, from financial systems to supply chains to hospitals.” He further elaborated on the instrumental view of labor, adding, “To solve a technology problem of this magnitude, we need to recruit the best talent in the world, which is why the decision to open an engineering hub in Israel felt natural and obvious to us.” This frames skilled labor as a resource to be tapped for capital's strategic investments.
The Nexus model, developed by former DeepMind alumni including Marta Granelo, is trained on billions of tabular datasets. Its design allows it to analyze raw tables with "almost no need for complex configuration," sometimes using just a “single line of code,” and to process massive databases without the inaccuracies typically associated with traditional AI models. This technological advancement serves to streamline corporate control and efficiency, further entrenching the power of large enterprises.
The Mechanism of Extraction
Fundamental has already secured "seven-figure contracts" with Fortune 100 enterprises. These lucrative agreements span critical sectors of the global economy, including oil and gas, finance, and healthcare, demonstrating the direct application of this AI in industries known for significant surplus extraction and wealth concentration. The technology is being deployed to enhance the operational capabilities of the largest corporations.
Further solidifying its integration into the global capitalist infrastructure, Fundamental recently entered into a partnership with SAP. This collaboration aims to integrate the Nexus model into SAP’s business AI platform, assisting organizations in analyzing large volumes of tabular data and generating more accurate business predictions across areas such as finance, supply chains, operations, and risk management. Earlier this year, Fundamental also inked a partnership deal with Amazon Web Services to sell its Nexus AI model, expanding its reach and market penetration.
Suissa underscored the long-term vision behind these moves, stating, “This is a long-term strategic investment on our part.” This declaration highlights the sustained commitment of capital to developing and deploying technologies that reinforce existing power structures and facilitate ongoing wealth accumulation through enhanced corporate efficiency and control.
Global Reach of Corporate Power
The expansion into Tel Aviv and the strategic partnerships with major software and cloud providers illustrate the relentless drive of capital to integrate advanced AI into the core operations of global corporations. This move is not merely about technological innovation but about securing and expanding the means by which wealth is concentrated, labor is optimized, and corporate power is extended across vital economic sectors.