This week in COSS: Nous Research, the startup behind the OSS Hermes agent, is in talks to raise mew funding at a $1.5 billion valuation. Meanwhile, Anaconda has acquired Kilo Code, expanding its open-source AI development platform. DeepSeek continues to dominate headlines, with a reported new valuation of around $52 billion and separate reports that the company is in talks to raise $1.5 billion ahead of a potential 2027 IPO.

On the news and announcements front, Thinking Machines Lab released Inkling, its first open-weight model; Fenris Creations (formerly CCP) open sourced Carbon Engine, the technology powering its popular EVE Online MMORPG; Mozilla published its inaugural “State of Open Source AI” report; Chatto, a group and team chat application, became open source and available for self-hosting; and DeepSeek’s 75% price cut on its V4-Pro model is prompting enterprise AI vendors to grapple with persistent margin challenges.

We also feature the following companies in Cossmology: Autobase, Chatto, Cosmic Stack, dbtrail, DearSQL, Fenris Creations, Mozilla Corporation, Pixeltable, SereneDB, and Thinking Machines Lab.