Another major AI funding round, reportedly in the works.

OpenAI co-founder Ilya Sudzkevair in talks to raise funds at a $30 billion valuation for his pre-revenue startup,

safe superintelligence.

Another example of a Silicon Valley company that is, for now, off limits to the general public.

But those rules could get a second look under President Trump's new SEC.

Kate Rooney has more in today's tech check.

Hi, Kate.

Hey, Mike.

Good morning.

So there is this renewed focus on the SEC's so-called accredited investor laws.

Those are designed to protect less experienced investors from private markets, which often come with higher risk.

But increasingly high rewards.

And so to get in on venture capital, private equity, hedge funds, for example, you need at least an

annual income of $200,000 plus a net worth of at least a million dollars.

That includes about 20% of U.S. households at this point, and then there's also minimum

investments involved in a lot of these funds.

It also used to be that retail investors would get a shot at these growth companies when they

went public, but that dynamic is changing. Ventureback names are staying private, significantly

longer at this point. According to Pitchbook, the median age now of a Series D or older company,

it's about 9.7 years before that IPO in the U.S. now has over 57,000 private

startups to compare that to about 4,300 publicly listed names, about half the total that we saw

three decades ago. And then venture capital as an asset class, if you look at it, at least

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