⚡Funding Brief⚡ Enveda is a clinical-stage biotech based in Boulder, Colorado. It uses its AI platform, PRISM, to identify drug candidates in natural chemistry from plants and microbes, then develops them into oral medicines. The company says it has produced about 17 development candidates since its 2019 founding, three of which are now in human trials. None has been approved by any regulator. Per the company's press release and TechCrunch on 23 Sep 2026, Enveda raised $311 million in a Series E at a valuation of about $2 billion, according to TechCrunch, roughly double its valuation a year earlier. Catalio Capital Management led the round, with new investors including Durable Capital, ICONIQ, Lightspeed and Surveyor Capital (a Citadel company), and existing backers such as Baillie Gifford, True Ventures and Lux Capital also participating. Total capital raised now exceeds $845 million. The round follows positive early clinical results this year for ENV-294 (atopic dermatitis) and ENV-308 (metabolic health after stopping GLP-1 drugs). Proceeds will move both into later-stage trials, advance ENV-6946 (inflammatory bowel disease) through mid-stage trials, and scale the PRISM platform. Source: Enveda / BioSpace press release, TechCrunch, 2026-09-23

Wall Street’s earnings forecasts are exploding higher and the market is nowhere near finished (Save this). Analysts usually begin with optimistic forecasts and gradually lower them as reality catches up but this time, the exact opposite is happening. Goldman Sachs chart shows that global earnings estimates for 2026 have risen from roughly $52 per share to more than $61 per share. The 2027 estimate has increased even faster, rising from approximately $56 per share to more than $71 per share.. These increases are unusual because earnings estimates for most previous years moved sideways or lower as the year approached and the increases for 2026 and 2027 suggest that companies are earning considerably more money than analysts expected. So why this all happening? it's because of AI is one of the biggest reasons for this earnings growth. Goldman Sachs estimates that global AI investment will exceed $1 trillion in 2026, with approximately $581 billion of that spending occurring in the United States. This money is flowing into semiconductors, memory, networking equipment, cloud infrastructure, data centers, cooling systems and power equipment. The spending cycle also appears to have more room to run because Goldman Sachs expects global AI investment to increase from 0.9% of global GDP in 2026 to 1.3% in 2027 and 1.4% in 2028. The bank also estimates that hyperscaler capital spending could reach approximately $1.1 trillion in 2027, compared with Wall Street’s forecast of roughly $920 billion. This continued investment helps explain why the 2027 earnings line is rising so quickly. The growth is also beginning to spread beyond the largest American technology companies. Companies that provide chips, memory, electricity, construction, networking and cooling equipment are earning more money as the AI infrastructure buildout expands. This is important because a bull market becomes stronger when earnings growth spreads across more sectors, countries and companies. This is why I’m still comfortable staying heavily exposed to AI and infrastructure names. Earnings expectations are not rolling over, they’re still moving higher. If you want to see the positions I’m holding and the trades I’m making around this trend, check out my Milk Road Pro portfolio below.