Figma's $50+b IPO

**OpenAI**'s stealth model **horizon-alpha** on **OpenRouter** sparks speculation as a precursor to **GPT-5**, showing strong reasoning and SVG generation capabilities, comparable to **Gemini 2.5 Pro**. **Alibaba** released the **Qwen3-Coder** family, including a fast **Qwen3-Coder-Flash (30B-A3B)** variant with agentic features and 1M context length support via **UnslothAI**. **Cohere** launched **Command A Vision**, a 111B parameter open-weights vision-language model outperforming **GPT-4.1** and **Llama 4 Maverick** on enterprise benchmarks. **Black Forest Labs** introduced **FLUX.1 Krea [dev]**, an open-weights photorealism model compatible with fine-tuning tools like **diffusers** and **ostrisai**. **Zhipu AI** unveiled **GLM-4.5**, a hybrid reasoning open model with agentic capabilities available on **Together AI**. Discussions highlight the rising importance of **inference-time training** and **reasoning model generalization**. **Mistral AI** released the technical report for **Voxtral** continuing its open science efforts.