# AI Valuations, Security Shifts, and Spotify Strategy

**Podcast:** TechCrunch Daily Crunch
**Published:** 2026-10-24

## Transcript

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Spotify confirms a family plan crackdown.
I'm Emron Shaikh and your weekend crunch starts right now.
While folks opening eyes reportedly close to securing another mega round of private funding rather than plowing ahead with an IPO.
You see, the AI Lab is working on raising up to $30 billion at a $1.25 trillion pre-money valuation in a round led by KOTU and investors in UAE, sources told CNBC.
Now, this follows a similar report by Bloomberg a month ago, which said the AI Lab was working on raising $30 billion at a $1.4 trillion valuation.
Terms are still being negotiated, both outlets report, so they could ultimately change.
CNBC reports that the UAE funding could also be coupled with a deal to secure more computing capacity for OpenAI from the UAE too.
OpenAI declined comment.
Now, should OpenAI command a valuation of more than $1 trillion with this round?
It would break records as the most valued private company ever.
That valuation would also raise the bar even higher for OpenAI's forthcoming IPO.
OpenAI filed confidential paperwork for an IPO in June, after its last raise in March valued the ChatGBT maker at $852 billion post money.
That high valuation could also have ramifications for Anthropix IPO, which many believe is closer to materializing.
Rumors suggest we could see Anthropix public S1 filing any day now.
The latest reports have Anthropic seeking a $1.5 to $2 trillion evaluation for its public debut CNBC reports.
Anthropic raised $65 billion at a $965 billion evaluation in May in what many believed at the time would be its last big round before an IPO.
It also filed confidential paperwork in June.
Concerns have swirled over the access that consumers are increasingly entrusting to AI agents.
Now, security services are trying to play catch-up.
Password Manager 1Password on Thursday launched a new tool by which users can allow agents to log into their personal accounts on their behalf without the agent ever having access to a user's credentials.
The new platform, dubbed 1Password for Agents, accomplishes this by creating a system of communication between the agent, the user, and the password manager.
When an agent attempts to log in on a user's behalf, a unique digital key is sent to 1Password to confirm the agent's digital identity.
The user is then sent an alert about the login attempt and can personally confirm the request.
1Password then signs in the agent, filling in the credentials on the digital assistant's behalf, which allows it to log in and complete whatever task is at hand.
1Password for Agents allows users to choose their agent of choice, whether that's Claude Duet from Anthropic, OpenAI's Dots, or ChatGPT Work, GrokBot, Meta's Muse, or Agents from Town, which is an AI-assistant startup.
The company says it's working with other companies to expand the service.
Online agent activity has increasingly unsettled major institutions.
Indeed, 1Password's new platform is launching on the same day that Axios reports that U.S.
banks have begun to detect agentic activity inside user accounts.
Bankers interviewed by the outlet described the situation as horrifying, and a Chase spokesperson interviewed by Axios additionally told the outlet that customers should not give their usernames and passwords to Anyone.
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Spotify confirmed the reports of its crackdown on family plan sharing during its third quarter call with investors, calling its new method a routine improvement to its existing verification tools.
Now, over the past several days, reports had surfaced indicating that Spotify was rolling out a QR code verification method, where the app would prompt members on its family plan to verify they lived with the plan manager by scanning a QR code.
This code appears on the plan manager's phone, which the plan member then needs to know.
to scan with their own phone, according to Spotify's support documentation.
Plan members have seven days to complete the QR code after getting a notification, which means they could be out of luck if they live outside the home and aren't planning a return visit anytime soon.
If the verification window is missed, they won't be able to join another family or duo plan for 12 months, but would instead have to shift to an individual plan that they pay for themselves.
The move is meant to boost subscription to Spotify's profitable premium plans rather than allowing adults, children, or friends who live apart from gaming the system to get a cheaper plan by splitting a family plan subscription.
During the earnings call, an investor asked a question about the crackdown and what it means, but Spotify co-CEO Alex Nordstrom downplayed the change, calling it a routine improvement, not a crackdown.
Family Plan has existed for a long while.
It has been around for, I think it is now close to 12, 13 years in Spotify history, and it makes up a pretty significant proportion of our subscriber base, said Nordstrom.
Continuing, as such, it is important for us to just make sure over time that we improve the verification methods that we have.
There are certainly ways, over time, to find holes around it.
As that happens, we figure out how to improve it over time.
The executive said that the company's attempt to better verify its users is not something that would have an end date or would ever be complete, but would be considered an ongoing, routine improvement.
And folks, that's your Daily Crunch!
Today's stories were reported by Julie Borg, Sarah Perez, Lucas Ropec, and more awesome TechCrunch journalists.
We'll see you here next week, and until then, find us at TechCrunch.com.