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1.29.26
All Eyes on AI: Regulatory, Litigation, and Transactional Developments - Q3/Q4 2025
Wilson Sonsini’s All Eyes on AI: Regulatory, Litigation, and Transactional Developments closely follows the evolving regulatory landscape for artificial intelligence (AI) in the U.S., new EU regulations for AI, international developments, litigation, recent deals highlights, firm publications, and other AI and machine learning highlights. This latest Q3/Q4 2025 edition features:
Client Highlights
11.05.25
Wilson Sonsini Advises Chilldyne on Acquisition by Daikin Applied
On November 4, 2025, Daikin Applied Americas Inc., the world’s number one air conditioning company, closed its acquisition of Chilldyne, Inc., an experienced leader in negative pressure liquid cooling systems for high-performance and AI data centers. Wilson Sonsini Goodrich & Rosati advised Chilldyne on the transaction.
Client Highlights
10.21.25
Wilson Sonsini Advises Armada Acquisition Corp. II on $1 Billion Business Combination with Evernorth Holdings
On October 20, 2025, Armada Acquisition Corp II (Armada II), a publicly traded special purpose acquisition company, and Evernorth Holdings Inc. (Evernorth), a newly formed Nevada corporation focused on enabling institutional-scale adoption of XRP, announced that they have entered into a definitive business combination agreement through which Evernorth will become a publicly listed company. The transaction is expected to raise more than $1 billion in gross proceeds, establishing Evernorth as the largest public XRP-treasury company and a first-of-its-kind institutional vehicle built to accelerate XRP adoption. Investors include SBI, Ripple, Rippleworks, and leading digital-asset and fintech investors such as Pantera Capital, Kraken, and GSR, with participation from Ripple co-founder Chris Larsen. Upon closing, the combined company will operate under the Evernorth name and is expected to trade on Nasdaq under the ticker symbol “XRPN,” subject to applicable listing requirements and other customary closing conditions.
Client Highlights
10.01.25
Wilson Sonsini Advises Zania on $18 Million Series A
On September 30, 2025, Zania, an agentic AI company for security governance, risk, and compliance, announced it has closed an $18 million Series A funding round led by New Enterprise Associates. The round also included participation from Anthology Fund (backed by Menlo Ventures and Anthropic), Palm Drive Capital, and a syndicate of senior executives from Amazon, Airbnb, PayPal, ByteDance, Reddit, Roblox, and PwC. Wilson Sonsini Goodrich & Rosati advised Zania on the transaction.
Client Highlights
9.24.25
Wilson Sonsini Advises TELO Trucks on Oversubscribed $20 Million Series A
On September 23, 2025, TELO Trucks, maker of the first electric mini truck built for U.S. cities, announced the completion of its oversubscribed $20 million Series A funding. The round was led by Yves Behar and Marc Tarpenning, co-founder of Tesla and Venture Partner of Spero Ventures. Additional investment came from TO VC, E12 Ventures, Neo, Marc Benioff, Uncorrelated Ventures, Nova Threshold, MCJ, and others. Wilson Sonsini advised TELO Trucks on the transaction.
Newsletters
9.09.25
All Eyes on AI: Regulatory, Litigation, and Transactional Developments - Q2 2025
The latest edition of All Eyes on AI addresses the White House’s AI Action Plan, the USPTO’s plan to accelerate patent review, the EC’s details of the EU AI Act for GPAI requirements, and the Japanese market’s study on generative AI markets.