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Kazakhstan’s Higgsfield AI Becomes First Billion-Dollar Tech Unicorn in the Country
On October 11, 2025, Kazakhstan’s artificial intelligence startup Higgsfield AI officially surpassed a $1 billion valuation, making it the country’s first-ever unicorn. The announcement came from founder and CEO Alex Mashrabov, who noted that no local company had reached this milestone in the past 15 years.
Product Offering and Recent Milestones
Higgsfield AI provides access to both proprietary and third-party AI models via subscription-based services. The startup recently acquired Alibaba’s Wan 2.5 model for $100 million, enhancing its ability to generate promotional videos and trailers with dynamic, AI-driven camera motion.
Founder Background and Financial Success
Mashrabov previously led the generative AI division at Snap Inc. He emphasized that reaching unicorn status is a historic moment for Kazakhstan’s tech ecosystem. Higgsfield AI currently reports annual revenues exceeding $50 million.
Investor Backing and Regional Impact
The company has secured backing from major international investors, including Menlo Ventures, known for funding top AI firms like Anthropic.
Experts believe Higgsfield AI’s rise will inspire further innovation across Central Asia and draw increased interest from global venture capital into the region’s tech scene.
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British companies that invested in Bitcoin in 2025 lost £80 million ($106 million) due to its decline, ria.ru reports, citing an article in the Telegraph.
Companies listed on the London Stock Exchange spent £360 million on cryptocurrency purchases in 2025. According to the newspaper, they bought Bitcoin at a high price. This means 13 companies purchased 4,300 Bitcoins for $113,100, while the digital currency is currently worth around $88,000. In total, the losses amounted to £79.1 million.
According to the publication, Bitcoin's rise last year was driven by Donald Trump's victory in the US election and hopes that his administration would be favorable to cryptocurrencies.
However, by 2025, its price had fallen by almost 12 percent. The number of Britons investing in Bitcoin also fell from 12 percent to 8 percent.
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