Clean Capital

Climate technology startups in Washington state are securing new funding rounds even as the artificial intelligence boom pulls venture capital away from other sectors. The news highlights a growing tension for founders outside AI: investors are concentrating capital in a handful of AI companies, making fundraising harder for climate and clean-tech firms. The Washington founders' success stands out as a counterexample in a tightening market.

American households hold trillions of dollars in unrealized gains on stocks and real estate, and most of it will never face income tax. A rule dating to 1921 resets the cost basis of inherited assets at death, erasing capital gains tax on a lifetime of appreciation. Critics argue the so-called step-up in basis is a massive tax break skewed toward wealthy families, while defenders say it prevents double taxation of estates and spares heirs from selling assets to cover bills on gains they never realized.

Axios has published its weekly roundup of energy and climate deals, highlighting the latest funding, mergers and investment activity across the clean energy and climate technology sectors. The feature tracks which startups and companies secured capital this week, offering a snapshot of where investors are placing bets in the energy transition. It serves as a regular briefing for those following climate finance and clean tech markets.