$PI Combining publicly available information from the Miami Conference with the latest updates: there are no official announcements of large-scale investments/acquisitions yet, but there are clear progress in strategic partnerships, ecosystem integration, and institutional contacts, with the core being a combination of "real identity network + AI + compliant capital."

1. Officially announced collaborations (ready to implement)

1. CiDi Games (Web3 gaming) - Signed agreement to jointly build the Pi gaming ecosystem, including an H5 gaming platform and SDK tools.
- Released a roadmap on May 3, with testing scheduled for Q3 2026, with Pi as the core payment medium within the game.
2. PI FOR AI (AI data collaboration) - Opened to AI companies with over 18 million real identity verification users, providing compliant annotation/training data.
- During the conference, signed letters of intent with three North American AI startups, focusing on medical and educational data scenarios.
3. Compliant payments and physical merchants - Partnered with two Latin American cross-border payment institutions to promote Pi payments for local merchants (Mexico, Brazil).
- Connected with Southeast Asian e-commerce platforms, planning to launch Pi settlement channels in Q3.

2. Investment intentions and institutional contacts (during the conference)

1. Top VC engagement (not officially announced) - Closed-door discussions with 12 funds including a16z, Coinbase Ventures, Paradigm.
- Core focus: ecosystem investments under compliance conditions, with particular attention to the progress of smart contract deployment and KYC compliance on May 11.
2. Initial engagement with tech giants - Google and Microsoft AI teams: exploring enterprise solutions for “Pi decentralized KYC + AI identity verification.”
- IBM and Oracle: negotiating supply chain traceability and cross-border trade finance cooperation scenarios.
3. Regulation and mainstream recognition - Closed-door talks with SEC and CFTC officials, clarifying a focus on practical tokens and avoiding securitization.
- Official conference sponsors, with founders appearing alongside Federal Reserve and World Bank representatives, entering mainstream visibility.

3. Summary of key progress (one sentence)

- Investment: No official financing announcements yet, but 12 top VCs are awaiting the upgraded compliance ecosystem investment on May 11;
- Collaboration: Signed or in-progress agreements in three major areas—gaming, AI data, cross-border payments, with implementation starting in Q3;
- Key signal: Upgrading from “mining projects” to real identity infrastructure, gaining recognition from mainstream tech and regulators.