Colossal, the Dallas-based de-extinction company seeking to recreate the dire wolf and woolly mammoth, is in talks to raise new money at a valuation of at least $20 billion, Axios has learned.

• That's up from $10.2 billion in early 2025.

Why it matters: Investors believe the company's work could be foundational in pharmaceuticals, climate change reversal, and longevity.

Zoom in: The company was pre-revenue when it raised its last round of funding but now has some revenue, sources say.

• The lead investor is unknown, but the round is expected to value the company between $20 billion and $30 billion.
• Colossal has discussed the raise for months now, and is nearing a resolution.

Catch up quick: Colossal revealed earlier this year that it had successfully hatched chicks from artificial eggs — paving the way to recreating to South Island giant Moa.

• CEO Ben Lamm told Rolling Stone in May that he expects to create an artificial womb for mammals within a year, opening the door to human usage.
• The company is also creating a biovault and preservation lab to store frozen tissue and biological samples of 10,000 species inside Dubai's Museum of the Future.

Zoom out: The company has two spin-off companies — plastic degradation company Breaking and DNA analytics software company Form Bio, which is based in Austin.

The other side: Critics argue that Colossal's recreations are more PR stunt than real scientific advancement, with some arguing that its revival of extinct species could have ecological risks.

Go deeper: How the gene editing technology works

The Dallas Mavericks have tapped a New York-based company with ties to Dallas Cowboys owner Jerry Jones to help with their move to a new arena.

Why it matters: Mavericks president Ethan Casson says he wants the team's next arena to "redefine the premium and fan experience in Dallas and beyond."

Catch up quick: The Mavericks plan to move out of American Airlines Center in 2031 and relocate to a site where Valley View Mall once stood.

• The team imagines a "vibrant mixed-use destination anchored by a state-of-the-art arena," with restaurants and green spaces close by.

The latest: Legends Global will serve as owner's representation for the project, guiding the Mavericks through budgeting, construction schedules and conversations with architects and contractors.

• The company will also oversee the venue's premium seating sales.

Flashback: Affiliates of the Dallas Cowboys and New York Yankees launched Legends Hospitality in 2008, with backing from Jerry Jones.

• The company has expanded over the years to include venue management, hospitality, owners representation and merchandising.
• Chad Estis, Legends Global's chief revenue officer, also serves as the Cowboys' executive vice president of business operations.

Fun fact: The company oversees Exchange Hall in the AT&T Discovery District.

📺 EXCLUSIVE: Nvidia CEO Jensen Huang sat down with Axios' Mike Allen in Fort Worth at the opening of a new phase of Wistron's advanced manufacturing plant, which makes AI infrastructure for Nvidia.

• Huang defended Chinese AI companies and open AI models like Kimi. Check out his comments in Mike's Behind the Curtain video series: Watch a clip on YouTube ... Subscribe to our channel.

🗂️ Two private contractors will manage child welfare cases in Dallas County and eight surrounding counties. The previous contractor was under scrutiny for mishandling cases after two infants died. (Lab Report)

🐭 Irving-based Chuck E. Cheese plans to open an 18,000-square-foot Adventure World in Plano. (WFAA)

❌ The HUB food hall in Allen has closed after hosting family-friendly programming and charity events for almost four years. (Allen American)

Galleria Dallas is getting a glow-up, and mall operators hope the upgrades will keep guests at the mall longer than usual.

State of play: The 43-year-old mall is updating the flooring, lighting and seating areas around the skating rink. The teal glass over the rink is being replaced with a brighter off-white finish.

What's next: The North Plaza between Grand Lux Café and the Westin will get updated landscaping, seating and paving, the Galleria announced yesterday. The valet stand will also be upgraded.

• Grand Lux Café will also update its façade, per a news release.
• Construction is slated to be completed in the first quarter of 2027.

What they're saying: "We've long wanted a grand entry to welcome shoppers in on the northwest side of the center, and are pleased it's finally coming to fruition," Galleria Dallas general manager Angie Freed said in a statement.