In IPO newsโฆ Vantage Data Centers is exploring going public at an enormous $100B valuation.
If youโre not familiar, $Oracle(ORCL.US) is their anchor tenant for Stargate (OpenAI end user), and Vantage develops/operates hyperscaler DCs.Anthropic IPO is also expected, with investors expecting $2T valuation, eclipsing $SpaceX(SPCX.US) per FT.Yeahโฆ idk about Anthropic valuations. Jim Cramer defending that valuation is never a good sign. On a side note, Opus 5 is probably the worst consumer LLM Iโve used to date, itโs like a 5 IQ LLM operating off terrible data retrieval. With a Fable-like God complex on top.Enterprise is probably having a better time though. Unitree IPO is also expected this month and priced it at a $9B valuation. Which is a positive tailwind for Unitree for the humanoid sectors. Not really an AI name but SHEIN is going public as soon as the 19th this month.Go ask any girl you know and theyโre probably familiar with this platform.
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Another Apple exit: Josh Rosenstock, spokesman for corporate & financial communications, is leaving after 14 years. Heโs helped shape the narrative around Apple & Tim Cook. A loss for Apple PR amid supply crunch, OpenAI suit & CEO change. Will be interesting to see where he goes.
Source: Mark Gurman
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๐ข ๐๐๐๐ ๐๐: OpenAI special projects head and former chief operating officer Brad Lightcap is set to depart the company. - The Information
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๐ข ๐๐๐๐ ๐๐: OpenAI plans 'ring speaker' to launch next year - $Apple(AAPL.US) $Alphabet(GOOGL.US) $Amazon(AMZN.US) $Microsoft(MSFT.US)
People familiar said OpenAI will release a new device: a screenless, donut-shaped smart speaker with movable parts, designed for one-handed portability and roughly the size of a hockey puck. The device could cost more than $300. OpenAI is targeting a 2027 launch and hopes the hardware will both set a new industry benchmark and help demonstrate its design did not copy Apple (AAPL.O). The two companies are currently in litigation over whether the AI firm misappropriated Appleโs intellectual property. - C
FeaturedHe Was Right About AI โ and Still Got Wiped Out. Here's What 4x Leverage Really Does
A $45B AI hedge fund got margin-called down to $10B in weeks. What killed Leopold wasn't the AI thesis. It was the same "leverage + concentration + homogeneity" trap that took down Bill Hwang's Archegos five years ago.
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$Microsoft(MSFT.US) Tech giant Microsoft disclosed that it generated $24.1 billion in revenue from OpenAI during its latest fiscal year, which shows just how important the partnership has become. Based on Microsoft's earlier AI growth figures, OpenAI may have produced about 70% of the company's total AI-related sales during the year ended in June. For context, OpenAI pays Microsoft to use its cloud-computing infrastructure, which provides the enormous computing power needed to build and run AI models. OpenAI also covers certain model-development costs, while Microsoft receives a share of its revenue. Because Microsoft groups all of these payments together, investors have had trouble figuring out how much of its AI growth comes from OpenAI and how much comes from other customers. It also doesn't help that Microsoft has only provided limited details about the size of its overall AI business. Indeed, at the end of the March quarter, CEO Satya Nadella said that AI revenue had reached a pace that would equal more than $37 billion over a full year. Using Microsoft's reported growth rate, Bloomberg estimated that the business generated roughly $34 billion during the fiscal year. Compared with the $24.1 billion connected to OpenAI, that suggests OpenAI contributed close to 70%. However, Microsoft has started to distance themselves from OpenAI in recent months, as they search for other partnerships and trying to reduce its reliance on OpenAI's business amidst investors' concerns. @Captain's Treasure
Trade Showcase: Trade, Show & Earn Rewards! - H
๐ข ๐๐จ๐ฆ๐ง ๐๐ก: $SoFi Tech(SOFI.US) SoFi Launches Three Private Market Funds With CAZ Investments and AngelList
๐ ๐๐ฒ๐ ๐๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐:โค ๐ฆ๐ผ๐๐ถ introduces ๐ฏ new private market investment funds.โค Funds are offered through ๐๐๐ญ ๐๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐๐ and ๐๐ป๐ด๐ฒ๐น๐๐ถ๐๐ ๐๐๐๐ฒ๐ ๐ ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐.โค Funds provide exposure to ๐๐, fintech, healthcare, defense, and other sectors.โค Investments may include companies such as ๐ข๐ฝ๐ฒ๐ป๐๐, ๐๐ป๐๐ต๐ฟ๐ผ๐ฝ๐ถ๐ฐ, and ๐๐ป๐ฑ๐๐ฟ๐ถ๐น.โค New offerings include the ๐๐๐ญ ๐๐ฃ ๐ฆ๐๐ฎ๐ธ๐ฒ๐, ๐๐๐ญ ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐ข๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ถ๐ฒ๐, and ๐จ๐ฆ๐ฉ๐ ๐ฉ๐ฒ๐ป๐๐๐ฟ๐ฒ ๐๐ฎ๐ฝ๐ถ๐๐ฎ๐น ๐๐ฐ๐ฐ๐ฒ๐๐ funds.โค Minimum investments start at $๐ฑ๐ฌ๐ฌ for the USVC Fund.โค Minimum investments start at $๐ฎ,๐ฑ๐ฌ๐ฌ for the CAZ funds.โค Funds are designed to offer ๐ฝ๐ฒ๐ฟ๐ถ๐ผ๐ฑ๐ถ๐ฐ ๐น๐ถ๐พ๐๐ถ๐ฑ๐ถ๐๐ and lower barriers to entry.โค SoFi continues expanding its alternative investment platform for retail investors.๐ ๐ช๐ต๐ ๐ง๐ต๐ถ๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ๐:โค Expands retail investor access to private market strategies once reserved for institutions.โค Broadens SoFi's wealth management offerings beyond traditional stocks and bonds.โค Increases exposure to high-growth private companies across key innovation sectors.โค Lower investment minimums could accelerate adoption of alternative investments.๐ ๐๐ ๐ฝ๐ฒ๐ฟ๐ ๐ฆ๐๐ฎ๐๐ฒ๐บ๐ฒ๐ป๐:๐๐ป๐๐ต๐ผ๐ป๐ ๐ก๐ผ๐๐ผ, CEO of SoFi:โSoFi is making alternative investing more accessible for investors looking to diversify their portfolios, but who have previously faced barriers to entry. Weโre proud to expand our selection of investment opportunities across private equity, real estate, venture capital, and more, giving members more ways to diversify their portfolios and pursue their financial ambitions.โ - P
Compute constrained.
On reflection, the growth in Q2 hyperscaler cloud backlog is utterly ridiculous. And they'll only be more ridiculous in Q3.Ofc, it's extremely bullish for $Nebius(NBIS.US)'s hyperscaler book. $Coreweave(CRWV.US) too, albeit to a lesser extent since they're lab-heavy with OpenAI commitments.Fun times ahead with Nebius Q2 earnings next week.