Reporter @theinformation covering tech M&A, IPOs and other big tech deals | Signal validapau.59
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BIG SPACEX SCOOP WITH @coryweinberg
> Musk will have super voting shares in a dual-class structure
> He will receive stock incentive every $500B increase in market cap and can go as high as $6.6T; if the space data centers can deliver “100 terawatts of compute per year”
Sequoia, amid a big firm overhaul in recent weeks, is investing hundreds of millions in Sequence Holdings. (they did a big insurance acquisition with Michael Dell’s family office)
new from @steph_palazzolo and me
The big private/public market divide cannot be more evident today. Anthropic is targeting a 1.4 trillion valuation in the IPO when OpenAI got a 1.25T in its latest round.
FYI, there's a big difference in Q3 revenue/operating loss: Anthropic's 17B/567m vs OpenAI's 10B/10.9B
More here: theinformation.com/newslette…
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NEW: OpenAI Revenue Jumps to $10 Billion in Third Quarter
theinformation.com/articles/…
Similar to SpaceX, Anthropic also has a website mostly targeted for retail investors, including a 40 mins video from its executives.
ipo.anthropic.com/us/
News: Anthropic set a tentative valuation for its initial public offering of between $1.26 to $1.4 trillion, on a fully-diluted basis. That's slightly lower than what investors expected.
theinformation.com/briefings…
Crazy that this could happen.
Anthropic’s outside counsel in Canada late Monday sent banks an updated IPO prospectus and then retracted it, saying some of the details are incorrect.
The "wrong" S1 quickly got leaked to Reuters, which caused a whole mess.
Anthropic is launching its IPO tomorrow.
The company previously said Megaspeed has been “no different than many other regional cloud customers” and that Jensen Huang’s interactions with Alice Huang are not “unusual or unexpected.”
The Nvidia board is launching an independent investigation following NYT's and others' reports that its CEO was targeted by a Chinese informant.
Jensen also sent an apology message to employees today.
theinformation.com/briefings…
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$META chief strategy officer David Wehner posted on X that he’s leavin Meta to join Fireworks as CFO, after @theinformation reached out for comment.
NEWS: THE THING WE ALL THOUGHT IS HAPPENING IS STILL HAPPENING...¯\_(ツ)_/¯🤷♀️
theinformation.com/briefings…
👾🔥Scoop from @aaronpholmes:
Cyera is finalizing a $800M round led by Cyberstarts at a valuation of $20B, days after we wrote about it’s mulling a $20B round.
theinformation.com/articles/…
always waiting for techmeme to change it to @validapau
Sources: Palo Alto Networks is in talks to acquire Israeli startup Clutch Security, which develops software for tracking passwords used by AI agents, for ~$500M (@pauvalida / The Information)
(Visit Techmeme dot com for the link and full context!)
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NEW: Palo Alto Networks' deal machine also doesn't stop. Next on the list is Clutch Security, an AI agent security startup for ~$500M. via @theinformation
Your company went public at $185, soared to $311, now the stock is at $90. Your RSU is taxed at IPO price.
In the old days when you can't sell for at least 180 days, you should be pretty unhappy right now. But thanks to the increasingly popular *staggered* lockup, some may actually be fine!
theinformation.com/newslette…
🍪NEW: Anthropic told investors it is already using Claude to design its custom chips
- Claude cuts down the time it takes to design chips compared to Nvidia/AMD, per their engineers’ estimates
- It approached some EDA companies asking to buy or use some of their chip design data.
- OpenAI saw selling tools for chip designs as a future revenue driver
w/ @QianerLiu @_pheebini
Shoutout to the talented "The Information Staff" on this great piece on memory chips smuggling.
theinformation.com/articles/…
🎰🎰The Benioff M&A machine doesn't stop!
Salesforce is acquiring Cresta for $2.7 billion, a source said, though $CRM didn't disclose a price. It's their 10th acquisition this year.
w/ @KevKubernetes
