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Listen to our AI-generated podcast summarizing today’s newsletter (beware the hallucination at the end about Amazon robots):

1. OpenAI raises $6.6B in largest VC round ever, reaching post-money valuation of $157B

The latest round has 7.9x’d OpenAI’s valuation from $20B in 2022:

~1.3B: Joshua Kushner’s Thrive Capital led the round.
Microsoft, NVIDIA, and SoftBank were among the participating investors.
The deal topped the $6B raised by Elon Musk’s xAI.
The funding would help OpenAI "double down our leadership in frontier AI research, increase compute capacity, and continue building tools."
Avoid backing rival startups including xAI, OpenAI has asked investors.

OpenAI is now worth far more than any VC-backed company at the time of their IPO

PitchBook.

Only SpaceX ($180B) and ByteDance ($220B) are worth more in the private company space.

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3. Crude oil +1% to $70 as markets await Israel’s response to Iran

Google Finance.

OpenAI raises $6.6B in largest VC round ever, reaching post-money valuation of $157B

0. Data and calendar

1. OpenAI raises $6.6B in largest VC round ever, reaching post-money valuation of $157B

OpenAI is now worth far more than any VC-backed company at the time of their IPO

2. Not Your Grandpa’s Hearing Device*

3. Crude oil +1% to $70 as markets await Israel’s response to Iran

Keep reading

Apple said to test China’s CXMT RAM as U.S. rules block technical sharing

OpenAI said to plan $300+ hockey puck-sized AI speaker for 2027

OpenAI seeks dismissal of Apple’s trade secrets lawsuit

SpaceX Q2 revenue +92% YoY to $7.8B, vs. $6.8B est., net loss narrows to $0.5B

OpenAI raises $6.6B in largest VC round ever, reaching post-money valuation of $157B

0. Data and calendar

1. OpenAI raises $6.6B in largest VC round ever, reaching post-money valuation of $157B

OpenAI is now worth far more than any VC-backed company at the time of their IPO

2. Not Your Grandpa’s Hearing Device*

3. Crude oil +1% to $70 as markets await Israel’s response to Iran

Subscribe to keep reading

Keep reading

Apple said to test China’s CXMT RAM as U.S. rules block technical sharing

OpenAI said to plan $300+ hockey puck-sized AI speaker for 2027

OpenAI seeks dismissal of Apple’s trade secrets lawsuit

SpaceX Q2 revenue +92% YoY to $7.8B, vs. $6.8B est., net loss narrows to $0.5B