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EXPLAINED: 2 | Vintage Vibes

Troubled AI Processor Developer Graphcore Finds a Buyer: SoftBank

After months of searching for a buyer, troubled U.K.-based AI processor designer Graphcore said on Friday that it has been acquired by SoftBank. The company will operate as a wholly owned subsidiary of SoftBank and will possibly collaborate with Arm, but what remains to be seen what happens to the…

AnandTech

AI industry needs to earn $600 billion per year to pay for massive hardware spend — fears of an AI bubble intensify in wake of Sequoia report

As AI companies increase their investments in infrastructure, their revenues are not growing that fast, financial analysts note, implying that AI could become a bubble.

Tom’s Hardware

Exclusive: Wholesale marketplace unicorn Faire elevates CFO Lauren Cooks Levitan to president

Since its launch in 2017, the startup has raised over $1 billion from investors such as Sequoia Capital, Founders Fund, Y Combinator, Khosla Ventures, and Lightspeed Venture Partners.

Fortune

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Why a ‘collective conversation’ is so important for tech and AI right now

The advent of generative AI has supercharged a tech industry that was already bringing dizzying changes to business. Leaders from VC firm Sequoia Capital as well as companies like Google, Amazon, and Salesforce, will convene at Fortune's Brainstorm Tech this July to help put things in perspective.

Fortune

Exclusive: Privy, the crypto startup powering buzzy consumer tools, raises $18 million

Privy is behind the hot new restaurant reservation app Blackbird launched by the founder of Resy.

Fortune

NOT REAL NEWS: A look at what didn't happen this week

Social media users shared a range of false claims this week

The Independent UK

WhatsApp Founder Brian Acton’s Missed Opportunity At Facebook Leads To $3 Billion Windfall

Rejected by Facebook in 2009, Acton's decision to launch WhatsApp pays off with a $3 billion acquisition deal

Zenger

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Sequoia Capital Undergoes Major Changes Amidst Market Volatility And Departure Of Key Investors‌

Long-standing Partner Michael Moritz shifts focus to wealth management business, several other partners step down.

Zenger

Meta Unfurls Threads, But Tangles With Threads.com, Started By 3 Former Facebook Employees

Threads has over 10 million downloads already and displayed the potential to outpace Twitter.

Zenger

Making sense of Sequoia Capital’s big breakup with China

Sequoia is spinning off its China and India units into independent firms.

Fortune

The Sunday Times rich list 2023: The five richest people in Wales

There are five Welsh billionaires named on the list of UK billionaires this year

Wales Online

Sequoia China Affiliate SCEP Applies for QFII Status

The unit seeks to access the mainland via Beijing’s Qualified Foreign Institutional Investor program

Caixin Global

Fidelity is writing down its Twitter investment—will Sequoia and a16z be next?

Fidelity docked the value of its Twitter holdings by approximately 56%, according to disclosures.

Fortune

VC giant Sequoia writes down $214 million investment in FTX to zero: 'We are in the business of taking risk'

One of the most successful VC firms of all time invested in FTX in July 2021, when it was valued at $18 billion.

Fortune

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Axios

Inside Sam Bankman-Fried's call with investors

FTX's founder and CEO was apologetic, but not terribly forthcoming.

Axios

Sequoia Capital tells investors it did proper due diligence on FTX

This is the first official communication between the firm and its limited partners, since the FTX collapse.

Benzinga

Benzinga Before The Bell: Record Inflows In 'Short Bitcoin' Funds, Elon Musk's Trillionaire Possibility, Gmail's Political Bias And Other Top Financial Stories Tuesday, July 5

Reuters

The Hindu

Sequoia India asks court to dismiss lawsuit by its former counsel

NEW DELHI

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Benzinga

Morning Brief: Top Financial Stories Dominating on Tuesday, June 14

CNBC

Benzinga

Sequoia Capital Closes Largest India and Southeast Asia Dedicated Fund: Reuters

As Sequoia Capital looks beyond current investment weakness in new companies in Asia, it has raised $2.85 billion to fund Indian and Southeast Asian startups.

Benzinga

Citadel And Virtu Hone Crypto Executions For Retail Brokerages

Citadel Securities, alongside Virtu Financial Inc (NASDAQ: VIRT) and venture capital firms Sequoia Capital and Paradigm, is building a cryptocurrency trading ecosystem.

Al Jazeera

Funding winter descends on Indian startups

Mid-to-late stage startups after raising record funds last year are now struggling to survive.

Fortune

The good times in Silicon Valley come crashing to a halt

The easy money is gone, the market’s a mess, and there’s no exit in sight. Now investors in private companies are wondering how bad things are going to get.

Benzinga

Apollo Looks To Lead $1B Preferred Financing For Musk's Twitter Bid

Apollo Global Management, Inc (NYSE:APO) discussed leading preferred financing for Elon Musk's proposed buyout of Twitter Inc (NYSE:TWTR), Bloomberg reports. The funding, arranged by Morgan Stanley, will exceed $1 billion and may include Sixth Street Partners, among other firms. Musk recently bagged $7.1 billion in equity commitments from investors including Larry Ellison, Sequoia Capital, and Qatar. …

Benzinga

Jane Street Plans To Borrow $25M In USDC Crypto Via Clearpool: Bloomberg

Wall Street’s trading powerhouse Jane Street, famed for its domination in markets such as ETFs and corporate bonds, is turning to decentralized finance to borrow cryptocurrency, reported Bloomberg. Jane Street plans to borrow up to $25 million in USDC, a stablecoin pegged to the US dollar, to expand to $50 million.…

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