Good Evening!
It’s a competition out there for who’s having the worst week: Nvidia shareholders, Sonder guests, or Disney content distribution lawyers.
Here are the 7 things you missed today:
1. 🤯 SoftBank Sold Its Entire $5.8Bn Nvidia Stake to Fund OpenAI
Well, this is one way to shock investors. Tokyo-based conglomerate SoftBank has sold its roughly 32 million shares – about $5.83 billion – in U.S. chipmaker Nvidia to help fund more investments in OpenAI, aiming for $30 billion in funding. As a result, Nvidia shares dipped 1.5% in early U.S. trading today. (Quartz)
2. 💰 You can invest alongside top-tier investors directly on StartEngine*
AEXLAB is backed by Valor Equity, Fuel Venture Capital, Hartmann Capital, and Subversive Capital, and has raised $15M+ across previous rounds.
AEXLAB built VAIL VR, a top-rated multiplayer shooter with 365K+ monthly players.
They’re now raising on StartEngine to grow the game, expand their community, and build the future of competitive VR.
3. 🏕️ Sonder Left Guests Stranded Mid-Stay After Marriott Ended Partnership
Hopefully you weren’t one of the unfortunate guests staying at a Sonder property last weekend. The short-term rentals company abruptly collapsed over the weekend when its partnership with Marriott ended, forcing many guests to vacate their rooms with short notice. Marriott says the 20-year licensing agreement had ended because of Sonder’s financial difficulties. (CNN)
4. 🪵 WOOD FOR THE NEXT GENERATION IS HERE*
Wood has been the go-to in building for centuries, until now.
Introducing wood that doesn't come from trees: ACRE by Modern Mill. It’s made in Mississippi from upcycled rice hulls, agricultural waste that usually gets burned or dumped. The material stains like wood, looks like wood, but has much less maintenance needs and just as much beauty!
The company is targeting to revolutionize a $500B+ building materials market, starting with siding, trim, decking and more.
5. 📺 Disney is Losing Over $4M/Day on YouTube TV Blackout
YouTube TV subscribers aren’t the only ones hurting. Morgan Stanley estimates Disney’s blackout with the platform is costing them $4.3 million a day in lost revenue – aka $30 million a week. That said, analysts expect the two parties to reach a resolution by the end of the week. (The Verge)
6. ☁️ Google is Introducing Its Own Apple Private Cloud Compute Dupe
If Google’s Private AI Compute sounds similar, that’s because it is. The tech leader is rolling out a new cloud-based platform that lets users unlock advanced AI features on their devices while keeping data private… just like Apple’s Private Cloud Compute. The offering is a compromise to ship more difficult AI requests to a cloud platform offering the same degree of security as on-device processing. (The Verge)
7. 👀 AI PowerPoint Killer Gamma Hit $2.1Bn Valuation
Microsoft Office better watch out. Gamma, a startup that creates AI-generated presentations, websites, and social media posts, announced their $68 million Series B round yesterday at a $2.1 billion valuation led by Andreessen Horowitz. The company’s Co-founder and CEO also noted that the company has profitably hit $100 million in ARR with 70 million users just three years after its first product launch. (TechCrunch)
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*This Reg CF offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Past performance is not indicative of future results. This ad may contain forward-looking statements based on current expectations.