📶 Elon snags $6b to challenge ChatGPT

xAI's gigafactory of compute, TikTok lays off operations, and AI strategies for 11 of the biggest companies in the world

May 31, 2024 • Estimated Reading Time: 7 minutes

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After a brief hiatus … we’re back to our regular posting schedule.

There are a ton of venture stories to catch up on.

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TL;DR:

HEADLINES
Elon snags $6b to challenge ChatGPT 👀

  • Musk Plans xAI Supercomputer, Dubbed ‘Gigafactory of Compute’ (The Information)

  • TikTok Lays Off Operations and Marketing Employees, Announces New Org Structure (The Information)

  • Y Combinator removes Indian startup from batch over ‘irregularities’ (TechCrunch)

  • Health And Biotech Startups Now Get The Majority Of US Series A Funding (Crunchbase)

  • How Bain Capital Ventures Incubates AI (Crunchbase)

  • The risks of letting your LPs ride shotgun (Pitchbook)

  • Peter Thiel’s Valar Ventures closes $300M fund, less than half the size of predecessor (Pitchbook)

  • AI strategies for 11 of the world’s largest companies: Where Eli Lilly, Visa, Oracle, and 8 other giants are making moves (CB Insights)

  • Databricks is expanding the scope of its AI investments with second VC fund (Fortune)

  • OpenAI begins training new frontier model — but GPT-5 won’t come for at least 90 days (Venturebeat)

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FUNDS

Find new funds before the crowd

Get early access to which funds are raising and who is hiring

Name

Fund Size

Fund Number

DSC Investment

$219m

I

TPG

$5.3b

I

Vance Street Capital

$775m

IV

97212 Ventures

$20m

I

Avenue Capital Group

$1b

V

Rev1 Ventures

$6m

I

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RESULTS

Here are the results from our poll question from our last piece:

What is the right number of partners in a VC general partnership?

🟨🟨🟨🟨⬜️⬜️ 1: I love the solo GP model (11)

🟩🟩🟩🟩🟩🟩 2-3: Every partnership needs checks and balances (13)

🟨🟨🟨🟨⬜️⬜️ 4-5: Not too big, not too small (11)

🟨🟨🟨⬜️⬜️⬜️ 5+: The more, the merrier (8)

43 Votes

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