Musk seeks £5bn xAI funding at $45bn valuation
Musk’s xAI is in early talks with new and existing investors for fresh capital to compete with OpenAI and other AI competitors. Musk has reportedly approached investors in Qatar and Saudi Arabia, with a potential valuation of $45bn, as well as existing investors inclusing Sequoia Capital and Valor Equity Partners, which is expected to lead the round.
YouTube sale
Google buys the video sharing platform for $1.65 billion in stock, earning Sequoia a 65-fold return on its investment of $8.5 million. Botha:
I am inspired by the impact [companies like YouTube] have on the lives of hundreds of millions of people across the globe.
Mahalo Series A
The search engine is reported to raise $5 million from Cuban, Sequoia, and Miller. Valuation isn’t disclosed.
Sequoia Capital
Calacanis joins the venture capital firm as Entrepreneur In Action:
They’re good guys, they’ve made some good bets. Now, I have to figure out what to build. Got any ideas? I’ve got time. I’ve got a backer. Call me.
Funds Youtube
Botha provides $8.5 million in funds from Sequoia Capital for a 30% stake in the company, founded by two people he worked with at PayPal.
Sequoia was their first investor – I took a board seat and helped grow the business.
Joins Sequoia Capital
Botha joins the venture capital firm:
Sequoia invests in very early stage companies and helps them blossom.