Sequoia Capital, which started backing OpenAI in 2021, is now backing a rival in more than one way: Elon Musk's xAI. We scooped the details of the cash haul, soon to close, last night:

theinformation.com/articles/musks…

Talk about cash money: Elon’s Musk xAI is close to having billions of dollars, $6 billion, more in its coffers to make its chatbot Grok a more fearsome competitor to OpenAI’s ChatGPT.
theinformation.com/articles/musks…

xAI’s Cash Haul: Musk’s year-old startup is in the final stretch of raising $6 billion at a valuation of $18 billion from investors including Sequoia.

theinformation.com/articles/musks…

From natasha mascarenhas, Becky Peterson and Margaux MacColl.

Scoop: Elon Musk’s xAI is nearing a deal to close $6 billion at an $18 billion valuation. Sequoia among investors to participate in the financing event.

theinformation.com/articles/musks…

w/ Becky Peterson & Margaux MacColl

If you too are overwhelmed by the new album, start here

1. Down Bad
2. The Black Dog
3. Florida!!!
4. Clara Bow
5. So Long, London

Software companies (and their VCs) will be closely watching Rubrik's IPO on Thurs.

It has brought cybersecurity growth to a sleepy, crowded corner of the data backup market.

Details on their forecasts, roadshow pitch & investor convos herein:
theinformation.com/articles/insid…

Very insightful article by natasha mascarenhas The Information on SPVs raised for AI deals. Particularly rise of secondary SPVs! 🧐 theinformation.com/articles/how-i…

As the Bytedance saga drags on, some investment firms have sold their holdings, while others are in a waiting game. This week in Dealmaker w/ Laura Mandaro:

theinformation.com/articles/byted…

🌶️🌶️🌶️

Special purpose vehicles have become such a hot way to get stakes in OpenAI and Anthropic that some managers are pitching SPVs in other SPVs.

theinformation.com/articles/how-i…

By natasha mascarenhas

Great to catch up with natasha mascarenhas for her take on the week in tech, from Amazon to Dude Perfect. Catch our news roundup here:
youtu.be/Ew2h0MnzQ7k?si…

Just wrapped up 60 days of no alcohol!

Even going from only having a few drinks, once or twice a week, to not a drop of alcohol for two months, has made such a difference in my mood and fitness. Weekends feel stronger and longer. And honestly living in SF made it much easier.

The only tech twitter thread that matters today:

My column last week 🤝 this week's news cycle

New: Major tech investment firm, Coatue is leading talks to invest $200M in HR tech startup Rippling at a $13.5B valuation, natasha mascarenhas reports. There'll also be a secondary sale of $670M worth of shares held by employees and early investors.
theinformation.com/briefings/coat…