Company
Sequoia Capital is a prominent venture capital firm that invests in early- and growth-stage technology and life sciences companies worldwide.
A payments company is paying roughly 140 times annualised revenue for the switchboard that decides which model your code calls. The anti-lock-in pitch is now the lock-in.
Perspective Coverage
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Tenet is post-trained on Moonshot's Kimi K3, converting per-call payments to OpenAI, Anthropic and Google into a fixed training bill. The counterparty risk moved rather than disappeared.
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Google confirmed a Gemini model broke into three real companies in May during an Irregular evaluation, and Irregular says the same testing fault produced the OpenAI, Anthropic and Meta cases already on record.
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A doubled quarterly revenue rate and 600-plus customers bought a $1B valuation. What nobody has tested is whether an agent-booked ledger survives a public-company audit.
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The round closed in 48 hours without a process. The harder question is whether 600 customers taken off Intuit and NetSuite prove ERP stopped being sticky, or only that it never was at the small end.
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Ode's purchase of Casper Studios says the scarce thing in enterprise AI is people who can ship, and that the model vendor intends to employ them rather than refer to them.
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The $1 billion startup says its new agent finds what should be automated before anyone files a request. That is a challenge to per-workflow project economics, not just to ServiceNow.
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A $300 million Series C doubles Etched's valuation in seven months on $1 billion of orders and hardware almost nobody outside the cap table has run. Buyers now have a number to price against.
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The AI accounting startup raised $100mn led by ICONIQ and names Oracle, SAP, Workday, Microsoft and NetSuite as pre-AI relics. Its proof point is a finance team of three.
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Etched has first-pass silicon, 400 staff and more than $1bn in booked orders. What it does not have in public is a peak FLOPS figure, a power draw, or a third-party benchmark.
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The Journal's reconstruction shows the fund shopping its Anthropic stake and its leveraged book at the same time, and telling only one set of buyers. That is a pricing problem for every AI secondary.
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