This Week in Pre-IPO Stocks

AG Dillon & Co

This Week in Pre-IPO Stocks reports on pre-IPO stock research, trends, trading, and venture capital funds. Visit www.agdillon.com for more.

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#255
April 10 · 19 min
E255: Anthropic $30B revenue, 3x in 3 months!; Perplexity $500M ARR, 2x in 1 month; Revolut $9B in revenue; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:51 - Anthropic Crosses $30B ARR as Revenue Triples in Three Months 01:51 - Anthropic Launches $1B PE Consulting Venture to Monetize Enterprise Adoption 02:47 - OpenAI and Anthropic: Massive Capital Burns, Racing to Break Even 04:51 - Firmus Raises $505M for Next-Gen AI Data Centers Across Australia 05:39 - Perplexity Hits $500M ARR as It Shifts from Search to Autonomous Agents 06:14 - Canva Acquires Two AI Startups to Build End-to-End Marketing Platform 07:14 - Stripe Launches Agentic Commerce Suite to Become the Payment Layer of the AI Era 08:12 - Stripe Powers In-Chat Shopping Inside Microsoft Copilot 09:03 - Databricks Lands Tata Power in Enterprise-Wide AI Platform Adoption 09:58 - Revolut Eyes $9B Revenue and 100M Users as IPO Moves Closer 10:50 - Revolut in Talks to Acquire Turkish Neobank FUPS 11:37 - Anduril Tapped to Build Orbital Interceptors for $185B Golden Dome Program 13:02 - Cursor 3 Launches with Parallel Agents and a Proprietary In-House Model 14:20 - Anysphere Targets $50B-$60B Valuation as Cursor ARR Surpasses $2B 15:15 - Neuralink Targets Hearing Restoration as Clinical Enrollment and Valuation Surge 16:37 - Ramp and Visa Deploy AI Agents to Automate $100B+ in Annual Corporate Spend 17:43 - OpenEvidence Embeds AI Directly into Epic EHR at Mount Sinai's 48,000-Person System 18:48 - Harvey Study Exposes "Mobile AI Gap" as Legal Professionals Preview Mobile App
#254
April 4 · 13 min
E254: SpaceX IPO now at $2.0T; Tether larger vs JPM?!; Supabase 2x to $10B; + more
Send us Fan Mail ** For various reasons ... I used HeyGen to create the video and audio file this week. Text-to-video/audio. I don't like the results. If anyone has tips on how to improve this AI output please reach out. I'm keen to learn here. ** Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:50 - SpaceX Is Targeting the Largest IPO in Stock Market History at $2 Trillion 01:41 - Tether Is One of the Most Profitable Financial Companies Per Employee in the World and Almost Nobody Knows It 02:23 - Supabase Just Doubled Its Valuation to $10 Billion in a Matter of Months 03:03 - 103% Subscription Growth and $1.1B in Bookings: Whoop May Be Done Raising Private Capital 03:49 - Saronic Has a $1.75 Billion Raise, a $392M Navy Contract, and Is Rethinking Warfare at Sea 04:39 - Starcloud Went From Y Combinator to $1.1 Billion Unicorn in Just 17 Months by Putting Data Centers in Orbit 05:39 - Rebellions Raised $650 Million in Six Months and South Korea's AI Chip Contender Is Heading for an IPO 06:30 - Nuclear Power Is Back and Valar Atomics Just Raised $450 Million to Power the AI Industry 07:33 - Medvi Generated $401 Million in Revenue in Its First Year With Two Full-Time Employees 08:25 - Sarvam Is Chasing the Largest Indian AI Fundraise Ever With 22 Languages and 1.4 Billion People 09:16 - OpenAI Is Now the Most Valuable Startup in History After Raising $122 Billion at $852 Billion 10:15 - OpenAI Just Bought TBPN, a $30M Revenue Media Company, and It Is Only Getting Started 10:59 - Anthropic Just Paid $400 Million for an 8-Month-Old Company With Fewer Than 10 People 11:51 - Mistral Just Secured $830 Million From Seven Banks to Build Europe's Own AI Infrastructure 12:51 - ElevenLabs Hit an $11 Billion Valuation and Is Now Taking Aim at Suno and Udio in AI Music NOTE: AG Dillon ("AGD") is not affiliated with Anduril. Anduril may require company approval for purchases (aka transfers). AGD has not been pre-approved by Anduril to purchase their stock. AGD purchases pre-IPO stocks in the secondary market and may gain exposure by directly purchasing the stock (on the company's capitalization table) and/or through a third-party fund (aka special purpose vehicle, or SPV).
#253
March 28 · 15 min
E253: Reflection AI at $25B, +213%; Shield AI’s $12.7 valuation; Physical Intelligence at $11B in 4 months; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:46 - Reflection AI Hits a $25B Price Tag in Nvidia’s Open Model Push 01:42 - Shield AI Lands $1.5B as Valuation Jumps 140% 02:31 - Physical Intelligence Nears $11B Just 4 Months After Its Last Round 03:15 - Harvey Reaches $11B as Legal AI Keeps Scaling 04:02 - Aetherflux Targets $2B as It Pivots to Space Data Centers 04:46 - Granola Reprices to $1.5B as Meeting Notes Become Workflow Software 05:37 - Anthropic Pushes Claude Further Into Computer Use 06:35 - Anthropic Eyes a $60B+ IPO as Soon as Q4 07:31 - Anthropic and Google Line Up a 500 MW Texas Data Center 08:11 - Anthropic Mythos Emerges in a Leak of 3,000 Assets 09:06 - OpenAI Pushes Its Fundraise Past $120B 09:55 - OpenAI Ads Cross $100M ARR in Under 2 Months 10:35 - Databricks Uses Its $5B Raise to Expand Security and M&A 11:29 - Crusoe Signs a 12 GWh Battery Deal for AI Infrastructure 12:18 - Sierra Rebuilds the Customer Service Stack Around Agents 13:11 - Figure AI Brings a Humanoid Robot to the White House 14:03 - Cohere Launches a 2B-Parameter Voice Model for Enterprise AI
#252
March 20 · 14 min
E252: Vast Data $30B valuation, +229%; Kalshi $22B valuation, +2x; Mastercard buys BVNK; Canva signals 2027 IPO; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:49 - Vast Data rockets to $30B after a $1B raise and a +229.7% valuation jump 01:51 - Kalshi hits $22B as revenue reaches $1.5B and monthly volume tops $10B 02:53 - Fal races to $8B with revenue at $400M and growth hitting +100% in months 03:43 - Yotta targets $4B valuation with a $1B capital plan and 30,000+ next-gen GPUs on deck 04:41 - Mastercard acquires BVNK for $1.8B 05:37 - Canva heads toward IPO territory at $47B with $4B revenue and 265M users 06:48 - Unitree files to raise $610M after hitting $248M revenue and #1 humanoid shipments 07:33 - Nvidia’s Huang likes their Lambda, Together AI, and Nscale investments 08:38 - Gecko Robotics lands a $54M Navy award with a $71M ceiling and 18 ships to start 09:31 - Mistral pushes deeper into enterprise with ‘Mistral Forge’ launch 10:33 - OpenAI is folding 3 products into 1 superapp as IPO prep accelerates 11:37 - OpenAI is reorganizing for a $665B compute buildout with a 6GW AMD chip deal 12:48 - Atoms brings Travis Kalanick back with $100M from Uber 13:30 - xAI offers forward deployed engineers as it chases enterprise growth with Shift4 win
#251
March 15 · 25 min
E251: Cursor $50B round, lower vs secondary market; Wiz $32B acquisition closes w/ Google; Moonshot $18B valuation; Nscale $14.6B valuation; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:47 - Cursor’s $50B Round Would Cement AI Coding’s New Heavyweight 01:43 - Wiz Closes $32B Deal with Google; Google’s Biggest Acquisition Ever 02:32 - Moonshot AI’s $18B Ask Shows Chinese AI Valuations Are Repricing Fast 03:34 - Nscale’s $14.6B Valuation Signals Europe’s AI Infra Race Is Scaling Up 05:06 - Legora’s $5.55B Jump Marks a Breakout Moment for Legal AI 06:08 - Alan’s Nears $1B ARR as Europe’s Digital Health Insurer Keeps Repricing Higher 07:12 - Replit’s $9B Valuation Shows Vibe Coding Investors Still Want More 08:01 - Nebius’s $2B Bet Extends Its Grip on AI Infrastructure 08:52 - Gumloop’s $50M Raise Says No-Code AI Agents Are Becoming Enterprise Software 09:52 - Wonderful Hits $2B in Just 13 Months as Global AI Support Rollouts Accelerate 10:45 - Rox Reaches Unicorn Status on an $8M ARR Sales-AI Story 11:36 - Sunday $1.15B Round Shows Embodied AI (Humanoids) Is Still Attracting Premium Capital 12:24 - Thinking Machines Lands 1 GW Nvidia Deal 13:24 - Yann LeCun’s AMI Labs Lands a Record-Scale $1.03B Seed 14:11 - Forethought - AI Service Automation Platform - Acquired by Zendesk 15:05 - Meta Acquires Viral AI-Agent Network Moltbook 15:57 - Eridu $200M Series A Targets a Hidden Bottleneck in AI Infrastructure 17:00 - Mind Robotics Raises $500M as Factory AI Becomes the Next Robotics Battleground 18:03 - OpenAI Buys Promptfoo to Harden Enterprise AI Agents 19:17 - Kraken Partners with Nasdaq to Push Tokenized Equities Closer to Market 20:19 - Anthropic Turns Code Review Into a New Enterprise AI Revenue Lever 21:25 - Anthropic, Blackstone, Hellman Strike AI Consulting JV 22:13 - Lovable Hits $400M ARR With Just 146 Employees 23:02 - Anduril Acquires ExoAnalytics in Defense Space Push 24:25 - Anduril Lands Potentially $20B Army Deal as Revenue Heads Toward $4B
#250
March 6 · 14 min
E250: SpaceX IPO at $1.75T; Anduril $4.3B 2026F revenue; Together $8.5B round; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:47 - SpaceX Eyes the Biggest IPO Ever, $1.75T 01:50 - SpaceX Moves to Wipe Out $17.5B of Debt 02:23 - Anduril New Primary Round at $60B, Secondary Still Trading at $90B+ 03:20 - Anduril’s $4.3B 2026 Revenue Forecast 04:05 - Together AI New Round at $8.5B Post-Money 05:01 - Decagon Closes Employee Equity at $4.5B 05:57 - Eight Sleep Lands at a $1.5B Valuation 06:44 - Cursor $2B Feb 2026 Revenue Run Rate 07:37 - Cursor Wants Agents Working Without Supervision 08:15 - Stripe Wants to Monetize AI Usage 09:15 - Anthropic Revenue Up 100% In Just Last Few Weeks, $20B 09:44 - Arda Is Taking AI to the Factory Floor 10:34 - Epic Forced Google to Cut the Toll 11:30 - OpenAI Revenue at $25B 12:22 - OpenAI New Model GPT-5.4 Pushes the Frontier Again 13:15 - Kraken Gets Fedwire Access, First For Crypto Firm
#249
February 27 · 21 min
E249: TENDERS! Stripe ($159B), Anthropic ($350B), Plaid ($8B); Cerebras files IPO; OpenAI raises $110B; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:51 - Stripe Initiates $159B Tender 01:29 - Stripe Annual Letter Shows Scale and Faster Cohorts 03:16 - Stripe PayPal Optionality Creates a Valuation Spread 04:15 - Plaid Employee Liquidity Up-Round at $8B 05:19 - Saronic Targets Mega-Round at $8.5B 06:18 - Profound Hits $1B at 18-Month Pace 07:35 - Cerebras Reopens IPO Window With $10B Compute Deal 08:29 - Axelera AI Funds Edge Inference Buildout 09:17 - Basis Crosses $1B With Accounting AI Penetration Metrics 10:20 - Anthropic Claude Code Security Turns Reasoning Into AppSec 11:18 - Anthropic Consumer Momentum Accelerates 12:15 - Anthropic Tender Formalizes Late-Stage Liquidity 13:02 - Anthropic Targets Mainframe Modernization With COBOL 13:55 - OpenAI $110B Round at $840B Post-Money Sets New Bar 15:04 - OpenAI Hardware Roadmap Points to 2027 and 2028 16:12 - OpenAI Consultants Push Enterprise Adoption in 2026 17:05 - AMD and Crusoe Use Credit to Accelerate Chip Pull-Through 18:10 - Starlink Drops Prices To Accelerate Growth, Subscribers at 10M 19:37 - Canva Buys Motion and Ad Optimization as Scale Compounds 20:44 - Mistral and Accenture Signal Consultant-Led Distribution
#248
February 21 · 19 min
E248: OpenAI $280B in 2030 revenue! + “buys” OpenClaw; Grafana $9B valuation; World Labs $5B valuation; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:02 - AG Dillon Funds closing on Mar 31, 2026 00:51 - OpenAI Financials $280B revenue target meets $665B cost wall 03:58 - OpenAI “buys” OpenClaw, Steinberger joins OpenAI 04:42 - OpenAI Series C aims to shatter records at $850B post money 05:41 - OpenAI and Tata bet on India with a 100 MW to 1 GW buildout path 06:29 - Grafana’s $9B round talks ride a $400M ARR wave 07:23 - World Labs lands Autodesk and targets a rumored $5B valuation 08:18 - Temporal wants to be the load bearing layer for agent execution 09:31 - Mesh Optical’s $50M Series A targets the chokepoint inside AI data centers 10:43 - Render’s $1.5B valuation is a bet that AI apps need a new runtime 11:40 - Stash acquired by Grab for $425M 13:06 - Physical Superintelligence pitches a physics breakthrough factory with a 20 person team 14:07 - Figma plugs Claude Code into design and risks losing the workflow 15:00 - Anthropic ships Sonnet 4.6 just 12 days after Opus 4.6 15:26 - Stripe’s Bridge wins OCC trust charter signal as stablecoin scrutiny rises 16:37 - Cohere puts 70 plus languages on device with a 3.35B parameter model 17:53 - ElevenLabs turns agent risk into an insurable product at $12.2B secondary 19:05 - Mistral buys Koyeb and adds 16 engineers to harden its compute stack
#247
February 13 · 18 min
E247: OpenClaw … WHAT?!; Anthropic $380B primary closed; Stripe $140B tender; Harvey $11B round; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:15 - OpenClaw Own the Memory File Thesis 02:37 - Anthropic $30B Series G, $380B Valuation 03:35 - Stripe Tender at $140B While Secondary Prints $151B 04:24 - Databricks $5B Equity at $134B and $2B Debt Capacity 05:23 - Harvey Talking $200M at $11B Up 38% From December 06:28 - Runway $315M at $5.3B Up 75% in Under 1 Year 07:37 - Apptronik Series A Reopened to $935M Total 08:32 - Modal Labs Discussed $2.5B Valuation Up 127% vs Recent Series B 09:22 - Gather AI $40M Series B for Warehouse Vision and Drones 10:31 - Simile $100M for AI Digital Twins With Brand Heavy Roster 11:30 - Erebor Bank National Charter and $635M Capital With 12% Requirement 12:45 - MrBeast Beast Industries Buys Fintech Step 13:42 - SpaceX Moon City Under 10 Years and Mars Still on the Roadmap 15:13 - Monaco Launches With $35M Raised for AI and Service Sales Model 16:26 - xAI Reorg Into 4 Areas and Colossus Expands Toward 2GW 17:54 - X Hits $1B ARR From Subscriptions With $3 to $40 Pricing
#246
February 6 · 14 min
E246: SpaceX acquires xAI, now $1.473T in secondary market; Waymo at $116B, +14% vs last round; ElevenLabs at $11B, $330M ARR; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:07 - SpaceX Acquires xAI at a $1.25T Combined Valuation 01:39 - SpaceX Seeks Early Index Inclusion Once Public 02:50 - SpaceX Files for 1M AI Data-Center Satellites 03:37 - Anthropic Lines Up a $350B Employee Tender 04:16 - Anthropic Opus 4.6 Ships With 1,000,000 Tokens and “Agent Teams” for Parallel Work 04:53 - Goldman Uses Anthropic’s Claude for AI Agents 05:49 - Waymo Nears a $16B Round at $110B as Alphabet Writes Most of the Check 06:34 - Cerebras Jumps to $23B Post-Money on a $1B Raise and a 750MW OpenAI Compute Deal 07:15 - ElevenLabs Raises $500M at $11B and Targets a 2x ARR Step-Up 07:59 - Clay’s New Employee Tender - $5B Tender After ARR Hits $100M 08:52 - Lotus Health Raises $35M to Build a Free AI Primary-Care Practice Across All 50 States 09:46 - Goodfire Raises $150M at $1.25B to Make Black-Box Models Debuggable 10:42 - Accrual Raises $75M to Deliver AI to Slower-Adopting Industries/Sectors 11:28 - Fundamental Emerges With $255M and a $1.2B Valuation to Own Structured Data AI 12:33 - OpenAI Launches Standalone Coding App 13:29 - OpenAI Frontier Pitches the Enterprise Agent Control Plane as B2B Revenue Targets 50% of Total Rev
#245
January 30 · 20 min
E245: SpaceX Jun ’26 IPO; OpenAI Q4’26 IPO; Decagon $4.5B Val; Synthesia $4B Val; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:07 - Decagon’s $250M Round Triples Valuation to $4.5B 01:17 - xAI Gets $2B From Tesla After $20B Series E 02:06 - Synthesia Raises $200M at $4B as ARR Targets Hit $200M 03:25 - SpaceX Eyes June 2026 IPO With $50B Raise at $1.5T 03:52 - SpaceX Starship V3 Heads for Mid-March 04:27 - SpaceX Starlink Lands Gulf Air Deal as Fleet Rollout Begins Mid-Year 05:19 - Richard Socher’s Recursive Talks $4B Valuation and Big Compute Spend 06:12 - Ricursive Hits $4B Valuation Two Months After Launch With $300M Series A 07:04 - Automation Anywhere in Talks to Buy C3.AI and Go Public by Merger 08:02 - Harvey Buys Hexus as $8B Secondary Valuation Holds Flat 08:54 - Anduril Plans 5,500-Job Long Beach Buildout as Valuation Jumps 157% 09:49 - Anthropic Brings Slack and Figma Into Claude as Valuation Tops $370B 10:54 - Anthropic Wins GOV.UK Pilot to Build AI Assistant for Job Seekers 11:48 - Anthropic Forecasts $18B Sales This Year, $55B Next, But Pushes Profit to 2028 13:02 - Moonshot’s Kimi K2.5 Upgrades to Omni as Valuation Target Moves Toward $5B 13:53 - OpenAI Preps for Q4 2026 IPO 14:32 - OpenAI’s $100B Raise Takes Shape With Amazon at $50B and SoftBank at $30B 15:17 - OpenAI Launches Prism on GPT-5.2 as Science Usage Hits 8.4M Messages a Week 16:28 - Tether Launches USAT With Anchorage as US Stablecoin Rules Tighten 17:47 - Redwood Upsizes Series E to $425M as Google Joins and Valuation Clears $6B 18:56 - US DOE Cuts Nuclear Rulebook by a Third as Startups Raise $1B+ 19:51 - Perplexity Signs $750M Microsoft Cloud Deal While Keeping AWS Preferred
#244
January 24 · 18 min
E244: Brex acquired by Capital One; ClickHouse raise at $15B; Nvidia invests in Baseten; New OpenAI revenue streams
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:07 - ClickHouse $400M Series D $15B Valuation Langfuse M&A 01:29 - Runpod $120M Run Rate 500K Developers 31 Regions 02:59 - Humans& $480M Seed $4.48B Valuation 3 Months Old 04:03 - Baseten $300M Raise $5B Valuation Nvidia $150M 04:49 - Noveon Magnetics $215M Raise 2,000+ Tons Per Year Target 06:17 - Zipline $600M+ New Funding $7.6B Valuation 2M+ Deliveries 07:34 - Hatch Yelp Acquisition $300M Deal 12x ARR 08:26 - Brex Capital One Acquisition $5.15B Deal $13B Deposits 09:30 - DayOne Data Centers IPO Target Up to $20B 10:14 - World Labs Funding Talks at $5B Potential $500M Balance Sheet Add 11:08 - TikTok US New Entity 50% New Investors 200M US Users 12:42 - Inferact $150M Seed $800M Valuation vLLM Commercialization 13:16 - RadixArk $400M Valuation SGLang Commercial Push 14:07 - Blue Origin TeraWave 6 Tbps 5,408 Satellites Q4 2027 Deployment 15:15 - OpenAI Shopify Checkouts Jan 26 Launch 4% ChatGPT Fee 16:24 - OpenAI API Revenue +$1B ARR in One Month $20B+ Total ARR 16:51 - OpenAI Ads Testing Coming Weeks Go Plan Included 17:31 - OpenAI ServiceNow 3-Year Enterprise Integration
#243
January 16 · 14 min
E243: Cerebras 2.8x valuation to $23B + strikes $10B deal with OpenAI; Skild $14B round; 1X new humanoid robot AI-model; Anthropic drops “Cowork”
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:08 - Cerebras Eyes $23B Post-Money as IPO Nears 00:55 - Cerebras Lands $10B OpenAI Capacity Deal Through 2028 01:29 - Skild’s $1.4B Series C Prices In $14B+ Robot Brain Ambition 02:24 - Temporal Nears $5B in Talks as ARR Tops $100M 03:00 - Parloa Jumps to $3B Valuation After $350M Series D 04:08 - Higgsfield Hits $1.3B After Extending Series A to $130M 05:06 - Torq Reaches $1.2B Valuation With $140M for AI SOC Automation 05:49 - Etched Scores $500M at $5B as Investors Back Specialized Silicon 06:21 - Harmattan Hits $1.4B a Year After Founding on $200M Series B 07:13 - X to Open-Source Its Algorithm as Grok Rates 100M+ Posts a Day 07:55 - Anthropic Ships HIPAA Claude as 22K Banner Clinicians Adopt 08:52 - Anthropic’s Cowork Puts Claude in Your Files With Guardrails and Risk 09:38 - OpenAI Leads Merge Labs Seed as Noninvasive BCI Raises $252M 10:20 - OpenAI Buys Torch for $100M to Build a Unified Medical Memory 11:05 - 1X Holds $10B Valuation as Neo Targets Homes With a World Model 12:00 - ElevenLabs Hits $330M ARR as Growth Pace Accelerates 12:50 - Erebor Raises $350M to Build a Regulated Crypto Bank 13:52 - Replit Talks $400M Round at ~$9B as It Ships AI-Made iOS Apps
#242
January 9 · 19 min
E242: OpenAI raise at $830b; Anthropic raise at $350b; xAI raise at $230b; Databricks raise at $134b; + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:08 - xAI Lands a Massive $20B Round, $230B Valuation 01:22 - xAI Financials Show Hypergrowth Economics With Losses Still Expanding 02:51 - Grok for Business Targets Enterprise Wallet Share With Security and Admin Controls 04:05 - Anthropic Signs Up a $10B Round, $350B Valuation 05:07 - OpenAI Targets a $100B Raise, $830B Valuation 05:51 - OpenAI Pushes Deeper Into Healthcare With ChatGPT Health 06:45 - OpenAI’s New $50B Stock Compensation Program 07:45 - Lambda Lines Up a Pre-IPO Raise, IPO in Next 12 Months 08:43 - Databricks Raises Over $4B, $134B Valuation 09:30 - Figure’s Adcock Launches New AI Lab, Hark, With $100M Personal Capital 10:05 - Lovable Raises $330M, $6.6B Valuation, 267% Step-Up in Five Months 10:58 - OpenEvidence Targets a $12B Valuation on 150M Annualized Ad Revenue and 90 Percent Gross Margins 12:04 - Waymo Explores a $15B Raise With Valuation Talks at $100B 12:48 - Rain Raises $250M at a $1.95B Valuation to Expand Stablecoin Cards Across 150 Countries 13:26 - ServiceNow Buys Armis for $7.75B Cash After a Fresh $6.1B Pre-IPO Mark 14:05 - Cursor Acquires Graphite and Reinforces a $38.5B Secondary Mark 14:56 - Plaud Expands Hardware Line With a $179 NotePin S Ahead of CES 2026 15:51 - Mobileye Buys Mentee Robotics for $900M and Expands the Physical AI Playbook 16:42 - LMArena Reprices to $1.7B and Hits $30M Annualized Consumption in Under Four Months 17:22 - Swap Commerce Raises $100M Six Months After Its $40M Series B 17:51 - Discord Files Confidentially for IPO With Secondaries Pricing at $7B to $8B 18:25 - Commonwealth Fusion Systems Builds a Digital Twin and Targets 19-Magnet Completion This Summer
#241
Dec 12, 2025 · 17 min
E241: SpaceX $800b tender and $1.5 trillion IPO, Disney into OpenAI for $1b, Boom Supersonic jet turbines for data centers, + more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:06 - SpaceX Tender Offer & IPO Plans 00:43 - SpaceX Revenue Outlook 01:54 - Airwallex $330M Raise 02:54 - Disney $1B OpenAI Investment 03:53 - OpenAI Enterprise Adoption Surge 04:54 - OpenAI GPT-5.2 Launch 05:54 - OpenAI Hires Slack CEO as CRO 06:28 - Meta Acquires Limitless 07:50 - Harvey $160M Round 08:44 - Cohere Enterprise Momentum 09:38 - Overtone AI Dating Launch 10:29 - Boom Supersonic Turbine Pivot 11:38 - Revolut Employee Buyback 12:42 - 1X Technologies EQT Deal 13:42 - Port $100M Series C 14:42 - Harness $240M Series E 15:50 - Anthropic $21B Broadcom Orders 16:48 - World Updates App with New Features
#240
Dec 4, 2025 · 38 min
E240: xAI $230B valuation, Databricks $134B valuation; Revolut $75B tender; Wealthfront IPO; raises from Physical Intelligence, Black Forest Labs, Moonshot AI, others
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:06 - Databricks $134B Primary at 32x 2025E Sales 02:20 - Revolut $75B Tender (+56% vs Aug 2025) 04:30 - Physical Intelligence (Pi) $5B Primary (+>2.5x in <1 Year) 06:32 - Black Forest Labs $3.25B Series B (<2 Years Post-Launch) 07:47 - Wealthfront IPO Targeting $2.05B 09:15 - Moonshot AI Nearing $4B Round 10:58 - X-energy $700M Series D; $1.4B in <1 Year 12:44 - Celestial AI Acquired by Marvell for $5.5B 14:31 - Canva Positioning for IPO In Few Years 15:23 - Sierra $10B Valuation at 100x ARR 17:11 - K2 Space Targeting $3B (+~4x YoY) 18:39 - Anthropic Claude Opus 4.5 Launch 21:00 - Anthropic Bun Acquisition For Claude Code 22:58 - Anthropic IPO Preparation for 2026 24:43 - OpenAI Shopping Research Tool 26:24 - OpenAI Investor SoftBank Implies $756B Valuation 26:59 - OpenAI Forecasts 2030 User & Revenue 29:26 - OpenAI + Thrive Holdings Partnership 30:38 - OpenAI Neptune Acquisition 32:14 - Redwood Materials $6B Valuation; 5% Layoffs 33:19 - xAI Targeting $230B Valuation 34:36 - Fleet Space Lithium “District-Scale” Discovery 36:07 - Runway Gen 4.5 Tops Video Arena 37:35 - Vulcan Elements $620M DoD Contract
#239
Nov 21, 2025 · 21 min
E239: AI Giants Surge: Anthropic $350B, xAI $230B, Databricks $130B+, Ramp $32B, Kraken $20B, Kalshi $11B, Suno $2.45B, more
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:08 - Anthropic Mega-Scale Infra + $350B Valuation Surge 01:44 - xAI $15B Raise at $230B Valuation 02:45 - xAI Saudi Arabia 500MW Data Center 03:57 - xAI Grok 5 to be Released in Q1 2026 04:42 - Databricks $130B+ Valuation in Discussion 05:55 - Ramp Hyper-Growth to $32B Valuation 06:47 - Kraken $800M Raise at $20B Valuation 07:51 - Kalshi $1B Raise at $11B Valuation 08:54 - Faire Employee Tender at $5.2B 09:42 - Apptronik $5B Raise for Humanoid Robots 10:44 - Tenstorrent $800M Raise at $3.2B Valuation 11:45 - Function Health $298M Raise at $2.5B Valuation 12:55 - Suno $250M Series C at $2.45B Valuation 13:51 - Bezos Returns as Co-CEO of Prometheus 14:42 - Thinking Machines to Raise $5B 15:27 - Lambda raised $1.5B + Multibillion Microsoft Deal 16:31 - Blue Origin’s New Glenn 9x4 Super-Heavy Rocket 17:29 - Starlink’s New $40 Plan + 10,000 Satellites 18:15 - Starlink Wins Emirates Airlines Fleet Deal 19:10 - Target to join OpenAI ChatGPT Shopping + Enterprise Rollout 20:01 - Perplexity Comet AI Browser Launch
#238
Nov 14, 2025 · 16 min
E238: Thinking Machines eyes $60B valuation; Cursor locks $29.3B valuation; Blue Origin lands first rocket booster; Raises from Clio, Skims, Scribe, WisdomAI, Wonderful
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com 00:00 - Intro 00:07 - Thinking Machines Lab Eyes $50-60B Post-Money Valuation 01:00 - Anysphere (Cursor) $2.3B Raise Triples Valuation to $29.3B 02:14 - Clio (LegalTech) Hits $5B Valuation on $500M Series G 03:00 - Skims Raises $225M at $5B Valuation 04:06 - Scribe’s Workflow Automation Hits $1.3B Valuation 05:24 - WisdomAI Raises $50M Series A 06:20 - Wonderful Raises $100M Series A Only 4 Months Post-Stealth 07:30 - Blue Origin Lands Booster! 08:39 - Anthropic $50B Direct Data Center Build-Out + Europe Expansion 10:45 - OpenAI Chips Act Expansion Push 12:15 - Cerebras Systems Multibillion Guyana Sovereign AI Deal 13:23 - Sweet Security Raises $75M Series B 14:42 - World Labs’ Marble 3D World Model Launches Commercial 15:52 - ElevenLabs Celebrity Voice Deals
#237
Nov 7, 2025 · 13 min
E237: Tether $20b buyback!; Ripple $500m raise at $40b valuation; Crusoe tender at $13b valuation; Anthropic forecasting $70b in annual revenue; SpaceX Starlink at 8m customers; AI legal Harvey raises at $8b val | AG Dillon & Co Pre-IPO Stock Research – N
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. 00:00 - Intro 00:07 - Tether $10B+ Profit Fuels $20B Buyback Ambition 01:05 - Ripple $500M Raise at $40B Valuation Boosts Global Payment Push 01:53 - Decagon Eyes $4-5B Valuation on 100x ARR Multiple 02:38 - Crusoe Tender Implies $13B Valuation (+30%) 03:20 - Google-Wiz $32B Deal (+39%) Clears DOJ 04:09 - Armis $435M Pre-IPO Round at $6.1B (+36%) 04:52 - Harvey Raises $150M at $8B Valuation (+multi-round 2025 surge) 05:34 - OpenAI Revenue Soars … $574.9B Secondary Valuation (+15%) 06:35 - OpenAI 1M Business Customers + 800M Weekly Users 07:25 - OpenAI-AWS $38B Cloud Deal Reshapes Infra Market 07:55 - Lambda + Microsoft Multibillion AI Infra Deal (+90.1%) 08:56 - Gemini Prediction Markets Expand Crypto Derivatives Frontier 09:57 - Perplexity v. Amazon Tests AI Agent Commerce Rules 10:54 - Anthropic $70B revenue + wins Cognizant Deal 12:19 - Epic Games-Google Settlement Redefines App-Store Economics 13:15 - SpaceX Starlink 8M Users >> $446.3B Secondary Valuation (+11.6%)
#236
Oct 31, 2025 · 14 min
E236: Mercor $350M Series C quintuples valuation to $10B amid AI data pivot; OpenAI restructuring to PBC unlocks $40B fundraising at $500B valuation; SoftBank greenlights $22.5B final tranche to OpenAI contingent on PBC shift; OpenAI advances generative m
Send us Fan Mail Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. 00:00 - Intro 00:08 - Mercor $350M Series C Quintuples Valuation to $10B Amid AI Data Pivot 01:47 - OpenAI Restructuring to PBC Unlocks $40B Fundraising at $500B Valuation 03:14 - SoftBank Greenlights $22.5B Final Tranche to OpenAI Contingent on PBC Shift 04:06 - OpenAI Advances Generative Music Tool to Rival Suno in $200B Media Market 05:14 - Poolside $2B Raise at $12B Valuation Backed by Nvidia's $1B Commitment 05:49 - Bending Spoons $270M Raise at $11B Valuation Funds $1.4B AOL Buy 06:56 - Whatnot $225M Series F at $11.5B Valuation Drives Global GMV Doubling 08:08 - Figma $200M+ Weavy Acquisition Boosts AI Media Tools Post-IPO 09:07 - MiniMax M2 Tops Global Open Models in Sovereign AI Push 10:00 - 1X NEO Robot Preorders at $20K Target 2026 Deliveries 11:10 - SpaceX $2B Pentagon Deal Bolsters $11B Starlink Revenue 12:15 - Canva Debuts Foundational Design Model in Affinity Free Shift 13:28 - Grammarly Rebrands to Superhuman with 40M DAU AI Suite

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