In a massive AI consolidation, NVIDIA is buying Poolside for $12 billion. An investor letter reveals the startup had 'no choice' after failing to raise the cash needed for GPUs, a stark warning on the capital intensity of the AI arms race.
The tape The Twenty Minute VC (20VC) · Aug 27
“We're going to start with the model layer where Nvidia is paying $6 billion to license pool sides model factory and investing $1 billion more at a $12 billion pre money valuation, moving 109 engineers over to Nemo Tron to help build it.”
The conflict with Iran is escalating as oil prices spike to their highest since May. The US strike came in retaliation for attempted attacks on a Navy warship.
Money For the Rest of Us · Bond Market Chaos: Why Interest Rates Keep Rising and What to Do About ItAug 26
The U.S. national debt has rocketed past $40 trillion, quadrupling since 2010. One analyst warns the accelerating debt, war headlines, and market volatility signal 'desperation by debt-strapped governments.'