We've raised $200M at a $5B valuation to scale self-improving software development in the enterprise. The round brings our total funding to over $400M and more than triples our $1.5B valuation from April.↗

The world needs far more software than it can build. Cognition exists to change that. We’ve just raised over $2B at a $48B valuation, led by a16z, Accel, Founders Fund, General Catalyst, and Avenir. Since our round in May, run-rate revenue has grown from $492 M to almost $900 M…↗

AI data labeling company @AfterQuery is now valued at $3.2 billion, sources say, 10xing its valuation since April. That would make it the fastest YC company to go from inception -> unicorn. Oh, and its founders are 22 and 23 years old. forbes.com/sites/annatong…↗

We've raised $700M at a $21B valuation from Jane Street, Kleiner Perkins, Sequoia, A16Z, Peter Thiel, BCV, and Blackstone. We're also excited to share that we've shipped our first rack to Jane Street.↗

Late night scoop! Cognition is in early talks for a new funding round at a $40B + valuation. The AI coding startup's annualized revenue run rate is now approaching $1B, sources tell me... doubled from three months ago, when Cognition raised at a $26B valuation👇↗

We’ve raised $300M in Series C funding at a $10.3B valuation from Sequoia, Andreessen Horowitz, Jane Street, Argo, and SK Hynix. Our mission is to run the world's inference. This round accelerates production of our inference clusters. We've opened an 80,000-sqft, 10-MW facility…↗

Why is it that the companies with the highest gross margins and zero marginal costs are also, as a group, consistently unprofitable? It just seems odd to me. Over the past few years, one hypothesis I have can be summarized as follows: "Your marginal advantage is inversely corr…↗

Valuation matters far, far less than the decision of whether to invest or not. The spread between bargain and outrageous startup valuations can't be more than 5x, in a world where the best investments can return 1000x.↗

Founder 1: Runs startup for five years. Sells for ~$100M. Makes $30M. Founder 2: Running startup for ten years (and counting). Valued at ~$1B. Founder shares valued at $30M. Which founder would you rather be? /🧵↗

When buying a business, you want actual cash flows to tie to the reported financials of the company. If the actual flows of cash differ materially from the reported numbers, you'll want to dig in. One exercise to evaluate this uses a tool called a 'cash proof template'↗