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- Mistral AI Hits $6B - A rare win for the French
Mistral AI Hits $6B - A rare win for the French
Good Afternoon! Interesting things are happening in the private and public markets. Mistral secures €600 million, boosting its valuation to nearly €6 billion. Databricks projects $2.4 billion in mid-year revenue. Apple surpasses Microsoft as the world's most valuable company. The SEC settles with bankrupt Terraform Labs for $4.47 billion.
TL;DR
Mistral secures €600mn funding as valuation soars to almost €6bn
Databricks tells investors annualized revenue will reach $2.4 billion at midway point of year
Apple overtakes Microsoft as world's most valuable company
SEC reaches $4.47 bln settlement with now-bankrupt crypto firm Terraform Labs
Mistral secures €600mn as valuation soars
Mistral AI, a Paris-based start-up, has raised €600 million, tripling its valuation to nearly €6 billion since December. Led by General Catalyst, the funding includes existing investors like Lightspeed and Andreessen Horowitz. Launched in mid-2023, Mistral challenges OpenAI with its open-source AI systems. The company plans to scale operations and computing resources, employing 60 staff across France, the US, and the UK.
Databricks tells investors annualized revenue will reach $2.4 billion
Databricks announced that its annualized revenue is projected to reach $2.4 billion by mid-2024, reflecting a 60% year-over-year increase. This growth stands out amid a challenging software market. The company, valued at $43 billion, continues to expand its client base and invest heavily in research and development. Databricks has also been enhancing its data warehouse product and recently acquired Tabular for over $1 billion to optimize data processing.
Apple overtakes Microsoft
Apple reclaimed the title of the world's most valuable company, surpassing Microsoft with a $3.29 trillion valuation. Its stock surged nearly 4% after unveiling AI-enhanced features, boosting optimism for a significant iPhone upgrade cycle. This move addressed concerns about Apple's AI capabilities, contributing to a 12% rise in shares for 2024.
SEC reaches $4.47 bln settlement with now-bankrupt crypto firm Terraform Labs
Terraform Labs settled with the SEC for $4.47 billion after being found liable for defrauding investors in the collapse of TerraUSD and Luna tokens. The settlement, requiring court approval, includes $4.05 billion in disgorgement and $420 million in fines. Much will be treated as an unsecured claim due to Terraform's bankruptcy.
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Until next week.
Cheers,
Noel Moldvai