Good Morning! The AI boom is alive and well (as if you expected anything else). Perplexity AI continues to shine, with SoftBank's major investment turning heads. Meanwhile, OpenAI is loosening its secondary sale policies - Something we all love. While the AI craze continues…our poster child, SpaceX, is literally going to remove ISS from space by 2030. We live in some wild times.

TL;DR

• SoftBank to Invest in Perplexity AI at $3B Valuation

• SpaceX Wins $843M NASA Contract to De-orbit ISS by 2030

• OpenAI Revises Stock Sale Policies for Fair Employee Treatment

• Accel Targets Rural India for Future Unicorn Investments

SoftBank to invest in Perplexity AI at $3B.

SoftBank's Vision Fund 2 plans to invest $10-$20 million in Perplexity AI, valuing the U.S. search startup at $3 billion. This investment is part of a larger $250 million funding round. Perplexity AI, based in San Francisco, raised $73.6 million in January and serves over 500 million queries annually.

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SpaceX lands ISS De-orbit Contract

NASA has awarded SpaceX an $843 million contract to develop a spacecraft for de-orbiting the ISS in 2030. The new U.S. Deorbit Vehicle, different from SpaceX's Dragon capsule, will ensure the ISS reenters safely, avoiding populated areas. NASA will own and operate the vehicle post-development.

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OpenAI Revises Its Secondary Policies for Employees

OpenAI revised its secondary share sale policies, allowing equal participation for current and former employees. Previously, the company restricted who could sell shares, causing liquidity concerns. The new policy removes provisions for forced equity redemption and includes ex-employees in tender offers. However, current employees are prioritized if offers are oversubscribed.

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Accel Goes Unicorn Hunting in India

Accel is shifting its focus to smaller towns and villages in India, termed "Bharat," seeking future unicorns. Accel sees significant spending power in these areas, estimated over $250 billion. Improved infrastructure, smartphone proliferation, and digital services adoption bolster this move. Despite past failures, Accel believes new strategies tailored to rural markets will yield successful startups.

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More News and Links

AI Chip Startup Etched Captures $120M In Hot Market

Eye On AI: OpenAI Goes On A Buying Spree As AI Looks To Open Up M&A, IPO Markets

German Defence Start-Up Helsing Could Be Valued at $4.5B, Reports FT

Until next week!

-Noel