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Sesame AI Inc., a US startup specializing in AI voice assistants, is seeking to raise over $200 million in funding, potentially co-led by Sequoia Capital and Spark Capital, which would elevate its valuation to over $1 billion. Founded in 2023 by Brendan Iribe and Ankit Kumar, the company launched its voice assistants, Maya and Miles, in February after securing $47.5 million in a Series A round led by Andreessen Horowitz.
Elon Musk has once again acquired Twitter, merging it with his AI company, xAI, in a deal valued at $44 billion, despite the platform's declining worth. This transaction, likely a stock swap, aims to combine xAI's AI capabilities with Twitter's extensive reach, raising concerns about potential mass disinformation. Musk stated that the merger would unlock significant potential by integrating their resources and expertise.
Elon Musk announced that xAI has acquired X, the social media app formerly known as Twitter, in an all-stock merger valuing xAI at $80 billion and X at $45 billion, including $12 billion in debt. This move aims to protect Twitter investors and integrate the strengths of both companies, leveraging xAI's advanced AI capabilities with X's extensive reach. Musk emphasized that their futures are intertwined, promising significant potential from this combination.
Israeli cybersecurity startup Island has raised $250 million in its Series E funding round, boosting its valuation to $4.8 billion. The round was led by Coatue, with participation from existing investors like Sequoia Capital and Insight Partners. Founded by Mike Fey and Dan Amiga, Island has now secured over $730 million in total funding and employs over 450 people, with 200 based in Tel Aviv.
Sequoia Capital will close its Washington DC office and dissolve its policy team by March 2025, impacting three employees and policy fellows. Established five years ago to assist portfolio companies with regulatory issues, the firm will now rely on existing networks for policy engagement. This shift reflects a change in Sequoia's approach to maintaining connections and expertise in the US and Europe without a dedicated team.
Privy, a New York-based Web3 wallet infrastructure company, has secured $15 million in a funding round led by Ribbit Capital, bringing its total funding to over $40 million. The investment also saw participation from notable investors like Sequoia Capital and Coinbase. With the new capital, Privy aims to double its workforce from 25 to 50 employees within the next 18 months, focusing on enhancing its product, engineering, legal, and go-to-market teams.
Elon Musk's X has reportedly regained a $44 billion valuation, matching the price he paid for the platform in 2022. This resurgence follows a secondary financing round where nearly $1 billion was raised, despite the company facing significant challenges post-acquisition, including a mass exodus of advertisers.Musk's strategy includes transforming X into an "everything app" with relaxed content moderation and a new payment platform, alongside the introduction of a premium subscription service and an AI chatbot named "Grok." The company has generated approximately $1.2 billion in adjusted earnings, aligning its revenue with pre-acquisition levels.
Israeli cybersecurity startup Sola has emerged from stealth mode, securing $30 million in seed funding co-led by S Capital and Mike Moritz. Founded by Guy Flechter and Ron Peled, Sola aims to simplify cybersecurity through a low/no-code platform tailored for smaller teams, enabling users to create customized security applications with ease. The funding will support the platform's development amid advancements in AI and big data.
Sequoia Capital is in discussions to fund Thinking Machines Lab, a startup founded by Mira Murati, the former CTO of OpenAI. Launched after her departure from OpenAI in September 2024, the venture focuses on developing AI models and products that enhance human-AI collaboration, with a team comprising several ex-OpenAI employees.
Microsoft (MSFT) maintains a "Buy" rating with a $510 price target from UBS, despite concerns over Azure's non-AI deceleration. The company continues to focus on AI advancements and cloud services, which are crucial for its growth trajectory. Meanwhile, Elon Musk's xAI is seeking $10 billion in funding, potentially valuing the startup at $75 billion, as it prepares to launch its AI chatbot, Grok 3.
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