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- NVIDIA Now Worth $2T: Market Demands New Huang Tattoo
NVIDIA Now Worth $2T: Market Demands New Huang Tattoo
Also Humane experiencing delays and Figure AI raises from big names
NVIDIA earnings are in. They’re good. The AI bull run is scheduled to continue. But, the real question remains: When will Huang unveil a new tattoo in 2024? Meanwhile, Humane reminds us that hardware is hard and some big names invest in a company that builds humanoid robots. I also launched an agency with former Stonks teammates called Distribution and rambled a bit at the end about Reddit, NVIDIA, and Google. Busy Monday. See you out there!
90% of content work is low-leverage. Don’t waste your time. Distribution offers outsourced full-stack content teams for the venture ecosystem.
NVIDIA Announces Financial Results For Fourth Quarter And Fiscal 2024
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.”
Record quarterly revenue of $22.1 billion, up 22% from Q3, up 265% from year ago
Record quarterly Data Center revenue of $18.4 billion, up 27% from Q3, up 409% from year ago
Record full-year revenue of $60.9 billion, up 126%
Humane pushes Ai Pin ship date to mid-April
“It’s likely few are too surprised that Humane’s upcoming Ai Pin has been pushed back a bit, from March to “mid-April,” per a new video from the Bay Area startup’s Head of Media, Sam Sheffer.”
Bezos, Nvidia Join OpenAI in Funding Humanoid Robot Startup (Figure AI)
“Jeff Bezos, Nvidia Corp. and other big technology names are investing in a business that’s developing human-like robots, according to people with knowledge of the situation”
Hot Links
Sandhill Live Schedule
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NEXT WEEK: Universal API Panel
Join us live on Thursday, March 7 at 3 pm EST to learn more about the state of universal API's impact and application across a variety of industries.
We'll be joined by three founders:
Sara Du, CEO @ Alloy Automation
Kurt Lin, Co-Founder & CEO @ Pinwheel
Jeremy Zhang, CEO @ Finch
This event is brought to you in partnership with our friends at Sacra.
NEXT WEEK: [IRL in NYC] PrimeTime VC
It's official, we're hosting PrimeTime VC in person on March 7th 6-8 PM EST at Betaworks in NYC. Click here to learn more and request an invite!
For those unfamiliar, PrimeTime VC is "The Show of Accredited Banter" that will bring a panel of 4 VCs together to battle it out on stage. The most insights gets the most points. You win either way.
ICYMI: Anduril and Defense Tech
Really great conversation with Scott Sanders from Forterra (fka RRAI) and Ross Fubini from XYZ Venture Capital! If you’ve been following the rise of Anduril or have any interest in Defense Tech generally, this is worth a watch.
Check it out below if you missed it!
Brought to you by the same team that grew Stonks and Sandhill Markets from Zero to over 50,000 subscribers
I joined forces with two of my former Stonks teammates to launch Distribution! This service was inspired by our own experience building the Stonks audience from zero to over 50,000 subscribers in a little over a year with no paid marketing.
We learned that regularly creating, distributing, and cataloging relevant content online is the best way to build trust with LPs, founders, clients, and potential customers. BUT 90% of the work that goes into content is low-leverage: Editing, Formatting, Repurposing, Compiling, Posting, etc.
Distribution allows clients to focus on their unique insights and keeps them away from the low-leverage work that’s required to actually share their expertise online consistently. Unlike other more generalized services of this kind, we focus specifically on serving the venture ecosystem.
If you’re a fund, accelerator, syndicate, or VC-backed team who recognizes the power of distribution and wants to do more online, reach out.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f0a1f852-6b62-4a28-8946-8d1a1a4059f4/for_respected_member.png?t=1708960622)
Of equal importance: Dune 2 comes out this week
Letters From The Editor
Misc. (short for miscellaneous)
Thoughts on Reddit, NVIDIA, and Google
First and foremost, looks like we like Reddit at $5B. Poll results:
How do you feel about Reddit generally?
🟩🟩🟩🟩🟩🟩 Bullish. (27)
🟨🟨🟨🟨⬜️⬜️ Not sure. (18)
🟨🟨🟨⬜️⬜️⬜️ Bearish. (16)
On Reddit… Agreed - personally bullish long term. Generally feels like they will remain a pillar of the internet. Not dissimilar from Twitter - I think it would take a lot to screw it up given the network effects. As I mentioned in the last email though, some people already calling for/expecting a higher price than $5B. If the bankers do their jobs correctly, sentiment around price will be much more evenly split. Meaning, if everyone likes it at $5B they’re pricing it too low. At the same time, everybody likes a first-day-feel-good-price-pop (official term) so they may choose to go in conservative.
On NVIDIA… holy hell they’re crushing. The graph is scary, but their results are also hard to argue with. I say scary, because I don’t understand how this price pace can be maintained and I got burned in crypto recently enough to be nervous when a price goes vertical. Meanwhile, they have a monopoly (almost) on what is quickly becoming the oil of the 21st century (compute) and continue to execute. I don’t know how to feel (besides mad that I didn’t years ago).
How do we feel about NVIDIA? |
On Google… hard to watch. Generally it feels like leadership at Google has gotten distracted by things that aren’t building great products. I don’t think they’re going to go away anytime soon given their entrenched services, but the beginning of a long decay seems to loom. If you’re best in class, why would you go work at Google? Plenty of money around to get paid well working elsewhere on similar problems. Maybe they can turn it around, but culture can have a lot of momentum.
How do we feel about Google? |
Talk soon,
Adam
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