E98: Human controls computer with brain via Neuralink, Reddit sells data to AI shop for $60m/yr, China’s Moonshot AI raises $1b, Astera Labs’ IPO at $116m revenue + $4b valuation, SpaceX won $1.8b US military contract in 2021 | Pre-IPO Stock Market Update

This Week in Pre-IPO Stocks

00:09 | Human controls computer with brain via Neuralink
- A robot surgically implanted the Nueralink chip into the human’s brain
- Human can control a computer mouse with just their brain
- $4.2b implied secondary market valuation, +21.2% from last primary round in Nov 2023
01:17 | Reddit sells data to AI shop for $60m/yr
- Filed S-1 for Mar 2024 IPO
- Licensing data for AI training is a new revenue stream
- $804m revenue, $91m net loss in 2023
- 75,000 most active Reddit users are invited to participate in the IPO
- Seeking $5.0b IPO; $5.8b secondary market valuation, -42% from $10b primary round in Aug 2021
03:20 | China’s Moonshot AI raises $1b
- Offers large language model like OpenAI’s ChatGPT to Chinese users
- OpenAI and other US based LLMs are not available in Mainland China
- Founded by renowned researcher Yang Zhilin
- Alibaba, Meituan, Xiaohongshu, HongShan (Sequoia Capital China) participated
04:11 | Astera Labs’ IPO at $116m revenue + $4b valuation
- Manufactures data center server components; Amazon and Microsoft are customers
- 45% increase in revenue 2023 vs 2022
- 2024 revenue projected at $250m to $300m
- IPO is targeted at $4b
05:16 | SpaceX won $1.8b US military contract in 2021
- US intelligence and military contract continue to be a major source of revenue for SpaceX
- Starshield, a military focused satellite internet solution, won a $70m contract in Aug 2023
- SpaceX hires military personnel; e.g. retired Air Force general Terrence O’Shaughnessy
- Jan 2024 tender locked a $180b valuation for SpaceX
06:41 | Pre-IPO +1.06% for week, +0.07% for last 1yr
- Week winners: eToro +24.01%, Rippling +20.27%, Epic Games +15.96%, OpenAI +7.15%, Neuralink +7.15%
- Week losers: Airtable -10.47%, Scale.AI -10.28%, ConsenSys -7.36%, Cohere -3.24%, Canva -3.18%
- Top valuations: ByteDance $284b, SpaceX $184b, OpenAI $102b, Stripe $60b, Databricks $49b lead in current valuation
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