Revealed: Sequoia Capital has written down the value of its stake in semiconductor startup Graphcore, which was last valued at $2.8bn, to zero https://t.co/6IZKRuKIem This is good for sambanova, groq, cerebras or tenstorrent if they can survive. Jensen is laughing his ass off right now.
Crazy to even think that this is not just widespread problem in private companies but also for public companies. Countless spacs ipo’d during peak bubble are now close to 0. Famous among them were open door, skillz, hyliion, next door. Even non spac companies like pltr, Coinbase, upstart had reached insane valuation. Stock market is highly unregulated
This was long time coming. Sambanova next?
Sambanova just hired a new CRO and Cloud VP.. Pushing to get acquired?
https://www.ft.com/content/9a82d54d-3b21-46b1-8bd0-7d767db33d96
They could get some bailout from UK govt
How is this good for sambanova and groq and others? I think it is pretty bad.
This is a widespread issue of overhyped and overvalued startups