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  • Groq's $6.9B Valuation in the AI Chip Race, Jack Altman Raises $275M Fund, Noble Mobile Rings In — as Fed Cuts Rates

Groq's $6.9B Valuation in the AI Chip Race, Jack Altman Raises $275M Fund, Noble Mobile Rings In — as Fed Cuts Rates

AI chips, new VC firepower, and consumer mobile take the spotlight — alongside the Fed’s first rate cut of 2025.

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Your dose of daily dealflow, essential VC & tech trends to know. The biggest moves in venture, all in one place. Celebrating startups, founders, and funders.

🧑‍🍳 Let’s get right into it…

Groq locks $750M at $6.9B valuation, surging ahead in the AI chip wars.

💸 Alt Capital, Jack Altman’s new VC shop, raises a $275M fund in just one week.

📞 Noble Mobile, Andrew Yang–backed budget carrier, secures $10.3M to reward users for unused data.

🛠️ Divergent lands $290M at $2.3B valuation to expand AI + 3D-printed manufacturing for defense & autos.

📱 Nothing grabs $200M at $1.3B valuation to scale its design-first consumer tech.

🏦 Fed cuts rates 25 bps, sparking the largest FOMC prediction market in history.

🧑‍🚀 Top 3 Deals You Can’t Miss

1️⃣ Groq – $750M at $6.9B valuation, doubling down on AI chips for high-performance compute.

2️⃣ Alt Capital – $275M fund raised by Jack Altman in one week, fueling the next wave of startups.

3️⃣ Noble Mobile – $10.3M for Andrew Yang–backed budget carrier rewarding users for unused data.

🧠 Dopamine Dealflow

🌳 Series B+ & Growth

  • Airia (Atlanta, GA) – $100M funding; enterprise AI security and orchestration platform.

  • Invisible Technologies (NYC, NY) – $100M growth funding; AI software platform provider for enterprises.

  • Chestnut Carbon (NYC, NY) – $90M Series B add-on; nature-based carbon removal developer.

  • Vega (NYC, NY) – $65M across Seed + Series A; AI-native security analytics and investigation.

  • CodeRabbit (San Francisco, CA) – $60M Series B; AI code reviews platform.

  • PayNearMe (Santa Clara, CA) – $50M Series E; fintech improving payments for non-commerce businesses.

  • AllRock Bio (Natick, MA) – $50M Series; clinical-stage biotech company.

  • DRUID AI (NYC, NY) – $31M Series C; enterprise-grade AI platform provider.

  • Nofence (Molde, Norway) – $35M+ Series B; virtual fencing technology for livestock.

  • Reserv (NYC, NY) – $16M add-on; tech-enabled third-party administrator (TPA).

  • Enhanced Genomics (Cambridge, UK) – $19M Series A extension; biotech developing 3D multi-omics drug discovery.

🚀 Series A

  • CreatorDB (Los Angeles, CA) – $4.67M Series A; vertical AI infra for influencer marketing.

  • AltrixBio (Lowell, MA) – $5M Series A; biopharma for cardiometabolic diseases.

  • Share One (Austin, TX) – Undisclosed Series A; verified video testimonial platform.

  • Intelligent Legal Solutions (UK) – Strategic investment; ProVision side letter management platform.

🌱 Seed & Early Rounds

  • Eve Security (Austin, TX) – $3M Seed; AI observability + policy enforcement platform.

  • Ordinal (Bentonville, AR) – $1M Seed; AI-powered research assistant for local governments.

  • Trially AI (Kansas City, MO) – $4.7M Seed; AI-first clinical trial recruitment.

  • Hiverge (Cambridge, UK) – $5M Seed; adaptive algorithm provider.

  • Overmind (London, UK) – $6M Seed; predictive change intelligence.

  • Time Atlas (Helsinki, Finland) – €1.8M Seed; private active life tracking app.

🤝 Strategic, M&A & Undisclosed

  • RevOpsis Therapeutics (Seattle, WA) – Strategic investment from ExSight Ventures; retinal disease therapies.

  • Pegasus Tech Ventures (Silicon Valley, CA) + Mitsubishi Materials (Tokyo, Japan) – Strategic collaboration on innovation initiatives.

  • Cancer Focus Fund (Houston, TX) – Advisory board appointments (David R. Epstein, Michael A. Margolis).

📈 IPOs / Direct Listings / Issuances / Block Trades

  • MMC Port Holdings (Malaysia) – in talks to raise $2B at a $7B valuation; could be Malaysia’s biggest IPO since 2012.

  • Chery Automobile (China) – seeking $1.2B via Hong Kong IPO; automaker expanding globally.

  • Mindray Bio-Medical Electronics (China) – preparing $1B Hong Kong listing; medical devices giant picked banks.

  • Netskope (US) – raised IPO offering to $908M at a $7.3B valuation; cybersecurity scale-up.

  • Merdeka Gold Resources (Indonesia) – eyeing $284M IPO; could mark Indonesia’s largest listing this year.

  • Orion Breweries (Japan) – set to raise $183M in IPO priced at the top of the range; Carlyle-backed beer maker.

  • Oman India Fertilizer (Oman) – begun preparing for IPO; fertilizer producer exploring local listing.

💸 VC Funds Raised & Raising

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📚 Read of the Day

🚫 China Bans Nvidia’s AI Chips

Beijing just dropped a bomb on the global AI race. China officially banned imports of Nvidia’s advanced AI chips, escalating the U.S.–China tech rivalry and threatening to reshape supply chains for GPUs that power everything from LLMs to autonomous vehicles.

The Strategy

China’s ban is a direct response to U.S. export controls. By shutting Nvidia out, Beijing is signaling it will double down on building its own domestic AI hardware ecosystem — and reduce reliance on U.S. tech giants.

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Domestic chipmakers like Huawei and Biren are poised to benefit, potentially accelerating investment and state support for homegrown GPU alternatives. For Nvidia, which counts China as a key revenue market, the move could dent future growth.

Why It Matters

This is a wake-up call for VCs and founders betting on AI infrastructure: geopolitics isn’t background noise, it’s center stage. A fragmented AI hardware world could force startups to optimize for different chip ecosystems depending on where they operate.

📰 News You Don’t Want To Miss

🏦 Fed cuts rates by 25 bps — first move of 2025 — Polymarket volume tops $200M, the largest FOMC market in history.

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OVER AND OUT, BACK TO THE GRIND ⚙️

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