E133: Revolut revenue +95% yoy; Apple, Alibaba AI models on Hugging Face; Groq wins Saudi Aramco deal; Apple joins OpenAI board; Klarna wins Adobe deal; Chime acquires Salt Labs; xAI announces new AI models; $300m for Thiel’s The Enhanced Games; Kapoor ne

Send us Fan Mail Pre-IPO stock valuations = www.x.com/aarongdillon (see pinned post) Pre-IPO stock index fact sheet = www.agdillon.com/index 00:07 | Revolut revenue +95% yoy - UK online bank - $553m 2023 pre-tax revenue vs -$32m 2022 - $2.2b 2023 revenue, +95% vs 2022 ($1.1b) - $638m 2023 interest income vs $106m 2022 - $638m 2023 customer loan book vs $260m 2022 - 45m customers as of Jun 2024, 12m added in 2023 - $23b secondary market valuation - Out for a $40b primary round now, +75% vs secondary valuation 01:30 | Chime acquires Salt Labs - US online bank - Acquired Salt Labs, employee rewards platform - Chime Enterprises will focus on driving deposits and payment volumes through employer relationships - $6.6b secondary market valuation, -74% vs its Sep 2021 last round 02:32 | xAI announces new AI models - Elon Musk AI large language model biz - Grok 2 launching Aug 2024 - Grok 3 launching Dec 2024 - Grok 3 to be trained on 100,000 Nvidia H100 GPUs - xAI has exclusive access to X/Twitter real-time date, a huge differentiator - $23.8b secondary market valuation, flat from its May 2024 round 03:37 | Apple joins OpenAI board - AI large language model biz (ChatGPT) - ChatGPT will power Apple Siri - Phil Schiller, head of Apple App Store, will observe at OpenAI board meetings - $104b secondary market valuation, +21% vs its Apr 2024 round 04:20 | $300m for Thiel’s The Enhanced Games - The Enhanced Games is Olympics + performance enhancing drugs - Peter Thiel is an investor - Raising $300m in debt, equity … valuation not disclosed - 10 sports; freestyle swimming, 100m dash - International Olympic Committee doesn’t approve (naturally) 05:12 | Klarna wins Adobe deal - Payments and consumer credit company - Klarna buy now pay later product offered to Adobe Commerce merchants - 85% of merchants noted an increase in BNPL usage at online checkouts in 2023 - Other Klarna customers = Away, Uber, and Expedia - $10.7b secondary market valuation, +60% vs its Jul 2022 round 06:13 | Kapoor new CPO at CoreWeave - AI cloud provider - Chetan Kapoor now chief product officer - Kapoor was previously at Amazon Web Services - $19.8b secondary market valuation, +4% vs its May 2024 round 07:17 | Apple, Alibaba AI models on Hugging Face - AI developer solutions platform - Apple adds 20 AI models, 4 data sets to Hugging Face - Alibaba Qwen models now 3 of top 10 on Hugging Face LLM Leaderboard - Hugging Face is the go to platform for AI developers - $5.4b secondary market valuation, +20% vs its Aug 2023 round 08:13 | Groq wins Saudi Aramco deal - AI chip and cloud service provider - Huge Saudi Aramco deal win - 70,000 AI developers registered, 19,000 AI applications running - Groq LPUs for inference (vs Nvidia GPUs for training) - LPUs faster responses, lower electricity use - 42,000 LPUs in 2024, 1.5 million LPUs by Dec 2025 - $2.8b secondary market valuation, +147% vs its Feb 2024 round - Note: Groq currently closing primary round at $2.5b 09:33 | Pre-IPO +0.29% for week, +62.29% for last 1yr - Up week: Ramp +5.7%, Revolut +4.1%, Hugging Face +3.5%, CoreWeave +2.8%, SpaceX +2.8% - Down week: Deel -2.7%, eToro -2.6%, Databricks -2.2%, Wiz -2.1%, Notion -1.4% - Top valuations: ByteDance $285b, SpaceX $194b, OpenAI $104b, Stripe $79b, Databricks $44b 10:12 | 2024 Pre-IPO Stock Vintage Index week performance - www.agdillon.com/index for fact sheet pdf - 2024 Vintage Index top contributors since inception: Rippling +107%, Anduril +56%, Revolut +55%, Klarna +45%, Epic Games +37% - Key metric averages for all Vintage Indexes 5 years old or older… 440% cumulative return since inception 61% realized, distributed to investors 5.40 TVPI; 3.31 DPI, 2.09 RVPI 4.1 years to return the fund