Podcast
This Week in Pre-IPO Stocks
Hosted by AG Dillon & Co · EN
This Week in Pre-IPO Stocks reports on pre-IPO stock research, trends, trading, and venture capital funds. Visit www.agdillon.com for more.
26episodes
Episodes
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E255: Anthropic $30B revenue, 3x in 3 months!; Perplexity $500M ARR, 2x in 1 month; Revolut $9B in revenue; + more
Apr 1000:19:48Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:51 - Anthropic Crosses $30B ARR as Revenue Triples in Three Months01:51 - Anthropic Launches $1B PE Consulting Venture to Monetize Enterprise Adoption02:47 - OpenAI and Anthropic: Massive Capital Burns, Racing to Break Even04:51 - Firmus Raises $505M for Next-Gen AI Data Centers Across Australia05:39 - Perplexity Hits $500M ARR as It Shifts from Search to Autonomous Agents06:14 - Canva Acquires Two AI Startups to Build End-to-End Marketing Platform07:14 - Stripe Launches Agentic Commerce Suite to Become the Payment Layer of the AI Era08:12 - Stripe Powers In-Chat Shopping Inside Microsoft Copilot09:03 - Databricks Lands Tata Power in Enterprise-Wide AI Platform Adoption09:58 - Revolut Eyes $9B Revenue and 100M Users as IPO Moves Closer10:50 - Revolut in Talks to Acquire Turkish Neobank FUPS11:37 - Anduril Tapped to Build Orbital Interceptors for $185B Golden Dome Program13:02 - Cursor 3 Launches with Parallel Agents and a Proprietary In-House Model14:20 - Anysphere Targets $50B-$60B Valuation as Cursor ARR Surpasses $2B15:15 - Neuralink Targets Hearing Restoration as Clinical Enrollment and Valuation Surge16:37 - Ramp and Visa Deploy AI Agents to Automate $100B+ in Annual Corporate Spend17:43 - OpenEvidence Embeds AI Directly into Epic EHR at Mount Sinai's 48,000-Person System18:48 - Harvey Study Exposes "Mobile AI Gap" as Legal Professionals Preview Mobile App
Transcribe →E254: SpaceX IPO now at $2.0T; Tether larger vs JPM?!; Supabase 2x to $10B; + more
Apr 400:13:48Tap to summarizeSend us Fan Mail** For various reasons ... I used HeyGen to create the video and audio file this week. Text-to-video/audio. I don't like the results. If anyone has tips on how to improve this AI output please reach out. I'm keen to learn here. **Invest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:50 - SpaceX Is Targeting the Largest IPO in Stock Market History at $2 Trillion01:41 - Tether Is One of the Most Profitable Financial Companies Per Employee in the World and Almost Nobody Knows It02:23 - Supabase Just Doubled Its Valuation to $10 Billion in a Matter of Months03:03 - 103% Subscription Growth and $1.1B in Bookings: Whoop May Be Done Raising Private Capital03:49 - Saronic Has a $1.75 Billion Raise, a $392M Navy Contract, and Is Rethinking Warfare at Sea04:39 - Starcloud Went From Y Combinator to $1.1 Billion Unicorn in Just 17 Months by Putting Data Centers in Orbit05:39 - Rebellions Raised $650 Million in Six Months and South Korea's AI Chip Contender Is Heading for an IPO06:30 - Nuclear Power Is Back and Valar Atomics Just Raised $450 Million to Power the AI Industry07:33 - Medvi Generated $401 Million in Revenue in Its First Year With Two Full-Time Employees08:25 - Sarvam Is Chasing the Largest Indian AI Fundraise Ever With 22 Languages and 1.4 Billion People09:16 - OpenAI Is Now the Most Valuable Startup in History After Raising $122 Billion at $852 Billion10:15 - OpenAI Just Bought TBPN, a $30M Revenue Media Company, and It Is Only Getting Started10:59 - Anthropic Just Paid $400 Million for an 8-Month-Old Company With Fewer Than 10 People11:51 - Mistral Just Secured $830 Million From Seven Banks to Build Europe's Own AI Infrastructure12:51 - ElevenLabs Hit an $11 Billion Valuation and Is Now Taking Aim at Suno and Udio in AI MusicNOTE: AG Dillon ("AGD") is not affiliated with Anduril. Anduril may require company approval for purchases (aka transfers). AGD has not been pre-approved by Anduril to purchase their stock. AGD purchases pre-IPO stocks in the secondary market and may gain exposure by directly purchasing the stock (on the company's capitalization table) and/or through a third-party fund (aka special purpose vehicle, or SPV).
Transcribe →E253: Reflection AI at $25B, +213%; Shield AI’s $12.7 valuation; Physical Intelligence at $11B in 4 months; + more
Mar 2800:15:11Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:46 - Reflection AI Hits a $25B Price Tag in Nvidia’s Open Model Push01:42 - Shield AI Lands $1.5B as Valuation Jumps 140%02:31 - Physical Intelligence Nears $11B Just 4 Months After Its Last Round03:15 - Harvey Reaches $11B as Legal AI Keeps Scaling04:02 - Aetherflux Targets $2B as It Pivots to Space Data Centers04:46 - Granola Reprices to $1.5B as Meeting Notes Become Workflow Software05:37 - Anthropic Pushes Claude Further Into Computer Use06:35 - Anthropic Eyes a $60B+ IPO as Soon as Q407:31 - Anthropic and Google Line Up a 500 MW Texas Data Center08:11 - Anthropic Mythos Emerges in a Leak of 3,000 Assets09:06 - OpenAI Pushes Its Fundraise Past $120B09:55 - OpenAI Ads Cross $100M ARR in Under 2 Months10:35 - Databricks Uses Its $5B Raise to Expand Security and M&A11:29 - Crusoe Signs a 12 GWh Battery Deal for AI Infrastructure12:18 - Sierra Rebuilds the Customer Service Stack Around Agents13:11 - Figure AI Brings a Humanoid Robot to the White House14:03 - Cohere Launches a 2B-Parameter Voice Model for Enterprise AI
Transcribe →E252: Vast Data $30B valuation, +229%; Kalshi $22B valuation, +2x; Mastercard buys BVNK; Canva signals 2027 IPO; + more
Mar 2000:14:14Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:49 - Vast Data rockets to $30B after a $1B raise and a +229.7% valuation jump01:51 - Kalshi hits $22B as revenue reaches $1.5B and monthly volume tops $10B02:53 - Fal races to $8B with revenue at $400M and growth hitting +100% in months03:43 - Yotta targets $4B valuation with a $1B capital plan and 30,000+ next-gen GPUs on deck04:41 - Mastercard acquires BVNK for $1.8B05:37 - Canva heads toward IPO territory at $47B with $4B revenue and 265M users06:48 - Unitree files to raise $610M after hitting $248M revenue and #1 humanoid shipments07:33 - Nvidia’s Huang likes their Lambda, Together AI, and Nscale investments08:38 - Gecko Robotics lands a $54M Navy award with a $71M ceiling and 18 ships to start09:31 - Mistral pushes deeper into enterprise with ‘Mistral Forge’ launch10:33 - OpenAI is folding 3 products into 1 superapp as IPO prep accelerates11:37 - OpenAI is reorganizing for a $665B compute buildout with a 6GW AMD chip deal12:48 - Atoms brings Travis Kalanick back with $100M from Uber13:30 - xAI offers forward deployed engineers as it chases enterprise growth with Shift4 win
Transcribe →E251: Cursor $50B round, lower vs secondary market; Wiz $32B acquisition closes w/ Google; Moonshot $18B valuation; Nscale $14.6B valuation; + more
Mar 1500:25:16Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:47 - Cursor’s $50B Round Would Cement AI Coding’s New Heavyweight01:43 - Wiz Closes $32B Deal with Google; Google’s Biggest Acquisition Ever02:32 - Moonshot AI’s $18B Ask Shows Chinese AI Valuations Are Repricing Fast03:34 - Nscale’s $14.6B Valuation Signals Europe’s AI Infra Race Is Scaling Up05:06 - Legora’s $5.55B Jump Marks a Breakout Moment for Legal AI06:08 - Alan’s Nears $1B ARR as Europe’s Digital Health Insurer Keeps Repricing Higher07:12 - Replit’s $9B Valuation Shows Vibe Coding Investors Still Want More08:01 - Nebius’s $2B Bet Extends Its Grip on AI Infrastructure08:52 - Gumloop’s $50M Raise Says No-Code AI Agents Are Becoming Enterprise Software09:52 - Wonderful Hits $2B in Just 13 Months as Global AI Support Rollouts Accelerate10:45 - Rox Reaches Unicorn Status on an $8M ARR Sales-AI Story11:36 - Sunday $1.15B Round Shows Embodied AI (Humanoids) Is Still Attracting Premium Capital12:24 - Thinking Machines Lands 1 GW Nvidia Deal13:24 - Yann LeCun’s AMI Labs Lands a Record-Scale $1.03B Seed14:11 - Forethought - AI Service Automation Platform - Acquired by Zendesk15:05 - Meta Acquires Viral AI-Agent Network Moltbook15:57 - Eridu $200M Series A Targets a Hidden Bottleneck in AI Infrastructure17:00 - Mind Robotics Raises $500M as Factory AI Becomes the Next Robotics Battleground18:03 - OpenAI Buys Promptfoo to Harden Enterprise AI Agents19:17 - Kraken Partners with Nasdaq to Push Tokenized Equities Closer to Market20:19 - Anthropic Turns Code Review Into a New Enterprise AI Revenue Lever21:25 - Anthropic, Blackstone, Hellman Strike AI Consulting JV22:13 - Lovable Hits $400M ARR With Just 146 Employees23:02 - Anduril Acquires ExoAnalytics in Defense Space Push24:25 - Anduril Lands Potentially $20B Army Deal as Revenue Heads Toward $4B
Transcribe →E250: SpaceX IPO at $1.75T; Anduril $4.3B 2026F revenue; Together $8.5B round; + more
Mar 600:14:07Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:47 - SpaceX Eyes the Biggest IPO Ever, $1.75T01:50 - SpaceX Moves to Wipe Out $17.5B of Debt02:23 - Anduril New Primary Round at $60B, Secondary Still Trading at $90B+03:20 - Anduril’s $4.3B 2026 Revenue Forecast04:05 - Together AI New Round at $8.5B Post-Money05:01 - Decagon Closes Employee Equity at $4.5B05:57 - Eight Sleep Lands at a $1.5B Valuation06:44 - Cursor $2B Feb 2026 Revenue Run Rate07:37 - Cursor Wants Agents Working Without Supervision08:15 - Stripe Wants to Monetize AI Usage09:15 - Anthropic Revenue Up 100% In Just Last Few Weeks, $20B09:44 - Arda Is Taking AI to the Factory Floor10:34 - Epic Forced Google to Cut the Toll11:30 - OpenAI Revenue at $25B12:22 - OpenAI New Model GPT-5.4 Pushes the Frontier Again13:15 - Kraken Gets Fedwire Access, First For Crypto Firm
Transcribe →E249: TENDERS! Stripe ($159B), Anthropic ($350B), Plaid ($8B); Cerebras files IPO; OpenAI raises $110B; + more
Feb 2700:21:27Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:51 - Stripe Initiates $159B Tender01:29 - Stripe Annual Letter Shows Scale and Faster Cohorts03:16 - Stripe PayPal Optionality Creates a Valuation Spread04:15 - Plaid Employee Liquidity Up-Round at $8B05:19 - Saronic Targets Mega-Round at $8.5B06:18 - Profound Hits $1B at 18-Month Pace07:35 - Cerebras Reopens IPO Window With $10B Compute Deal08:29 - Axelera AI Funds Edge Inference Buildout09:17 - Basis Crosses $1B With Accounting AI Penetration Metrics10:20 - Anthropic Claude Code Security Turns Reasoning Into AppSec11:18 - Anthropic Consumer Momentum Accelerates12:15 - Anthropic Tender Formalizes Late-Stage Liquidity13:02 - Anthropic Targets Mainframe Modernization With COBOL13:55 - OpenAI $110B Round at $840B Post-Money Sets New Bar15:04 - OpenAI Hardware Roadmap Points to 2027 and 202816:12 - OpenAI Consultants Push Enterprise Adoption in 202617:05 - AMD and Crusoe Use Credit to Accelerate Chip Pull-Through18:10 - Starlink Drops Prices To Accelerate Growth, Subscribers at 10M19:37 - Canva Buys Motion and Ad Optimization as Scale Compounds20:44 - Mistral and Accenture Signal Consultant-Led Distribution
Transcribe →E248: OpenAI $280B in 2030 revenue! + “buys” OpenClaw; Grafana $9B valuation; World Labs $5B valuation; + more
Feb 2100:19:52Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:02 - AG Dillon Funds closing on Mar 31, 202600:51 - OpenAI Financials $280B revenue target meets $665B cost wall03:58 - OpenAI “buys” OpenClaw, Steinberger joins OpenAI04:42 - OpenAI Series C aims to shatter records at $850B post money05:41 - OpenAI and Tata bet on India with a 100 MW to 1 GW buildout path06:29 - Grafana’s $9B round talks ride a $400M ARR wave07:23 - World Labs lands Autodesk and targets a rumored $5B valuation08:18 - Temporal wants to be the load bearing layer for agent execution09:31 - Mesh Optical’s $50M Series A targets the chokepoint inside AI data centers10:43 - Render’s $1.5B valuation is a bet that AI apps need a new runtime11:40 - Stash acquired by Grab for $425M13:06 - Physical Superintelligence pitches a physics breakthrough factory with a 20 person team14:07 - Figma plugs Claude Code into design and risks losing the workflow15:00 - Anthropic ships Sonnet 4.6 just 12 days after Opus 4.615:26 - Stripe’s Bridge wins OCC trust charter signal as stablecoin scrutiny rises16:37 - Cohere puts 70 plus languages on device with a 3.35B parameter model17:53 - ElevenLabs turns agent risk into an insurable product at $12.2B secondary19:05 - Mistral buys Koyeb and adds 16 engineers to harden its compute stack
Transcribe →E247: OpenClaw … WHAT?!; Anthropic $380B primary closed; Stripe $140B tender; Harvey $11B round; + more
Feb 1300:18:19Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:15 - OpenClaw Own the Memory File Thesis02:37 - Anthropic $30B Series G, $380B Valuation03:35 - Stripe Tender at $140B While Secondary Prints $151B04:24 - Databricks $5B Equity at $134B and $2B Debt Capacity05:23 - Harvey Talking $200M at $11B Up 38% From December06:28 - Runway $315M at $5.3B Up 75% in Under 1 Year07:37 - Apptronik Series A Reopened to $935M Total08:32 - Modal Labs Discussed $2.5B Valuation Up 127% vs Recent Series B09:22 - Gather AI $40M Series B for Warehouse Vision and Drones10:31 - Simile $100M for AI Digital Twins With Brand Heavy Roster11:30 - Erebor Bank National Charter and $635M Capital With 12% Requirement12:45 - MrBeast Beast Industries Buys Fintech Step13:42 - SpaceX Moon City Under 10 Years and Mars Still on the Roadmap15:13 - Monaco Launches With $35M Raised for AI and Service Sales Model16:26 - xAI Reorg Into 4 Areas and Colossus Expands Toward 2GW17:54 - X Hits $1B ARR From Subscriptions With $3 to $40 Pricing
Transcribe →E246: SpaceX acquires xAI, now $1.473T in secondary market; Waymo at $116B, +14% vs last round; ElevenLabs at $11B, $330M ARR; + more
Feb 600:14:30Tap to summarizeSend us Fan MailInvest in pre-IPO stocks with AG Dillon & Co. Contact aaron.dillon@agdillon.com to learn more. Financial advisors only. www.agdillon.com00:00 - Intro00:07 - SpaceX Acquires xAI at a $1.25T Combined Valuation01:39 - SpaceX Seeks Early Index Inclusion Once Public02:50 - SpaceX Files for 1M AI Data-Center Satellites03:37 - Anthropic Lines Up a $350B Employee Tender04:16 - Anthropic Opus 4.6 Ships With 1,000,000 Tokens and “Agent Teams” for Parallel Work04:53 - Goldman Uses Anthropic’s Claude for AI Agents05:49 - Waymo Nears a $16B Round at $110B as Alphabet Writes Most of the Check06:34 - Cerebras Jumps to $23B Post-Money on a $1B Raise and a 750MW OpenAI Compute Deal07:15 - ElevenLabs Raises $500M at $11B and Targets a 2x ARR Step-Up07:59 - Clay’s New Employee Tender - $5B Tender After ARR Hits $100M08:52 - Lotus Health Raises $35M to Build a Free AI Primary-Care Practice Across All 50 States09:46 - Goodfire Raises $150M at $1.25B to Make Black-Box Models Debuggable10:42 - Accrual Raises $75M to Deliver AI to Slower-Adopting Industries/Sectors11:28 - Fundamental Emerges With $255M and a $1.2B Valuation to Own Structured Data AI12:33 - OpenAI Launches Standalone Coding App 13:29 - OpenAI Frontier Pitches the Enterprise Agent Control Plane as B2B Revenue Targets 50% of Total Rev
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