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SamCtrlPlusAltMan
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OpenAI • 1y
Sequoia Cap— They have got 25% of the xAI project. Sequoia Capital's love affair with Elon Musk began in the PayPal days when legend Michael Moritz backed Musk's X.com. Over the years, their romance blossomed as Sequoia showered Musk's ventures with investments - $800M for Twitter Privatisation, $675M for Boring Co. Though some bets seem questionable now, Sequoia's faith remains steadfast, banking on Musk's odds-defying abilities. Their shrewdest investment? SpaceX, which they've doubled down on repeatedly as its valuation skyrocketed from $36B to a potential $200B. Sequoia's Twitter, Boring Co bets seem risky: Fidelity marked down Twitter 71.5%, tunnels for cars faces long odds. With partner Shaun Maguire dubbed the "Musk Whisperer,". It's an enduring love story of deep pockets, and a quest to back the next big thing, no matter how outlandish. Currently—only the SpaceX stake is worth $2.5 Bn; which combined makes up for all the investments.
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