E141: Cerebras targets October IPO, OpenAI rolls out advanced voice mode, Harvey's $100M Series C round, Canva acquires Leonardo.ai, Ramp's AI-powered financial tools, Ramp's AI-powered financial tools, Anduril secures Air Force contracts, Airtable acquir

This Week in Pre-IPO Stocks

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Weekly pre-IPO reports…
- Valuations, revenue multiples, performance = www.agdillon.com/reports
- Market update pdf = www.agdillon.com/update
- Index fact sheet = www.agdillon.com/index
00:06 | Cerebras Targets October IPO
- AI semiconductor company
- Targeting IPO launch as soon as October
- Enlisted Barclays and Citigroup as lead banks
- Confidentially filed with the SEC
- 2021 funding round: $4B valuation (primary)
- Raised $250M in Series F
- Flagship system CS-3 for AI workloads
- Secondary market valuation: $5.4B (+26% vs Nov 2021 round)
01:01 | OpenAI Rolls Out Advanced Voice Mode
- AI large language model company
- Launching ChatGPT's Advanced Voice Mode
- Initially for ChatGPT Plus users, full rollout in fall 2024
- Features hyperrealistic audio responses, emotional recognition
- Tested by over 100 external red teamers
- Secondary market valuation: $105B (+22% vs Apr 2024 round)
01:54 | Harvey's $100M Series C Round
- AI startup for lawyers
- Raised $100M in Series C led by Google Ventures
- Total funding: $206M
- Valued at $1.5B (primary)
- Uses OpenAI's GPT-4 for legal tasks
- Annual recurring revenue and workforce tripled since December
03:08 | Canva Acquires Leonardo.ai
- Graphic design tech company
- Acquired Leonardo.ai to enhance AI tech stack
- Leonardo.ai to continue operating independently
- Canva's valuation: $28.4B (secondary)
- Over 19M registered users, 1B+ images generated
- Canva's revenue close to $2B with 180M monthly users
04:16 | Ramp's AI-Powered Financial Tools
- Business-focused fintech
- Uses AI to streamline financial processes for 25,000+ businesses
- Customers include Shopify and Boys and Girls Club of America
- AI capabilities: OCR for receipt matching, fraud detection, spend optimization
- Tripled annual recurring revenue and workforce since December
- Secondary market valuation: $8.8B (+15% vs Apr 2024 round)
05:44 | Anduril Secures Air Force Contracts
- Tech-focused defense contractor
- Developing prototypes for Collaborative Combat Aircraft (CCA)
- Expected production contracts by 2026
- CCA to perform strike, reconnaissance, electronic warfare missions
- Secondary market valuation: $15.5B (+11% vs May 2024 round)
06:45 | Airtable Acquires Dopt
- Productivity SaaS company
- Acquired Dopt to enhance AI capabilities
- Dopt to wind down service on August 15
- Airtable's AI group to integrate Dopt's team
- Launched Airtable Cobuilder for app creation via chat interface
- Secondary market valuation: $3.5B (-70% vs Dec 2021 round)
07:44 | Pre-IPO Stock Market Weekly Performance
- www.agdillon.com/reports for full pdf
- Pre-IPO +2.91% for week, +69.42% for last 1yr
- Up week: Snyk +80.2%, Notion +13.2%, Revolut +8.1%, Airtable 6.9%, Plaid 5.2%
- Down week: Hugging Face -16.1%, Groq -10.4%, Cohere -5.6%, Klarna -3.5%, ByteDance -2.5%
- Top valuations: ByteDance $286b, SpaceX $210b, OpenAI $105b, Stripe $70b, Databricks $44b
08:40 | Pre-IPO Stock Vintage Index Weekly Performance
- www.agdillon.com/index for pdf with constituent level performance by