Nuclear Renaissance

Six bullets of updates

1. 📞 According to Forbes, Stripe is in talks to acquire stablecoin platform Bridge for $1 billion.

2.  🌊 Has wave energy finally found its golden buoy? CorPower promises to pull wave energy out from the depths and into the mainstream.

3. 💉 Big pharma is increasing investment into European startups — here’s where capital is being spent in 2024.

4. 🇫🇷 French AI startup Mistral unveils AI models for edge devices, boasting 128K token capacity and low-latency solutions.

5. 🌍 South African click-and-collect firm Pargo considers continent-wide expansion, betting on e-commerce growth on the continent.

6. 💍 The next big workplace benefit? Helping with your divorce is becoming more common.

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Surging demand: Oklo and the rise of nuclear power in tech

Oklo, backed by OpenAI's Sam Altman, has surged over 130% in October as major tech firms like Microsoft, Amazon, and Google invested in nuclear energy for data centers and AI. This trend began with Microsoft’s deal with Constellation Energy, pushing hyperscalers to explore small modular reactors (SMRs). While SMR technology is still developing, Amazon's $650 million investment in a nuclear-powered data center shows growing commitment. ☢️

The increased energy demand from AI has led tech giants to see nuclear power as a sustainable solution. Oklo and other nuclear stocks like Constellation Energy and Vistra have gained significantly, with Oklo’s stock jumping 190% since the Microsoft deal. Investors, including Cathie Wood and Peter Thiel, are betting on Oklo’s potential.

The startup’s promising technology and rising interest from hyperscalers indicate a pivotal moment for nuclear energy, potentially transforming it into a critical component for powering the next generation of tech infrastructure. Read more!

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Startup Events and Deadlines

1. Crash Course in Financial Modeling | October 23 | Webinar

2. Financial Modeling Bootcamp | November 11-15 | LIVE 1-week bootcamp

3. Techstars Columbus | November 20 | Columbus

4. Techstars New York City Accelerator | November 20 | New York City

5. Techstars Anywhere Accelerator | November 20 | Remote

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These companies just raised money

1. ✅ Permira completed the Squarespace acquisition after raising the bid to $7.2B. It is no longer a publicly traded company.

2. 📋 Subscription management firm Zuora agrees to be acquired for $1.7B by private equity firms GIC and Silver Lake.

3. 🟥 Redwood Ventures partners with Seedstars Capital to invest $200M in Latin America.

4. 🇬🇧 UK digital ‘end-of-life’ services startup Farewill was acquired for $16.8M by funeral service provider Dignity.

5. 🗓️ With $11.9M in a matter of months. In funding, Dottxt tells AI models how to answer.

6. 🩻 Hyperspectral imagery startup Wyvern, from Canada, looks to raise US presence with a $6M raise.

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Byju’s founder says startup now worth “zero”

Byju Raveendran, founder of Byju’s, admitted this Friday the company's downfall was due to market misjudgments and aggressive expansions, which failed when financing dried up in 2022. Once valued at $22 billion and expected to reach $50 billion, the company is now considered worthless. 0️⃣

Raveendran blamed investor pressure for rapid expansion into 40 markets but said these same investors pulled back after the Russia-Ukraine conflict disrupted global markets. Key investors and Deloitte left the board, citing governance issues. 

Byju has entered insolvency proceedings, but Raveendran remains hopeful for a turnaround despite no longer controlling the company. Read more.

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Halloween Vibes: Top 6 Startups that Apple Killed

Startups with innovative products, like f.lux (a blue light filter) and Pebble (a smartwatch), often get overshadowed by Apple's versions, such as Night Shift and the Apple Watch. This video also covers other unique apps like Knock and Lala, showing how Apple’s actions can stifle smaller companies’ innovations. ⚰️ Subscribe here.

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