Silicon Valley Funding News - Week of August 21, 2023. BitGo Raised $100M Series C

In September, I am heading off to Hong Kong and Singapore for DealStreetAsia, Token2049, and SuperReturn.  May be see some of your there?  =) 

Here are a few great reads, watch, etc for this week:

• 📺 How to Get Into Silicon Valley’s $600 Billion Startup School  - Garry Tan grew up poor in Silicon Valley and tech gave him the opportunity. Great interview with Emily Chang on the Circuit. Click here to watch 
• 💰 A $40,000 Nvidia Chip is the World's Most Sought-After Hardware - Saudi Arabia has bought at least 3,000 of Nvidia’s H100 chips. UAE has also secured access to thousands of Nvidia chips and developed its own open-source LLM, known as Falcon. TSMC is planning to ship about 550,000 of its latest H100 chips globally in 2023. What is the supply and demand for the H100?
  • GPT-4 was likely trained on somewhere between 10,000 to 25,000 A100s.
  • Meta has about 21,000 A100s, Tesla has about 7,000 A100s, and Stability AI has about 5,000 A100s.
  • Falcon-40B was trained on 384 A100s.
  • Inflection used 3,500 H100s for their GPT-3.5 equivalent model.
• 💭 What does Vitalik Buterin think about X (Twitter)'s Community Notes? Interesting read
• 💰  PayPal Launches U.S. Dollar Stablecoin - It is a fully-backed, regulated stablecoin with the goal to transform payments in Web3 and digitally native environments. Read more
• 🌱 Nearly 30% of all checks into companies raising $1M are for less than $25K. (Source: Peter Walker from Carta)

         

This week a total of 13 startups raised $396.2M in funding, 1 M&As:

• $51.1M goes to 4 Enterprise startups
• $7.6M goes to 1 HR startup
• $106M goes to 2 Crypto/Web3 startups
• $24M goes to 1 Health Tech startup
• $49M goes to 1 BioTech startup
• $100M goes to 2 Renewable Energy startups
• $58.5M goes to 2 Autonomous Vehicles startups