Locator: 51362SOURCE_FOUNDRY.
Note: before we get to the "Source Foundry," note that the earlier post regarding the $30,000-Ford-EV-pickup has been updated: see this post.
Now, back to the Source Foundry story.
Wow, look at this: another foundry to challenge ASML -- but the bigger story, of course, is the amount of money Situational Awareness controls by an under-30 CEO. Just after selling over-leveraged assets to Citadel. Or whatever that was all about.
The story is over at The WSJ, link here:
AI-battered hedge fund Situational Awareness made a big bet this week in Source Foundry, a private company aiming to reinvent the way chips are manufactured, according to people familiar with the matter.
The company has invested $500 million in the startup, including a fresh $400 million infusion this week, one of the people said. Founded last year by Stanford University researchers Abdulmalik Obaid and Joe Burg, Source Foundry has already raised at least several hundred million dollars to date, including a recent fundraising at a valuation of $5 billion, one of the people said. Sequoia Capital previously backed the startup.
So, if I understand this correctly, Source Foundry is a start-up only in the revenue-raising stage.
AI: you can howl at the wind, but AI is here to stay.
