Daily Tidbits

Evening all

the Kelce brothers - the American football stars - just bagged a 100m three-year podcast deal with Wondery. Just in time as Private Equtity players just got the approval to acquire NFL teams. While reading the Wikihow tutorial on how to become an NFL star, I remain focused on markets. My notes and tidbits of today below.

For the first time in a proper newsletter format - go ahead and share with anyone who might be interested in daily market musings, weekly roundups and selected deep dives into key investment themes:

Cheers
Philip

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• Cribl - the SF-based data infrastructure provider - bags 319m in Series E. 200m primary. 119m secondary. Led by GV @ a 3.5bn valuation pop (vs. 2.45bn post money in early 2022). GIC, CapitalG, IVP and CRV participated. On NVIDIA Day - as the day of the AI enabler’s earnings is known - Cribl embraces exactly not being AI. The company does have an AI co-pilot solution. But focus is on helping clients organize their data piles. Yet Cripl has contacted news outlets to clarify specifically: They are not an AI company. Because we rarely see rounds of this size anymore for Silicon Valley tech start-ups that aren't focused on artificial intelligence. Big money for a non-AI venture

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• Pre NVIDIA Earnings. Analysts expect +143% in earnings. The stock could see a 309.7bn swing based on market-implied pricing on earnings. Potential move of 9.8%. That is Finland’s GDP. Albeit the share of MAG 7 in the overall S&P 500 EPS growth has shrunk in past quarters.

• German real GDP is 10% below pre-pandemic levels. Soundbites and context on this week’s weak German GDP reading for Q2 (putting it on top of mind again: (0.1)% - pretty much all attributable to Govvy spending). All the while startup sentiment in Germany has diminished over the years - lets go and encourage the next generation of founders and turn this around!