OpenAI to receive $100B investment from Nvidia

OpenAI is in line for a massive funding boost as Nvidia has committed the first $10 billion of a planned $100 billion investment, valuing the ChatGPT maker at $500 billion. Nvidia will receive roughly a 2% stake from its initial outlay, with the rest of the investment to be deployed in stages as OpenAI brings new data centre capacity online. OpenAI projected infrastructure and training costs of at least $450 billion through 2030. By year-end, OpenAI will have raised more than $70 billion since its founding, and its on going restructuring could pave the way for a future IPO. OpenAI is an underlying asset of VenCap 6, VenCap 10A, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

Stripe considers share buyback valuing it at $107B

Stripe is reportedly in talks to repurchase shares from investors, using a price that places the company’s valuation at $106.7 billion, per Axios. That figure exceeds its peak private valuation of $95 billion in 2021 and significantly improves over its $50 billion valuation in 2023, when the market downturn pressured fintech valuations. The move could also give employees a chance to cash out at this elevated price. Stripe is an underlying asset of VenCap 6, VenCap 10A, VenCap 12, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

ByteDance explores U.S. divestment as TikTok valuation and investor interest surge

ByteDance is reportedly preparing for a potential forced sale of TikTok’s U.S. operations, with a deal structure involving equity investments from firms like Perplexity, Sequoia, and SoftBank to support the acquisition. Under the structure, ByteDance would retain minority ownership while new consortia would acquire controlling stakes in the U.S. business. The strategic move enables ByteDance to comply with U.S. regulatory pressures while potentially unlocking value—TikTok has been valued at roughly $50 billion in recent investor conversations. ByteDance is an underlying asset of VenCap 6, VenCap 10A, VenCap 11A, VenCap 12, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16 and VenCap 17.

BitGo files for $300M IPO

BitGo, the Palo Alto–based digital asset custody and lending platform, has filed for an IPO that Renaissance Capital projects could raise around $300 million. In the first half of 2025, the company generated more than $4 billion in revenue and reported $12.6 million in profit. BitGo plans to list on the NYSE under the ticker BTGO. BitGo is an underlying asset of VenCap 6.

Distyl AI raises $175M at $1.8B valuation to accelerate enterprise adoption of AI

Distyl AI, a San Francisco-based startup, has closed a $175 million Series B round at a $1.8 billion valuation, led by Khosla Ventures and Lightspeed Venture Partners. Founded in 2022 by former Palantir executives Arjun Prakash and Derek Ho, the company helps Fortune 500 businesses across healthcare, telecoms, insurance, manufacturing and finance become “AI-native” by embedding artificial intelligence directly into their operations. Distyl AI is an underlying asset of VenCap 6, VenCap 16, VenCap 17, VenCap 18 and VenCap 19.