Stableton Navigator | Shein Doubles Profit in UK, SpaceX Targets Mars & Stripe Returns to Crypto

This week’s stories are full of unexpected moves. A groundbreaking content deal is shaking up the media world. A fast-moving fashion player is about to make a major splash on the market. Another tech leader is quietly pushing into new frontiers, while an under-the-radar player in payments is making a bold return.

THIS WEEK’S BREAKING NEWS

OpenAI secures $6.6B in fresh funds

Shein, the fast fashion giant, doubled its profits to over $2 billion ahead of a highly anticipated IPO, which could be one of the largest in London or New York. The company generated $45 billion in sales in 2023, outpacing competitors like H&M. As Shein eyes this significant market listing, it continues to grow its presence, especially in the UK, where it now competes with local retailers like Boohoo and ASOS. (1)

MARKET UPDATE

AI startups rise while VC slows

AI startups defied the broader VC slowdown, securing $11.8 billion in Q3 2024, making it one of the highest-funded quarters despite economic challenges. This surge, largely driven by mega-deals, reflects strong investor confidence in AI, especially in sectors like foundation models and data infrastructure. Notably, U.S. companies claimed the majority of this capital, and the total AI funding in 2024 has already surpassed $241 billion. (2)

Middle East drives AI future with strategic investments

A new PwC report highlights Abu Dhabi as a rising global hub for AI innovation. Driven by government initiatives, world-class ICT infrastructure, and abundant investment capital, the region is positioning itself as a leader in AI adoption. Notable partnerships, such as Abu Dhabi's MGX investing in OpenAI, and developments like the UAE's Jais and Saudi Arabia's Bayan AI models, are solidifying Abu Dhabi’s prominent role in AI. PwC projects that ongoing investments and strategic initiatives will keep the region at the forefront of the AI revolution. (3)

PORTFOLIO & CO-INVESTMENT UPDATE

Discover opportunities to connect with leading global pre-IPO unicorns

Through Stableton’s portfolio products and co-investment program, you can?explore?some of the most promising unicorns before they go public.

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PORTFOLIO NEWS

Uber taps OpenAI for smart EV guidance in 2025

Uber will launch an OpenAI-powered AI assistant in 2025 to help drivers with questions about electric vehicles (EVs), such as charging locations and purchase advice. Integrated into the Uber driver app, the chatbot will offer personalized responses based on the driver’s location and available incentives. Future updates will include voice interactions, and the rollout will be coupled with an EV mentorship program, incentivizing experienced EV drivers to guide others. (4)

OpenAI opens doors in Singapore, Paris, and Brussels

OpenAI is expanding globally with new offices in Singapore, Paris, and Brussels, adding to its existing locations. The Singapore office, launching by the end of the year, will serve as a hub for the Asia Pacific region, driven by high ChatGPT usage. OpenAI is also partnering with AI Singapore to enhance AI access in Southeast Asia as part of its broader expansion efforts following its $6.6 billion funding round. (5)

OpenAI unveils experimental “Swarm” framework

OpenAI's experimental "Swarm" framework for multi-agent AI networks has sparked debate among industry leaders and ethicists, despite not being an official product. Swarm enables developers to create interconnected AI systems that can autonomously collaborate, transforming enterprise automation. While it offers significant business potential, it raises ethical concerns about job displacement, security, and bias. Swarm provides a glimpse into AI’s future, urging businesses and policymakers to prepare for the shift toward AI-driven decision-making and collaboration. (6)

OpenAI inks content deal with Hearst, boosting AI models

OpenAI just sealed a massive content deal with Hearst, unlocking premium articles from Cosmopolitan, Elle, Women's Health, and the San Francisco Chronicle. This massive move comes hot on the heels of partnerships with The Atlantic—one of the oldest and most respected magazines in the U.S.—and Condé Nast, owner of The New Yorker, Vogue, Vanity Fair, and WIRED. With these iconic publishers onboard, OpenAI is set to revolutionize the content landscape, using elite editorial sources to fuel the next wave of AI-driven media. (7)

Turkey clamps down on Discord over criminal content

Turkey has blocked the Discord messaging platform due to its refusal to provide user data linked to criminal content, particularly after some users praised a recent violent crime. Authorities cited the platform's lack of cooperation in sharing IP addresses and content as a reason for the ban, emphasizing their goal of protecting children from harmful materials. The decision follows similar actions, like Russia's ban on Discord and Turkey’s prior restrictions on platforms like Roblox. (8)

SpaceX aims for Mars by 2026

Elon Musk announced that SpaceX plans to launch five uncrewed Starship missions to Mars by 2026. These missions will serve as vital tests for future crewed landings, with the goal of sending humans to Mars by 2028. SpaceX’s Starship, which has already undergone four test flights, aims to land intact on Mars, overcoming significant challenges posed by the planet’s thin atmosphere. (9)

Stripe teams with Nvidia to enhance AI and fraud tools

The partnership will allow Nvidia to provide broader access to Striple’s AI hardware and software, enabling businesses to prepay for select cloud services. Stripe CEO Patrick Collison highlighted the potential for improving global access to AI, while Nvidia's CEO Jensen Huang noted Stripe's pioneering role in using Nvidia's platform. Stripe has integrated AI into products like Stripe Radar, its fraud prevention service, further positioning itself as a leader in AI-driven financial solutions. (10)

Stripe returns to crypto with USDC payments after 6 years

Stripe has reintroduced crypto payment support after a six-year hiatus, now allowing businesses to accept USD Coin (USDC) for transactions. This move follows Stripe's 2018 discontinuation of Bitcoin payments due to concerns over volatility and transaction speeds. By integrating USDC, Stripe aims to offer a more stable and efficient crypto payment solution, helping businesses expand their global reach with enhanced security and ease of use. (11)

Stripe's USDC relaunch spans 70 countries in a day

Stripe has relaunched its stablecoin payment option, allowing merchants to accept USDC globally. In just 24 hours, individuals from more than 70 countries used stablecoins for transactions. Stripe reintroduced crypto payments, initially discontinued in 2018, due to significant technical improvements. This move enables global businesses to reach more customers with lower transaction costs, enhancing Stripe's ability to offer more payment options across various markets. (12)

Anthropic slashes AI costs with batch processing

Anthropic is challenging OpenAI by offering more affordable batch processing for AI services. Their new Batch API provides a 50% discount on both input and output tokens compared to real-time processing, allowing developers to process data more cost-effectively. This positions Anthropic as a competitive alternative to OpenAI, especially for businesses with large data needs that can benefit from batch processing. (13)

Canva walks back price hikes after user backlash

Canva faced significant backlash over a 300% price hike for its Teams subscription plan, with many users canceling their subscriptions. In response, Canva has reversed some of the changes and introduced a "Pricing Promise," which guarantees at least 60 days' notice before any future price changes. The company also allows existing subscribers to maintain their original pricing as a gesture of appreciation for early adopters, aiming to rebuild customer trust. (14)

xAI’s supercomputer unleashes 100,000 Nvidia GPUs power

Elon Musk’s xAI recently activated? Colossus, a supercomputer powered by 100,000 Nvidia H100 GPUs, built in a remarkable 122 days. The system will soon double to 200,000 GPUs, including next-gen H200 chips, and is crucial for training xAI's advanced AI models like Grok-3. This development emphasizes Musk's ambition to lead in AI, though concerns about power demands and its ethical implications remain central. (15)

Databricks revolutionizes app building

Databricks has introduced a tool that allows developers to build AI-powered applications in just five minutes, simplifying the integration of AI capabilities. This innovation leverages Databricks’ Lakehouse platform and pre-built models, enabling businesses to quickly deploy scalable AI solutions. The platform’s ease of use promises accelerated development for non-experts. (16)

CHART OF THE WEEK

The value of aging unexited companies in global buyout portfolios has soared to a record $3.2 trillion in 2023, more than tripling since 2016. As companies delay exits and remain private longer, investors are sitting on a growing mountain of unrealized value. This trend highlights the increasing importance of private market strategies, showcasing significant value creation. It also underscores the expanding role secondaries will play in unlocking liquidity, as these companies navigate opportunities outside traditional exit paths like IPOs or acquisitions.

THE UNTOLD UNICORN STORY

Databricks: From accidental code to data revolution

Ali Ghodsi didn’t set out to build a tech giant—he just wanted to give away some code. But in 2013, Ghodsi, along with his fellow researchers at UC Berkeley, stumbled upon something powerful: a way to process huge amounts of data faster than ever before, using a framework they called?Apache Spark. Their "accidental" discovery gained so much traction that it transformed into Databricks, a company that's now worth billions.

The real kicker? It wasn’t just luck. With VC backing, Databricks went from a small academic project to a cornerstone of data engineering, revolutionizing the industry with their?lakehouse?architecture—a fusion of data lakes and warehouses that companies like Shell and HP eagerly adopted.

Now Databricks isn’t just a tech company—it’s an innovation powerhouse, making waves in machine learning, big data, and beyond. (18)

QUESTION OF THE WEEK

What happens if one of the unicorns in the index has a poor financial performance?

The?Morningstar? PitchBook? Unicorn Select 20 Index??is equally weighted across 20 companies, so no single company can drastically impact overall performance. However, private market investments carry inherent risk, and some companies may outperform while others underperform. Diversification across multiple unicorns helps mitigate the impact of any company’s performance.

Learn more about the Stableton Unicorn Top 20 Strategy here.

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WHAT'S NEXT

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Sources

1 - The Guardian, 2 - Cryptopolitan, 3 - Arabian Business, 4 - TechCrunch, 5 - TechCrunch, 6 - VentureBeat, 7 - CNBC, 8 - DW, 9 - CNET, 10 - Silicon Republic, 11 - Bloomberg, 12 - Decrypt, 13 - VentureBeat, 14 - Sydney Morning Herald, 15 - Interesting Engineer, 16 - VentureBeat, 17 - BizJournal, 18 - Big Eye

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