GIBBI, Today
In this newsletter I write the 5 most important news that I read in the day about businesses, media and sports in México and in the World.
Stories:
Elon Musk’s xAI raising $10 billion at $200 billion valuation
Nvidia eyes $500M investment into self-driving tech startup Wayve
Microsoft Raises Xbox Console Prices in U.S. for Second Time This Year
How We Drove Over $60 Million In Unrealized Gains In Less Than 90 Days
How Roger Federer's Experiment Became A $50 Million Global Sports Property
Elon Musk’s xAI raising $10 billion at $200 billion valuation (CNBC)
Elon Musk’s xAI is raising $10 billion from investors in a round that values the artificial intelligence startup at $200 billion, sources with direct knowledge of the situation told CNBC’s David Faber
The fundraising comes weeks after Musk raised $10 billion in debt and equity at what was believed to be a roughly $150 billion valuation, according to Faber. Last December, xAI raised $6 billion to fund its AI development
In March, Musk announced that xAI had merged with X, his social network, in an all-stock transaction that valued the AI company at $80 billion and the social media company at $33 billion. Musk acquired Twitter for about $44 billion in 2022 and later changed the name to X
GIBBI View: According to some reports, Elon Musk had told to xAI’s employees that Grok has 64M monthly active users, this would be a smaller that other AI startups, where OpenAI’s ChatGPT has 700M weekly active users and Google’s Gemini has 450M monthly active users
Nvidia eyes $500M investment into self-driving tech startup Wayve (TechCrunch)
Wayve said it has signed a letter of intent with Nvidia to evaluate a $500 million strategic investment in the U.K. startup’s next funding round. Nvidia participated in Wayve’s $1.05 billion Series C round that closed in May 2024
Nvidia said during an event Thursday the £2 billion commitment would include funds from venture-capital investors Accel, Air Street Capital, Balderton, Hoxton Ventures, and Phoenix Court. An Nvidia spokesperson declined to comment on the letter of intent announcement
Wayve, which launched in 2017, has gained attention and investors for its automated driving system that uses a self-learning versus rules-based approach to its self-driving software. Wayve’s end-to-end neural network doesn’t require high-definition maps and only uses data to teach the vehicle how to drive
GIBBI View: This is something that typical that big tech companies in US do, they create their own VC fund to invest in startup similar to its field and this makes that these big tech companies can buy these startups later or receive the investment that they did in the past; remember that I have a business idea similar to this news, where I want to create a carsharing startup to connect people that want to rent their car to people that need to rent a car in the city
Microsoft Raises Xbox Console Prices in U.S. for Second Time This Year (VARIETY)
Microsoft’s Xbox announced Friday it will again be raising the price of its gaming consoles in the United States “due to changes in the macroeconomic environment,” marking the second hike of 2025
As of Oct. 3, the recommended retail price for an Xbox Series X will now be $649.99 and for a Series S 1TB model the price will be $449.99
Xbox also said that, while price of existing games will remain the same, later this year Xbox will increase the price of some of its upcoming first-party games from the usual $69.99 to $79.99 across both digital and physical versions of the titles
GIBBI View: This is one effect of Trump’s tariffs, where every product/good has increased its price and this has generated that the prices has increased its values, so it’s a domino effect that has affected all the most of the countries
How We Drove Over $60 Million In Unrealized Gains In Less Than 90 Days (The Pomp Letter)
ProCap Financial is being created through a merger between ProCap BTC, LLC (a private company) and Columbus Circle Capital Corp 1 (Nasdaq: BRR). Yesterday, ProCap Financial publicly filed our Form S-4 with the SEC
As part of the filing, we made two major announcements:
First, we revealed that our company has already driven more than $60 million in unrealized gains in less than 90 days since we announced the deal. These unrealized gains have been driven by our decision to purchase bitcoin with the equity capital we raised as part of the business combination
The second announcement we made was the appointment of new executive team members. Those individuals include:
Jeff Park: Chief Investment Officer
Megan Pacchia: Chief Operating Office
Kyle Wood: Chief Legal Officer
ProCap BTC, LLC currently holds 4,950 bitcoin, which would make us a top 20 largest holder of bitcoin in public markets anywhere in the world. We will continue to compete on the global leaderboard, so we can become one of the largest holders of bitcoin in the world.
GIBBI View: One of the reasons why I started this blog was because Anthony Pompliano, because I started to follow him in Twitter/X and later in his blog here in substack, where most of the time I disagree about what he says about bitcoin but in the same time I’ve learnt about finance for him; one of the many goals that I have is to create my GIBBI Media Company and in the same time I want to create my GIBBI Phone that it can be integrated my GIBBI SuperApp where I can integrate inside several apps like a GIBBI Speak, GIBBI Carsharing, GIBBI Radio Song and other more apps
How Roger Federer's Experiment Became A $50 Million Global Sports Property (Huddle Up)
The Laver Cup has evolved from an ambitious vision into one of the most financially successful events in tennis. Created by Roger Federer and Tony Godsick in 2017, the international tennis competition is expected to generate over $50 million in revenue over three days from ticket sales, sponsorships, and media rights
The Laver Cup initially benefited from its relationship with Roger Federer. The 20-time Grand Slam winner wanted to honor legendary Australian tennis player Rod Laver and his contemporaries by showcasing the game’s biggest stars in a whole new way
In total, the Laver Cup 2025 is expected to generate more than $20 million in revenue from ticket sales alone, surpassing the tournament’s previous ticket sales record, which was set during Federer’s final tournament in 2022 in London
GIBBI View: The Tennis is the most physical sport (yeah, most than NFL and NBA), because tennis is played around 10 months per year and it’s an individual sport (the rest of the sports are in teams), so I think that the ATP should try to give more rest to players and try to reduce the number of tennis tournaments per year