Sequoia Capital GP @sonyatweetybird is seeing Jevons Paradox all over the place from her perch at the firm "Not to be an annoying VC, but Jevons Paradox is a freaking wonderful thing." "Because what's happening is — I see the data on all this stuff. Our companies, we see the gross margins going up. At the same time as AI usage is going way up, their gross margins are also going up. Because they are the beneficiaries of intelligence getting cheaper and cheaper to meter." "On the other hand — and I see this from the model companies we work with — their cohorts are getting better and better and better." "So it's not like they're facing price competition, and their businesses are going into the gutter. They have phenomenal businesses, where because they're able to provide intelligence at increasingly cheap prices, their businesses actually get better and better." "So I actually think this is an 'everybody wins' situation."

LATEST: 📊 Kalshi is in talks with Sequoia Capital and Wellington Management to raise at least $750M at a $40B valuation, nearly double the $22B valuation it fetched in May, per The Information.

Announcing our $25M Series A led by @sequoia Ten months ago, we came out of stealth to rebuild the general ledger from the ground up with AI at the core. Today, we power the finance stack behind some of the fastest-growing companies like @windsurf_ai and Decagon. Why are we building @RilletHQ ? Because closing the books still takes 10–20 days. Because finance teams are stuck with ERPs built a decade before the iPhone. And because every other department from sales to engineering to legal is now powered by AI. Finance should be too. Our goal is simple: zero-day close. With this fundraise, we’re one step closer. We’re incredibly proud to partner with Sequoia Capital on this next chapter. The incredible team @JulienBek @roelofbotha @Alfred_Lin and @bhalligan have already brought unmatched insights that will help accelerate our next phase of growth. They’ve seen this shift coming for a long time. Special thanks to our early investors who have doubled down in this round: @specht_p at @creandum @btrenchard at @firstround @chadbyers at @SusaVentures And to our latest angels Lee Kirkpatrick and Ron Gill, who bring with them a wealth of CFO experience and expertise having previously been at Twilio and NetSuite. Learn more about the fundraise in the blog post and media.

⚡️Energy Brief⚡️Valar Atomics closed a $1 billion Series B led by Sequoia Capital at a $6 billion valuation, tripling from $2 billion just months ago. The company also secured a $200 million credit facility, pushing total raised past $1.2 billion. Valar builds factory-produced small modular reactors, high-temperature, gas-cooled, and TRISO-fueled, designed for mass manufacturing. In June, the company demonstrated its Ward 250 reactor powering an NVIDIA Blackwell system and announced a deal with NVIDIA to develop a waterless 30MW AI factory. Sequoia partner Shaun Maguire is joining the board. Other investors in the round include Apandion Capital, Atreides Management, Point72, Valor Equity Partners, and Conviction. The $1 billion round follows a $130 million Series A in late 2025. Valar was founded by CEO Isaiah Taylor. @valaratomics Source: TechCrunch

Jeff Wang, a former star stock-picker at Sequoia Capital, raised more than $1 billion for his new technology-focused equity hedge fund, highlighting the strategy’s popularity in an otherwise dismal year for raising money

KALSHI RAISES $1B AT A $40 BILLION VALUATION Kalshi has closed a Series G co-led by Sequoia Capital and Wellington Management. Its valuation has climbed from $1B in June 2025 to $40B in just sixteen months. Kalshi launched in 2021 after spending nearly four years securing federal regulation. It gained traction during the 2024 election, then reached a much wider audience after introducing sports contracts in early 2025. Growth is now increasingly driven by markets beyond sports, including crypto, commodities, and new derivatives products: "Kalshi continues to experience significant growth, with Q4 revenue currently on track to surpass Robinhood's revenue." The new capital will support new products for retail and institutional customers, and international expansion. Other investors include Morgan Stanley Investment Management, Baillie Gifford, Coatue and Andreessen Horowitz. An IPO has also been discussed, though Tarek Mansour has not confirmed plans or provided a timeline.

SIMAN LABS | AI & Tech Brief 🚀 Trajectory Raises $45M Series A to Make AI Model Training More Accessible AI startup Trajectory has raised $45 million in Series A funding led by Sequoia Capital, with participation from Nvidia, Bessemer Venture Partners, and Bain Capital Ventures, reaching a reported valuation of $300 million. The company is building a continuous learning and post-training platform designed to help AI models improve through real-world feedback and professional expertise. Key Highlights: 🔹 Democratizing AI Training: Trajectory aims to make model optimization accessible to professionals in law, healthcare, finance, and other industries without requiring machine learning expertise. 🔹 Continuous Learning: Its platform collects real-world performance data and user feedback, enabling models to adapt to specific business workflows through iterative post-training. 🔹 Industry Adoption: Companies including Harvey, Rogo, Decagon, Mercor, and Nvidia are among its reported users and partners. 🔹 Human-in-the-Loop: Rather than relying entirely on autonomous self-improvement, Trajectory emphasizes human-defined performance standards and expert feedback to guide model evolution. 📌 Industry Perspective As AI moves beyond general-purpose applications into specialized professional workflows, post-training is emerging as a critical layer of AI infrastructure. The next competitive advantage may not come solely from building larger models, but from making models continuously learn, adapt, and perform reliably in real-world environments. The future of AI is not just about intelligence — it’s about practical expertise. #SIMANLABS# #AI# #ArtificialIntelligence# #LLM# #MachineLearning# #Tech#

Anthropic's IPO is imminent, and a lot of big names are poised to cash in on Claude. Major early investments include: 💰 Iconiq: More than $6 billion 💰 GIC: $4.5 billion 💰 Sequoia Capital: $3 billion 💰 Menlo Ventures: More than $1 billion 💰 Spark Capital: $75 million Cut through the noise with @BrianSozzi every day at 9:30 a.m. ET on Yahoo Finance.