DeepSeek's $50B Round, OpenAI's Delayed IPO, and the GP Stakes Market with CAZ Investments
DeepSeek just raised $7.4B at a $50B valuation 🇨🇳and there's no cap table access. It's structured through an SPV, no voting rights, no board seats. CEO Liang Wenfeng put in $3B of his own money and controls the vehicle.
Meanwhile Anthropic is trading above $1T on the secondary market despite Mythos getting staged by the government, and SpaceX just locked in its Nasdaq 100 slot with a $2T valuation on a float of only ~6%.
Plus: Michael O'Keefe of CAZ Investments breaks down how a $12B GP stakes portfolio actually gets built.
00:00 – cold open
00:54 – [ tech and vc news ]
02:33 – SpaceX joins…
The skinny
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