Nvidia Surpasses Microsoft!

Meet the New King of Tech - Nvidia’s $3.34 Trillion Market Cap

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Startup Spotlight

Nvidia has become the world's most valuable public company, surpassing Microsoft, with a market cap of $3.34 trillion. The chipmaker's stock has soared more than ninefold since late 2022, driven by the AI boom. Nvidia now dominates the AI chip market, powering tech giants like OpenAI and Microsoft. With shares up 170% this year, Nvidia's CEO, Jensen Huang, is now one of the world's richest people. Meanwhile, Microsoft remains a major player in AI, leveraging Nvidia's GPUs for its Azure cloud service.

OpenAI has brought on Sarah Friar, former Nextdoor CEO, as their first CFO, and Kevin Weil, a veteran of Twitter, Facebook, and Instagram, as Chief Product Officer. These hires come after co-founder Ilya Sutskever's departure and Jakub Pachocki's promotion to Chief Scientist. Sam Altman, OpenAI's CEO, believes Sarah and Kevin will help drive the next phase of growth. The company has also recently added new directors, including Sue Desmond-Hellmann and Nicole Seligman.

A Seattle jury ruled against Boeing, awarding $81 million to failed electric airplane startup Zunum for stealing technology and undermining their business. The jury found Boeing misappropriated trade secrets and breached their contract with Zunum, with the potential for the damages to be tripled. Boeing denies the accusations, claiming Zunum failed on its own and that they only created a conceptual mock-up, not a competing design. The final damages and Boeing's appeal could take years to resolve.

AuditBoard just scored 2024’s biggest VC-backed M&A exit with a $3 billion acquisition by Hg. Despite flying under the radar, this auditing software startup pulled in $200 million in annual revenue. This shows there’s big money in less flashy industries like auditing and compliance, with other companies like DataSnipper and FloQast also seeing significant investments. Even though these sectors aren’t buzzworthy, they’re proving to be highly profitable in a slow M&A market.

So, SXSW, the ultimate startup fiesta, wasn't born from genius but a failed New York music plan. Back in '87, during Spring Break, the founders turned the slowest music week into a hit. From 700 peeps to 60,000 badge holders today, they're the OG trash-to-treasure story. The lesson? Entrepreneurs, like rockstars, turn overlooked ideas into gold—persistently. SXSW isn't just celebs; it's where Twitter and Obama happened. So, if you're a startup, SXSW isn't a festival; it's a launchpad. Apply for Pitch; who knows, you might be the next Siri or Klout. Rock on, startup dreamers!

Startup Acquisitions

Mozilla Acquires Anonym (LINK)

Data analytics startup Ayudante acquires SG firm (LINK)

Shopify acquires Threads (no, not that one) (LINK)

Hugging Face to Acquire Argilla for $10M (LINK)

Filing shows Salesforce paid $419M to buy Spiff in February. (LINK)

🚀 Justin Jackson's Ajlkn Journey: $0 to $23,580 MRR in 3 years—SaaS growth is “gradual, then sudden.”

⬆️ Discover what this SaaS learned on their journey to $10,000 MRR

💰 Anthony Riera's Guide to Launching a $100,000 MRR Productized Service

🛣️ Guerilla Marketing: How To Scrape Apollo leads for COMPLETELY free in 2024

⚙️ How a startup grew from $600K to $1.4M annually with fewer features than competitors

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