? Anthropic and Scale AI are Included in the Forbes Cloud 100 List for 2024

? Anthropic listed #5

The Forbes Cloud 100 list, created with Bessemer Venture Partners and Salesforce Ventures, ranks the top 100 private cloud companies globally annually. This year, two of our portfolio companies were listed among others.

Anthropic, valued at $18.1B, is emerging as a strong competitor to OpenAI. In June, they released Claude 3.5 Sonnet, a large language model CEO Dario Amodei claims surpasses all rivals. This model is already used in various applications, including coding and legal document processing. Some of their notable customers, such as Pfizer and the Dana-Farber Cancer Institute, use it to help doctors organize conversations with doctors. 

Scale AI, with a valuation of $13.8B, is a vital data supplier for generative AI. It was founded in 2016 by Alexandr Wang and Lucy Guo and initially focused on providing human labor for tasks unmanageable by algorithms, essential for labeling data to train AI systems in self-driving cars. Despite a partnership with the Pentagon to evaluate large language models for military planning, Scale AI has faced challenges in building out its business with the federal government.

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Anthropic and Scale AI included in Forbes Cloud 100 list | Raison

Anthropic listed at #5

Kraken partners with Madrid football club
And other news from our portfolio companies

?SpaceX
NASA Elon Musk's company SpaceX for the disposal of the International Space Station (ISS) at the end of its service life. SpaceX will build a device capable of directing the 430-ton station into the Pacific Ocean at the beginning of the next decade. A contract worth up to $843 million has been signed for this purpose. The ISS has been operational since 1998, and thousands of scientific experiments have been conducted on board.

?Kraken
Kraken the Official Crypto and Web3 Partner of Atlético de Madrid. The partnership aims to unite the worlds of sports and Web3, opening new opportunities for both worlds. "Kraken and 'Atletico de Madrid' believe that cryptocurrency and football have the power to change people's lives," said Kraken's Chief Marketing Officer Mayur Gupta.

?Neuralink
Recently, Elon Musk that within the next week, Neuralink will test the brain implant on a second patient. The identity of the patient is not disclosed, but it is known that the initial surgery date was scheduled for the end of June and was postponed due to the patient's health issues. Additionally, it has been announced that the position of the Link in Nolan Arbo's brain has stabilized—previously, there were reports of the chip shifting.

?Groq
As part of the new Series D funding round, Groq to raise $300 million, with a subsequent valuation of $2.5 billion. BlackRock is acting as the lead investor in this round. Tiger Global, D1 Capital, and Social Capital are also expected to participate. The round was anticipated to close in early July.

?Ramp
Ramp several updates to their app. For example, to further automate the purchasing process and protect clients from errors, AI can now generate request forms for the team. Additionally, clients can opt for a notification feature when their planned budget is exceeded.

❗️Important Changes for Stablecoins in the EEA

On June 30, 2024 (UTC+3), new regulatory changes for stablecoins came into effect in the European Economic Area (EEA). Some stablecoins, such as USDT and DAI, will now be available only for sale on the Raison platform. Users can sell these stablecoins for fiat currencies and continue using wallet and custody services.

For more detailed information, please visit our blog.

Best regards,
The Raison Team

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MiCA compliance decisions | Raison

New EEA stablecoin rules

ℹ️Annual reporting to the US Securities and Exchange Commission

The total volume of assets under management increased to $56 million by the end of 2023.

? Raison Asset Management Corp., a licensed investment advisor with the Securities and Exchange Commission (USA), has published its annual update in ADV form.

? These figures demonstrate Raison Asset Management's expertise and success in managing investments. As of December 31, 2023, the total volume of assets under management has increased to about $56 million. Furthermore, Raison FinTechnologies Inc. has seen an increase of over $150 million in total assets in all regulated businesses.

Please familiarize yourself with the published reports on the Investment Advisors' Public Accounts (IAPD) website of the US Securities and Exchange Commission.

✉️ Note that the Part 2A brochure has been revised and is available on both our and the regulator's websites, in addition to the updated ADV report.

?? Read more on our blog.

?On Wednesday, the second Federal Open Market Committee (FOMC) meeting on monetary policy of the year took place. The main points are as follows:

?The Committee kept the rate at the current level of 5.25-5.50%;

?The Committee will continue to reduce the balance sheet according to previously announced plans ($95 billion per month);

?The Federal Reserve notes economic activity is expanding at a confident pace.

?Job growth is slowing, but the unemployment rate remains low. Inflation over the past year has decreased but remains high.

The Fed's updated forecasts for 2024:

?GDP forecast raised from 1.4% to 2.1%;

?Unemployment forecast lowered to 4.0% from 4.1%;

?For core PCE (consumer spending), the regulator expects growth to 2.6% from 2.4%;

?The forecast for the ERFF rate level in 2024 remains unchanged at 4.6% but was raised for 2025 and 2026 from 3.6% to 3.9% and from 2.9% to 3.1%, respectively. ?

Launch of Starship, Anduril, and Animoca Brands

?News from companies our venture fund has invested in.

◾️Animoca Brands

Animoca Brands has invested in Param Labs, supporting the growth of the Web3 gaming ecosystem thanks to Param Labs' innovations, such as Kiraverse. Concurrently, Animoca Brands is collaborating with KACST to develop the Web3 ecosystem and gaming in Saudi Arabia, and it is planning to establish a Web3 Hub in Riyadh.

◾️Anthropic

Anthropic plans to open its first office in Dublin. Ireland will be the company's main base thanks to its technology ecosystem.

◾️Anduril

The US Army tested the autonomous drone Anduril Ghost-X, demonstrating increased autonomy.

◾️SpaceX

SpaceX successfully conducted the Starship launch, demonstrating reliability after addressing previous safety concerns.

◾️StoreDot

StoreDot and EVE Energy have partnered to produce batteries with rapid charging devices.

? Read more on our blog

?? You can invest in private companies with us.

?Contact a manager

*❗️Disclaimer. Content is informative, not financial advice or an invitation to subscribe for any financial products, services, or investments. All investments involve risks including loss of principal. Past performance does not guarantee future results. Seek professional advice before making decisions. Further details on our* website: raison.app

▪️Klarna

The company is transitioning to a subscription model through an app and is launching Klarna Plus. According to Marketing Director David Sandstrom, Klarna's research shows users are eager to enhance their shopping quality through a subscription model.

The global e-commerce subscription market is thriving and is expected to reach a value of $2419.69 billion by 2028, driven by changing consumer preferences in shopping, including the ongoing expansion of e-commerce.

Klarna Plus debuts at a time when Klarna is growing in the U.S. market, transitioning from BNPL to a 360-degree ecosystem. Over the past year, Klarna's customer base in the U.S. has increased by 32%, reaching 37 million consumers. This growth is attributed to Klarna's continuous market innovations.

▪️Rubrik

The company announced that Rubrik Security Cloud — Government has passed StateRAMP certification. With StateRAMP, Rubrik can expand its capabilities for state and educational institutions.

To date, Rubrik Security Cloud — Government has achieved:

• “In Process” status for FedRAMP® and security certificates for Criminal Justice Information Services (CJIS) following the Security Policy and the Family Educational Rights and Privacy Act (FERPA).

• Confirmation of 3PAO compliance with the Cybersecurity and Infrastructure Security Agency (CISA) requirements for secure software development, as outlined in the White House Executive Order 14028 on Improving the Nation's Cybersecurity.

▪️Sift

The company appointed former Cisco Executive Director Raviv Levi as the Director of Product. In his new role, Levi will oversee Sift's product strategy and focus on developing Sift's core platform to protect enterprises and improve user engagement. The company recently announced that it had received 40 patents from the United States Patent and Trademark Office; it was also the only company named a leader in all three categories of fraud detection, e-commerce, and risk-based authentication in the Winter Grid reports by G2.

▪️Animoca Brands

The company announced a strategic partnership with Hong Kong's licensed virtual asset exchange, HashKey Exchange. HashKey Exchange and Animoca Brands aim to create new developments in virtual assets, including public education events about Web3. The partnership highlights HashKey Exchange's plans to expand its digital assets. It aligns with Animoca Brands' vision for the mass adoption of blockchain games and other products, contributing to a more inclusive digital economy.

*? You can invest in private companies with us.
*? Contact a manager.*
#raison_digest❗Disclaimer. Content is informative, not financial advice or an invitation to subscribe for any financial products, services, or investments. All investments involve risks including loss of principal. Past performance does not guarantee future results. Seek professional advice before making decisions. Further details on our* website: raison.app