Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Browser automation enables AI agents to programmatically and robustly interact with legacy systems by using websites like a human to use apps and enter data, with MCP enabling AI voice agents &amp; chatbots to chain browser automation together into end-to-end workflows that can replace humans.</li><li>First as developer infrastructure for browser use from companies like Browserbase ($67.5M raised, CRV &amp; Kleiner Perkins), browser automation has expanded to non-technical operations teams via products like Asteroid (YC W25), with the opportunity to eat $2B+ of yearly spend on incumbent automation companies like UiPath (NYSE: PATH, $9B market cap) in enterprise.</li><li>Asteroid is a platform where teams can build and run AI browser agents. These AI browser agents can automate complex browser workflows people still do by hand in web portals such as form filling, data entry, and scheduling.</li></ul>

Browser automation enables AI agents to programmatically and robustly interact with legacy systems by using websites like a human to use apps and enter data, with MCP enabling AI voice agents &amp; chatbots to chain browser automation together into end-to-end workflows that can replace humans.First as developer infrastructure for browser use from companies like Browserbase ($67.5M raised, CRV &amp; Kleiner Perkins), browser automation has expanded to non-technical operations teams via products like Asteroid (YC W25), with the opportunity to eat $2B+ of yearly spend on incumbent automation companies like UiPath (NYSE: PATH, $9B market cap) in enterprise.Asteroid is a platform where teams can build and run AI browser agents. These AI browser agents can automate complex browser workflows people still do by hand in web portals such as form filling, data entry, and scheduling.

David Mlcoch, co-founder & CEO Of Asteroid, On Browser Automation And The Last Mile Problem Of AI

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

Advanced Micro Devices / Equity Bottom-Up

<ul>
<li>OpenAI agrees to deploy 6 gigawatts of AMD GPUs based on a multi-year, multi-generation agreement. The deal could be worth upwards of $100 billion to AMD through 2030</li>
<li>AMD issued OpenAI a warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones are achieved, including AMD share price appreciation to $600</li>
<li>Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into enterprise. Just saying...</li>
</ul>


OpenAI agrees to deploy 6 gigawatts of AMD GPUs based on a multi-year, multi-generation agreement. The deal could be worth upwards of $100 billion to AMD through 2030
AMD issued OpenAI a warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones are achieved, including AMD share price appreciation to $600
Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into enterprise. Just saying...


OpenAI, AMD Enter Into Strategic Partnership. Guys, This Is Getting Ridiculous!

<ul>
<li>Inference compute is going increase by a factor of one billion. It's already gone up at least 2x in the past twelve months</li>
<li>OpenAI will become the next multi-trillion dollar <em><strong>hyperscaler</strong></em>. NVIDIA is going to make sure this happens</li>
<li>AI-Related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!</li>
</ul>


Inference compute is going increase by a factor of one billion. It's already gone up at least 2x in the past twelve months
OpenAI will become the next multi-trillion dollar hyperscaler. NVIDIA is going to make sure this happens
AI-Related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!


It's Official, OpenAI Is Becoming A Multi-Trillion Dollar Hyperscaler

<ul><li>Foundation model companies OpenAI & Anthropic commoditized the first wave of vertical AI companies that reasoned over public data—like web PDFs, patents and earnings calls—with agentic products that browse the web, do deep research and build datasets, spurring the next wave of vertical AI companies that focus on integrating frontier models with vertical-specific workflows, embedded with proprietary telemetry that captures document diffs, user corrections & tool calls.</li><li>In highly-regulated, risk-averse industries, less than 1% of manual workflows have been replaced with AI as companies fear IP exposure through third-party models, unauditable changes to high-stakes documents, and AI-generated content they can't verify or trace back to source material, creating the opportunity for companies like Raycaster for biotech (Seed, Y Combinator) alongside bigger players like Harvey for law ($21M Series A, Sequoia) and Hebbia for finance ($30M Series A, Index Ventures).</li><li>Today&#39;s emerging vertical AI playbook: 1) embed engineers a la Palantir&#39;s forward-deployed model to build AI workflows and automate away manual processes, 2) hire domain experts as internal evaluators through a Mercor-like contractor network to tune &amp; improve outputs, and 3) capture customers’ usage data to continually improve the system.</li></ul>

Foundation model companies OpenAI & Anthropic commoditized the first wave of vertical AI companies that reasoned over public data—like web PDFs, patents and earnings calls—with agentic products that browse the web, do deep research and build datasets, spurring the next wave of vertical AI companies that focus on integrating frontier models with vertical-specific workflows, embedded with proprietary telemetry that captures document diffs, user corrections & tool calls.In highly-regulated, risk-averse industries, less than 1% of manual workflows have been replaced with AI as companies fear IP exposure through third-party models, unauditable changes to high-stakes documents, and AI-generated content they can't verify or trace back to source material, creating the opportunity for companies like Raycaster for biotech (Seed, Y Combinator) alongside bigger players like Harvey for law ($21M Series A, Sequoia) and Hebbia for finance ($30M Series A, Index Ventures).Today&#39;s emerging vertical AI playbook: 1) embed engineers a la Palantir&#39;s forward-deployed model to build AI workflows and automate away manual processes, 2) hire domain experts as internal evaluators through a Mercor-like contractor network to tune &amp; improve outputs, and 3) capture customers’ usage data to continually improve the system.

Levi Lian, CEO Of Raycaster, On Why Vertical AI Is Workflows First & Chat Last

<ul><li>Raycaster completed a pre-seed funding round on December 4, 2024, though the amount raised was not publicly disclosed.</li><li>Raycaster operates a B2B SaaS model targeting life sciences service providers and biotech companies.</li><li>Raycaster's success with ambient agent swarms that track patents, publications, trials, and competitive moves creates opportunities for always-on market and medical intelligence subscriptions.</li></ul>

Raycaster completed a pre-seed funding round on December 4, 2024, though the amount raised was not publicly disclosed.Raycaster operates a B2B SaaS model targeting life sciences service providers and biotech companies.Raycaster's success with ambient agent swarms that track patents, publications, trials, and competitive moves creates opportunities for always-on market and medical intelligence subscriptions.

United States

OpenAI, L.P. operates as a software company. The Company specializes in AI research and deployment that aims to ensure that artificial general intelligence benefits all of humanity. OpenAI serves customers worldwide.

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OpenAI (2193707D US)

David Mlcoch, co-founder & CEO Of Asteroid, On Browser Automation And The Last Mile Problem Of AI

Can you tell us what Asteroid is and what inspired you to start the company...

Sacra

OpenAI, AMD Enter Into Strategic Partnership. Guys, This Is Getting Ridiculous!

Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into...

William Keating

It's Official, OpenAI Is Becoming A Multi-Trillion Dollar Hyperscaler

AI-related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!

William Keating

Levi Lian, CEO Of Raycaster, On Why Vertical AI Is Workflows First & Chat Last

What is Raycaster in short and what inspired you to start the company...

Sacra

Primer: Raycaster - 02 Oct 2025

Enterprise AI all-in-one for life sciences providers to speed regulatory and legal research

Sacra

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