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

SambaNova Systems / Private Capital Markets

<ul><li>SambaNova Systems was valued at $11B following its $1B Series F round led by General Atlantic in July 2026.</li><li>The founders set out to create a new type of AI chip architecture that could handle increasingly complex AI workloads more efficiently than traditional GPUs.</li><li>SambaNova has tailwinds from the explosive growth in enterprise AI adoption and has the opportunity to expand into adjacent markets through inference optimization, industry-specific solutions, and cloud services delivery.</li></ul>

SambaNova Systems was valued at $11B following its $1B Series F round led by General Atlantic in July 2026.The founders set out to create a new type of AI chip architecture that could handle increasingly complex AI workloads more efficiently than traditional GPUs.SambaNova has tailwinds from the explosive growth in enterprise AI adoption and has the opportunity to expand into adjacent markets through inference optimization, industry-specific solutions, and cloud services delivery.

Cerebras Systems / Private Capital Markets

<ul><li>Sacra estimates Cerebras hit $510M in 2025 revenue, up 76% YoY from $290M in 2024.</li><li>Morgan Stanley projects the company reaches $8B in 2028 revenue, driven primarily by the $20B OpenAI compute agreement running through 2028.</li><li>In May 2026, Cerebras completed its IPO on the Nasdaq Global Select Market under ticker "CBRS," raising approximately $6.38B, with Morgan Stanley, Citigroup, Barclays, and UBS as lead bookrunners.</li></ul>

Sacra estimates Cerebras hit $510M in 2025 revenue, up 76% YoY from $290M in 2024.Morgan Stanley projects the company reaches $8B in 2028 revenue, driven primarily by the $20B OpenAI compute agreement running through 2028.In May 2026, Cerebras completed its IPO on the Nasdaq Global Select Market under ticker "CBRS," raising approximately $6.38B, with Morgan Stanley, Citigroup, Barclays, and UBS as lead bookrunners.

<ul><li>Sacra estimates that Groq generated $90M in revenue in 2024.</li><li>Groq was valued at $3.5B following its $350M funding round led by Disruptive in August 2026, with Nvidia planning to participate.</li><li>Groq has grown to over 3.5 million developers as of early 2026, up from 2.8 million in mid-2025 and 360,000 eighteen months prior.</li></ul>

Sacra estimates that Groq generated $90M in revenue in 2024.Groq was valued at $3.5B following its $350M funding round led by Disruptive in August 2026, with Nvidia planning to participate.Groq has grown to over 3.5 million developers as of early 2026, up from 2.8 million in mid-2025 and 360,000 eighteen months prior.

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>The massive $13.6bn revenue beat proved the market fundamentally mispriced how agentic AI is turning the CPU into an urgently necessary orchestration bottleneck.</li>
<li>With orchestration dominating workload latency, an incremental $60 billion CPU TAM plays directly into Intel’s massive x86 installed base and NVLink partnerships.</li>
<li>Intel’s 20% server (and/or more) price hikes remain intact; the actual threat to this re-rating is entirely tied to 18A production yields. Lower Q2 marginal guidance not a structural indicator. </li>
</ul>


The massive $13.6bn revenue beat proved the market fundamentally mispriced how agentic AI is turning the CPU into an urgently necessary orchestration bottleneck.
With orchestration dominating workload latency, an incremental $60 billion CPU TAM plays directly into Intel’s massive x86 installed base and NVLink partnerships.
Intel’s 20% server (and/or more) price hikes remain intact; the actual threat to this re-rating is entirely tied to 18A production yields. Lower Q2 marginal guidance not a structural indicator. 


The ChatGPT Moment for a 60-Year-Old Company

<ul><li>Sacra estimates that SiFive generated $38.2 million in revenue in 2023.</li><li>SiFive was valued at $2.5 billion in its most recent funding round, a $175 million Series F completed in March 2022.</li><li>Revenue is split roughly 60% IP licensing, 30% custom design services, and 10% development boards and tools.</li></ul>

Sacra estimates that SiFive generated $38.2 million in revenue in 2023.SiFive was valued at $2.5 billion in its most recent funding round, a $175 million Series F completed in March 2022.Revenue is split roughly 60% IP licensing, 30% custom design services, and 10% development boards and tools.

United States

Hardware-software stack for running and scaling enterprise generative AI workloads

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SambaNova Systems (SYSTEMS US)

Primer: SambaNova Systems - 03 Aug 2026

Hardware-software stack for running and scaling enterprise generative AI workloads

Sacra

Primer: Cerebras - 24 Aug 2026

AI chip hardware for training large-scale models in scientific and enterprise use cases

Sacra

Primer: Groq - 17 Aug 2026

AI inference chip and cloud tool for running large language models efficiently

Sacra

The ChatGPT Moment for a 60-Year-Old Company

Intel's revenue beat highlights the importance of AI-driven orchestration in turning the CPU into a bottleneck, with potential for price hikes and...

Mint Finance

Primer: SiFive - 15 Dec 2025

Processor core IP for custom RISC-V chip design across consumer, automotive, and datacenter markets

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: SambaNova Systems - 03 Aug 2026

Hardware-software stack for running and scaling enterprise generative AI workloads

Sacra

Primer: Cerebras - 24 Aug 2026

AI chip hardware for training large-scale models in scientific and enterprise use cases

Sacra

Primer: Groq - 17 Aug 2026

AI inference chip and cloud tool for running large language models efficiently

Sacra

The ChatGPT Moment for a 60-Year-Old Company

​Intel's revenue beat highlights the importance of AI-driven orchestration in turning the CPU into a bottleneck, with potential for price hikes and...

Mint Finance

Primer: SiFive - 15 Dec 2025

Processor core IP for custom RISC-V chip design across consumer, automotive, and datacenter markets

Sacra

Intel's revenue beat highlights the importance of AI-driven orchestration in turning the CPU into a bottleneck, with potential for price hikes and...