Sam Altman weighs pulling OpenAI out of EU over AI Act, Nvidia + Snowflake earnings

OpenAI CEO Sam Altman voiced concerns over the EU's planned AI Act, stating that his startup would "try to comply, but if we can't comply, we will cease operating" - Link

The Information sources: OpenAI closed a $175.3M fund to invest in other startups, surpassing its initial goal by 75%; the fund has 14 LPs, and OpenAI has already invested in >12 companies, with plans for a second fund underway - Link

Nvidia shares were up as much as 30% after reporting Q1 earnings, including $11B revenue guidance for Q2; Q1 results: revenue: $7.19B (+19% q/q, -13% y/y), net income: $2B (+44% q/q, +28% y/y) - Link

Snowflake shares fell >16% after lowering its revenue guidance in its Q1 earnings: revenue: $623.6M (+48% y/y); net loss: -$225.6M; Snowflake beat on top and bottom lines and announced it was acquiring AI search startup Neeva - Link

Clumio. When you're building a company, don't let backups and compliance requirements distract you. Let the data protection experts at Clumio help with immutable, air-gapped backups that put compliance on autopilot. Visit them at clumio.com/twist to start a free backup, or sign up for a demo.

Galileo AI's Arnaud Benard joins Jason to demo their text-to-UI platform before discussing the AI startup scene in Silicon Valley (3:47). Then, Lunour's Scott Bair gives a presentation on how to design loved products from rough wireframes to a polished design (34:17). - Link

Tools for Humanity, the startup behind the iris-scanning crypto project Worldcoin, raised a $115M Series C led by Blockchain Capital to scale globally - Link

Microsoft filed an appeal against the UK antitrust regulator's decision to block its $69B acquisition of Activision Blizzard; the EU has approved the deal - Link

Elementl, a data pipelining platform based on the Dagster orchestrator, raised a $33M Series B led by Georgian - Link

Satellite Vu, a UK-based startup building a satellite system to track global thermal emissions, raised a $15.8M Series A led by Molten Ventures; the satellites are slated to launch in June aboard a SpaceX Falcon 9 - Link

This Week in Startups

E1749: Text-to-UI demo with Galileo AI Co-founder Arnaud Benard + How to design loved products

E1748: Startup pitch competition: Jason invests $25K

E1747: Demoing Google’s MusicLM, AssemblyAI, and other AI tools with Sunny Madra

E1746: Fireside chat with Jason Calacanis & Brad Gerstner hosted by Mubadala’s Ibrahim Ajami

E1745: Viral fundraising tactics with Rewind AI’s Dan Siroker + How to build a strong brand

Crowdbotics - Get a free scoping session for your next big app idea

Hampton - Join Hampton's community of high-growth founders today

Microsoft for Startups Founders Hub - Apply in 5 minutes for six figures in discounts