Snowflake earnings, Hugging Face confirms $235M Series D, Modular raises $100M

Snowflake Q2 earnings: revenue: $674M (+36% y/y), net loss: $227M (+2% y/y), FCF: $88M (+50% y/y), net revenue retention: 142%; shares were down ~5%+ on the news - Link

Hugging Face, a platform that features a hub for AI code repositories, confirmed raising a $235M Series D at a $4.5B valuation from Salesforce, Google, Amazon, Nvidia, Intel, AMD, Qualcomm, and others - Link

Modular, a startup that helps customers improve the inferencing performance of AI models on CPUs (and soon GPUs), raised a $100M round led by General Catalyst with participation from GV and Greylock - Link

OnlyFans FY2022 results: revenue: ~$1.1B (+17%), profit: ~$404M (+24% y/y), total creators: 3.2M (+47% y/y), gross payments: $5.6B (+17% y/y) - Link

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Jason breaks down Nvidia smashing its quarterly earnings (3:58), Arm filing its F-1 (26:38), how founders should vet accelerators (56:10), and more! (1:03:53) - Link

T-Mobile will cut 7% of its global staff (~5K jobs), mostly in corporate and tech roles; since 2021, AT&T has cut ~74K jobs, or 32% of its staff - Link

Zepto, an India-based grocery delivery startup, raised a $200M Series E at a $1.4B valuation led by StepStone, marking India’s first new unicorn of 2023 - Link

Ikigai Labs, a startup building a no-code “generative AI for tabular data” service, raised a $25M Series A led by Premji Invest - Link

Nomad, a Brazil-based fintech startup offering Brazilians access to US-based financial services, raised a $61M round at a $361.5M valuation led by Tiger Global - Link

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