SaaS, Venture Capital, and Market Analysis by Tomasz Tunguz
Anthropic submits S-11 for record AI listing, Tomasz Tunguz notes
Anthropic has filed its S-11 this week, marking what Tomasz Tunguz described as the largest AI listing to date. Tunguz also highlighted how seven key metrics compare in the context of this ...
Tomasz Tunguz: AI seed rounds now may require $500 million to prove an idea
Seed funding for AI companies has grown significantly, with a single company potentially needing as much as $500 million just to demonstrate a concept. Tomasz Tunguz raised the question of how the ...
Google undercuts Fable on task pricing, Tomasz Tunguz notes
Google offers a task at a $2 price point compared to more than $7 for the same task on Fable. Tomasz Tunguz added that Google’s 2024 TPU paper reported an 80% higher token output, which he ...
Tomasz Tunguz: U.S. data center capacity expected to reach 70 gigawatts with $5 trillion investment
Tomasz Tunguz highlights that U.S. data center capacity is projected to expand significantly, growing from 25 gigawatts to 70 gigawatts over the next five years. This major increase is part of a ...
NVidia becomes sixth largest globally as major buyers shift, Tomasz Tunguz notes
Tomasz Tunguz points out that NVidia has become the sixth largest company in the world. However, he observes that the company’s most important buyers are now changing. No additional information ...
Tomasz Tunguz: SaaS multiples depressed but leaders remain strong
Tomasz Tunguz highlights that the collapse in SaaS has led to depressed valuation multiples. However, he points out that within almost every category, a leading company continues to perform well ...
$1 trillion revenue is possible for AWS, Tomasz Tunguz notes
Tomasz Tunguz highlights a statement from Andy Jassy, who commented that AWS has the potential to be a $1 trillion revenue business. Jassy's view underscores high expectations for AWS's future ...
Tomasz Tunguz: Google Cloud revenue jumps 82 percent to $24.8 billion in Q2 2026
Tomasz Tunguz highlights that Google Cloud achieved an 82 percent year-over-year revenue increase, reaching $24.8 billion in Q2 2026 and surpassing the $22.3 billion consensus estimate. He ...
$9.75 billion spent on embedding engineers, Tomasz Tunguz notes
Tomasz Tunguz highlights that $9.75 billion was allocated over 12 months by five AI companies to forward-deployed engineering, a model where engineers are placed inside customer organizations to ...
Tomasz Tunguz: CIOs to prioritize AI stack investments in 2026
Tomasz Tunguz outlines a clear direction for chief investment officers in 2026, noting that two of five public software sectors are experiencing gains while three are facing declines. According ...
$165b in U.S. Treasury bills held by crypto stablecoins, Tomasz Tunguz notes
Tomasz Tunguz highlights the growing influence of crypto in traditional finance, noting that stablecoin issuers now hold $165 billion in U.S. Treasury bills. He points out that this amount ...
Tomasz Tunguz: Sales strategies depend on cost-plus or value-based pricing
Tomasz Tunguz highlights a fundamental distinction present in every sales pitch, focusing on the differences between cost-plus pricing and value-based pricing. He suggests that this choice shapes ...
SAP leads data-focused companies in size and growth, Tomasz Tunguz notes
Tomasz Tunguz highlights that among data-focused companies, only SAP is larger in scale. He points out that at 80 percent, SAP surpasses peers such as CrowdStrike, which is at 26 percent, and ...
Tomasz Tunguz: SpaceX launches record IPO with Elon Musk retaining high ownership
Tomasz Tunguz reports that SpaceX is going public today in what he describes as the largest IPO in history. He highlights Elon Musk's ability to keep ownership in the top decile among founders, ...
Coinbase keeps costs flat while token usage surges, Tomasz Tunguz notes
Tomasz Tunguz reports that Coinbase is focusing on optimizing costs by routing prompts to cheaper models where possible, according to a statement by Brian Armstrong. The company has managed to ...
Tomasz Tunguz: Companies limit AI spending amid rising costs
Tomasz Tunguz highlights how even the most valuable companies are unable to deploy advanced intelligence across all operations due to budget limitations. Uber placed a cap on employee AI spending ...
Median short interest in AI-adjacent stocks jumped 24 percent last quarter, Tomasz Tunguz notes
Tomasz Tunguz reports that median short interest across AI-adjacent stocks rose by 24 percent last quarter. According to Tunguz, this increase in short interest is concentrated within certain ...
Tomasz Tunguz: Vendors face record capex spending as cash tightens
Tomasz Tunguz highlights a trend among vendors, observing that cost-cutting typically occurs when cash is abundant and market share is crucial, while spending increases when cash becomes scarce ...
Twilio revenue growth jumps to 20 percent, Tomasz Tunguz notes
Tomasz Tunguz, industry influencer, reports that Twilio's revenue growth accelerated to 20 percent year-over-year from 12 percent. According to Tunguz, this boost is attributed to the impact of ...
Tomasz Tunguz: Inference market growth accelerates after ChatGPT launch
Tomasz Tunguz, industry influencer, states that the inference market is currently experiencing rapid growth and is diverging as each modality develops its own inference stack. He points to ...
