Good morning. Get this: There have been 13 tech unicorn exits so far this year.
The fine folks at Crunchbase note that we haven’t seen such liquidity among billion-dollar, venture-backed, privately held tech firms since the go-go post-pandemic days of 2021, when Bumble, Coinbase, Roblox and others had their moment in the limelight.
There are fewer deals this time around, but they’re worth considerably more—even if you take SpaceX’s outlier IPO out of the equation. There are market debuts like Cerebras and Quantinuum, tidy roll-ups like Cursor (SpaceX) and Modular (Qualcomm), and SPAC mergers like Agility Robotics (Churchill Capital) and Terra Quantum (Axiom Intelligence). Something for everyone, really.
Who says there’s no ROI on AI? More news below. —Andrew Nusca
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