The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Anthropic Raises $30BN from Microsoft and NVIDIA | NVIDIA Core Business Threatened by TPU | Sam Altman's "War Mode" Analysed | Sierra Hits $100M ARR: Justifies $10BN Price? | Lovable Hits $200M ARR & Rumoured $6BN Round
145 snips
Nov 27, 2025 
Jason Lemkin, a seasoned SaaS investor, and Rory O'Driscoll, an experienced venture capitalist, dive into the multi-billion dollar investment Anthropic secured from Microsoft and NVIDIA. They discuss the implications of Sam Altman's 'War Mode' memo at OpenAI, questioning whether it's effective or just hollow rhetoric. The conversation also explores NVIDIA's customer concentration risks, and whether hyperscalers should build their own chips. They analyze the rapid growth of Sierra and Lovable, discussing their valuations and market strategies amidst the evolving AI landscape.
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Model Companies Buying Compute And Data Centers
- Anthropic raised massive capital from Microsoft and NVIDIA to secure compute and valuation, highlighting infinite-capital dynamics.
- Anthropic deciding to build physical data centers signals model companies want control beyond cloud providers.
Customer Concentration Threatens NVIDIA
- NVIDIA's revenue is heavily concentrated in a few hyperscaler customers, creating strategic vulnerability.
- Large cloud providers can justify building their own chips if they can reclaim tens of billions in profit.
Make Hyper-Aggressive Execution Tangible
- Push teams into hyper-aggressive execution to outpace competitors and ship breakthroughs.
- Measure hyper-aggressiveness by faster delivery, sales activity, and visible velocity across management.
