Tech
The AI Rollup Wave Transforming Main Street
Venture capital is buying its way into the AI transformation that enterprise software hasn’t delivered. Instead of selling AI tools to companies, venture firms are buying legacy companies outright and rebuilding them around AI from the inside. The bet puts VCs on offense and leaves traditional private equity, which spent the last cycle buying enterprise software at peak prices, on defense.
The strategy is known in Silicon Valley as the AI rollup. Over the past six months it has crossed into public markets twice: General Catalyst and Trian’s $7.6 billion take-private of Janus Henderson (JHG) in December, and Long Lake Management’s $6.3 billion agreement in May to take American Express Global Business Travel (GBTG) private at a 65 percent premium. CNBC’s Deirdre Bosa has the story.
Chapters:
0:00 – 0:55 Introduction
0:56 – 4:31 The AI rollup
4:32 – 5:34 Where private equity got it wrong
5:35 – 7:20 A risky bet
Anchor and Columnist: Deirdre Bosa
Produced by: Jasmine Wu
Edited by: Andrew Evers
Senior Director of Video: Jeniece Pettitt
Animation: Emily Park
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AI Rollup: Silicon Valley’s New Buyout Playbook Is Hitting Wall Street
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Watch updates on major stock market averages and tech stocks as trade talks progress on between the U.S., Canada and Mexico.
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Apple unveiled its home speaker during WWDC 2017 on Monday. The device, called HomePod, will go toe-to-toe with existing competitors such as the Amazon Echo and Google Home.
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Snapchat’s parent files for an IPO, which may make it the largest tech company to go public in years.
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U.S. voters passed 40 ballot measures putting limits on AI data centers this week, as huge 1GW AI data centers from OpenAI, Meta, SpaceXAI, Amazon, Google and more push up water and power bills and put a strain on local resources. One of the issues that continues to come up is water usage, which is needed to cool the GPUs inside data centers running AI workloads. Closed-loop liquid cooling keeps water use low inside many modern AI data centers, but external cooling is still needed to move heat outside of the buildings and that requires large amounts of power or water in hot climates. CNBC visited data centers and spoke to researchers to find out the truth about how data centers use water.
Producer and Reporter: Katie Tarasov
Edited by: Erin Black, Matthew Soto
Camera: Andrew Evers
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: AMD, CoolIT, DeepX, Equinix, Getty Images, Meta, Micron, Nvidia, SK Hynix, TSMC
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The Less Water Data Centers Use, The More Power They Consume. Here’s Why
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Jennifer Fonstad, Aspect Ventures, discusses whether startups may get a major boost from the incoming administration’s infrastructure plans.
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