Pre-IPO Research

Background research on leading private companies. For current bids, offers, and round status, visit the live trading book.

Private Company Notes

1X Technologies — Robotics / Humanoid AI
Aalo Atomics — Nuclear / Advanced Energy
Destinus — Rheinmetall's New Missile Partner — Defense / Autonomous Systems
Fireworks AI — AI Infrastructure / Inference
Five AI Infrastructure Rounds: Fireworks, Mercor, Positron, Atoms, Together AI — AI / Infrastructure
Glean — The Context Layer for Enterprise AI — AI / Enterprise Software
Hadrian — Defense / Advanced Manufacturing
ICON — 3D-Printed Homes, from Texas to the Moon — Construction / Robotics
Kraken — Crypto Exchange
Lightmatter — Moving Data Between Chips with Light — AI Infrastructure / Photonics
Mercor — The Human Layer of AI Training — AI / Data & Labeling
Midjourney — AI / Image Gen & Medical Imaging
NScale — AI Infrastructure
Panthalassa — Computing Powered by the Ocean — Energy / AI Infrastructure
Paradromics — Neuralink Competitor Hits Implant Milestone — Health / Brain-Computer Interfaces
Prometheus — Jeff Bezos's Industrial AI Startup — AI / Physical AI
Radiant — Nuclear / Microreactors
Saronic Technologies — Defense / Maritime Autonomy
Scout AI — Defense AI
Tenstorrent — AI Infrastructure / Semiconductors
Zipline — Logistics / Autonomous Drones

Big-picture essays on the private markets, drawn from years of working the secondaries desk.