Alternative Investing Report - January 17, 2025

*as of 1/16; Sources: S&P, BTC, FTSE, DJRE, CL50

The AI chip startup Blaize (BZAI) went public Tuesday in a special purpose acquisition company (SPAC) deal on Nasdaq that valued the company at $1.2 billion. Shares opened Tuesday at $17.50 per share, but have fell significantly to $6.50 per share in the first three days of trading. The 14 year-old company has raised more than $335 million in funding in its history, and posted a $87.5 million net loss on just $3.8 million of revenue in 2023.

➨ TAKEAWAY: It seems that AI-mania has found its limit, as investors have largely shunned this offering. While being the first AI-related startup to go public this year earned Blaize headlines, it was not a company with any name recognition, its financials do not appear promising, and it’s likely not going to sustain a $1.2 billion price. One more reminder that many companies will take advantage of an association with a hot sector to try and attract investors to less than stellar deals.

Vincent founder Slava Rubin and Sacra co-founder Jan-Erik Asplund tore into the business of Elon Musk’s SpaceX, the most valuable private company in the world. They talked about the company’s growth, strengths, challenges, IPO prospects, and answered investor questions.

📊 Small business confidence surges: The Small Business Optimism Index gained 3.4 points in December, hitting 105.1, the highest mark since October 2018. The election results are a partial cause, as small business owners tend to lean Republican, but just getting through the election is also a big factor, as the survey’s Uncertainty Index dropped from 98 to 86.

🤝 Hamilton Lane x Republic: Hamilton Lane, the alternative asset manager with nearly $1 trillion of assets under management, is partnering with Republic, the private market investment platform, in an effort to bring a broader array of private market investments to retail investors.

🏡 The #1 2025 rental market: Minneapolis topped RentCafe’s list of the top rental markets for 2025, followed by Atlanta and Overland Park, KS, as renters prioritize affordability and quality of life.

🤖 Synthesia’s raise: The AI video startup raised a $180 million Series D, more than doubling its valuation to $2.1 billion, in yet another blockbuster funding round for a generative AI company.

🪙 Ripple and Solana in crypto reserve?: While many are looking forward to the possibility of the new administration establishing a national Bitcoin reserve, there are now rumors that incoming President Trump is looking to potentially add Ripple and Solana in an “America-first” crypto reserve strategy.

🎨 New Christie’s CEO: Bonnie Brennan has been named as the auction house’s new CEO effective February 1, replacing Guillaume Cerutti, who has been CEO for the past eight years.

🏀 Wembanyama jersey controversy: A game-worn jersey gifted to a child by the budding NBA superstar Victor Wembanyama has been listed for sale at Goldin Auctions only a few weeks later, which could dissuade players from giving away such memorabilia in the future.

🏡 Homebuilder optimism rises slightly: The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index climbed by 1 point to 47, still below the midpoint of 50, but a step in the right direction.

Monday: 📊 U.S. jobs report, 🚀 Space race
Tuesday: 🪙 Crypto headwinds, 🏢 Office vacancies
Wednesday: 💵 Databricks financing, 🚜 Farmland outlook
Thursday: 📊 CPI report, 📜 Declaration of Independence

Have a great weekend!

Advertisement disclaimer:

This is a paid advertisement for Boxabl’s Regulation A offering, part of a campaign for which Boxabl paid $2,800 in total.

Please read the offering circular at https://www.boxabl.com/invest#circular?utm_source=withvincent * Reservations represents a non-binding indication of interest to purchase as Casita. A reservation does not require purchase of a Casita and there is no assurance of how many will result in actual purchases.