Sequoia Aims $10 Billion at AI, Reindustrialization - Bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Alfred Lin and Pat Grady are repositioning the 54-year-old firm for a world dominated by artificial intelligence. Illustration: Anna Haifisch for Bloomberg Businessweek Listen 10:52 Sequoia Capital’s new leaders convened the partnership at a conference room in its Silicon Valley headquarters one Monday morning in May to debate what would be the biggest investment in the venture firm’s 54-year history. Sequoia had spent years passing up the chance to bet on the artificial intelligence darling Anthropic PBC, favoring OpenAI, xAI and other AI startups instead. In January it changed course and invested in the company. Now it had decided to increase its stake. The only question was how much more it would put down. Alfred Lin, who’