BlackRock Cuts AI ETF Stakes and Nvidia, AMD Shares; SambaNova Raises $1B
BLK•BlackRock trimmed holdings in its AI sector ETF and reduced stakes in Nvidia and AMD this week, reflecting caution on high valuations. AI startup SambaNova raised $1 billion in Series F financing at an $11 billion valuation.
1. BlackRock Reduces AI Exposure
In early July, BlackRock pared back its position in its flagship AI sector ETF and sold down stakes in heavyweight AI chipmakers Nvidia and AMD, signaling caution amid lofty valuations in the artificial intelligence space.
2. SambaNova Secures $1 Billion Series F
SambaNova announced a $1 billion Series F funding round that values the enterprise AI platform developer at $11 billion, with participation from existing backers and strategic investors to fuel product expansion and go-to-market efforts.
