VC React E68: OpenAI vs Anthropic, Uber's AI Budget, Golden Gate Ventures, Amazon vs Starlink & More

VC React Podcast
Written By Ahmad Takatkah
 
 

VC React Podcast - MENA:

Every week, we bring you insights and reactions from top VCs, LPs, and Angel Investors, reacting to the latest news on MENA startups, funds, and investment rounds.

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This Week On The VC React Podcast:

News of the week brought to you by FWDstart:

  • CNBC and others reported on an OpenAI shareholder memo from chief revenue officer Denise Dresser. In it, she goes directly at Anthropic, saying Anthropic’s reported $30 billion annualized run rate is overstated by roughly $8 billion because of how it accounts for rev-share with Amazon and Google. She also says Microsoft has limited OpenAI’s enterprise reach, while Amazon and AWS are now the preferred path forward, with demand on AWS described as “frankly staggering.” The memo also frames Anthropic as fear-driven and operating on a smaller compute curve.

  • The Information reported that Uber’s CTO said the company had already maxed out its full-year 2026 AI budget by April, largely because of massive usage of AI coding tools, especially Anthropic’s Claude Code and Anysphere’s Cursor. Uber reportedly gave 5,000 engineers access to Claude Code in December, and usage nearly doubled by February. AI costs are also reportedly up sixfold since 2024.

  • FWDstart reported that Golden Gate Ventures has backed Invisible Technologies, a U.S.-based AI infrastructure company valued at around $2 billion. Invisible says it has supported data and model work for more than 80% of the world’s leading foundation model labs, and counts Microsoft, AWS, and Cohere among its enterprise clients. The MENA angle is that the company is targeting growing GCC demand, especially as governments and enterprises push harder into AI adoption.

  • TechCrunch and Reuters reported that Amazon will acquire Globalstar for about $11.57 billion, paying $90 per share, to strengthen its low-Earth-orbit satellite strategy and build direct-to-device connectivity from 2028. The deal gives Amazon access to Globalstar’s spectrum and satellite assets. Amazon has launched more than 240 satellites so far and is under pressure to scale its broader constellation, while Starlink remains the dominant player with over 10,000 satellites and millions of users.

  • Wamda reported that UAE-based Homegrown Ventures closed its debut fund at $22.8 million, above its $20 million target. The firm is focused on CPG and FMCG and says it’s the region’s first purpose-built VC firm for consumer brands. It was founded by operators with backgrounds at companies like Unilever, Coca-Cola, Kraft/Mondelez, and Danone, and it’s targeting early-stage “better-for-you” brands across food, wellness, personal care, and lifestyle. The firm says it has already deployed into five portfolio companies and is targeting brands with roughly $2 million to $10 million in annual revenue.

Ahmad Takatkah
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VC React E67: Anthropic Risky Model, OpenAI-TBPN, Eclipse Fund, Lunate-Insight, Nubank In ADGM