I’m starting a new early-stage AI fund, doing what I love: partnering with founders from company formation on bold bets, long before consensus.

The fund’s LPs will include Sequoia, Jeff Dean, Sachin Katti, Philip Wong (my Stanford professor and Chief Scientist adviser to TSMC), and others whose work has shaped our industry and how I think about AI’s future.

I’ll remain a partner at Sequoia and keep serving on my boards on Sequoia’s behalf.

Sequoia has been my home for the past 11 years. I joined as the youngest investor the firm had ever hired. I grew up here. Through years of intense debate and shared work, I found lifelong mentors and friends who took me under their wing and taught me this craft. They taught me to aim high and take big swings. I’ll carry that into what I build: outsized ambition, relentless truth-seeking and curiosity, and a refusal to become complacent.

Working alongside founders has made me want to build something of my own: a firm shaped from day one around the convictions I’ve developed over the past decade.

Life has taught me not to take time for granted. This is how I want to spend mine.

Why now

We’re seeing a new way of building companies in today’s AI era. Research and products often advance together. A breakthrough can open a market or accelerate a business far faster than expected. Some companies require extraordinary capital and compute early on. Others reach meaningful scale with remarkably small teams. The rules for how big these businesses can get, and how fast, are being rewritten.

But early on, the technology is unproven, the resources required enormous, and the vision seemingly implausible.

This is what I love most: seeing the potential right from the beginning, and helping founders realize their full scale of ambition.

More than ever, it starts with an extreme willingness to believe early, with bold, independent conviction in a founder’s technical insight before any product or market validation. Then, it means helping founders take the biggest swings, giving the rare, long-term patience to see those bets through uncertainty, ambiguity, and turbulence, and serving as a level head when the stakes are highest.

I learned this kind of partnership at Sequoia. It’s the foundation of the firm I’m building.

Believing before consensus

My fascination with AI’s potential took root at Stanford in the early-to-mid 2010s, studying computer science and working in Andrew Ng’s lab. The friendships I formed connected me to a community whose people and ideas would help shape modern AI and build some of our generation’s defining companies. What stayed with me was the gap between what those people saw was possible and what the wider world could imagine.

I’m drawn to founders pursuing ambitions that sound impossible today.

I start with a simple question: “What if everything goes right?”

Then we work backward together to make it happen.

In 2023, Deepak and Abhinav set out to build a general-purpose robot brain at @SkildAI, before physical AI was a consensus bet. Their sim-to-real breakthroughs gave me conviction where earlier robotics approaches had fallen short. But the data flywheel required deployment at scale. We made commercialization as urgent as research and brought in strategic partners like NVIDIA and SoftBank to support the ambition. Three years in, Skild is advancing the frontier of physical AI with nine figures in annualized revenue.

In 2024, Ioannis and Misha founded @reflection_ai with an insight into scaling reinforcement learning. As that grew into the ambition to build a Western frontier lab for open models, the hard question was how a startup competes with labs spending tens of billions. An introduction to NVIDIA and many compute calls and recruiting events later, the team has built Beam, now one of the leading US open models.

In 2025, Anna and Azalia, the co-creators of AlphaChip, founded @RicursiveAI to design models and hardware together. From day one, we made early customers and ecosystem partners a priority. Today, they are showing order-of-magnitude improvements on real workloads, working with some of the industry’s most consequential players, and reaching a defining inflection point.

The ambition keeps growing as these companies scale.

@linear has always had a kind of magic to it. Now it’s the system a new generation of AI companies builds on, for teams and agents alike.

@tavus saw early that we’d one day talk to AI the way we talk to each other. Today, it’s building the human computing interface for a world of AI colleagues.

@Mach_Industries began as hydrogen experiments in an MIT dorm room. It has since become one of the most exciting next-generation defense companies.

Making the ambition possible

Being a first believer is only the beginning. Compute falls through. A deep-pocketed incumbent makes your mission its top priority. A breakthrough changes the opportunity and the capital required overnight.

These are stomach-churning moments, and early belief carries a responsibility to help make the bet work.

This is the partnership I love: turning the full ambition into concrete steps. Raising capital, securing compute and strategic partners, recruiting exceptional people, and winning the first customers together. Thinking several moves ahead while solving what’s in front of us. And as breakthroughs open new possibilities, helping founders dream even bigger.

Thank you

To the founders I’ve worked with: thank you for trusting me and Sequoia to be your first partner and first believer. It’s been the joy of a lifetime, and I can’t wait to keep building together.

Thank you to Alfred and Pat for your leadership of Sequoia and your support of my next chapter. To Roelof, for bringing me into Sequoia and believing in me from the beginning. Alfred and Roelof, you have been mentors in investing and in life. So much of what I know, and the investor I’ve become, comes from your guidance and generosity over the years. To Bill, for the close partnership and wealth of knowledge, always wrapped in humility. To Shaun, for showing me how to think deeply and imaginatively. To Michael Moritz, for inspiring 22-year-old me to dream big. To Doug, for teaching me to keep things simple. To Bogie and Jess, for bringing joy to the everyday and perspective on what matters. And to all my Sequoia teammates, for the friendship, camaraderie, and lessons I’ll carry with me.

To my family, especially my husband and my brother, who have each started companies of their own: thank you for giving me the courage to take this leap.

Let’s get to work!

We just raised a $60M Series B at a $1B valuation to build @daytonaio into the Agent Cloud.

@FirstMarkCap led the round, with all key existing investors and angels doubling down.

We're also thrilled to welcome the founders of some generational companies aboard, including bi (Shopify), @AravSrinivas (Perplexity), @BrendanFoody (Mercor), @oliveur (Datadog), @adamdangelo (Quora) and @ericsyuan (Zoom)

We're a 35-person team. But that's about to change; we're hiring across the board, and we'd love for you to join us.

I’m proud that Zoom is partnering with First Lady Melania Trump’s Fostering the Future Together, working together to expand opportunities for children through education and technology.

whitehouse.gov/briefings-stat…

Zoom was named a Visionary Leader in the Frost Radar™ for Integrated Cloud Communications — ranking highest in both Growth and Innovation.

click.zoom.com/resources/visi…

Humanoid robots don't need to look human.

Meet Eno, our first general-purpose robot.

Not a machine pretending to be human, but intelligence given a body.

At Genesis, we’re building a future where robots don’t feel cold or distant, but capable, calm, and ready to help.
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1/ Today we're announcing Gigascale Capital's $250M first institutional fund to back early-stage founders rebuilding the physical economy.

We are back. After one year of quiet building.

Introducing GENE-26.5, our first robotic brain that takes a major step toward human-level capability.

For years, robotics has struggled to learn from the world’s largest and valuable data source: Humans.

Solving it means ack from the ground up:

- A robotics-native foundation model.
- A 1:1 human-like robotic hand.
- A noninvasive data collection glove for motion, force, and touch.
- A simulator that turns weeks of experiments into minutes.

GENE-26.5 is trained across language, vision, proprioception, tactile, and action. We designed a set of tasks to test how far we can go with this new paradigm.

Fully autonomous, 1x speed, one model, same weights. (Enjoy with sound on)

We are approaching the endgame for robotics.

And this is just a beginning.

Congrats Andrew!

It’s time to return to the place where I know I can have the most impact. I am beyond excited to be rejoining @sequoia as a Partner. Here is what I shared with @gradypb @Alfred_Lin on how I am approaching my next chapter.

Aparna Bawa, Chief Operating Officer, Zoom expresses her excitement at joining the AI Impact Summit 2026 in Delhi.
#IndiaAIImpactSummit2026 #PeoplePlanetProgress ⁦@aparnabawa⁩ ⁦@Zoom⁩ ⁦@PIB_India⁩ ⁦@MEAIndia⁩ ⁦@IndianDiplomacy⁩ ⁦@GoI_MeitY⁩

🩺 @sullyai has returned over 30 million minutes to physicians — more time with patients, less on paperwork.

@baseten powers this with their optimized inference stack built using NVIDIA Blackwell, NVFP4, TensorRT LLM, and NVIDIA Dynamo, to run frontier open models like gpt oss cost reduction and 65% faster responses for workflows like clinical note generation.

🔗 Read the blog: nvda.ws/468smA3

Read what @Zoom @ericsyuan has to say about US Tech Force

Such a great video from Dr. Karp!

Zoom achieved a new state-of-the-art (SOTA) result on Humanity’s Last Exam (HLE): 48.1% — outperforming other AI models with a 2.3% jump over the previous SOTA. ✨

HLE is one of the most rigorous tests in AI, built to measure real expert-level knowledge and deep reasoning across that means for you:
✅ More accurate summaries
✅ Better reasoning
✅ More powerful automation in AI Companion 3.0

Click the link to learn more. 🔗 zm.me/3MxVbyS

Last quarter I rolled out Microsoft Copilot to 4,000 employees.

$30 per seat per month.

$1.4 million annually.

I called it "digital transformation."

The board loved that phrase.

They approved it in eleven minutes.

No one asked what it would actually do.

Including me.

I told everyone it would "10x productivity."

That's not a real number.

But it sounds like one.

HR asked how we'd measure the 10x.

I said we'd "leverage analytics dashboards."

They stopped asking.

Three months later I checked the usage reports.

47 people had opened it.

12 had used it more than once.

One of them was me.

I used it to summarize an email I could have read in 30 seconds.

It took 45 seconds.

Plus the time it took to fix the hallucinations.

But I called it a "pilot success."

Success means the pilot didn't visibly fail.

The CFO asked about ROI.

I showed him a graph.

The graph went up and to the right.

It measured "AI enablement."

I made that metric up.

He nodded approvingly.

We're "AI-enabled" now.

I don't know what that means.

But it's in our investor deck.

A senior developer asked why we didn't use Claude or ChatGPT.

I said we needed "enterprise-grade security."

He asked what that meant.

I said "compliance."

He asked which compliance.

I said "all of them."

He looked skeptical.

I scheduled him for a "career development conversation."

He stopped asking questions.

Microsoft sent a case study team.

They wanted to feature us as a success story.

I told them we "saved 40,000 hours."

I calculated that number by multiplying employees by a number I made up.

They didn't verify it.

They never do.

Now we're on Microsoft's website.

"Global enterprise achieves 40,000 hours of productivity gains with Copilot."

The CEO shared it on LinkedIn.

He got 3,000 likes.

He's never used Copilot.

None of the executives have.

We have an exemption.

"Strategic focus requires minimal digital distraction."

I wrote that policy.

The licenses renew next month.

I'm requesting an expansion.

5,000 more seats.

We haven't used the first 4,000.

But this time we'll "drive adoption."

Adoption means mandatory training.

Training means a 45-minute webinar no one watches.

But completion will be tracked.

Completion is a metric.

Metrics go in dashboards.

Dashboards go in board presentations.

Board presentations get me promoted.

I'll be SVP by Q3.

I still don't know what Copilot does.

But I know what it's for.

It's for showing we're "investing in AI."

Investment means spending.

Spending means commitment.

Commitment means we're serious about the future.

The future is whatever I say it is.

As long as the graph goes up and to the right.

Today, as shared by The New York Times, we’re announcing two things:

>Our Series B at a $2.1B valuation led by @sarahdingwang at @a16z.
>Reaching $100M ARR, profitably, with a team of just 50 people. That's $2M ARR per employee.

PowerPoint was invented before the first website, beforehe Berlin Wall fell.

But Gamma, and our 70 million users, are proof that an AI-native company can disrupt a category everyone assumed was won.

30 million gammas are created every single month, as we fight hard to become a new standard for communication.

But we’re not stopping. We’re expanding our plans for businesses. We’re building out a full visual storytelling platform. And today, we’re releasing our API to the general public. So you can plug Gamma into wherever work happens.

And to celebrate, we’re also sharing our first ever prompt guide backed by research into how our most successful users use Gamma to automate presentations, websites, and content in minutes.

When two visionaries talk AI, the future of work comes into focus. ✨

Zoom founder & CEO Eric S. Yuan and Andreessen Horowitz Co-founder & General Partner Marc Andreessen shared bold insights live at Zoomtopia.

Watch the full conversation via link in comments.

#Zoomtopia2025

AI & The White House

When the public and private sectors work together to move AI forward, we are paving the way for our next generation to inherit a more prosperous America.