Featured · Money
Who gets paid when a model gets smarter: a follow-the-invoice map.
Chips, power, tokens, wrappers. The margin lives in exactly one of these.
· 4 min read
Perplexity
AI Search · Private company
An answer engine betting that search becomes a wrapper over models. A textbook case for the wrapper margin question.
Secondary market
Indicative per-share prices from private-share marketplaces, each calculated daily by the platform itself. They price the same share differently, and neither is a tradable quote.
Forge Price
$69.50per share▲ 6.92%+4.50 since prior mark
As of Sep 15, 2026 · calculated daily
- Implied valuation
- $20.51B
Hover or drag to inspect recorded prices. Click to pin a point; click again to release. Use arrow keys to move, Home or End to jump, and Escape to clear.
Source: Forge Global ↗
Hiive Price
$79.06per share▼ 0.25%−0.20 since prior mark
As of Sep 15, 2026 · calculated daily
- Highest bid
- $90.50
- Lowest ask
- $69.00
Hover or drag to inspect recorded prices. Click to pin a point; click again to release. Use arrow keys to move, Home or End to jump, and Escape to clear.
Source: Hiive
Last primary round: Series E · 2026 · $20B, curated from reported financings · For information only, not investment advice
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