Coatue Management

Money Moves

Holds 8.4% stake in Firmus; party to anti-dilution arrangement

Firmus, an Australian data center operator backed by Nvidia, pulled its $5 billion initial public offering on October 9. Investors refused to pay the $30.6 billion valuation for a business running just 5% of its contracted computing capacity.

Updated Oct 10

Money Moves

Lead investor on Kalshi's $1 billion Series F

Kalshi closed a $1 billion funding round on May 7 at a $22 billion valuation, led by Coatue Management with Morgan Stanley, Sequoia, Andreessen Horowitz, Paradigm, IVP, and ARK Invest. Annualized trading volume reached $178 billion, up from $52 billion six months earlier, and Kalshi now accounts for more than 90% of U.S. prediction market activity.

Updated May 31