They are not raising $100B, they are raising money at a valuation of $100B.

what is the investor thesis for coming in with such a multiple? You know they will have to find a a greater fool, possibly the public to buy at an even higher ratio to break any profit on that....

	▲	chris_va 6 days ago \| parent [-]
		This isn't really venture investing at this point. The valuation risk calculation is very different for preferred shares than common stock, and with a healthy ARR they have very little risk (maybe not much profit, but it's not that different than a bond on some level...).