Aleph Alpha Series B

The Series B for Aleph Alpha lands in that uncomfortable middle ground where you can't call it genius or catastrophe. SAP, Bosch, Hewlett Packard are deploying $500M at $1.3B, which feels like a price negotiated by people who read the same three analyst reports and decided to split the difference. germany's gpt cope—that's literally what they're betting on. The ai thesis makes sense on a whiteboard, but the execution risk is substantial and the competitive moat is more of a competitive puddle. Will this work? Maybe. Will early investors get liquidity? Eventually. Will anyone remember this deal in five years? Absolutely not.