Atlassian’s $610M bet, and why everyone’s fighting over your browser

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 5 September 2025

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Google just dodged a Chrome breakup bullet, but the biggest twist? The federal judge bought the idea that AI rivals could keep the tech giant in check, even as new competitors gain ground. From Atlassian’s $610 million bet on The Browser Company to OpenAI’s latest maneuvers, the competition for how we navigate the web is just getting started. Today on Equity, Max Zeff and Anthony Ha break down the week’s biggest moves and how AI is fracturing the search monopoly while reshaping how we browse the web and invest in its future. Listen to the full episode to hear about: What Atlassian's $610M Browser Company deal signals about the shift from consumer to enterprise AI browsers OpenAI's $1.1B StatSig acquisition and ex-Facebook executive hiring spree The return of Klarna's $1.2B IPO plans, and whether the fintech market is finally heating back up The new online safety laws raising privacy concerns and hurting companies that comply The mystery customers making up nearly 40% of Nvidia’s revenue Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is a paid ad by Fidelity Private Shares.
0:03.2	A messy or missing cap table might not just slow you down.
0:05.8	It could cost you your next fundraising round.
0:09.9	Hello and welcome back to Equity, TechCrunch's flagship podcast about the business of
0:14.7	startups.
0:15.8	Today is Friday, September 5th.
0:17.7	I'm Max Zep.
0:19.1	Kirsten's on vacation this week, so we'll be taking care of things over
0:22.3	here, but I am joined as always by weekend editor Anthony Ha. Anthony, how are we doing? Pretty good,
0:28.7	getting a kind of a last little bit of summer weather-wise, and I'm trying to enjoy it. That's good.
0:33.0	And Invidia is also just having quite the week. There were some interesting things that we learned
0:39.4	in their earnings report that you spotted. That's right. I know we talked about Nvidia earnings
0:44.6	last week, but one thing that really jumped out at me that came to light, I think, after we'd
0:49.1	recorded our episode, was the fact that, you know, Nvidia, arguably keeping the stock market afloat,
0:55.0	making a ton of money, incredible growth,
0:57.0	but what's kind of remarkable is how much of that growth
1:00.0	really seems to come from just a handful of customers.
1:02.0	And so there are these customers they don't identify.
1:04.0	They just call customer A and customer B,
1:07.0	and they account for 40% of Nvidia's revenue.
1:10.0	And then if you go just a little bit further down,
1:13.3	there's like four other customers that account for about 10% each. And so we're talking about
	...

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