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New Line Cinema's "Lord Of The Rings" Gets 13 Oscar Nominations
(New Line/Getty Images)
one name to rule them all

Behold! Another “Lord of the Rings”-inspired company is revealed

Venture capitalist Peter Thiel’s affection for Tolkien-inspired names is legendary.

Jon Keegan
7/3/25 8:26AM

When it comes to tech startups, what’s in a name?

Today, a lot of them end with “AI.” Sometimes, you pivot and change the name to reflect your company’s new focus. And sometimes you just want to evoke a mythic power and flex your nerdy bona fides.

There’s one source of inspiration that tech startups have turned to more than others: the works of JRR Tolkien. Especially when venture capitalist Peter Thiel is involved.

This week the Financial Times reported that Thiel, along with Palmer Luckey, the cofounder of weapons and surveillance systems manufacturer Anduril, returned to Middle Earth for the name of the new national bank they’re starting to take the place of Silicon Valley Bank, which served a large part of the tech startup and venture capital world before collapsing in 2023.

“Erebor Bank” takes its name from Erebor, otherwise known as the “Lonely Mountain,” which featured prominently in Tolkien’s 1937 novel “The Hobbit.” Erebor is home to Smaug the dragon, who, like President Trump, surrounds himself with gold.

Let’s see if you can pick the real company names inspired by Tolkien’s works from the fake ones we made up.

(If you need some help, we’ve got two spoilers below the quiz)

Palantir, cofounded by Thiel, is named for the cursed seeing stones that allowed Sauron to pry into the minds of the Hobbits in “Lord of the Rings.”

Luckey’s Anduril is named for the mystical sword reforged from the legendary Shards of Narsil, a name chosen by Aragorn, which translates to “Flame of the West.”

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Nebius soars after signing a five year deal with Microsoft to supply nearly $20 billion worth of AI computing power

Artificial intelligence infrastructure group Nebius jumped more than 50% in early trading on Tuesday as the company announced a major deal to supply computing power for Microsoft’s AI operations after the close on Monday.

Under the agreement, Nebius — which rose from the ashes of Russian tech giant Yandex — will provide Microsoft “access to dedicated GPU infrastructure capacity in tranches at its new data center in Vineland, New Jersey over a five-year term.” The New Jersey data center has a capacity of 300 megawatts. The total contract value through 2031 is $17.4 billion, although, if further capacity is required, the contract value could rise to $19.4 billion.

The deal represents a sizable portion of Microsoft's proposed annual capital expenditure on AI, which is expected to reach $120 billion by the end of fiscal 2026.

Nebius and competitor CoreWeave are both on the short list of startups that Nvidia has invested in. Nvidia’s small stake in the former is now worth around $120 million.

Under the agreement, Nebius — which rose from the ashes of Russian tech giant Yandex — will provide Microsoft “access to dedicated GPU infrastructure capacity in tranches at its new data center in Vineland, New Jersey over a five-year term.” The New Jersey data center has a capacity of 300 megawatts. The total contract value through 2031 is $17.4 billion, although, if further capacity is required, the contract value could rise to $19.4 billion.

The deal represents a sizable portion of Microsoft's proposed annual capital expenditure on AI, which is expected to reach $120 billion by the end of fiscal 2026.

Nebius and competitor CoreWeave are both on the short list of startups that Nvidia has invested in. Nvidia’s small stake in the former is now worth around $120 million.

President Trump hosts tech executives and their guests to a dinner at the White House in the Oval Office.

Here are the Trump ties among the tech leaders who had dinner at the White House

Many of the attendees have donated to, vocally supported, or even worked for the president.

tech

Tesla’s EV market share declined to 38% in August

In August, Tesla’s share of the US EV market fell to 38%, according to new data from Cox Automotive reported by Reuters. Tesla’s market share fell below 50% for the first time last year, as competitors’ EVs began hitting the market. Now, as Tesla’s own sales slip more drastically than they had last year, it’s giving up even more ground. Tesla’s market share fell from 48.7% in June to 42% in July to 38% in August, according to Reuters. That slide has come even as buyers rushing to take advantage of the federal tax credit that ends this month provide a near-term boon for sales at Tesla and other EV makers.

$115B

OpenAI now expects to burn around $115 billion through 2029 — a full $80 billion higher than the company had previously estimated, The Information reports.

Just how much is that? It’s roughly equivalent to:

Fortunately for OpenAI, which is raising money at a $500 billion valuation, its revenue is also growing faster than expected. The ChatGPT maker now expects to make $13 billion in revenue this year and $200 billion in 2030.

An annotated photo of who attended the tech dinner at the White House.

An interactive who's-who of the tech execs at Trump's White House dinner

The White House invited a gaggle of top founders and tech executives for an intimate dinner at the White House.

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