Additionally, while Graceware is a member of Ukie, there are some peculiarities about their membership. Their listing in Ukie’s membership database is misspelled as “Gracewear,” and their listed website, Gracewear.net, was last used by a streetwear company in Los Angeles in 2019 and is currently empty. This is not what you would expect from a company that is, in theory, trying to join a professional community and bring their products to market.
Whether Huang saw any of this coming, given Nvidia’s web of partnerships, is impossible to know. But his stated reason on Wednesday for likely pulling the plug on future investments — that the IPO window closes the door on this kind of deal — is hard to square with how late-stage private investing actually works. What’s looking more probable is that this is an exit from a situation that has gotten really complicated, really fast.
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