{
  "docId": "019dd923-5e88-73ef-bd5c-d1d55ad428b9",
  "docSlug": "c17329da4b0462b2",
  "documentTitle": "2025 Accel Race for compute",
  "authorId": "Accel",
  "authorName": "Accel",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "vc_research",
  "sourceTypeLabel": "VC research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 16,
  "pageCount": 64,
  "prevPage": 15,
  "nextPage": 17,
  "slideType": "market_landscape",
  "function": "quantify_impact",
  "density": "balanced",
  "nDataPoints": 24,
  "notes": "The chart distinguishes between private buyouts and take-privates, with 2025E showing an annualization projection.",
  "elementsJson": [
    "headline_text",
    "bar_chart_stacked",
    "comparison_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5c-d1d55ad428b9/16",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5c-d1d55ad428b9",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5c-d1d55ad428b9.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5c-d1d55ad428b9#slide-16",
  "components": [
    {
      "bbox": {
        "h": 0.55,
        "w": 0.45,
        "x": 0.04,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Aggregate sponsor-led M&A for deals >$500M",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4c2f12d5-ad32-44d4-b6c2-7ff798eaee8c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Aggregate M&A Value: $75B",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-41ab-72d9-bbad-33c0cbba8cbc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.04,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Notes: 2025 Annualisation Excludes deals >$20B EV; Chart only includes deals >$500M EV. Source: Accel Analysis, Qatalyst",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ef821fba-b339-46cd-9ab5-6c8634fe6715",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.45,
        "x": 0.52,
        "y": 0.3
      },
      "kind": "table",
      "text": "Largest sponsor-led M&A by enterprise value",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4790dd97-4078-4b3d-b05b-bed1d1ac99d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.6,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "Sponsors activity continues to be strong for legacy software companies",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4da3d6ac-710d-4cd8-9dcf-7364ee6bafe6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "8982cd05-4afd-4b23-9216-f948ceef1f1b",
      "evidence": "table/data: Largest sponsor-led M&A by enterprise value",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 32,
      "from": 4,
      "beatId": "019de0b2-4e94-708e-a81b-2a03d1d6ada8",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": null,
      "evidence": "Market data, NASDAQ, Super Six, M&A, AI-native efficiency",
      "position": 1,
      "confidence": 82,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 32,
      "from": 14,
      "beatId": "019de0b2-4f5c-764d-bb4f-65be37d89871",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Problem & Complication",
      "beatSlug": null,
      "evidence": "Growth pressure, mixed legacy SaaS, AI-native breakthroughs",
      "position": 2,
      "confidence": 60,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 23,
      "from": 15,
      "name": "Aha Moment",
      "slug": "03-aha-moment",
      "bestFor": "Data-heavy sections, research findings, analytical arguments",
      "matchId": "019de0b2-5020-7382-8d83-b83c3beb14c5",
      "evidence": "Sets up declining SaaS growth, M&A, agentic uptake, then climaxes with $184B all-time-high VC and $500B valuations.",
      "position": 2,
      "objective": "Reveal that AI-native is the new growth engine, while legacy SaaS plateaus",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
      "confidence": 72,
      "description": "Establish a tension, present data, then deliver the insight that changes everything"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}