Emptying out the notebook before the Labor Day weekend...

💰 Saved you a click: There wasn't any discussion of taxing unrealized capital gains during last night's CNN interview with Kamala Harris and Tim Walz. Or of other tax issues, save for the child tax credit.

• Also, as a few readers pointed out, there currently is a tax on unrealized capital gains for those exercising nonqualified stock options ahead of a liquidity event. Not the same structure as what's being proposed, but worth noting in terms of precedent.

🏈 Gametime: The NFL's new private equity rules include a clause whereby the league can receive carried interest, but word is that there's an 8% hurdle rate attached.

• Also worth noting is that the NFL is the first major pro sports league to get blanket carry, although the NBA had it on its bespoke deal with Dyal/Blue Owl.
• Still haven't gotten a great answer for why Blackstone, Carlyle and CVC decided to partner up. It made sense for the two smaller players, Dynasty Equity and Curtis Martin's Ludis, but these firms each had deep enough pockets to play solo and now must form a consensus.
• Worst case, they could have clubbed up on a case-by-case basis. Maybe they hoped their combined firepower would give them exclusivity, but obviously, that isn't how it played out.

⚡ Bolt in the balance: Bolt shareholders have an end-of-day deadline to submit letters of intent for the company's controversial new funding round, and we've gotten some new numbers from a source familiar with the situation:

• Bolt had around a $210 million net loss on just $30 million in revenue for 2022, and over a $300 million net loss on even less revenue in 2023.
• The 2023 figure looks particularly bad because Bolt took around a $54 million goodwill impairment, although I'm not sure that disclosure is really much of a selling point.
• On the upside, Bolt still had around $325 million in cash on its balance sheet at the end of 2023, and multiple sources say it's brought its burn rate down substantially.

✉️ Reminder: You can send me feedback and scoops via email (just hit reply) or via my anonymous form (tips.axios.com). Plus I'm on Signal and Telegram (just email for the number), and my Twitter DMs are open.

• Have a great holiday!

Intel (Nasdaq: INTC) has asked Goldman Sachs and Morgan Stanley to evaluate strategic options that could include a sale or spinoff of its manufacturing unit, as first reported by Bloomberg.

Why it's the BFD: Intel isn't just one of America's oldest chipmakers but it's also a key national security asset. CEO Pat Gelsinger desperately needs to right the ship, even if that requires a drastic course correction.

Catch up quick: Company shares are down 58% this year and it's no longer a top 10 chipmaker by market cap.

• Headlines have been dominated by losses and layoffs, despite Intel receiving billions of dollars in commitments via the CHIPS Act.

The bottom line: "Gelsinger's comeback plan hinged on recasting Intel into two groups: one that designs chips and another that manufactures them. The production arm would then be free to seek business from other companies. But the biggest client of Intel's factory network is still Intel." — Bloomberg

• Magic, an SF-based generative AI coding company, raised $320m from Eric Schmidt, CapitalG, Atlassian, Elad Gil, Jane Street, Nat Friedman, Daniel Gross, and Sequoia Capital. axios.link/3z1MBlE

• Codeium, a San Jose, Calif., code acceleration platform, raised $150m in Series C funding at a $1.25b valuation. General Catalyst led, and was joined by insiders Kleiner Perkins and Greenoaks. axios.link/4g4GnC8

• Bridge, a San Antonio, Texas-based money movement startup, raised $58m from Sequoia Capital, Ribbit Capital, Index Ventures, and Haun Ventures. axios.link/4dXDMst

⚡ Last Energy, a Washington, D.C., developer of micro-nuclear power plants, raised $40m in Series B funding from Gigafund, the Autodesk Foundation, and family offices. https://axios.link/3X5vyaf

• Agrim, an Indian ag supply chain startup, raised $17.3m in Series A funding led by Asia Impact. axios.link/3yOZuiZ

• Turntable Labs, a Miami-based provider of the Hangout social media platform, raised $8.2m in seed funding from Founders Fund, Elizabeth Street Ventures, 468 Capital, and f7 Ventures. turntablelabs.co

• Quai, a Layer-1 crypto network, raised $5m from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures, and DexCheck. axios.link/3Z34rPC

• Vybe, a social media app for AI-generated photos, raised $4.75m in seed funding. Stellation Capital led, and was joined by Scribble Ventures, Coalition Operators, Neo, and Blueprint FTC. axios.link/3z9r1LX

• Thryve, a German provider of B2B health data integration and analytics solutions, raised €4m in Series A funding. Capricorn Ventures led, and was joined by IBB Ventures, CRB Health Tech, and the German Carma Fund. axios.link/3Z1b5pP

🚑 Brookfield Asset Management is in talks with several sovereign wealth funds to partner on its expected take-private bid for Spanish blood plasma company Grifols, per Bloomberg. axios.link/4g3Rhbo

• Cinven offered to buy the Minsait Payments from Indra(Madrid: IDR) for between €500m and €600m, per Expansion. axios.link/4dLDRPQ

• Onex acquired Farsound Aviation, a British provider of supply chain solutions for the aerospace engine MRO market, from AGIC Capital. axios.link/4g6DW1P

🚑 Valsoft, a Canadian software acquirer backed by Coatue and Viking Global Investors, acquired Anju Software, a Tempe, Ariz., provider of data and application software to life sciences, from Abry Partners. valsoftcorp.com

• GigCapital7, a SPAC led by Avi Katz, raised $200m in a downsized IPO. Katz's prior SPACs merged with such companies as BigBear.ai and QT Imaging. axios.link/3Z0d1il

• Arkview Capital sold a majority stake in Icon Parking, a New York-based parking operator it acquired last year, to Hudson Valley Parking Trust. axios.link/4e2fbSD

• Atlassian (Nasdaq: TEAM) acquired Rewatch, an SF-based meeting notetaking tool that had raised over $20m from firms like a16z and Haystack. axios.link/4e1wPWP

🚑 Getinge (Stockholm: GETI) agreed to buy Paragonix, a Waltham, Mass.-based organ preservation and transport company, for $477m. Paragonix has raised around $40m from firms like Signet Healthcare Partners. axios.link/4cJg5Cx

• MBK Partners is having trouble selling South Korean hypermarket operator Homeplus, due to valuation disagreements with suitors like Alibaba, GS Retail and BGF Retail, per Korea Economic Daily. axios.link/4e4P0eg

• Alchemy, a web3 infrastructure platform, acquired Romanian blockchain infrastructure provider Bware. axios.link/4g35CEY

⚡ Complete Solaria (Nasdaq: CSLR) received bankruptcy court approval for its $45m acquisition of SunPower assets. axios.link/3Z4NbJN

• SIX Group, operator of the Swiss stock exchange, is considering strategic options for its financial information unit, per Reuters. axios.link/3AFSMMy

• Spar Group, South Africa's second-largest grocer, is weighing a takeover bid for West Pack Lifestyle, a bankrupt homewares retailer, per Bloomberg. axios.link/3X9N5hF

• Amplify, an LA-focused pre-seed firm, is raising up to $60m for its sixth fund, per an SEC filing.

• Arāya Ventures of London held a $10.6m first close on a new pre-seed and seed fund. axios.link/3Xo9vwZ

• Sozo Ventures of Redwood City, Calif., is raising up to $500m for its fourth fund, per an SEC filing.