|
|
|
Top stories today: - OpenAI said to raise $6.5B at $150B in new funding round
- Core CPI comes in higher than expected
- Polaris Dawn crew initiates spacewalk out of SpaceX Crew Dragon capsule
- Mistral launches Pixtral 12B as its first multimodal AI model
- Google ties up with The Internet Archive for historical context
|
|
0. Data and calendar |
 | All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). |
|
 | All times are ET. |
|
1. OpenAI said to raise $6.5B at $150B in new funding round |
|
7.5x valuation jump from 2022. $5B in debt could be raised alongside. Thrive Capital is said to lead the equity round.
|
OpenAI has faced increased competition, with Gemini, Grok, Claude, and the open weights Llama having broadly caught up in model quality |
OpenAI's ChatGPT still ranks #1 on LMSYS's Chatbot Arena Leaderboard, but with a tight margin: |
|
| | Gain clarity and control to help connect your work to your business goals. Collaborate easily, communicate clearly, and bridge silos across your organization. Collaborate easily, communicate clearly, and bridge silos across your organization.
| | *Sponsored. |
|
|
3. Core CPI comes in higher than expected, increasing likelihood of 25 bps cut |
|
CPI: 0.2% MoM / 2.5% YoY in Aug., in line with expected, from 0.2% / 2.9% in Jul. Core CPI: 0.3% / 3.2%, vs. 0.2% / 3.2% expected, from 0.2% / 3.2%. Wed: next FOMC meeting and press conference with Chair Powell.
|
Markets now price in 87% odds of a 25 bps on Wed, from 67% a day prior |
|
4. Polaris Dawn crew initiates spacewalk out of SpaceX Crew Dragon capsule |
 | LIVE: SpaceX Polaris Dawn crew attempts first private spacewalk |
|
|
The spacewalking experience resembles that of the 1960s. 2 astronauts exiting the capsule, 2 remaining. ~2 hours is the expected duration of the entire spacewalk.
|
5. Mistral launches Pixtral 12B as its first multimodal AI model, soon to be available on chatbot |
|
The 24GB model competes against Claude-3 Haiku, Gemini-1.5 8B, and Phi-3. Open weights, available via torrent under an Apache 2.0 license. Built on Nemo 12B, the model can process images and text. OCR text and math problem solving via photos are also possible.
|
| | Pipedrive AI helps 100k+ sales teams save time and boost win-rates phasing out manual processes, and identifying patterns and recommending high-potential deals and priority actions. Draft quick, compelling, and personalized emails from simple prompts in just a click. Summarize threads with Al to save valuable time. For BAT readers, it's completely free to get started.
| | *Sponsored. |
|
|
7. Google ties up with The Internet Archive to provide historical context in search results |
|
|
8. Alumni Ventures tops most-active U.S. VC funds in August, with 10 deals |
|
|
9. Trump Media stock sinks to lowest level since merger, following presidential debate |
|
-10% to $16.68 on Wednesday vs. previous close of $18.63. Still $3.34B in market cap with only $3M in annual revenue. 57%: Trump's ownership of the company's stock.
|
10. Stablecoin payments in Singapore +100% QoQ to $1B in Q2 |
|
$999.6M stablecoin payments by merchants in Singapore in Q2. +54x from Q2 2023 when stablecoin payments were $18.5M. ~$1.5B stablecoin payments in 2H 2024, vs. $161M in 2H 2023. Only 3% vs. the $56.2B in retail card payments in 2H 2023.
|
11. Interesting videos, posts, and memes |
 | The New Power Law & How I Built a $100B Portfolio | E2007 |
|
|
 | Decoding Google Gemini with Jeff Dean |
|
|
 | Sam Lessin on What Founders Don't Know About VCs & if Government Should Intervene in Tech | Invested |
|
|
 | How to become a solopreneur (3 $1M+ startup ideas) |
|
|
12. Other headlines |
AI |
Google brings Audio Overview to NotebookLM. NVIDIA CEO says customer relations are "tense" due to chip shortages. Google, Nevada developing AI to help decide unemployment benefits. Premiere Pro to get GenAI features backed by FireFly Video before year-end.
|
|
Tech |
Samsung plans global job cuts of up to 30% in some divisions. China urges its EV carmakers to keep tech at home amid global expansion. Spoon Labs, audio streamer and short video app maker, raises $89M+.
|
Sidebar is a personal board of advisors for the next generation of leaders. Join now! * Pipedrive helps you drive more deals from day one.* Mercury saves your finance team valuable time.*
| *Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes. |
|
|
Tech & law |
Ex-Google exec said goal was to "crush" competition, trial evidence shows. Google nearly cut ad exchange fees before antitrust crackdown. Epic Games, EA, and others hit with EU complaint over "tricking consumers."
|
Biotech |
Moderna plans 10 new products by 2027, cut $1.1B in costs. Rapamycin, fasting, spermadine could be linked in slowing aging. Roche says early-stage obesity pill results were based on 6 patients. FDA staff questions trial data for Intercept's liver disease drug.
|
Business |
AST, small SpaceX rival, to launch 1st 5 satellites after stock 14x's. China detains investment bankers, seizes passports in corruption sweep. Apollo Global raises $35B+ from Asia since 2022. India considers tighter oversight on micro-cap firms going public.
|
Crypto |
Adam Neumann's Flowcarbon issuing refunds to some investors. BTC mining difficulty +3.5% to record high, squeezing profit margins. UK tables bill in parliament to clarify crypto's legal status. Chainalysis: India and Nigeria lead in crypto adoption.
|
U.S. politics |
|
World |
Egypt gets $1.3B from U.S. in military aid amid Gaza war. Russia forces stage Ukraine counterattack to retake territory. South Korea approves 2 new reactors in nuclear expansion effort. Venezuela threatens to cut ties with Spain over Gonzรกlez's support.
|
Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below). |
| Share Bay Area Times | Share our newsletter with your friends and get free Bay Area Times rewards! | You currently have 0 referrals, only 1 away from receiving our Generative AI Unicorns Database. | | | Or copy and paste this link to others: https://www.bayareatimes.com/subscribe?ref=UbEAXR818y | |
|
What did you think of today's newsletter? |
|
Advertise on the Bay Area Times |
Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team. |
Please read our Terms of Service and our Privacy Policy before using Our Service. |
Comments
Post a Comment