|
|
|
Top stories today: - OpenAI's $150B valuation reportedly hinges on corporate restructure
- SpaceX's Polaris Dawn crew returns home after historic spacewalk
- Larry Ellison says he, Elon begged NVIDIA CEO for AI GPUs at dinner
- S&P 500 Index has bounced back, but not due to Big Tech
- Trump is safe after 2nd assassination attempt
|
|
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's $150B valuation reportedly hinges on restructuring corporate model |
|
$6.5B funding could be finalized in 2 weeks. Valuation renegotiation could be needed if restructuring is unsuccessful. Turning non-profit to a for-profit also reportedly discussed with lawyers. OpenAI capped returns at 100x the investment for investors previously.
|
| | Automation and integration that scales processes and delivers insights. From sale to billing and revenue recognition to general ledger and forecasting, get one system of record.
| | *Sponsored. |
|
|
3. SpaceX's Polaris Dawn crew returns home safely after historic spacewalk |
|
3:37 AM on Sun.: the capsule landed off Florida's coast with four astronauts. The world's first commercial spacewalk was conducted by the mission last week. The mission took humans to the highest altitude in the half century. Jared Isaacman collaborated with Elon's SpaceX for the mission.
|
Isaacman was accompanied by former Air Force pilot Scott "Kidd" Poteet and SpaceX engineers Anna Menon and Sarah Gillis |
|
4. Larry Ellison says he, Elon begged NVIDIA CEO for AI GPUs at dinner |
|
"Please take our money; no, take more of it," he said. NVIDIA GPUs-powered Oracle's Zettascale AI recently announced. 131,072 Blackwell GPUs fuels the supercluster vs. 100,000 H100 GPUs in Elon's Memphis.
|
5. S&P 500 Index has bounced back, but not due to Big Tech |
-5%: the Magnificent7 tech stocks since the S&P 500 peaked on Jul. 16, vs. +11% real estate and utilities: |
|
|
Mag 7 profits were +36% in Q2, slowing down vs. Q1, as profitability in other sectors accelerates |
|
6. iPhone 16 first-weekend pre-order sales -12.7% (vs. iPhone 15) to 37M units |
|
Lower demand for the iPhone 16 Pro is cited as a factor limiting pre-order sales. Apple Intelligence's delay also reduced interest in the iPhone 16 series. iPhone 16 Pro delivery times are much shorter than the 15 Pro series.
|
7. Trump is safe after 2nd assassination attempt amid election campaign, with suspect held |
|
Rayan Wesley Routh, 58, detained in connection with the incident. Suspect was spotted hiding with an AK-47-style rifle at the Trump International Golf Club in West Palm Beach, Florida. He fled the scene but was later captured.
|
Trump's betting odds remained stable at 49% following the attack |
|
8. Acquisitions at depressed valuations are trending among U.S. unicorn startups |
0.56x median valuation increase at exit for unicorns in 2024, down from 1.46x in 2021: |
|
|
9. Fei-Fei Li raises $230M for AI startup World Labs to build "large world models" |
|
World Labs plans to generate user-controllable 3D spaces. Artists, designers, and developers among its target audience. a16z, NEA, and Radical Ventures co-led the round. Li co-founded the startup with Ben Mildenhall, Justin Johnson, and Christoph Lassner.
|
10. MrBeast's 36-page leaked doc reveals virality strategy |
|
|
11. Interesting videos, posts, and memes |
 | Peter Thiel | All-In Summit 2024 |
|
|
 | Marc Benioff | All-In Summit 2024 |
|
|
 | Relationship Advice of the Investor Sort with Meghan Reynolds of Altimeter | E2008 |
|
|
 | Cursor AI tutorial for beginners |
|
|
 | How Driver Assist Knows When to Brake, Park and Steer | WSJ Tech Behind |
|
|
12. Other headlines |
AI |
g1 AI: using Llama 3.1 to create o1-like reasoning chains. CoreWeave in talks for share sale at $23B valuation, up from $19B in May. Groq ties up with Aramco to build data center in Saudi Arabia by 2024. BHP warns AI growth will worsen copper shortfall.
|
|
Tech |
Trump says not selling DJT shares after lockup ends on Sep. 25. Intel qualifies for $3.5B federal grants to make semiconductors for military. Insight Partners closing in on $10B+ new fund. LG said to pick banks for $1.5B public listing of Indian unit.
|
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 simplifies your financial workflows.*
| *Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes. |
|
|
Tech & law |
TikTok v. Garland: oral arguments to be heard by Court of Appeals today. EU break-up order to Google unlikely for now: sources. Brazil's Supreme Court withdraws $3.3M from Elon-linked accounts to pay fines. French European Commissioner Thierry Breton stepping down over rift. 23andMe settles data breach lawsuit for $30M.
|
Biotech |
Nordic's vaccine for mpox cleared by WHO. FDA advisers unconvinced by Intercept's liver disease drug benefits, safety. Eli Lilly's eczema drug receives FDA approval. Viome raises $25M through internal Series D round. Walgreens agreed to pay $106.8M to settle prescription billing fraud charges.
|
Business |
Shogun wins record 18 Emmys; Hacks, Baby Reindeer also win big. DirecTV, Dish in talks to merge again: source. Boeing strike could drag on, risking junk rating for bonds. Air Canada averts strike by striking last-minute deal with pilots' union. Axel Springer and KKR reportedly reached fundamental deal in summer.
|
Crypto |
Sam Bankman-Fried appeals fraud conviction, requests new trial. MicroStrategy stock +8% after BTC holdings added to reach $14.6B. Bit2Me gets license in Argentina as virtual asset service provider.
|
U.S. politics |
|
World |
Taliban begins enforcing new draconian laws. Mexico's sweeping judicial overhaul takes effect. Philippine vessel departs disputed reef in South China Sea.
|
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