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Top stories today: - Amazon unveils Nova AI models to take on OpenAI, Google, Anthropic
- Intel said to consider outsiders for CEO after Gelsinger's sudden exit
- Cyber Week global online sales +5.7% to $314.9B
- OpenAI hires Kate Rouch from Coinbase as first marketing chief
- Truth Social DAUs +3%, despite Trump posting 200x+ during election
- Memecoins soar on Trump's victory
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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). |
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 | All times are ET. |
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Listen to our AI-generated podcast summarizing today's newsletter (beware of the few hallucinations): |
| Bay Area Times Daily - Dec. 4, 2024 ► Play Online |
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1. Amazon unveils Nova family of AI models to take on OpenAI, Google, Anthropic |
Nova Pro performs on par with GPT-4o, and a bit behind Gemini 1.5 Pro and Claude 3.5 Sonnet, according to Artificial Analysis: |
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4 text-generating models: Micro (128K-token context), Lite and Pro (300K-token), and Premier (available in 2025). Available exclusively on AWS, which could be a strategy to lock customers in. Another sign of quality plateauing, as Amazon couldn't beat existing options.
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All Nova models are priced competitively vs. their quality, with Nova Pro costing $3.2/1M output tokens, vs $10 for GPT-4o |
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Image and video-generating models, Nova Canvas and Nova Reel, are also being launched. Amazon Q agents are also being upgraded. Their new Automated Reasoning checks is supposed to fight hallucinations.
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3. Amazon announces AI supercomputer with 100K in-house Trainium2 chips |
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Amazon has also unveiled its UltraServer, featuring 64 interconnected Trainium2 chips |
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Trainium2 chip, launched last year, is now available for all customers to use |
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Trainium3 chip was showcased alongside with bigger AI model support than Trainium2. Apple revealed it uses Trainium and Graviton chips and is eyeing Trainium2 for AI pre-training. Amazon is emerging as an alternative to Nvidia with its new AI hardware moves.
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4. Intel said to consider outsiders for CEO after Gelsinger's sudden exit |
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Marvell head Matt Murphy and former Cadence CEO Lip-Bu Tan among the top candidates. Intel veterans and former executives, including Stacy Smith, Gregory Bryant, Renee James, and Kirk Skaugen are also on the list. Intel's biggest customers could also be in the recruitment pool. Executive search firm Spencer Stuart has been tasked to help find a new chief.
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5. Cyber Week global online sales +5.7% to $314.9B, with U.S. alone spending $41.1B |
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| | When the team that grew Zillow to a $16B valuation starts a new company, people notice. No wonder SoftBank already invested in Pacaso. Their real estate co-ownership platform: | Sells fractions of premier properties – rewriting a $1.3T market. Has earned over $100M in gross profits already. Handed keys to 1,500+ happy homeowners.
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7. OpenAI hires Kate Rouch from Coinbase as first marketing chief |
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8. Truth Social DAUs +3% MoM to 355K in Nov., despite Trump posting 200x+ during election |
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9. Startup tender offers +44% QoQ to 26 in Q3 |
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10. China's exports to Saudi Arabia hit $40.2B, on track to record high |
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China has become Saudi Arabia's largest greenfield investor, with $22B in investments since 2021 |
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11. Interesting videos, posts, and memes |
 | TWiST News: Bitcoin, Saylor's Microsoft Pitch, and the Delaware-Tesla Fight | E2054 |
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 | The 4 Horsemen Of Death, Starting TRT, Longevity Drugs, Nootropics, Menopause And F1 - Peter Attia |
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12. Other headlines |
AI |
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Tech |
Founders Fund loses Brian Singerman to emeritus role. Apple delays smart display-equipped HomePod production: Kuo. Salesforce Q3 revenue +8% YoY to $9.44B, net profit +25% to $1.5B. Box Q3 revenue +5% to $276M, net profit +21% to $12.9M.
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Tech & law |
DE judge who rejected Elon's pay package faces backlash. Encrypted messaging apps now backed by U.S. officials amid foreign hacks. Telegram agrees to join international body that fights illegal child material.
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Biotech |
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Crypto |
Celsius founder Alex Mashinsky pleads guilty to 2 fraud charges. Solana ETF conversion filed by Grayscale. CFTC chair may be pro-crypto, via Perianne Boring or Caroline Pham.
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U.S. politics |
Senate GOP seeks to tackle border, defense first, taxes later. Ron DeSantis favorite (35%) to be Hegseth's replacement as Pentagon chief. Work-from-home until 2029 deal agreed between Biden, 42K federal workers. Kash Patel, Trump's FBI pick, targeted as part of Iranian hack. Stephen Feinberg, billionaire investor, picked as Pentagon deputy. Tucker Carlson returns to Russia to interview Russian Foreign Minister Lavrov.
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World |
Hostages, Iran nuke deal to be focus of Trump admin: new Middle East advisor. South Korea opposition submits proposal to impeach President Yoon. Russia tests supersonic missiles in Eastern Mediterranean.
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