Weekly Market Report. February 23, 2024

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February 23, 2024

Greetings, curious minds! Join us on a journey into the cutting-edge. This newsletter unveils the latest trends shaping our world.

Let’s explore together! 🌐🚀

🔥 Top Reads

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OpenAI’s Sora Video Generator is Impressive 😲

OpenAI doesn’t have a set timeline for releasing Sora because the company wants to make sure it can adequately mitigate safety risks related to the election first, according to OpenAI spokesperson Natalie Summers.

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Jack Dorsey’s Block posts 90% boost in Bitcoin gross profits 🤔

On Feb. 22, Block released its earnings report for the fourth quarter, which saw the total sale amount of BTC sold to customers (shown as Bitcoin revenue) at $2.5 billion, up 37% year-over-year in Q4.

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Nvidia Declares AI a ‘Whole New Industry 🧐

Big tech companies are pouring cash into artificial intelligence at a breakneck pace. And based on the earnings update Wednesday from Nvidia NVDA 16.40%increase; green up pointing triangle, much of it is going to that chip maker.

📈 Market Data

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2024 Halving Date ETA: April 12, 2024

🚨 Important News This Week

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AI

  • DeepMind by Google forms a new org focused on AI safety

  • Google to pause Gemini AI model’s image generation of people due to inaccuracies

  • Reddit in AI content licensing deal with Google

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Tech

  • Roblox Game Developers Earned a Record $741 Million Last Year

  • China’s Lenovo posts Q3 revenue growth, beats analyst estimates

  • Rivian says it is laying off 10 percent of its workforce as EV woes deepen

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Business

  • HSBC’s Profit Sinks on $3 Billion Charge at Chinese Bank
  • Head of Boeing’s 737 MAX program leaves after mid-air incident
  • Canada’s inflation rate slows and bolsters bets on early rate cut

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Crypto

🚨 Notable Companies Secure Impressive Investments

  • AltLayer has raised $14.4M in a Strategic funding round co-led by Polychain Capital and Hack VC

  • Ethena Labs secured a $14M Seed extension round

  • Meso has raised $9.5M in a Seed funding round co-led by Solana Ventures and Ribbit Capital

  • Monkey Tilt has raised $21M in a funding round backed by Polychain Capital and other

  • ZeroLend has raised $3M in a Seed funding round

  • INIT Capital has raised $3.1M in a Seed funding round co-led by Electric Capital and Mirana Ventures

  • EigenLayer has raised $100M from Andreessen Horowitz (a16z)

🎙️Are Crypto-Friendly Banks a Reality?

Have you checked the newest AND incredible interview? (w/ Aaron Payas)

🤣 Meme of the Week

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🫰Love What You Read?

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If you have any questions, please contact me directly in my email.

Sincerely,

Constantin Kogan

[email protected]