Weekly Market Report. February 9, 2024

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February 9, 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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Google’s AI now goes by a new name 😲

Google is famous for having a million similar products with confusingly different names and seemingly nothing in common. (Can I interest you in a messaging app?) But when it comes to its AI work, going forward there is only one name that matters: Gemini.

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Huawei researchers say giving AI a ‘body’ is the next step toward human-level agents 🤔

A team of researchers from Huawei’s Noah’s Ark Lab in Paris recently published pre-print research outlining a potential framework for “embodied artificial intelligence” (E-AI), something they say will serve as the “next fundamental step in the pursuit of artificial general intelligence (AGI).”

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Microsoft-backed OpenAI tops US$2B in revenue in Dec 🧐

OpenAI, an artificial intelligence (AI) start-up backed by Microsoft, reached a significant milestone in December 2021, generating $2 billion in revenue. OpenAI is confident it can more than double this figure by 2025, thanks to growing interest from business customers seeking to leverage its generative AI tools in the workplace.

📈 Market Data

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2024 Halving Date ETA: April 12, 2024

🚨 Important News This Week

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AI

  • AI Safety Group to be Formed by Top Names Join Biden, Including OpenAI, Microsoft, Google, Apple, and Amazon

  • Microsoft brings new AI image functionality to Copilot

  • OpenAI forms a new team to study child safety

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Tech

  • PayPal sees flat profit in ‘transition year,’ shares fall

  • Roblox reports 25% YoY growth with over $1B bookings in last quarter

  • Jack Dorsey’s Plan to Get Elon Musk to Save Twitter Went South

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Business

  • Piers Morgan is pivoting to digital
  • Reuters‘ adjusted EPS beats expectations, AI boosts results
  • Saudi Arabia Lines Up Goldman, Citi for Aramco Share Sale
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Crypto

  • Bitcoin flirts with trillion dollar valuation as price rises above $47,000

  • Changpeng Zhao Breaks 2 Months Silence

  • Ethereum’s Buterin Reveals Genius Hack to Beat Deepfakes

🚨 Notable Companies Secure Impressive Investments

  • GLIF has raised $4.5M in a Seed funding round led by Multicoin Capital

  • Superform has raised $6.5M in seed and angel funding rounds led by Polychain Capital

  • Flood has raised $5.2M in a Seed funding round co-led by Bain Capital and Archetype

  • Pixels has raised $4.8M in a strategic funding round backed by Fenbushi Capital and others

  • YogaPetz has raised $5M in a Seed funding round led by Animoca Brands

  • Drift Protocol has raised $23.5M in a Series A funding round led by Polychain Capital

🤣 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]