May 30, 2024 | Read Online

Brought to you by:

Nebius AI

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. Trump, Elon discuss advisory role in potential 2nd term

Bloomberg.

"The role hasn't been fully hammered out and might not happen."
[They] "talk on the phone several times a month," discussing "immigration, technology and science, including the U.S. Space Force."
Elon doesn't want to only hand out cash, he wants the influence.

2. CoreWeave plans IPO in H1 2025

Generative AI Unicorns Database.

Later this year: interviews with investment banks.
$19B: last valuation.
$7.5B in debt raised in May.
$2.4B in revenue was projected for 2024 in 2023, but actual revenue could be even higher.

3. Fight for the best price on your H100 GPU cluster. Special offer from Nebius AI for those training large models.*

Nebius AI.

Learn more.

4. Mistral releases Codestral model, claimed to be #1 open-weights coding model

Mistral.

Non-commercial use only, with suspicions that it was trained on copyrighted content.
22B model.
Trained on 80+ languages, including Python, Java, C, C++, and JavaScript.

Codestral still underperforms vs. GPT-4 and other closed models (see more below)

X: Artificial Analysis.

5. GPT-4 leads in 3 out of 4 Scale AI's new LLM rankings

It leads in instruction following (text), coding, and Spanish, while Claude 3 Opus leads in math:

Scale SEAL leaderboard.

In our favorite LMSYS Chatbot Arena Leaderboard, Gemini's May version jumped ahead of Claude 3 Opus

Now just behind OpenAI's GPT-4o:

LMSYS Chatbot Arena Leaderboard.

6. Interesting videos, posts, and memes

This solopreneur made $300M so we gave him an award for it

7. Other headlines

AI

Perplexity in talks to raise $250M at $3B from Bessemer.
Groq reporting 1.1K tokens per second after Samba's 1K record.
Altman weighs converting OpenAI into a for-profit corporation.
Apple to use black box processing to protect privacy in its AI usecases.
Gavin Newsom surprisingly warns against over-regulating AI.
Palantir wins $480M AI computer vision deal with Army.
The Atlantic, Vox Media sign licensing agreements with OpenAI.

Nebius AI: Fight for the best price on your H100 GPU cluster.*

*Sponsored.

Tech

HP's revenue -1% to $12.8B in quarter.
Salesforce's revenue +11% to $9.2B, as op. margin rises to 18.7%.
Apple TV+ app likely coming to Android.
AST SpaceMobile stock +69% after Verizon satellite internet deal.
Google confirms leaked Search algorithm docs are real.
Solutions by Text raises $110M after bootstrapping for decade.

Athyna: hire incredible global talent with the same company that Bay Area Times uses!*

*Disclaimer: Bay Area Times is a shareholder in Athyna.

Tech & law

China to impose exports controls on aviation tech starting Jul 1.

Biotech

Natural Cycles, world's 1st contraceptive app, raises $55M.
MDMA may be approved by FDA in Aug.
Novo Nordisk's $8B plan to expand its semaglutide production: deep dive.

Business

China may fine PwC record $138M+ over Evergrande bankruptcy.
Boeing due to submit plan to FAA on quality breakdowns.

Crypto

Gemini Earn users will get back $2.2B of crypto in-kind.
PayPal's PYUSD on Solana to introduce confidential transfers.

Uniswap Wallet App makes it easy to swap crypto on the go.*

*Sponsored.

U.S. politics

Trump jury does not reach decision on 1st day, asks to rehear testimony.

World

Israel takes control of Gaza's border with Egypt to prevent weapons smuggling.
Year-end: when war is expected to last: official.

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.

Click to Share

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.