June 20, 2024 | Read Online

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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).

All times are ET.

1. Safe Superintelligence, Ilya Sutskever's new startup, announced

A home page is all they have so far:

Safe Superintelligence Inc.

No product launches until superintelligence: "Our singular focus means no distraction by management overhead or product cycles, and our business model means safety, security, and progress are all insulated from short-term commercial pressures."
Co-founders: Daniel Gross (investor), Daniel Levy (developer).
Offices in Palo Alto and Tel Aviv.

2. NVIDIA becomes the world's #1 most valuable company, surpassing Microsoft

CompaniesMarketCap.

50% of NVIDIA's AI server chips are going to AWS + Microsoft.
NVIDIA also agreed to buy Shoreline for reported $100M.

3. The Dispatch: Home for the Politically Homeless*

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4. X delayed Payments launch due to regulatory pushback

"X told regulators in Massachusetts last August that it would resubmit applications for international money transfers after securing permission to operate in a majority of US states. (It has since reached that threshold.)"
Small fees planned for some, but not all, types of transactions.
Elon owns 75% of X, and no one owns more than 10%.

5. London leads in # of AI startups in Europe, France leads in $ raised

Dealroom.

$2.29B raised by French generative AI startups to date, including Mistral, Hugging Face, and H.
$1.15B by UK ones (Stability), $1.04B for Israel (AI21, Run:ai), $636M for Germany (Aleph Alpha).

6. What to watch in the energy & climate sector*

Axios Pro.

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7. Interesting videos, posts, and memes

Aravind Srinivas: Perplexity CEO on Future of AI, Search & the Internet | Lex Fridman Podcast #434

YouTube video by 20VC with Harry Stebbings

Michael Eisenberg: How China Could Overtake the US in the AI Race | E1167

8. Other headlines

AI

Perplexity gets legal letter from Forbes.
Chinese AI startups start launching products in U.S.
Apple looks for Chinese partner to offer Apple Intelligence services there.

Nebius AI: Fight for the best price on your H100 GPU cluster.*
Athyna: hire incredible global talent with up to 80% savings vs. U.S. hires.*

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Tech

Vision Pro v2 development halted, focus now on cheaper Vision.
Boeing's crewed Starliner mission delays return from ISS.
Elon pitches advertisers at Cannes to return to X.

Axios Pro: Deals Tracker helps you find your next investment, faster.*

*Sponsored.

Tech & law

China plans measures to encourage international VC.

Business

Mortgage rate drops below 7% for 1st time since Mar.
Swiss central bank cuts rates from 1.50% to 1.25%.
Boeing victims' families seek $25B fine.
Washington Post's new CEO plans 3rd newsroom doing social media.

Crypto

SEC's investigation into Ethereum dropped: Consensys.

Uniswap: simple, secure and lightning-fast swapping with the Uniswap web app.*

*Sponsored.

U.S. politics

Immigration boosts economy, reduces budget deficit: CBO.

World

Hezbollah leader threatens Israel, Cyprus in new speech.
Russia, North Korea sign "unconditional" military agreement.
Russia says it awaits U.S. response on prisoner swap.
EU approves new sanctions package on LNG shipments, Chinese firms.
Netanyahu's video saying Biden withheld weapon leads to canceled meeting.
Sudan's continued civil war: a look at.

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