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Top stories today: - French stocks, EUR unchanged after leftist alliance wins plurality
- U.S. private equity exit value -18% YoY to $63.6B in Q2
- $600B in AI revenue required for high CAPEX spend: Sequoia report
- Hackers stole $1.38B in crypto YTD, up vs. 2023, down vs. 2022
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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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1. French stocks, EUR unchanged after leftist alliance wins plurality but no majority |
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The leftist alliance won 178 seats, 31% of the 577 total seats, meaning they will need to form a coalition to govern |
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2. U.S. private equity exit value -18% YoY to $63.6B in Q2 |
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4. $600B in AI revenue required for high CAPEX spend: Sequoia report |
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The math: |
Est. $150B in NVIDIA data center sales. 2x that to $300B to include data center-related costs, such as energy, employees, etc. 2x that to $600B to account for a 50% software gross margin.
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Aug.: Q2 NVIDIA earnings expected. |
5. Hackers stole $1.38B in crypto YTD, up vs. 2023, down vs. 2022 |
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6. Samsung event on Wed at 9 AM ET likely to include new Ring, Z Fold 6, Z Flip 6, AI, Watch |
 | Samsung Galaxy Unpacked July 2024: Official Livestream |
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Read more: The Verge. |
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8. Interesting videos, posts, and memes |
 | #54: Sun Valley, Tennis and Robots: Summer Adventure Preview |
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 | Hot Swap growing, donors revolt, President Kamala? SCOTUS breakdown: Immunity, Chevron, Censorship |
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8. Other headlines |
AI |
X plans to more deeply integrate Grok AI. ElevenLabs launches AI Voice Isolator. WhatsApp testing in-app Meta AI photo editing.
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Tech |
Google aims to increase searches on Chrome on iPhone to avoid 36% fee. Apple approves Epic Games Store in EU. Apple Watch 10 to offer larger screens, faster chip. Europe's Ariane 6 rocket set to launch on Tue at 2 PM ET. 57K tech workers laid off YTD, vs. 191K for 2023.
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Tech & law |
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Biotech |
Beacon raises $170M to advance ophthalmic gene therapies. Myricx Bio raises $114M for cancer from Novo, others.
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Business |
Boeing pleads guilty to criminal fraud over 737 Max crashes. Paramount moves closer to being sold to Skydance. 206K new jobs in June: employment report.
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Crypto |
House to vote on overriding Biden's SAB 121 veto this week. Samourai Wallet co-founder released on bail, will contest charges. $1M Firedancer bug bounty program to begin on Wed. TON blockchain's rise: deep dive.
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U.S. politics |
Biden -2 vs. Trump in swing states in Bloomberg poll. 4+ House Dems ask for Biden to step aside in private call. Senate Dems won't meet today to discuss Biden. Parkinson's specialist met Biden's physician in WH earlier this year. 2 radio hosts say they were given questions ahead of Biden interview. Noncompete clause face 2 court rulings this summer, SCOTUS could be next.
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World |
Putin to host Indian PM Modi today and Tue. Hungary's Orban meets Xi, after meeting Putin. Iranian presidential elections: reformist Masoud Pezeshkian wins. Argentina's Milei attacks socialism in CPAC Brasil 2024 with Bolsonaro.
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Reviewed by Diogenes
on
July 08, 2024
Rating:
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