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Top stories today: - Llama 3.1 405B launches: at GPT-4o quality, open weights
- Foldable iPhone with 'clamshell' design rumored for 2026
- Alphabet's revenue +14% to $84.7B in Q2
- Tesla stock -8% as profits -45% to $1.5B
- Ethereum ETFs see $1B in trades, net inflows of $107M
- Harris odds climbs from 32% to 36% after positive polling, 1st rally
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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. Llama 3.1 405B launches: at GPT-4o quality, open weights |
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Llama 3.1 405B can be accessed for as low as $3 per 1M output tokens (on Fireworks), 5x cheaper than GPT-4o and Claude 3.5 Sonnet |
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Our view: Llama 3.1 threatens the viability of startups such as OpenAI, Anthropic, xAI, Mistral |
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3. Foldable iPhone with 'clamshell' design rumored for 2026 |
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4. Alphabet's revenue +14% to $84.7B in Q2, as operating margin expands to 32% |
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Revenue growth was widespread across areas, even with a 1% reduction in headcount |
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5. Tesla stock -8% as profits -45% to $1.5B, automotive revenue -7% to $19.9B |
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Oct. 10: new date for the robotaxi unveil, after the original Aug. date was canceled earlier in the month. Price war with Chinese competitors was partly blamed for the slowdown. Mexico plant paused at least until the presidential elections, as Trump vowed to tariff Mexican imports. Full-Self Driving approval expected at year-end in China, according to Elon.
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Elon polled his followers on whether Tesla should invest $5B into xAI |
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6. Ethereum ETFs see $1B in trades, net inflows of $107M on 1st day of trading |
Many ETFs are waiving fees to attract investors: |
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7. Harris odds climbs from 32% to 36% after positive polling, 1st rally |
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8. Global startup funding hits $80B in North America in H1, as Asia shrinks, Europe grows |
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9. Singapore, Japan, EU passports lead in visa-free access |
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10. Interesting videos, posts, and memes |
 | Inside Mark Zuckerberg's AI Era | The Circuit |
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 | Wiz passes on Google, Meta pushes open-source AI ahead, Spotify's earnings, and more! | E1984 |
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11. Other headlines |
AI |
Harvey, legal AI assistant, raises $100M at $1.5B. OpenAI reassigns top AI safety exec to AI reasoning role. GM Cruise restart operations after hitting pedestrian in SF last year.
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Tech |
Wiz, Google deal failed partially due to CrowdStrike's failings. Peacock hits 33M subscribers, $1B in revenue, still -$348M in net result. Revolut's employees to sell $500M in shares at $45B valuation. Clio, legal tech, raises $900M at $3B, running at $200M ARR. Mytra, humanoid robotics startup, launches with $78M.
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Tech & law |
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Biotech |
Rapamycin pill linked to delay in ovarian aging. Lario, Parkinson's startup, gets $6M grant from Fox Foundation.
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Business |
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Crypto |
dYdX exchange compromised, up for sale. Coinbase asks court to compel SEC to hand over documents. Mt. Gox returning BTC to customers via Kraken, others.
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U.S. politics |
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World |
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Reviewed by Diogenes
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July 24, 2024
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