July 17, 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. Mistral releases Codestral Mamba 7B, Mathstral 7B, claimed to be best small open models for coding, STEM

Codestral Mamba 7B uses the Mamba architecture, rather than Transformers, and has a context length of 256K:

Mistral.

TBD: independent benchmarks.

Mathstral does particularly well on the MATH benchmark, but its broader MMLU is only 63% (vs. 68% for Microsoft's Phi-3 Mini 4B):

Mistral.

2. SpaceX, X moving headquarters from CA to TX

X: Elon Musk.

X: moving to Austin from San Francisco.
SpaceX: to Starbase from Hawthorne.

3. Andreessen, Horowitz endorse Trump, announce donations

The Little Tech Agenda: Biden vs. Trump

With "Little Tech" arguments: they were historically bipartisan, but argue that the Biden administration has been particularly against M&A, startups, and crypto.

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5. ASML's sales -10% YoY to €6.2B in Q2, net bookings +24% to €5.6B

ASML's U.S. GAAP statements.

Sales guidance of €6.7B - €7.3B in Q3,vs €6.7B in Q3 2023.
"We see 2024 as a transition year with continued investments in both capacity ramp and technology."

6. Latam startup funding +17% YoY to $0.8B in Q2, still significantly below 2021 levels

Crunchbase.

Deal count is down, meaning average round size is up.
Late-stage up, early-stage stable.

7. Streaming reaches record 40.3% of TV time, with YouTube, Netflix leading

Nielsen.

8. Interesting videos, posts, and memes

Index Ventures' Mike Volpi on AI, Open Source, and Evolution of VC

9. Other headlines

AI

Fei-Fei Li's World Labs raises ~$100M at $1B+ from a16z, others.
Andrej Karpathy, former OpenAI engineer, launches Eureka Labs.
DreamBig Semiconductor raises $75M Series B.

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Tech

GitLab explores sale (currently trades at $8B).
Pixel 9 Fold: new, detailed photos leaked.
Unconditional Income Study results out on Mon.

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Tech & law

TikTok's bid to stay out of EU's DMA Act fails.
Chip trade restrictions could increase given loopholes.
Amazon, Adept acquihire being probed by FTC.

Biotech

Cardurion raises $260M, currently has 2 leads in Phase 2.
Repurposing cardio, metabolic drugs for aging: a look at.

Business

Chinese tycoon Guo Wengui convicted in $B fraud scheme.

Crypto

FTX, CFTC agree to $12.7B settlement going to creditors.

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U.S. politics

SCOTUS term limits may be proposed by Biden.
Trump seeks 15% corporate taxes, no self-pardon.
Sen. Menendez guilty of taking bribes, acting as Egypt's foreign agent.
Iranian plot had led Secret Service to ramp up security.
Trump classified docs dismissal to be appealed by Jack Smith.
Haley, DeSantis endorse Trump at RNC.
Manhattan Project for defense in plans by Trump allies.

World

North Korean diplomat defects to South.

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