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Top stories today: - 2nd Alzheimer's drug approved by FDA: donanemab (Kisunla) by Lilly
- Figma disables Make Design feature after it was found copying Apple
- Runway AI in talks to raise $450M at $4B valuation
- Tesla stock +10% after deliveries fall less than expected
- Exits for Europe's VC-backed fintechs continue to decelerate
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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. 2nd Alzheimer's drug approved by FDA: donanemab (Kisunla) by Eli Lilly |
22%-36% slowdown of clinical decline was observed in donanemab's Phase 3 clinical trial: |
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2. Figma disables Make Design feature after it was found copying Apple's designs |
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4. Runway AI in talks to raise $450M at $4B valuation |
It would make the text-to-video AI firm the #10 most valuable generative AI startup: |
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General Atlantic in talks to lead the round. $25M ARR at the end of 2023. 160x P/S, above the already high average for gen. AI startups. Unclear how Runway's product compares with OpenAI's Sora, yet to be released to the public.
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5. Tesla stock +10% after deliveries fall less than expected |
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444K deliveries in Q2, -5% YoY, better than the 439K expected. 410K vehicles produced, -14% YoY.
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6. Exits for Europe's VC-backed fintechs continue to decelerate as Revolut's IPO is due |
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7. Interesting videos, posts, and memes |
 | The State of Generative AI: Vince Hankes, Sarah Guo, & Shardul Shah with Eric Newcomer |
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8. Other headlines |
AI |
AI startup funding in U.S. reaches $27B in Q2, 48% of $56B in total funding. Apple may get OpenAI board observer seat as part of deal. Magic, coding AI, in talks to raise $200M at $1.5B. Meta 3D Gen creates high-quality 3D assets in seconds. China manages to sneak in NVIDIA chips through underground network.
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Tech |
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Tech & law |
MS law requiring age verification for social media accounts blocked by judge. SCOTUS to hear challenge on Texas age verification for adult websites. EU may scrap €150 exemption for import taxes on Chinese goods.
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Business |
Powell: inflation back on downward path, but more needed for cuts. Skydance Media reaches preliminary agreement on Paramount merger.
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Crypto |
Polkadot's $245M in cash would last 2 years at current burn rate. Sentient, crypto-based open source AI, raises $85M from Founders Fund.
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U.S. politics |
Trump sentencing delayed until Sep. 18 or later due to SCOTUS ruling. Trump raises $331M in Q2, ahead of Biden's $264M. Biden blames international travel over poor debate performance. Biden's lapses said to be increasingly common, worrisome: NYT.
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World |
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