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Top stories today: - Adobe integrates AI model FireFly Video into Premiere Pro
- Tesla's Optimus robots said to be remotely operated by humans in demo
- Apple speculated to launch ~$2k headset in 2025
- NVIDIA stock hits record high, poised to overtake Apple
- Global smartphone market +5%, with Apple reaching record high
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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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Listen to our AI-generated podcast summarizing today's newsletter: |
| Bay Area Times Daily - Oct. 15, 2024 ► Play Online |
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1. Adobe integrates AI model FireFly Video into Premiere Pro to take on OpenAI's Sora |
Generative Extend is among the FireFly Video-based tools coming to Premiere Pro: |
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Extends the footage with up to 10 seconds AI clips in 720p or 1080p at 24fps. Helps correct shifting eye-lines and unexpected movement. Extends sound effects and ambient "room tone". Currently available in beta.
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Text-to-Video and Image-to-Video are the other FireFly Video-based tools |
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Both tools can generate up to 5 seconds clips of up to 720p at 24fps. Rolling out in a limited public beta in the Firefly web app. Adobe's AI tools currently take about 90 seconds to generate, but they plan a "turbo mode" to cut that down. The AI video tools will be priced differently than other AI tools, Adobe CEO said, without disclosing the price.
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Additionally, Adobe introduced new AI tools to Photoshop, making photo editing easier |
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Distraction Removal added to "remove common distractions like people, wires, and cables with a single click." Generative Fill, Expand, Similar, and Background tools are now available with Firefly Image 3. "Objects on Path" added to Illustrator for quick object arrangement along any path.
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3. Tesla's Optimus robots said to be remotely operated by humans in demo |
Optimus robots were the showstoppers at Tesla's "We, Robot" event last week: |
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Tesla's employees stationed elsewhere reportedly oversaw the robots. The prototypes could walk without external control using AI, however. Elon Musk didn't confirm the human controlling. "The biggest product ever of any kind," Musk referred to the humanoids.
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4. Apple speculated to launch ~$2K headset in 2025, 2nd-gen Vision Pro in 2026 |
Inferior processor and cheap materials are expected to be part of the affordable Vision headset: |
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The headset would also lack the EyeSight feature to display users' eyes. 2x sales are expected over the existing Vision Pro. Faster chip would be available on the 2nd-gen Vision Pro. 2027: Apple's smart glasses rumored, with Meta Ray-Bans-like experience. AirPods with cameras are also expected for 2027.
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5. NVIDIA stock hits record high, poised to overtake Apple as most valuable company |
NVIDIA's stock +2.4% to close at $138.07 on Mon., topping its previous high of $135.58 on Jun. 18: |
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6. Global smartphone market +5% in Q3, with Apple reaching record-high volume: Canalys |
Resilient demand in emerging economies and early replacement cycle in the U.S., China, and Europe drove growth: |
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Samsung continues to lead the market, with 18% share, vs. 21% in Q3 2023 |
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Apple grew its market to 18%, from 17% a year ago. Xiaomi came 3rd, with a 14% share. Oppo and Vivo emerged 4th and 5th, respectively, with 9% share each.
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7. Global EV sales hit 9-month high in Sep., with China continuing its leadership |
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+31% YoY growth in fully electric and plug-in hybrid sales globally in Sep. 1.69M EVs sold in total during the month. +48% in sales in China alone, with 1.12M new EVs hit on roads. +4% in the U.S. and Canada at 0.15M. +4% in Europe to 0.3M, with +24% coming from the UK alone.
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8. U.S. platform leverage buyouts pick up in Q3 as lower Fed rates cut capital costs |
2,198 PE deals worth of $246.1B were closed in Q3, vs. 1,750 of $179.9B a year ago: |
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+28% YoY growth in platform leveraged buyouts in the first three quarters of 2024. +78% in LBO credit by banks to $50.8B YTD from $28.6B in 2023. 55%: percentage of sponsor-to-sponsor exits vs. all exits in Q3. $8.4B: Smartsheet deal by Blackstone-Vista Equity Partners was among the most prominent deals of YTD.
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9. German automakers losing out in China's EV shift |
VW, Mercedes, and BMW see a continued decline in their market share in China, as the EV share grows: |
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BMW emerged as the only German automaker in the global top 10 for digital strengths |
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10. Interesting videos, posts, and memes |
 | David Frankel, MP @Founder Capital: Investing Lessons from Seeding Uber, Airtable & Whoop | E1214 |
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 | 6 startup ideas from the Tech Warren Buffett (make $120k/mo) |
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 | There's a Crisis in Physics | Sabine Hossenfelder |
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11. Other headlines |
AI |
DOD has paid ~$700M for AI projects since ChatGPT's launch. OpenAI's research team in turmoil after Liam Fedus' promotion: sources. Microsoft's VP of GenAI research to join OpenAI. OpenAI's fight in court for trademark of name: feature. Yann LeCun profile: AI dumber than cats.
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Tech |
Google backs new nuclear power plants developed by Kairos Power. China's cybersecurity agency rejects U.S. hacking claims. Duolingo CEO interview on gamifying language learning, AI investments.
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Tech & law |
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Biotech |
Bayer submits EU marketing application for menopause relief drug. CMR Surgical gets FDA clearance for Versius robot. Lilly picks UK for 1st Gateway Lab in Europe.
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Business |
Fed's Waller calls for "more caution" on rate cuts. Boeing prepares layoff notices for 1K's of workers as turmoil deepens. China increases enforcement of 20% tax on foreign investment gains. HSBC probes China Pinnacle wealth business on costs and control: sources. China may raise $850B in new debt over 3 years to spur growth: report.
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Crypto |
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U.S. politics |
Elon reportedly giving $500M to his pro-Trump super PAC, managing it himself. Harris to be interviewed by Fox News's Bret Baier on Wed at 6 PM ET. Joe Rogan reportedly in talks with Harris, Trump to join podcast.
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World |
Netanyahu tells Biden Israel won't attack Iranian nuclear, oil sites: report. Israel said to face potential shortage of interceptor missiles. Iran warned by U.S. to stop plotting against Trump: official. Canada, India expel top diplomats. North Korea blows up inter-Korean road, rail lines near border.
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October 15, 2024
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