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- 😑 GPT-4 Performance Dips | ⬆️ Low Inflation = High Tech Valuations | 🤖 Musk's New AI Company
😑 GPT-4 Performance Dips | ⬆️ Low Inflation = High Tech Valuations | 🤖 Musk's New AI Company
READ TIME: 4.1 MINUTES; GPT-4, created by OpenAI, reportedly decreases performance despite getting faster. Some users have labeled it as 'lazier' and 'dumber', with issues such as weakened logic and erroneous responses.
Kristoffer Lindström
July 13, 2023
Together with ⬆️
Hey there, folks!
Can you believe it's already Thursday, July 13? Hold onto your hats because we've got some seriously fantastic tech news coming your way. Brace yourselves for this mind-blowing update:
GPT-4 Performance Dips
Musk's New AI Company
Low Inflation = High Tech Valuations
Nvidia in Arm's IPO
and more...
READ TIME: 4.1 MINUTES
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🌐 Tech Companies
US online sales rose by 6% to $6.4 billion in the first 24 hours of Amazon's Prime Day, falling short of higher growth estimates. Although this represents an increase from last year, expectations were more ambitious. Home goods and household essentials emerged as top-selling categories, with around 6% of orders utilizing buy now, pay later services—an almost 20% rise from 2022.
Tesla is bypassing Apple's 30% App Store tax by not using its "In-App Purchase" system for its “View Live Camera” feature. Tesla's “Connectivity Packages,” priced at $9.99/month, typically escape the fee due to their hardware utilization outside of the app, but the camera feature solely operates within the app. Still, Apple seemingly allows Tesla to avoid their usual payment system, forgoing potentially millions in tax.
Major tax-preparation companies H&R Block, TaxAct, and TaxSlayer allegedly violated privacy laws by sharing sensitive customer data with Google and Meta. This revelation emerged from a Congressional investigation and could lead to billions in fines for the companies if they're found guilty of unauthorized data sharing.
Elon Musk, the owner of Twitter, is accused in a class-action lawsuit of underpaying roughly $500m in severance to laid-off staff following his company purchase. The complaint suggests Musk was aware of the severance plan but resisted the expense.
The popular gaming platform, Roblox, is set to launch on the Meta Quest platform, beginning with an App Lab open beta in the coming weeks. The transition will automatically accommodate existing experiences using default scripts.
🚀 Startup Scene
Nvidia has invested $50 million in biotech firm Recursion to accelerate AI-based drug discovery training. Recursion's AI models will utilize Nvidia's cloud platform and potentially be licensed out to other biotech firms.
IT management company InvGate, operational since 2009, has raised $35 million in its first institutional funding round. The funds will drive global expansion, customer acquisition, and further product development.
🤖 AI Corner
GPT-4, created by OpenAI, reportedly decreases performance despite getting faster. Some users have labeled it as 'lazier' and 'dumber', with issues such as weakened logic and erroneous responses. The tech community speculates a significant redesign, moving towards a Mixture of Experts (MOE) approach, which uses smaller expert models for different tasks and subjects, leading to faster, less expensive but potentially less accurate results.
Elon Musk's new venture, xAI, has launched with the lofty aim of understanding "the true nature of the universe." The website showcases a team composed of AI industry stalwarts from notable organizations such as OpenAI, Google Research, Microsoft Research, and DeepMind. The company, separate but anticipated to work closely with X Corp, Tesla, and others, will host a Twitter Spaces discussion on July 14 for a team introduction and Q&A.
💰´Markets & Money
US stocks exhibited a bullish trend on Wednesday, buoyed by encouraging June inflation data that pointed to a 3% YoY rise, the smallest in two years. Market players are optimistic that these milder inflation figures may end the Federal Reserve's rate hikes, which have been a dampening factor for stocks.
The latest US inflation data is positively affecting American tech stocks, boosting cloud companies to nearly year-high levels. A potential halt in aggressive interest rate hikes could redirect investor focus back to tech shares.
Broadcom won conditional EU antitrust approval for its $61 billion acquisition of VMware, offering remedies to rival Marvell Technology to secure the deal. This is the largest deal in Broadcom's history and helps the company diversify into enterprise software.
Billionaire investor Ray Dalio's prediction of an impending US debt crisis seems to be materializing as the national debt soars by $1 trillion in a month after Congress's lifting of the borrowing ceiling.
Chip designer Arm, backed by SoftBank, is discussing with Nvidia Corp to join as an investor in its IPO, with an estimated valuation of $35 to $40 billion.
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