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Microsoft is unbundling its Teams and Office products
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Cash Nut
April 02, 2024
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In Today’s Edition
Why Q1 investments were so hot and how it compares to previous bull markets
Microsoft Reportedly Building ‘Stargate' to Transport OpenAI Into the Future
‘AirPods Lite’ to debut later this year, new report says
Terraform Industries converts electricity and air into synthetic natural gas for the first time
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🚀Startups Nuts
The crypto venture capital landscape saw a significant uptick in Q1 2024, with $2.52 billion raised across the sector. Competitiveness among VCs has created a founder-friendly environment, leading to higher valuations and more favorable terms for startups. While the market is expected to remain bullish throughout 2024, regulatory uncertainty and the absence of large deployers of capital from the previous bull market may prevent funding levels from reaching the heights seen in 2021 and 2022.
Other News
Sam Altman removed from ownership structure of OpenAI Startup Fund, the ChatGPT maker's venture capital arm.
Robovision, a computer vision platform, raised $42 million.
InStride Health, a pediatric treatments provider, raised $30 million.
🏭Business Nuts
Microsoft is planning to build a $100 billion supercomputer called Stargate to power OpenAI's next generation of artificial intelligence systems. Stargate could take up several hundred acres of land and require up to 5 gigawatts of power. The facility could open as soon as 2028. Its creation is largely dependent on whether OpenAI can deliver its next major AI upgrade, which is reportedly due in early 2025.
Other News
Rubrik, a data security software vendor, has filed for an IPO, signaling a resurgence in the tech IPO market following a lull. Despite revenue growth to $627.9 million, the company's widened net loss underscores the high costs of expansion in the competitive tech sector, where it competes with giants like $Dell and $IBM.
Trump's net worth decreased by $1 billion due to a 21% drop in the stock of his social media venture, Trump Media & Technology Group. The company reported a loss of over $58 million in 2023, with revenue at $4.1 million, notably lower than competitors like Reddit and Snap.
Citigroup has finalized a reorganization in its US investment bank, impacting the Technology, Media, and Telecom (TMT) sectors, leading to notable departures like managing directors Yaseen Choudhury and Abhi Singhal. This move is part of Citigroup's efforts to streamline operations, resulting in $2.5 billion in savings and the elimination of 20,000 roles.
Microsoft is unbundling its Teams and Office products globally — six months after doing so in Europe — to avoid antitrust fines. The tech giant was investigated after Slack filed a complaint in 2020 with the European Commission.
📱Tech Nuts
Apple is expected to release multiple new models of its AirPods this year. A report says that a new lower-cost AirPods Lite, priced at $99, will be released sometime during the second half of 2024. There is little information about what to expect from the lower-cost earbuds. New AirPods Max are also coming later this year. The AirPods 4 will feature a new design and a USB-C charging case. The higher-end variant will feature noise cancellation.
Other News
Google has agreed to destroy or de-identify billions of web browsing data records collected from Incognito mode users as part of a proposed class action settlement.
OpenAI's Voice Engine can create synthetic voices based on a 15-second clip of someone's voice. The text-to-voice generation platform is currently in limited access.
🎁Miscellaneous
Terraform Industries' Terraformer is a machine that uses electricity and air to create hydrocarbons. It consists of an electrolyzer, a direct air capture system, and a chemical reactor. Roughly the size of two shipping containers, the machine produces pipeline-grade synthetic natural gas using energy from a one-megawatt solar array. The system converts clean energy into hydrogen at less than $2.50 a kilogram of H2 and the direct air capture system filters CO2 for less than $250 per ton, a world record.
💡What else are we reading and seeing?
Rollable OLED’s Moment Is Near
The remoteness of remote work
Vitalik on next steps in the Purge
Private equity vs. the coffee workers
Your dog will have an anti-aging drug before you do
The Internet Is Too Small for Data-Guzzling AI Companies
Wall Street nervously eyes Tesla's Q1 delivery numbers
IPOs are picking up again — but don’t expect a flood just yet
The psychologist who turned the investing world on its head
7 life shortcuts that actually work
What longevity experts recommend eating
😎Fun Fact
Debt-to-GDP could go to 189% if markets expectations on rate prove correct: Bloomberg
CBO projections “are underpinned by rosy assumptions” on tax revenue, defense spending, and interest rates, according to Bloomberg Economics
Source - Bay Area TImes
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🐦Joke of the Day
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