- Cash Nut
- Posts
- Musk announces new AI Company
Musk announces new AI Company
Plus: The deep-sea gold rush is beginning
In Today’s Edition
Will Smith-backed U.S. broker Public launches in the UK in first foray overseas
Chinese company wins race for first methane-fueled rocket to orbit
Disney CEO Iger opens door to unloading TV assets as linear business struggles
Apple releases first public betas of iOS 17, macOS 14 Sonoma, and other new OSes
Google’s new “NotebookLM” app builds a custom AI based on a source document
The deep-sea gold rush is beginning
🚀Startups Nuts
Elon Musk has announced the formation of xAI, a company aimed at understanding the true nature of the universe. Musk and the operator of his family office incorporated X.AI in March and there were reports that Musk was in talks for potential funding of a new AI startup in April. xAI’s core team will be led by Musk himself. The team will have an array of talent from across the AI industry. xAI will maintain close ties with Twitter and Tesla to achieve its mission. The company plans to host a Twitter Spaces chat on Friday to give the public a chance to ask questions.
Public, the U.S. brokerage startup, is rolling out its platform in the U.K. on Thursday. The company will offer British users the ability to trade 5,000 U.S.-listed securities, including stocks and ETFs. The move will see Public compete with a flurry of well-established digital brokerage platforms, as well as upstarts like Revolut and Freetrade.
🏭Business Nuts
Chinese firm LandSpace is the first company ever to send a methane-fueled launcher into orbit. LaunchSpace's Zhuque-2 rocket was launched at 9 pm ET on Tuesday from the Jiuquan spaceport in the Gobi Desert. The launch mission was a complete success. Methane is the preferred fuel for rockets due to its high density and warmer boiling point. It also deposits less soot inside engines, making the engines easier to clean and reuse. Future explorers on Mars may be able to tap into natural resources to produce their own methane rocket fuel.
Disney CEO Bob Iger sat down with CNBC’s David Faber at Allen & Co.’s annual conference in Sun Valley on Thursday. Disney announced on Wednesday that it was extending Iger’s contract by two years through 2026. Iger returned to the helm of Disney late last year. The company has since undergone thousands of layoffs and cut billions of dollars in spending, including from content.
Sponsored
Tailored meals for your furry friend: Nom Nom delivers personalized nutrition for optimal dog health
Upgrade your dog's diet with a fresh, healthy diet from Nom Nom and support their healthier, happier life. Nommers report benefits in as little as one month from switching – like a shinier coat, increased energy, and better breath, to name a few.
Your dog's health starts with the food they eat. Upgrade their diet with fresh meals from Nom Nom – pre-portioned, and formulated for your dog’s needs by Board Certified Veterinary Nutritionists. Fueling your dog’s best life starts here.
Note - Please visit our Sponsored website to support us
📱Tech Nuts
The first public betas of iOS 17, iPadOS 17, watchOS, and macOS 14 Sonoma are now available. These builds are essentially identical to the third developer betas released last week. Public betas are usually signals that OSes are approaching the level of stability and polish required for a public release. Updates to all OSes include improved autocorrect, new iMessage and AirDrop features, separate profiles for Safari, an Enhanced Private Browsing feature, and the removal of 'Hey' from the 'Hey Siri' activation phrase.
Google NotebookLM is a notebook app designed to use the power of language models paired with existing content to gain critical insights faster. Google describes it as like a virtual research assistant that can summarize facts, explain complex ideas, and brainstorm new connections. NotebookLM's source-grounding reduces model hallucinations. The app is now in limited public testing. A link to a waitlist for the app is available in the article.
🔥Newsletter Spotlight
Smart Bear - Join 33,000 other people who love thinking about strategy, startups, product, marketing, decision-making, and founder psychology. Link
Learn AI with AI Tool Report - They will teach you how to save time and earn more with AI - Visit
🎁Miscellaneous
Deep-sea mining could begin within the next two years. A handful of companies backed by countries hungry for nickel, manganese, and other minerals needed for clean energy are ready to forge ahead with deep-mining projects. An obscure UN agency called the International Seabed Authority is finalizing regulations for the emergent industry. Around a dozen countries currently support a temporary or permanent halt to deep-sea mining, but a majority vote by the ISA's 167 member states is required to stop the practice. Approval of the practice will almost certainly set off an undersea gold rush.
💡What else are we reading and seeing?
Bill Gates: The risks of AI are real but manageable
Data and Compute Are the Ultimate Flywheel
Meta’s Threads could be the Twitter replacement advertisers have been waiting for
Wall Street is worried Disney World could be losing its magic
TikTok-parent ByteDance to let US staff cash out on stock
Microsoft strikes another multi-billion dollar AI partnership
😎Fun Fact
The Hawaiian alphabet has only 12 letters: A, E, H, I, K, L, M, N, O, P, U, and W.
🐦Tweet of the Day
Enjoy The Cash Nut? Consider forwarding it to a co-worker, colleague, classmate, or whoever you think might be interested.
Keep an Eye on our Weekly newsletter, where we gonna share resources like Financial Models, AI tools, and much more.
That’s it from our side for today.