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Baidu stock +2% after reports that it will supply LLM for iPhone 16 in China

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Top stories today:

  1. Baidu stock +2% after news it may supply LLM for iPhone in China
  2. EV price cuts continue in China, with BYD’s Seagull hatchback -5%
  3. Insider selling reaches 3-year high as Thiel, Bezos, Zuck sell
  4. Stability CEO Emad Mostaque steps down
  5. SBF expected to get 15-to-50-year sentence on Thursday

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).

All times are ET.

1. Baidu stock +2% after reports that it may supply LLM for iPhone 16 in China

Baidu stock was +5% before closing at +2%, vs. 0% for the Hong Kong index:

2. EV price cuts continue in China, with BYD’s Seagull hatchback -5% to $9.7K

BYD Qin Plus, China’s top-selling car, saw its price -20% to $11.1K

EV cars in China are generally much cheaper than in the West:

  • Navigating a big transition is hard to do. It’s one thing to set a lofty goal, and it’s another thing to have the support system for yourself to follow through.

  • Sidebar’s approach is focused around small peer groups, a tech-enabled platform, and an expert-led curriculum. Members say it’s like having their own Personal Board of Directors.

  • “Providing and receiving support from others who play a similar role to you is one of the best ways to grow your capabilities and succeed.” - Vice President, Roku

  • Nothing will get you further in your career than learning from your peers - it’s a true competitive advantage. Join over 25,000 of top senior leads who have taken the first step at sidebar.com.

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4. Insider selling reaches 3-year high as Thiel, Bezos, Zuckerberg sell $100M’s in Feb.

5. Stability CEO Emad Mostaque steps down, to focus on “decentralized AI”

6. SBF expected to get 15-to-50-year sentence on Thursday

An example of prediction markets at Manifold Markets:

  • 6.5 years: what SBF’s lawyers asked for.

  • 40-50 years: what the prosecution asked for.

  • 110 years: maximum sentence allowed for the crimes he was convicted for.

7. Interesting videos, posts, and memes

8. Other headlines

AI

  • Anthropic won’t accept Saudi investors in FTX secondary sale.

  • OpenAI leaders to meet Hollywood execs this week in LA.

  • Google starts testing AI overviews from SGE in main search interface.

  • CoreWeave in talks to raise at $16B valuation, from $7B in 2023.

  • HeyGen raising $60M at $440M, 22x forward revenue of $20M.

  • RAD AI: AI marketing leader, 3X growth, trusted by Hasbro & MGM. Invest in AI today!*

* Sponsored. Disclaimer: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai.

Tech

  • Y Combinator raising $2B for new funds to cover next 2 years.

  • iOS 18 to allow for more customizable home screen app icons.

  • Didi’s revenue +55% to $6.9B in quarter, $0.1B profit.

  • Vision Pro to arrive in China in 2024: Tim Cook.

  • Apple abandons efforts to make Watch displays.

Tech & law

  • Beijing blocks use of Intel, AMD chips in government computers.

Biotech

Business

  • IMF chief: China faces a “fork” between policies that worked vs. new ones.

Crypto

  • Binance to discontinue USDC support on Tron.

  • Bitcoin ETFs see week of net outflows.

  • Uniswap: making it easier to buy, sell and trade tokens on Ethereum.*

*Sponsored.

U.S. politics

  • $1.2T funding bill (until Sep. 30) signed by Biden.

  • Trump has Mon. deadline for posting $464M bond.

  • Pence won’t endorse Trump, may start nonprofit policy shop.

  • Ronna McDaniel hired by NBC, faces backlash by Chuck Todd, others.

World

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