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- Baidu stock +2% after reports that it will supply LLM for iPhone 16 in China
Baidu stock +2% after reports that it will supply LLM for iPhone 16 in China
Bay Area Times
March 25, 2024
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Top stories today:
- Baidu stock +2% after news it may supply LLM for iPhone in China
- EV price cuts continue in China, with BYDās Seagull hatchback -5%
- Insider selling reaches 3-year high as Thiel, Bezos, Zuck sell
- Stability CEO Emad Mostaque steps down
- 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:
Ex-China, Anthropic could be Appleās partner for LLMs, although Google remains the favorite, followed by OpenAI.
2. EV price cuts continue in China, with BYDās Seagull hatchback -5% to $9.7K
BYD Qin Plus, Chinaās top-selling car, saw its price -20% to $11.1K
EV cars in China are generally much cheaper than in the West:
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4. Insider selling reaches 3-year high as Thiel, Bezos, Zuckerberg sell $100Mās in Feb.
Jeff Bezos sold $8.5B of Amazon stock in Feb.
Peter Thiel sold $175M of Palantir.
Zuckerberg sold $135M of Meta.
5. Stability CEO Emad Mostaque steps down, to focus on ādecentralized AIā
Mostaque says the decision was voluntary, and that he retains full board control of Stability AI.
Stability raised $50M from Intel in Nov, after reportedly having struggled to raise a larger round.
6. SBF expected to get 15-to-50-year sentence on Thursday
An example of prediction markets at Manifold Markets:
6.5 years: what SBFās 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 wonāt 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.
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Tech
Y Combinator raising $2B for new funds to cover next 2 years.
iOS 18 to allow for more customizable home screen app icons.
Didiās 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
Walter Longoās longevity diet: a profile.
Unlock Healthy Longevity Supplements conference: a look at.
Business
IMF chief: China faces a āforkā 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 wonāt endorse Trump, may start nonprofit policy shop.
Ronna McDaniel hired by NBC, faces backlash by Chuck Todd, others.
World
āNo Ukrainian involvementā in terrorist attack in Moscow: U.S.
4 gunmen charged, 19-to-32-year-olds from Tajikistan.
Poland demands explanation after Russian missile flies over airspace.
700 prisoners may be exchanged for 40 hostages: Israeli media.
Israelās defense minister, Yoav Gallant, to arrive in D.C. on Mon.
U.S., Japan plan biggest upgrade to security pact in 60 years.
Syrian refugee camps risk revival of ISIS.
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