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Code Llama, Meta's code-generating AI model, launches as open-source and for commercial use

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Top stories today:

  1. Code Llama, Meta's code-generating AI model, launches
  2. Hugging Face confirms $235M fundraising by Google, NVIDIA
  3. Semaglutide produces “largest benefit ever” for heart failure
  4. Trump returns to Twitter with mugshot photo after 2-year hiatus
  5. China's imports of chipmaking equipment surge ahead of curbs

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Code Llama, Meta's code-generating AI model, launches as open-source and for commercial use

  • Supports most popular languages: “Python, C++, Java, PHP, Typescript (Javascript), C#, Bash and more.”

  • 3 model sizes: 7B, 13B, and 34B.

  • 100K tokens of context (input).

  • 500B tokens was the size of the training set.

  • Code Llama – Python and Code Llama – Instruct are 2 fine-tuned versions of the model. - The Verge, Meta, paper

Code Llama performs similarly to GPT-3.5 Turbo, but worse than GPT-4

2. Hugging Face confirms $235M fundraising by Salesforce, Google, Amazon, NVIDIA

It now jumps to the #5 most valued generative AI unicorn:

  • GitHub for AI models.

  • 100x+ ARR.

  • 10K customers, 50K organizations, 1M repos. - Techcrunch

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4. Semaglutide (Ozempic/Wegovy) produces “largest benefit ever” for patients with heart failure subgroup

  • 1 year of semaglutide led to:

    • 17 point reduction in the 100-point KCCQ-CSS heart failure scale, vs 9 points for placebo.

    • 13% weight loss, vs. 3%.

    • 44% reduction in CRP, vs. 7%.

    • 50% reduction in serious adverse events (13% vs. 27%). - CNN, study

It is likely that tirzepatide (Mounjaro) will be even better, given it is more efficacious against weight loss

  • Why are governments taking so long to approve tirzepatide?

    • Only U.S., EU, and Australia have approved the drug. - Wikipedia

5. Trump returns to Twitter with mugshot photo after 2-year hiatus

Trump owns competitor Truth Social and had an agreement to only post on other platforms with a 6-hour lag

  • The exclusivity agreement appeared to have expired: “From December 22, 2021, until the expiration of 18 months thereafter, (the “TMTG Social Media Exclusivity Term”), President Trump has agreed to first channel any and all social media communications and posts coming from his personal profile to the Truth Social platform.”

    • “In the event of a force majeure as described in the License Agreement that lasts longer than 30 days, President Trump shall have the right to invoke the suspension of the “DJT/TMTG Social Media 6-Hour Exclusive.” - Reuters, SEC filing

6. China's imports of chipmaking equipment surge ahead of export curbs

  • July 23: when Japan started enforcing export restrictions.

  • Sep. 1: when Netherlands will kick off its enforcement. - FT

7. Interesting tweets, memes, and videos

Jay Powell spotted at Jackson Hole:

8. Other headlines


  • OpenAI names Scale AI “preferred partner” to fine-tune GPT-3.5 Turbo.

  • Modular raises $100M for AI developer tools.

  • Ideogram, text-to-image AI, launches with $16.5M, led by a16z.

  • 8 startups challenging NVIDIA in AI chips.


  • OnlyFans GMV +17% YoY to $5.6B in 2022.

  • Shein acquiring 1/3 of Forever 21's parent.

  • Amazon in talks with Disney about streaming ESPN at $20-35/mo.

  • Better falls 93% after SPAC public offering.

  • RNC's lawsuit against Google is dismissed by federal judge.

  • Drones: Walmart, Alphabet's Wing to test 6-mile deliveries.

  • WeWork lenders, funds discuss potential bankruptcy plan.

  • Uber raises minimum age for new CA drivers to 25, citing insurance costs.

  • Affirm revenue +23% to $446M in Q2, net result worsens to -$206M.

  • Dropbox ends unlimited storage, capping top plan at 5TB/user.

  • Threads reiterates promise to be integrated into fediverse.



  • China stimulus rally last 10min, after Beijing announces stimulus.

  • Fed rates close to peak: Fed officials at Jackson Hole.

  • 1% downpayment: Zillow's new offer as mortgage rates hit high.

  • SpaceX sued by DOJ for alleged bias, likely just followed laws.

  • Heineken sells Russian business for $1.

  • Leveraged loans not securities: federal appeals court.

  • CNN Max is new streaming channel on Warner's Max.

  • Michael Jordan now worth $3.5B, richest basketball player ever.

  • T-Mobile to lay off 7% of workforce, 5K employees.


  • Binance halts credit card issuance after Visa, MasterCard step back.

  • SBF likely not to get Adderall in prison.

  • Vessel Capital launches with $55M in VC fund.

U.S. politics

  • Trump replaces Georgia lawyer before surrendering, has mugshot taken.

  • Maui sues Hawaiian Electric for allegedly starting fire.

  • Vivek consolidates as #2 in GOP race.

  • 13M tuned into FOX to watch GOP debate.


  • Prigozhin's crash likely bomb ordered by Putin: U.S. officials.

    • Last days of Prigozhin were on the run.

    • Putin expresses condolences, says Prigozhin made “mistakes.”

  • F-16 training by U.S. for Ukrainians to start in Oct.

  • Saudi Arabia looks for China to build nuclear plant.

  • China launches “anti-corruption” crackdown on health sector.

  • Taiwan President requests military budget of $14B, 2% of GDP.

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