Brought to you by:
Top stories today:
- Databricks raises $10B at $62B amid AI-driven analytics boom
- OpenAI updates o1 model, expands it to API for certain developers
- Fed expected to cut rates by 25 bps today at 2 PM ET
- Google unveils FACTS Grounding benchmark to evaluate LLM factuality
- Nissan explores merger with Honda, driving record share surge
- U.S. retail sales exceed expectations on jump in automobile
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.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of the few hallucinations):
1. Databricks raises $10B at $62B valuation amid AI-driven analytics boom
4th most highly valued U.S.-based startup after SpaceX, OpenAI, and Stripe.
āNon-dilutive,ā suggesting the transaction was purely secondary.
IPO expected in 2025.
Thrive Capital led the round, with a16z, DST Global, GIC, and GIC among key investors.
+57% YoY in revenue to $2.6B projected for the fiscal year ending in Jan.
-5% YoY in operating loss to $418M projected.
Gain clarity and control to help connect your work to your business goals.
Collaborate easily, communicate clearly, and bridge silos across your organization.
Collaborate easily, communicate clearly, and bridge silos across your organization.
*Sponsored.
3. OpenAI updates o1 reasoning model, expands it to API for certain developers
āImproves on areas of model behavior based on feedback,ā OpenAI said:
o1 in the API comes with support for function calling, developer messages, Structured Outputs, and vision capabilities.
Developers on āTier 5ā (requiring $1K in spend) can access o1 in the API.
$15/$60 per 1M tokens for input/output, vs. $2.5/$10 for GPT-4o.
4. Fed expected to cut rates by 25 bps today at 2 PM ET
