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Top stories today:
- Eli Lilly strikes $2.75B deal with Insilico for AI-developed drugs
- Meta to unveil Ray-Ban smart glasses for prescription wearers this week
- xAI loses last cofounder Ross Nordeen, ending Elonās founding team
- Physical Intelligence said to seek $1B round at $11B+ valuation
- Kalshi secures margin trading license to attract institutional investors
- Metaās Avocado seen testing multiple AI variants, including 9B model
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 hallucinations):
1. Eli Lilly strikes $2.75B deal with Insilico for AI-developed drugs
Insilico Medicine shares closed +3% Mon. after rising as much as 15%, their strongest intraday rally in ~2 months:
Insilico will receive $15M upfront, with the rest tied to regulatory and commercial milestones.
The deal also includes royalties on future sales.
Insilico has developed at least 28 drugs using GenAI, ~50% of them are already in clinical stages, CEO Alex Zhavoronkov said.
2023: Eli Lilly and Insilico signed an AI software licensing deal.
Insilico develops AI outside China but conducts early preclinical work there.
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3. Meta said to launch Ray-Ban smart glasses for prescription wearers this week
Rectangular and rounded styles are expected.
Codenamed Scriber and Blazer, they are not next-gen Meta smart glasses.
ā[B]illions of people wear glasses or contacts,ā Mark Zuckerberg said, hinting at a broader push into prescription wearers.
4. xAI loses last cofounder Ross Nordeen, ending Elonās founding team
Nordeen has also lost the badge on X that identifies him as an xAI employee:
