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Top stories today:
- Elon’s X said to be in talks to raise funds at $44B
- OpenAI’s o3 likely to surpass Elon’s Grok 3 across benchmarks
- Trump floats 25% tariffs on U.S. auto, drug, chip imports
- HP to buy AI Pin maker Humane’s assets for $116M
- DOGE effort saved estimated $50B so far, Treasury Secretary says
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 today’s newsletter (beware of hallucinations):
1. Elon’s X said to be in talks to raise funds at $44B, matching 2022 Twitter buyout
The fundraising comes as Musk expands his role in Trump’s administration.
Musk’s Trump ties have helped X regain top advertisers, including Apple.
X’s debt has also undergone a recent re-valuation to the upside.
Dec.: Fidelity Investments marked down Twitter’s stake by about 70% from the $44B sale price.
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3. OpenAI’s o3 likely to surpass Elon’s Grok 3 across benchmarks
o3 initial scores shared by OpenAI cross Grok 3’s early results on the Artificial Analysis Intelligence Index:
Grok 3 Reasoning is, however, likely to beat o3-mini and DeepSeek R1.
Tue.: The Grok 3 family of AI models were released by Elon’s xAI.
Grok 3 has emerged as the leading non-reasoning model on Artificial Analysis’s benchmark
Independent analysis of Grok 3's performance is yet to be released due to limited access.
4. Trump floats 25% tariffs on U.S. auto, drug, chip imports, effective from Apr. 2
