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  • Google announces faster Gemini 1.5 Flash, Pro with 2M context window, but no news on Ultra

Google announces faster Gemini 1.5 Flash, Pro with 2M context window, but no news on Ultra

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Top stories today:

  1. Google announces faster Gemini 1.5 Flash, no Ultra news
  2. Ilya Sutskever resigns as OpenAI’s Chief Scientist
  3. TikTok creators sue U.S. government over potential ban
  4. CPI, core CPI expected to continue above target, out at 8:30 AM ET

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. Google announces faster Gemini 1.5 Flash, Pro with 2M context window, but no news on Ultra

Google quietly revised down their MMLU estimate for Gemini Ultra from 90% to 83%

Google now lags behind OpenAI and Anthropic, with Meta’s open models also representing a big threat:

Google announced their text-to-video Veo model, that generates 1-minute 1080p videos

Gemini in Workspace is being updated, now with a side panel experience

  • Assistant features in Gmail and Docs.

  • Gradual roll-out starting now.

Other news from Google I/O

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3. Ilya Sutskever resigns as OpenAI’s Chief Scientist

4. TikTok creators sue U.S. government over potential ban

5. CPI, core CPI expected to continue above target, out at 8:30 AM ET

  • CPI: exp. 0.4% MoM / 3.4% YoY, from 0.4% / 3.5%.

  • Core CPI: exp. 0.3% / 3.6%, from 0.4% / 3.8%.

6. Chamath’s Social Capital releases annual letter, showing 29% gross IRR of latest investments

7. Billions of FTX claims trade as value >100%

  • 118% payout expected around Dec. for <$50K claims.

8. Interesting videos, posts, and memes

9. Other headlines

AI

  • xAI in talks with Oracle about spending $10B to rent cloud servers.

  • TSMC: construction of 1st Europe plant to start in Q1.

  • David Sacks reveals Glue AI, his alternative to Slack.

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  • Ai4 2024: Join the industry’s leading AI conference, Aug. 12-14 in Las Vegas.*

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Tech

  • Raspberry Pi considering London IPO: statement.

  • BYD Shark pickup truck launches in Mexico for $53K.

  • Apple says it stopped $7B in potential frauds between 2020 and 2023.

  • Comcast to launch Peacock, Netflix, Apple TV+ bundle.

  • Reddit stock +6% to $10.1B market cap as meme stocks return.

  • Huawei accelerating openings of Apple-like stores in China.

  • Alibaba’s revenue +8% to $30.7B, net income -86% to $0.5B.

Tech & law

  • YouTube complying with HK court order, blocking protest anthem videos.

Business

  • China weighs buying millions of unsold homes.

  • Vanguard names Salim Ramji as new CEO.

  • DOJ: Boeing breached 2021 737 MAX criminal prosecution deal.

  • Athyna: hire incredible global talent with the same company that Bay Area Times uses!*

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Crypto

  • Polymarket gets $70M investment led by Founders Fund.

  • Circle redomiciling in U.S., from Ireland, ahead of listing.

  • Tornado Cash dev found guilty, sentenced to 64 months by Dutch court.

  • North Korea laundered $147M in stolen crypto in Mar.: UN.

  • El Salvador mined $29M BTC since 2021.

U.S. politics

World

  • U.S. weighs sending another Patriot missile battery to Ukraine.

  • Biden admin sending $1B in arms to Israel.

  • Russia makes advances across Ukrainian lines: map.

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