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Top stories today:
- Microsoft acquihires Inflection AI, including CEO Mustafa Suleyman
- GPT-5 coming likely during summer, āmaterially betterā than GPT-4
- Fed expected to keep rates at 5.25% - 5.50%
- Temu hopes to reduce U.S.'s GMV % to 30% in 2025
- Finland remains #1 in World Happiness Report, U.S. drops to #23
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. Microsoft acquihires Inflection AI, including CEO Mustafa Suleyman
Suleyman, former Deepmind, co-founder, to become CEO of Microsoft AI.
Investors to be made whole, having invested $1.5B.
Not a direct acquihire, potentially to avoid regulatory scrutiny.
Co-founder Reid Hoffman is a Microsoft board member.
Inflection to keep operating as an āAI studio business.ā
Our view: this strengthens Microsoftās position in the AI wars, but Google and Anthropic are running right behind
2. GPT-5 coming likely during summer, āmaterially betterā than GPT-4
GPT-4 already ranks on par with Claude 3 (in user voting, see below), even as Anthropic claims it has a higher MMLU score:
Still in training, and will require āred-teaming.ā
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4. Fed expected to keep rates at 5.25% - 5.50%, potentially signaling June cut, at 2:00 PM ET
Fed Chair Powell speaks at 2:30 PM ET.
