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Microsoft introduces Phi-3 small language models, with its 7B version outperforming Llama 3 8B

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Bay Area Times
April 23, 2024

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Top stories today:

  1. Microsoft introduces Phi-3, with 7B version outperforming Llama 3 8B
  2. Meta starts licensing Quest’s Horizon OS to 3rd-party headsets
  3. Tesla expected to report 1st sales drop since Covid at 5:30 PM ET
  4. Binance’s spot market share drops from 81% in 2023 to 55% in 2024

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 introduces Phi-3 small language models, with its 7B version outperforming Llama 3 8B

  • Phi-3 3.8B available today, and the 7B and 14B versions expected soon.

  • Our view: open large and small language are competing head-to-head with closed ones, but still lag behind in multimodality.

    • Llama 3 400B may change this.

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3. Meta starts licensing Quest’s Horizon OS to 3rd-party headsets

  • 1st partners: Microsoft, Asus, and Lenovo.

  • Our view: Meta is positioning itself as the Android to Apple’s iOS or the Windows to Apple’s macOS.

    • Note the 2nd best usually goes for open systems.

4. Tesla expected to report 1st sales drop since Covid at 5:30 PM ET, as stock drops to Jan. 2023 low

Tesla stock dropped for the 7th consecutive day on Monday to a 16-month low

5. Binance’s spot market share drops from 81% in 2023 to 55% in 2024

6. SPVs for AI startups on AngelList hit record 12% of total in 2024

7. Interesting videos, posts, and memes

8. Other headlines

AI

  • Apple acquires French AI startup specialized in on-device tools.

  • HubSpot: Empower Your Business with AI: Your Essential Guide Awaits!*

*Sponsored.

Tech

  • Rippling confirms $200M raise at $13.4B led by Coatue.

  • Apple’s China iPhone sales -19% in Q1: new study.

  • Informatica says it’s not for sale, after rumors of Salesforce’s bid.

  • Amazon ends drone program in CA, planning AZ one later in year.

  • Ghost, newsletter platform, adopts ActivityPub protocol.

  • Goldman selling Marcus Invest to Betterment.

*Sponsored.

Tech & law

  • Chinese universities obtained high-end NVIDIA chips through resellers.

  • Meta spokesman Andy Stone sentenced to 6 years in Russia in absentia.

  • TikTok receives 2nd EU probe, focused on TikTok Lite.

  • Oracle privately met with Senate aids over TikTok ban bill.

Biotech

  • Novartis’s sales + 10%YoY to $11.8B in Q1, lifts guidance.

  • Rubedo raises $40M for clinical trials of senolytics.

  • Exercise reduces stress-related brain activity to lower cardiovascular risk.

Business

Crypto

  • FTX estate to sell remaining locked SOL via auction.

  • Mt. Gox nears return of $9B BTC in 2014 bankruptcy case.

  • Ripple proposes $10M penalty instead of $1.95B in SEC case.

  • Runes tokens start being listed on centralized exchanges.

U.S. politics

  • Trump’s 1st day of NY criminal trial: opening statements.

  • Classified docs: Trump urged to return them 1 year before search: FBI docs.

  • Biden weighs legal status to immigrant spouses of U.S. citizens.

  • House GOP infighting worse after $95B foreign aid vote.

World

  • Israel preps Rafah evacuation, potentially to Khan Younis, before operation.

  • Polish President: we’re ready to host nuclear weapons.

  • North Korea carries out 1st nuclear counterattack drills.

  • UK Parliament approves Rwanda deportation bill.

  • Sanctions against Chinese banks helping Russia being drafted by U.S.

  • Australia criticized by Elon for ordering removal of stabbing video.

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