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- OpenAI launches Sora, text-to-video AI model, in research preview
OpenAI launches Sora, text-to-video AI model, in research preview
Top stories today:
- OpenAI launches Sora, text-to-video AI model, in research preview
- Gemini 1.5 Pro launches with 1M-token context window
- TikTok launches app for Vision Pro
- Coinbase returns to profitability as revenue +50% YoY to $905M
- Mr. Beast's empire at ~$700M in revenue in 2023
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. OpenAI launches Sora, text-to-video AI model, in research preview
<=1-minute videos can be generated with Sora, vs. 3 seconds for some of the already available options like Pika or Runway.
Available only to red teamers and “a number of visual artists, designers, and filmmakers.”
Our view: Sora is a leap in quality above other text-to-video AIs, and it will only get better from here
Detecting that these videos are AI-generated can be hard, especially if one isn't focused on doing so.
These models will increasingly threaten stock video and low-quality videographers, just as ChatGPT/DALL-E has been doing for text/images.
Google Deepmind is rumored to launch its “Gemini Video” soon, which will be exciting to watch.
Relatedly, the FTC is seeking public comment on a rule that would punish AI impersonation.
2. Gemini 1.5 Pro launches with 1M-token context window
1M token is approximately 100K lines of code/text or 1 hour of video.
Similar in quality to Gemini 1.0 Ultra, according to Google, but we'll wait on 3rd-party benchmarks.
Only available now to business users and developers, via Google's Vertex AI and AI Studio.
In testing: 10M-token context window.
Gemini 1.5 Pro is at the level of Gemini 1.0 Ultra and beats GPT-4 in information retrieval, according to Google
LEV Foundation was co-founded by Dr. Aubrey de Grey, one of the early pioneers in the longevity field.
Their 2 main projects are Robust Mouse Rejuvenation and Transplants on Demand.
Your donation can literally save your life, or the life of your closed ones. - Donate to the LEV Foundation.
*Sponsored.
4. TikTok launches app for Vision Pro
Comes as Netflix and YouTube have not released official apps yet.
5. Coinbase returns to profitability as revenue +50% YoY to $905M in Q4
Net income: $273M, a 30% margin.
Coinbase has struggled with profitability even as it remains at #1 in market share in the U.S.
Stock +14% after hours.
6. Mr. Beast's empire at ~$700M in revenue in 2023, with brands paying ~$3M for shout-outs
0% profit margin, as Mr. Beast says, “whatever we make, we reinvest.”
7. Retail sales -0.8% MoM in Jan., surprising negatively vs. -0.2% expected
Retail sales: -0.8% MoM / 0.65% YoY in Jan., vs. exp. -0.2% MoM, from 0.4%/ 5.3% in Dec.
Core retail sales: -0.6%, vs. 0.2%, from 0.4%.
Short-term rates were little changed.
8. $22.2B was laundered through crypto in 2023, from $31.5B in 2022
9. Interesting videos, posts, and memes
10. Other headlines
AI
Apple nears launch of Xcode coding copilot.
Sam Altman's $7T fundraising not only covers chip costs.
OpenAI's VC fund (temporarily) owned by Altman, not OpenAI.
Meta releases V-JEPA AI model that could supersede Transformers.
“GPT” trademark for OpenAI rejected by Patent Office.
Lambda, startup selling AI cloud computing, raises $320M at $1.5B.
LangChain raises $25M Series A, led by Sequoia.
MindStudio: free webinar to start building AI apps in a single afternoon.*
*Sponsored.
Tech
DoorDash's revenue +27% YoY to $2.3B in Q4.
Roku's revenue +14% to $984M, surpassing 80M subscribers.
“Davos of Defense” kicks off in Munich.
Xbox Game Pass subscribers +36% YoY to 34M.
Toast to cut 12% of staff, eliminating 550 employees.
YouTube now allows for music video integration into Shorts.
Meta starts passing Apple's 30% tax for boosted posts to advertisers.
Masterworks: invest in shares of paintings by Banksy and Picasso.*
*Sponsored.
Tech & law
Kids Online Safety Act gets 60 supporters in Senate, TBD in House.
Apple confirms iPhone web apps won't work in EU.
Biotech
Wegovy could be approved for cardio diseases, FDA commissioner suggests.
Alzheimer’s: researchers prevent memory deterioration in mouse model.
Abdominal fat correlates with cognitive decline in humans.
Business
Import price index +0.8% MoM in Jan. above 0.0% expected.
Nike to cut 2% of workforce, eliminating ~2K employees.
Truth Social (Trump's app) SPAC merger deal wins SEC approval.
Crypto
U.S. regulators can influence USDT via OFAC: JPMorgan.
U.S. politics
House GOP wants budget cuts to avoid partial shutdown on Mar. 1.
Harvard hit with Congressional subpoena.
Trump NY criminal trial to start on Mar. 25.
Fani Willis denies misconduct in romantic relationship with lead prosecutor.
Hunter Biden-linked informant charged with lying.
World
Netanyahu: 2-state solution only with direct negotiation, not unilaterally.
Egypt fortifies Gaza wall ahead of Israel's Rafah offensive.
Russia’s space nuclear capability not likely in near future: sources.
Ukraine again accuses Russia of using “1000s” of Starlink terminals.
Tucker Carlson's Putin interview airs at 7 AM in Russia, fails to crack top 10.
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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.
Please read our Terms of Service and our Privacy Policy before using Our Service.