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  • Reddit files for IPO, showing -$91M in net income for 2023

Reddit files for IPO, showing -$91M in net income for 2023

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Top stories today:

  1. Reddit files for IPO, showing -$91M in net income for 2023
  2. NVIDIA beats Meta’s record, adding $277B in market cap in 1 day
  3. U.S. lands 1st spacecraft on moon since 1972
  4. Chrome introduces Gemini-powered “Help Me Write” tool
  5. Stable Diffusion 3 announced in early preview

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. Reddit files for IPO, showing -$91M in net income for 2023

Sam Altman controls 8.7% of the company’s stock

2. NVIDIA beats Meta’s record, adding $277B in market cap in 1 day

NVIDIA closed at $1.96T market cap, making it the world’s #4 most valuable company

NVIDIA co-founder and CEO Jensen Huang is now the world's 21st richest

  • Real-World Applications: Insights into how ChatGPT can solve everyday work challenges.

  • Productivity Boost: Tips for enhancing work efficiency with ChatGPT.

  • Actionable Examples: 100 practical uses in professional tasks.

  • Optimization Practices: Strategies for maximizing ChatGPT's effectiveness.

  • Work Future Insight: Exploring generative AI's impact on business processes.


4. U.S. lands 1st spacecraft on moon since 1972

5. Chrome introduces Gemini-powered “Help Me Write” tool

6. Stable Diffusion 3 announced in early preview, could become best open-source text-to-image AI model

7. Top 25% of TikTok users produce 98% of content

Calculating based on number of videos, regardless of views or length:

8. 52% of top news websites block OpenAI's crawler

9. Interesting videos, posts, and memes

10. Other headlines


  • Google updates AI features for advertisers with Gemini.

  • Google’s AI image generator taken offline over failed historical images.

  • Phind-70B claims to be on par with GPT-4 for coding.

  • Waymo's driverless robotaxi application on hold until Jun. 19.

  • Microsoft announces Generative Erase, AI feature to clean photos.

  • Jasper, AI startup, buys Clipdrop from Stability AI.

  • HubSpot: download 100 curated ChatGPT prompts, for free.*


Tech earnings


  • AT&T restores signal after 10-hour outage, blaming software update.

  • SubStack reaches 3M+ paid subscription.

  • Microsoft brings Wi-Fi 7 support to Windows 11, in preview.

  • Vice to cease publishing new stories on website.

  • citizenM has 14 tech-ready hotels stateside for the best night's sleep of your life.*



  • Fed’s Waller, seen by some as top 2 at FOMC, sees “no rush” to cut rates.

  • China's new home prices -1.2% YoY.

  • JPMorgan CEO sells ~$150M of shares.


  • Eigenlayer gets $100M from a16z.

  • FTX estate gets OK to sell 7.84% stake in Anthropic, worth $1B+.

  • Kraken seeks dismissal of SEC’s lawsuit, following Binance, Coinbase.

  • tea Protocol: click to subscribe to tea's newsletter and learn more about how to get rewards for your open-source contributions.*


U.S. politics

  • Trump seeks dismissal of classified docs criminal case, citing immunity.

    • Denied request to pay $355M+ in penalties.

  • Trump 62%, Haley 37% in SC, as primaries happen tomorrow.

  • Biden meets with Navalny’s widow, daughter.

  • Hunter Biden case: ex-FBI informant charged with lying re-arrested.


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