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Top stories today:
- Trump, Elon discuss advisory role in potential 2nd term
- CoreWeave plans IPO in H1 2025
- Mistral releases Codestral model, #1 open-weights coding model
- GPT-4 leads in 3 out of 4 Scale AIās new LLM rankings
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. Trump, Elon discuss advisory role in potential 2nd term
āThe role hasnāt been fully hammered out and might not happen.ā
[They] ātalk on the phone several times a month,ā discussing āimmigration, technology and science, including the U.S. Space Force.ā
Elon doesnāt want to only hand out cash, he wants the influence.
2. CoreWeave plans IPO in H1 2025
Later this year: interviews with investment banks.
$19B: last valuation.
$7.5B in debt raised in May.
$2.4B in revenue was projected for 2024 in 2023, but actual revenue could be even higher.
4. Mistral releases Codestral model, claimed to be #1 open-weights coding model
Non-commercial use only, with suspicions that it was trained on copyrighted content.
22B model.
Trained on 80+ languages, including Python, Java, C, C++, and JavaScript.
Codestral still underperforms vs. GPT-4 and other closed models (see more below)
5. GPT-4 leads in 3 out of 4 Scale AIās new LLM rankings
It leads in instruction following (text), coding, and Spanish, while Claude 3 Opus leads in math:
In our favorite LMSYS Chatbot Arena Leaderboard, Geminiās May version jumped ahead of Claude 3 Opus
Now just behind OpenAIās GPT-4o:
6. Interesting videos, posts, and memes
7. Other headlines
AI
Perplexity in talks to raise $250M at $3B from Bessemer.
Groq reporting 1.1K tokens per second after Sambaās 1K record.
Altman weighs converting OpenAI into a for-profit corporation.
Apple to use black box processing to protect privacy in its AI usecases.
Gavin Newsom surprisingly warns against over-regulating AI.
Palantir wins $480M AI computer vision deal with Army.
The Atlantic, Vox Media sign licensing agreements with OpenAI.
Nebius AI: Fight for the best price on your H100 GPU cluster.*
*Sponsored.
Tech
HPās revenue -1% to $12.8B in quarter.
Salesforceās revenue +11% to $9.2B, as op. margin rises to 18.7%.
Apple TV+ app likely coming to Android.
AST SpaceMobile stock +69% after Verizon satellite internet deal.
Google confirms leaked Search algorithm docs are real.
Solutions by Text raises $110M after bootstrapping for decade.
Athyna: hire incredible global talent with the same company that Bay Area Times uses!*
*Disclaimer: Bay Area Times is a shareholder in Athyna.
Tech & law
China to impose exports controls on aviation tech starting Jul 1.
Biotech
Natural Cycles, worldās 1st contraceptive app, raises $55M.
MDMA may be approved by FDA in Aug.
Novo Nordiskās $8B plan to expand its semaglutide production: deep dive.
Business
Crypto
Gemini Earn users will get back $2.2B of crypto in-kind.
PayPalās PYUSD on Solana to introduce confidential transfers.
Uniswap Wallet App makes it easy to swap crypto on the go.*
*Sponsored.
U.S. politics
Trump jury does not reach decision on 1st day, asks to rehear testimony.
World
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