‘Magnificent seven’ stocks shed $2.6T in lead-up to busy earnings week
The world’s best-performing tech stocks have bled an average $125 billion market cap per day for the past 20 days while crypto market cap has risen 11%. Go to Source
Apple
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Apple Intelligence may be absent from initial iOS 18 rollout: Report
Apple’s new AI features will potentially arrive a few weeks later in October, giving developers more time to iron out potential bugs. Go to Source
TSMC becomes first Asian company to reach $1T as AI demand surges
The company is now worth more than Broadcom and closing in on Meta. Go to Source
Meta won’t launch new AI products in EU, citing ‘regulatory uncertainty’
The door is now wide open for Google and Microsoft to gain first movers’ advantage over the entire continent. Go to Source
Microsoft and Apple renounce OpenAI board membership
After investing $13 billion in OpenAI last year, Microsoft is distancing itself from the AI startup amid growing scrutiny from regulators. Go to Source
ChatGPT users on macOS shocked to learn chats were stored unencrypted
The problem has since been resolved, but it begs the question of how such an oversight happened in the first place. Go to Source
Mara Collapse: African Crypto Exchange Burns $16 Million for Salaries and Bonuses
Pan-African crypto exchange Mara reportedly lost approximately $16 million out of the $23 million raised from investors. Following the exchange’s collapse, founder and CEO Chinyere Nnadi is said to have launched a new entity called Jara. Nnadi reportedly argued that the exchange depleted its raised capital by paying high salaries to attract talent. CEO Avoids … Read more
Over 50% of US hedge funds have exposure to Bitcoin as BTC crushes stocks in 2024
Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin. Go to Source
Pantera Capital Calls Solana the ‘Mac OS of Blockchains,’ Highlights Architecture Benefits and Growing Adoption
Pantera Capital, an institutional asset manager focused on blockchain technology, has called Solana the “Mac OS of blockchains” in its latest blockchain letter. The firm details that the rise of Solana over Ethereum is reminiscent of what Microsoft experienced when Apple entered the market, highlighting Solana’s growing retail adoption and architectural advantages. Pantera Capital States … Read more
Apple supercharging Siri and iOS with ‘Apple Intelligence’ and OpenAI
Social media and tech news pundits haven’t responded positively to the nomenclature. Go to Source
