Apple Acquires AI Startup🤝 Major Internet Outages Hit Several African Countries🤕

Good morning. It's Friday, Mar. 15, and we're covering, Under Armour Shares Plummet as Kevin Plank Returns as CEO, Linnartz Steps Down, Apple Acquires AI Startup Specializing in Manufacturing Component Oversight, Schumer Calls for Israel Elections Amidst Growing Rift with Netanyahu, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.61 Trillion, a 5.91% in the last 24 hours.

• The total crypto market volume over the last 24 hours is $197.36B, which makes a 42.50% increase.

• The total volume in Defi is currently $16.14B, 8.18% of the total crypto market 24-hours.

• The volume of all stablecoins is now $178.67B, which is 90.52% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 51.56%, a decrease of 0.59% over the day.

BUSINESS & FINANCE

Under Armour Shares Plummet as Kevin Plank Returns as CEO, Linnartz Steps Down

Under Armour, the athletic apparel company, witnessed a sharp decline in its stock price, plummeting approximately 12% following the announcement of CEO Stephanie Linnartz's resignation and the return of Kevin Plank as CEO. The abrupt leadership change has raised concerns among investors and analysts about the company's future direction and strategy.

Takeaway: The return of Plank as CEO raised questions about the company's direction, with analysts expressing skepticism about the potential acceleration of revenue growth and the impact on the brand's long-term prospects. The challenges facing the retail industry, including soft demand and inventory management issues, further compounded the market's apprehensions. ( Read Deeper )

Major Internet Outages Hit Several African Countries

Several countries across Africa, including South Africa, Nigeria, Ghana, Liberia, Ivory Coast, and others, have been grappling with internet disruptions, causing widespread connectivity issues and impacting various sectors. Internet connectivity in affected countries has been severely impacted, with reports indicating drops to as low as 4% in the Ivory Coast, 17% in Liberia, and 25% in Ghana.

Why it matters: The internet disruptions have had profound implications for individuals and businesses across the affected countries. Citizens have expressed frustration over the inability to access essential services, conduct online transactions, and communicate via social media platforms. ( Read Deeper )

TECHNOLOGY & SCIENCE

Apple Acquires AI Startup Specializing in Manufacturing Component Oversight

Apple has made another strategic move in the realm of artificial intelligence (AI) with its acquisition of DarwinAI, a Canadian startup renowned for its expertise in vision-based technology for monitoring manufacturing components. While the deal has not been formally announced by either party, key members of DarwinAI's team have reportedly joined Apple's machine learning division, indicating the acquisition.

Why it matters: While Apple has faced competition from rivals such as OpenAI, Google, Meta, and Microsoft in the AI space, the acquisition of DarwinAI signals its intent to bolster its AI offerings and catch up with industry leaders. ( Read Deeper )

Biden to Announce Multi-Billion Dollar Grant for Intel Chip Expansion in Arizona

President Joe Biden, alongside Commerce Secretary Gina Raimondo, is set to unveil a significant grant for Intel's chip production expansion in Arizona next week. The multi-billion-dollar award, part of America's initiative to bolster domestic semiconductor output, underscores the administration's efforts to enhance U.S. competitiveness in the global chip industry.

Takeaway: The primary objective of these grants is to reduce dependency on foreign semiconductor manufacturers, particularly in China and Taiwan. With the share of global semiconductor manufacturing capacity in the U.S. declining over the years, the initiative aims to bolster domestic production and ensure supply chain resilience. ( Read Deeper )

AROUND DE WORLD & POLITICS

Schumer Calls for Israel Elections Amidst Growing Rift with Netanyahu

US Senate Majority Leader Chuck Schumer has called for Israel to hold elections to replace Prime Minister Benjamin Netanyahu. Schumer's call comes amid escalating tensions between the two nations over Israel's handling of the conflict in Gaza and concerns regarding Netanyahu's leadership. While the US remains Israel's closest ally and largest provider of military aid, tensions have been mounting within the Biden administration and among some members of his party regarding Israel's approach to the conflict.

Takeaway: The timing of Schumer's statement is particularly notable, as it coincides with heightened scrutiny of Israel's actions in Gaza and broader international efforts to address the Israeli-Palestinian conflict. President Joe Biden has also expressed concerns over Israel's military response in Gaza and called for increased humanitarian aid to the region. ( Read Deeper )

Suspected Houthi Attack Strikes Ship in Red Sea Amid Rising Tensions

In the early hours of Friday, a ship sailing in the Red Sea off the port city of Hodeida fell victim to a suspected attack believed to have been carried out by Yemen's Houthi rebels. The vessel, reportedly struck by a missile, sustained damage, according to the United Kingdom Maritime Trade Operations Center. Fortunately, the crew aboard the ship has been confirmed as safe, and the vessel is continuing its journey, indicating that the damage inflicted may not be severe.

Takeaway: There are concerns that the Houthis might possess hypersonic missiles, potentially increasing their threat level and putting pressure on Israel after a failed cease-fire deal in Gaza. ( Read Deeper )

ENTERTAINMENT & SPORTS

Liverpool Cruise Past Sparta Prague in Europa League Rout, Bradley Pays Tribute to Klopp

Liverpool's resounding victory over Sparta Prague in the Europa League round of 16 second leg was not just a testament to their footballing prowess but also a tribute to departing manager Jurgen Klopp. Defender Conor Bradley expressed the team's desire to win every trophy possible for Klopp after their dominant performance secured a spot in the quarter-finals. ( Read Deeper )

Olivia Rodrigo Champions Reproductive Health Care on "Guts" World Tour in Missouri

During her "Guts" world tour stop in St. Louis, Missouri, on March 13, pop sensation Olivia Rodrigo partnered with the Missouri Abortion Fund to advocate for reproductive health care by distributing condoms and boxes of emergency contraception to concert attendees. The initiative, which aligns with Rodrigo's commitment to women's rights, received praise from fans and healthcare professionals alike. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Do I need to pivot and add AI to my business? ( Listen )

EXTRA BREVITI

• In addition to EIP-4844, Dencun also introduced significant upgrades bolstering block space efficiency ( Read More )

• A new ad from Under Armour featuring boxer Anthony Joshua has come under fire from creatives on Instagram after its director claimed it was the first AI-powered sports commercial ( Read More )