Apple And Meta To Explore AI Partnership 📱

Good morning. It's Monday, Jun. 24, and we're covering Nvidia Expands AI Presence In the Middle East, Synthesia Launches Advanced AI Video Production Features, Police And Orthodox Priest Killed By Gunmen In Russia, 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 $2.27 Trillion, a 3.48% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $50.84B, which makes a 55.81% increase.

• The total volume in Defi is currently $3.97B, 7.80% of the total crypto market 24-hours.

• The volume of all stablecoins is now $46.22B, which is 90.92% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 54.19%, a decrease of 0.20% over the day.

BUSINESS & FINANCE

Nvidia Expands AI Presence In the Middle East With Ooredoo Partnership

Nvidia has signed an agreement with Qatari telecom giant Ooredoo to deploy its AI technology in data centers across five Middle Eastern countries. This partnership, Nvidia's first large-scale launch in the region, comes amidst U.S. restrictions on exporting advanced AI chips to prevent Chinese firms from accessing the latest technology through Middle Eastern back doors. Ooredoo's CEO, Aziz Aluthman Fakhroo, stated that this agreement will give their B2B clients a significant advantage in deploying generative AI applications over their competitors.

Why it matters: The deal will enable Ooredoo to provide Nvidia’s AI and graphics processing technology to clients in Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives. Ooredoo is investing $1 billion to expand its data center capacity by 20-25 megawatts, aiming to nearly triple it by the end of the decade. ( Read Deeper )

China and EU Begin Talks on Electric Car Tariffs Amid Trade Tensions

The European Union (EU) and China have initiated negotiations to discuss potential tariffs on Chinese electric vehicles (EVs) entering the EU market. This comes after the EU threatened tariffs ranging from 17.4% to 38.1% due to concerns over alleged unfair subsidies benefiting Chinese EV manufacturers. The talks, described as "candid and constructive," mark the first formal engagement between the two sides since the tariff threat was announced. Germany and the European automotive industry have expressed apprehensions about the potential tariffs, fearing negative impacts on trade relations and industry dynamics.

Takeaway: The EU alleges that Chinese EVs benefit from state subsidies that distort competition, while China has accused the EU of protectionism and breaching international trade rules. Despite these frictions, both sides have committed to continued engagement in the coming weeks to find a mutually agreeable solution. ( Read Deeper )

TECHNOLOGY & SCIENCE

Apple And Meta To Explore AI Partnership

Apple and Meta are in talks to integrate Meta's generative AI model into Apple's new AI system, Apple Intelligence. This collaboration could enhance AI capabilities on iPhones and other Apple devices. Apple has already partnered with OpenAI to integrate ChatGPT into Apple Intelligence and is considering partnerships with other AI companies like Google, Anthropic, and Perplexity. These partnerships involve AI companies offering premium subscriptions through Apple Intelligence, with Apple taking a percentage of the subscription revenue, similar to its App Store model.

Takeaway: The discussions between Apple and Meta highlight the evolving nature of the AI industry, where strategic partnerships are becoming crucial. If finalized, the collaboration could set a new standard for how tech giants work together to advance AI technology. While no final agreements have been reached, the potential partnership between Apple and Meta is promising. ( Read Deeper )

Synthesia Launches Advanced AI Video Production Features

British AI startup Synthesia, backed by Nvidia, has introduced several innovative AI features designed to transform video production for large companies. The updates include creating AI avatars using a webcam or phone, full-body avatars with hand movements, and a screen recording tool guided by AI avatars. Synthesia, initially targeting Hollywood for AI dubbing tools, shifted focus to democratizing video creation. This pivot allows users to create expressive AI avatars from any location, eliminating the need for studio visits.

Takeaway: Users can now generate AI avatars by recording brief footage using a webcam or phone, making the process more accessible. This tool produces summaries of articles and documents, enhancing business communications like HR announcements. ( Read Deeper )

AROUND DE WORLD & POLITICS

Police And Orthodox Priest Killed By Gunmen In Russia

On Sunday, gunmen launched coordinated attacks across two cities in Russia's North Caucasus region of Dagestan, targeting a synagogue, an Orthodox church, and a police post. These attacks resulted in the death of an Orthodox priest, Nikolai Kotelnikov, and multiple police officers. Governor Sergei Melikov confirmed that over 15 police officers were victims of what he described as a terrorist attack, with Interfax reporting at least 15 police deaths. Several civilians were also killed. Six gunmen were killed in the aftermath. Governor Sergei Melikov declared June 24-26 as days of mourning.

Takeaway: The region has a history of Islamist insurgency, but recent years have seen fewer attacks. The incident comes after an earlier attack by the Islamic State on a concert hall near Moscow. No group has claimed responsibility for the current attacks. ( Read Deeper )

Netanyahu Walks Back Proposal For Gaza Hostage-Ceasefire Deal Endorsed By Biden

Israeli Prime Minister Benjamin Netanyahu's recent statements regarding negotiations with Hamas over a proposed ceasefire and hostage release deal. Netanyahu indicated that he is now interested in a "partial deal" with Hamas, which would involve the release of only some of the hostages held in Gaza, contrary to earlier proposals endorsed by U.S. President Joe Biden. This shift in Netanyahu's stance has sparked criticism from within Israel and among international stakeholders, including accusations that he is abandoning a broader agreement endorsed by the UN Security Council.

Takeaway: Tensions between Netanyahu's government and the Biden administration have also been exacerbated by Netanyahu's recent claims of reduced U.S. military aid shipments to Israel. ( Read Deeper )

ENTERTAINMENT & SPORTS

Worldwide Interest For Beatles Single At Auction

A rare 1962 demonstration record by The Beatles, featuring the hit songs "Love Me Do" and "P.S. I Love You," is expected to sell for up to £9,000 at an auction. This seven-inch vinyl is one of only 250 ever made and is unique due to the misspelling of Paul McCartney's surname as "McArtney." The record, pressed and distributed to TV and radio stations before its official release on October 5, 1962, has attracted global interest from Beatles fans. The auction will be held by Stacey's Auctioneers in Chelmsford, Essex, with vinyl specialist Rob Smee noting its significance to collectors. ( Read Deeper )

Copa América: USMNT Win Over Bolivia On Goals From Pulisic And Balogun

In its first pre-test at the 2024 Copa América, the U.S. Men's National Team (USMNT) secured a 2-0 victory over Bolivia at AT&T Stadium. Christian Pulisic, known as Captain America, set the tone early with a stunning goal in the third minute, alleviating any concerns from the American fans and dampening Bolivian confidence. Folarin Balogun added a second goal in the second half, ensuring the win and putting the game beyond Bolivia's reach. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• How to Identify and Refine Your Core Values to Build a Better Business ( Listen )

EXTRA BREVITI

• Israeli Prime Minister Benjamin Netanyahu's statement that the "intense phase" of the conflict with Hamas in Gaza is nearing its end, with attention likely shifting to Israel's northern border with Lebanon. ( Read More )

• China's ByteDance, the parent company of TikTok, is partnering with semiconductor giant Broadcom to develop an advanced AI chip. ( Read More )