Apple And Nvidia To Invest In OpenAI 💰️

Good morning. It's Friday, Aug. 30, and we're covering, Apple And Nvidia Want To Join OpenAI's $100 Billion Funding Round, Intuitive Machines Secures $116.9 Million NASA Contract For 2027 Moon Mission, Israel To Pause War In Gaza For Polio Vaccination Campaign, 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 $2.09 Trillion, a 1.69% increase in the last 24 hours. 💰️ 

• The total crypto market volume over the last 24 hours is $66.63B, which makes an 11.71% decrease.

• The total volume in Defi is currently $3.15B, 4.73% of the total crypto market 24-hours.

• The volume of all stable coins is now $62.31B, which is 93.51% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 59.23%, an increase of 0.05% over the day.

BUSINESS & FINANCE

Apple And Nvidia Want To Join OpenAI's $100 Billion Funding Round

Apple and Nvidia are reportedly in talks to join OpenAI's latest funding round, which could value the AI company at over $100 billion. Thrive Capital is expected to lead the round with a $1 billion investment. Microsoft, OpenAI's largest investor, is also anticipated to participate. Apple’s interest aligns with its growing focus on artificial intelligence, having already integrated OpenAI's ChatGPT into its devices. OpenAI’s valuation surged after its launch of ChatGPT in 2022, which sparked an AI race across industries.

Takeaway: Apple's interest in OpenAI aligns with its growing focus on artificial intelligence. In June, Apple integrated OpenAI's chatbot, ChatGPT, into its devices as part of its "Apple Intelligence" initiative. Nvidia’s involvement in the funding round would further strengthen its position in the AI industry, given its role in providing the hardware necessary for AI advancements. (Read Deeper)

Dell Beats Estimates With 80% Surge In Server Sales

Dell Technologies reported quarterly results, with an 80% surge in server sales driven by demand for AI-oriented servers, particularly those built around Nvidia chips. The company posted revenue of $25.06 billion, exceeding expectations, and an 85% increase in net income to $841 million. Dell’s Infrastructure Solutions Group (ISG), which includes servers and data center systems, saw sales rise 38% to $11.65 billion.

Takeaway: Dell's storage business, also part of ISG, saw a 5% decline to $4 billion in sales. The company's Client Solutions Group, focused on PCs and laptops, experienced a 4% drop in revenue to $12.41 billion, with consumer sales falling 22% to $1.86 billion. Dell spent $1 billion on share repurIntuitive Machines Secures $116.9 Million NASA Contract For 2027 Moon Missionchases and dividends during the quarter. Despite the recent stock decline, Dell shares have risen 48% year-to-date. (Read Deeper)

TECHNOLOGY & SCIENCE

Intuitive Machines Secures $116.9 Million NASA Contract For 2027 Moon Mission

Intuitive Machines has won a $116.9 million NASA contract to send a moon lander to the lunar south pole in 2027. This is the company's fourth award under NASA's Commercial Lunar Payload Services (CLPS) program. The mission will carry six NASA payloads, including instruments to study lunar regolith and measure radiation. The lunar south pole has water ice deposits but difficult terrain and is of significant scientific interest. Intuitive Machines is also preparing for two other moon missions scheduled for later this year and 2025.

Why It Matters: The contract will see the company deliver six NASA payloads to the moon, with additional capacity available for commercial customers. Among the six NASA payloads on this mission is a suite of European Space Agency (ESA) instruments designed to extract and analyze subsurface lunar regolith samples. These samples will help assess potential moon resources and develop technologies for future extraction. (Read Deeper)

Ampersand Raises $2 Million To Expand Electric Motorcycles Across East Africa

Ampersand, a Rwandan electric motorcycle manufacturer, has raised $2 million in a Series A extension to support its expansion into other East African countries. This brings the company's total funding to $21.5 million, with backing from investors like AHL Venture Partners and Everstrong Capital. Ampersand aims to accelerate the rollout of its EV energy technology and infrastructure, aiming to deploy 5 million electric motorcycles by 2033.

Takeaway: Founded in 2016 by Joshua Whale, Ampersand produces electric motorcycles that are cheaper and more environmentally friendly than petrol alternatives. The company operates 18 charging stations across Kigali and Nairobi. This new funding comes ahead of a Series B round to further scale production. In June 2024, Ampersand partnered with China's BYD to build 40,000 electric motorcycles by 2026. ( Read Deeper )

AROUND DE WORLD & POLITICS

Israel To Pause War In Gaza For Polio Vaccination Campaign

Israel has agreed to implement pauses in fighting in Gaza starting in September to facilitate a large-scale polio vaccination campaign, according to United Nations and Israeli officials. The campaign will aim to vaccinate around 640,000 children across Gaza after the discovery of the virus in the Strip’s sewage in June. The pause will occur in three phases, targeting central, southern, and northern Gaza over separate three-day periods.

Takeaway: This initiative comes as polio vaccine coverage in Gaza has dropped, risking a wider outbreak. The campaign is backed by multiple international organizations, including the World Health Organization, UNICEF, and the Palestinian Ministry of Health, in coordination with Israel and Hamas. Despite the agreement on these pauses, some experts express concern that the three-day intervals may not be sufficient to achieve the desired vaccination coverage. (Read Deeper)

Russian Destroyed Ukrainian F-16, Pilot Killed

One of the F-16 fighter jets recently supplied to Ukraine by NATO allies was destroyed in a Russian missile attack on Monday. The pilot, Oleksiy Mes, was killed but had managed to intercept and destroy several Russian missiles and a drone before the crash. Ukrainian officials have stated that the crash was not directly caused by a missile strike but occurred amidst the broader attack. Ukrainian President Volodymyr Zelensky confirmed that the F-16s are being used to defend against Russian drones and missiles.

Takeaway: The F-16s complement existing Western-supplied surface-to-air missile systems like Patriot and NASAMS and are critical in defending against advanced Russian munitions, including glide bombs equipped with guidance modules. The loss of the F-16 is a setback for Ukraine's defense efforts. President Zelensky is expected to present a "victory plan" to US President Joe Biden next month. (Read Deeper)

ENTERTAINMENT & SPORTS

Angelina Jolie Receives 8-Minute Standing Ovation At Venice Film Festival

Angelina Jolie was the star of the night at the Venice Film Festival, receiving an emotional eight-minute standing ovation for her portrayal of Greek opera singer Maria Callas in Pablo Larraín’s biographical drama Maria. Overcome with emotion, Jolie wept as the Sala Grande Theatre audience cheered, recalling similar ovations in Venice that launched Oscar campaigns, such as Brendan Fraser's for The Whale in 2022. (Read Deeper)

Naomi Osaka Falls To Karolina Muchova In US Open 2nd-Round Match

Naomi Osaka's comeback run at the US Open ended with a second-round loss to Karolina Muchova in straight sets, 6-3, 7-6 (5). Despite her efforts to rally in the second set, Osaka was ultimately outplayed by Muchova, who advanced to the US Open semifinals last year. Muchova overpowered Osaka with her strong forehand in the first set and gained momentum from Osaka's crucial errors in the second. Osaka, a two-time US Open champion (2018, 2020), had shown promise after her first-round upset of No. 10 seed Jelena Ostapenko but could not find consistency against Muchova. (Read Deeper)

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EXTRA BREVITI

• Nigeria’s Securities and Exchange Commission (SEC) has issued provisional licenses to two cryptocurrency exchanges, Quidax and Busha. (Read More)

• Abdul Samad Rabiu, chairman of BUA Cement, revealed on Thursday his company's plan to reduce the price of cement from N4,500 to N3,500 per bag. (Read More)

• Bitcoin Whales as Potential Sellers Create Uncertainty in the Crypto Market. (Read More)