Apple's iPhone 16 VS Huawei Tri-Fold Phone 📱

Good morning. It's Wednesday, Sept. 11, and we're covering, Amazon To Invest £8 Billion In U.K. Cloud And AI Infrastructure, Apple's iPhone 16 Faces AI Delays As Huawei Gains Ground with Tri-Fold Phone, Australia’s Prime Minister Proposes Social Media Ban For Children Under 16, 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 $1.99 Trillion, a 0.49% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $63.41B, which makes a 6.81% decrease.

• The total volume in Defi is currently $3.14B, 4.95% of the total crypto market 24-hours.

• The volume of all stable coins is now $58.13B, which is 91.67% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.01%, an decrease of 0.06% over the day.

BUSINESS & FINANCE

Amazon To Invest £8 Billion In U.K. Cloud And AI Infrastructure

Amazon Web Services (AWS) announced a £8 billion ($10.45 billion) investment over the next five years to expand its data center operations in the U.K. This move aims to support growing demand for cloud computing and AI technology. AWS’s investment comes as businesses increasingly adopt generative AI for productivity and global competitiveness. The expansion also aligns with AWS’s broader European strategy, following similar investments in Germany and talks to grow its presence in Italy.

Why It Matters: AWS’s U.K. expansion plans coincide with an ongoing investigation by the U.K.’s Competition and Markets Authority (CMA) into competition in the cloud market. Both AWS and Microsoft are under regulatory scrutiny. This investment show AWS's commitment to playing a central role in the U.K.'s digital transformation. (Read Deeper)

InMobi Secures $100 Million In Debt Financing For AI Acquisitions Ahead Of IPO

InMobi, an Indian adtech startup, has raised $100 million in debt financing from Mars Growth Capital, a joint venture between MUFG and Liquidity Group. The funding will help InMobi ifurther improve its AI capabilities and pursue AI-related acquisitions ahead of its planned IPO next year, targeting a $10 billion valuation. InMobi owns Glance, a unicorn startup operating an Android lockscreen platform, which is separately seeking to raise more than $200 million.

Takeaway: InMobi, which works with clients like Mastercard and Samsung, has been exploring AI-driven ad interactivity and owns the Android lockscreen platform Glance. The company plans to shift its headquarters from Singapore to India as it prepares for the IPO. (Read Deeper)

TECHNOLOGY & SCIENCE

Apple's iPhone 16 Faces AI Delays As Huawei Gains Ground with Tri-Fold Phone

Apple's iPhone 16 launch has faced lukewarm reactions due to its delayed AI features, while competition from Huawei is intensifying. Apple's shares dropped 1.7% after the unveiling, with AI features like Apple Intelligence still in beta and expected to roll out in the U.S. later this year. The new AI-driven functions are meant to enhance Siri and camera capabilities but have yet to impress Chinese consumers, many of whom criticized the lack of immediate AI support.

Takeaway: Huawei has made waves with the debut of its Mate XT, a tri-fold phone priced at $2,800, showcasing AI-enhanced features like text summarization and image editing. Despite production constraints, Huawei has received over 4 million pre-orders, highlighting its strong comeback in the high-end smartphone market. Huawei’s resurgence is particularly notable in China, where Apple's market share has dropped, with iPhone shipments falling by 6.7% in Q2 2024. (Read Deeper)

Polaris Dawn's Spacewalk: A Historic And Risky Venture

SpaceX has embarked on its most ambitious human spaceflight mission to date, sending four individuals into orbit on the Polaris Dawn mission, launched early Tuesday morning. This private mission is set to achieve several milestones in space exploration, including flying through radiation belts and conducting the first commercial spacewalk.

Takeaway: SpaceX's Polaris Dawn mission is set to make history with the first-ever commercial spacewalk, featuring a crew of four: Jared Isaacman, Sarah Gillis, Anna Menon, and Scott Poteet. The crew will attempt a risky spacewalk outside the Crew Dragon spacecraft, exposing it to the vacuum of space. This requires a 48-hour pre-breathe procedure to prepare their bodies for the space environment. (Read Deeper)

AROUND DE WORLD & POLITICS

Australia’s Prime Minister Proposes Social Media Ban For Children Under 16

Australian Prime Minister Anthony Albanese has proposed legislation to ban social media use for children under a specific age, estimated to be between 14 and 16. The government plans to test age verification technology later this year to enforce the proposed ban, citing concerns about social harm caused by social media. Meta, which operates Facebook and Instagram, highlighted that their platforms already have a minimum age requirement of 13 and advocate for parental controls and monitoring rather than outright bans.

Why It Matters: The proposal aligns with similar efforts globally. In the US, lawmakers and states have considered or enacted regulations to limit social media access for teens. The debate continues as experts express growing concerns about the impact of social media on young users' mental health. (Read Deeper)

Dam Collapse In Nigeria Causes Severe Flooding

A dam collapse in northeastern Nigeria has led to severe flooding and the escape of dangerous reptiles from a local zoo. The Alau dam, which failed due to heavy rains, submerged about 15% of Maiduguri, the state capital. The flooding has forced evacuations and led to the deaths of around 80% of the zoo's animals, with some crocodiles and snakes escaping into nearby communities. Local authorities have issued a flooding alert and closed schools for two weeks.

Takeaway: The failure of the dam submerged approximately 15% of Maiduguri, the capital of Borno state. Authorities have yet to confirm the number of casualties, but the situation has led to widespread evacuations. Residents living near riverbanks have been ordered to leave their homes as the floodwaters continue to rise. (Read Deeper)

ENTERTAINMENT & SPORTS

Pochettino Appointed New Manager Of US Men's Soccer Team

Mauricio Pochettino, the former manager of Tottenham Hotspur and Chelsea, has been announced as the new head coach of the United States men's national soccer team. Pochettino, 52, takes over from Gregg Berhalter, who was dismissed in July after the team's early exit from the Copa America. US Soccer sporting director Matt Crocker, who led the search for Berhalter's replacement, highlighted Pochettino's successful track record and his ability to build competitive teams. (Read Deeper)

Taylor Swift Endorses Kamala Harris

Taylor Swift has endorsed Kamala Harris for the 2024 presidential election following Harris's debate against Donald Trump. Swift praised Harris as a capable leader and voiced her support for Harris and vice-presidential candidate Tim Walz. She also addressed concerns about misinformation and urged voters to research candidates and consider early voting. Swift's endorsement, shared on Instagram, came soon after the debate, and Walz responded positively to her support. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• How Bill Miller saw Amazon's potential early on, despite skepticism from many traditional investors, could illustrate his forward-thinking approach and willingness to embrace unconventional opportunities. (Listen)

EXTRA BREVITI

• Google has announced a $10 million partnership with direct-air capture (DAC) startup Holocene to help remove carbon dioxide emissions from the atmosphere. ( Read More )

• People generally dislike engaging in mental effort, a finding that holds implications for educators worldwide. (Read More)

• Europe's top court has upheld a 2.4 billion euro ($2.65 billion) fine against Google for antitrust violations. (Read More)