Elon Musk’s xAI Unveils Grok 3🧠

☀️Good morning. It's Tuesday, Feb. 18, and we're covering, Southwest Airlines Announces First Major Layoffs In 53-Year History,  Elon Musk’s xAI Unveils Grok 3, A Major AI Model Upgrade With New Features, Delta Regional Jet Flips Upside Down On Landing At Toronto Airport, 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 $3.14 Trillion, a 1.62% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $94.29B, which makes a 43.31% increase.

• The total volume in Defi is currently $7.01B, 7.44% of the total crypto market 24-hours.

• The volume of all stablecoins is now $86.51B, which is 91.75% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 60.20%, an increase of 0.39% over the day.

Abu Dhabi Wealth Fund Reveals $460 Million Bitcoin Purchase

Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, has revealed it holds $460 million in BlackRock’s Bitcoin ETF, becoming the seventh-largest shareholder. This move is seen as a signal that Bitcoin may be increasingly accepted as a legitimate asset by global wealth funds. Bill Barhydt, CEO of Abra, speculated that other funds, like those from Norway and Singapore, could follow suit. (Read Deeper)

BUSINESS & FINANCE

Southwest Airlines Announces First Major Layoffs In 53-Year History

Southwest Airlines (LUV) is cutting 1,750 corporate jobs, or 15% of its corporate workforce, marking the first major layoffs in the company’s 53-year history. The job cuts will primarily affect corporate overhead and leadership positions, including 11 senior leadership roles. CEO Bob Jordan described the decision as necessary to create a “leaner, faster, and more agile organization.”

Takeaway: The layoffs, expected to be completed by the end of June, aim to save $210 million in 2025 and $300 million in 2026. This move comes after the airline offered buyouts to airport staff last year and faced pressure from Elliott Investment Management to boost profits. Despite a truce reached in October, Elliott secured board seats, maintaining influence over Southwest’s leadership as the company’s stock continues to decline. (Read Deeper)

Reserve Bank Of Australia Cuts Rates For First Time In Over Four Years

The Reserve Bank of Australia (RBA) has cut its benchmark interest rate by 25 basis points to 4.10%, marking its first rate reduction in over four years. The decision follows a softening of inflation, which has dropped to 2.4%, within the RBA’s target range of 2-3%. While the RBA indicated that the easing cycle may be short-lived, with only two more cuts expected, it remains cautious due to uncertainties surrounding economic growth and the labor market.

Takeaway: The Australian economy has been growing slowly, and although inflation is easing, there are concerns that consumption may not pick up as expected. This rate cut provides some relief to the government as it heads into a challenging election year, but it also highlights the ongoing uncertainties in the country’s economic outlook. (Read Deeper)

TECHNOLOGY & SCIENCE

Elon Musk’s xAI Unveils Grok 3, A Major AI Model Upgrade With New Features

Elon Musk’s AI company, xAI, has unveiled its latest flagship model, Grok 3, marking a significant upgrade from its predecessor, Grok 2. Designed to rival top AI models like OpenAI’s GPT-4 and Google’s Gemini, Grok 3 can analyze images, answer questions, and power various features on Musk’s social network, X. The model was trained using a massive data center in Memphis with 200,000 GPUs, utilizing 10 times more computing power than Grok 2 and an expanded dataset that includes court filings. Upcoming features include a “voice mode” and integration into xAI’s enterprise API.

Takeaway: Grok 3 is part of a family of models that includes a smaller, faster variant called Grok 3 mini, though some versions are still in beta. Early benchmarks suggest it outperforms competitors on tests like AIME and GPQA, and new reasoning capabilities enable it to carefully work through complex problems in math, science, and programming. A new feature called DeepSearch, which scans the internet and X for in-depth research, is available through the Grok app, with enhanced functionalities offered under the SuperGrok subscription plan. (Read Deeper)

Ilya Sutskever’s Startup Valued Over $30 Billion Amid $1 Billion Fundraising Round

OpenAI co-founder Ilya Sutskever’s startup, Safe Superintelligence (SSI), is raising over $1 billion at a valuation exceeding $30 billion—a massive leap from its previous $5 billion valuation. The funding round, led by San Francisco-based Greenoaks Capital Partners with a planned $500 million investment, places SSI among the world's most valuable private tech companies. Previous funding for SSI includes investments from Sequoia Capital and Andreessen Horowitz.

Takeaway: Founded by Sutskever alongside Daniel Gross and Daniel Levy, SSI is focused on developing safe AI systems and is currently not generating revenue nor planning to sell AI products soon. Sutskever, who left OpenAI in May after playing a pivotal role in its technology and the 2023 CEO controversy involving Sam Altman, stated that SSI’s first product will be a "safe superintelligence," designed to work independently of external market pressures. (Read Deeper)

AROUND DE WORLD & POLITICS

Delta Regional Jet Flips Upside Down On Landing At Toronto Airport

A Delta Air Lines regional jet flipped upside down upon landing at Toronto Pearson Airport amid windy weather following a snowstorm, injuring 18 of the 80 passengers on board, including three critically. The CRJ900 aircraft, operated by Delta’s Endeavor Air subsidiary, originated from Minneapolis-St. Paul International Airport. The Transportation Safety Board of Canada, assisted by the U.S. NTSB, is investigating the crash.

Takeaway: The 16-year-old Bombardier CRJ900 lost at least one wing during the crash. Passengers described a sudden sideways and upside-down landing. While Pearson Airport reported high winds and blowing snow at the time, the airport’s fire chief later stated the runway was dry with no crosswind conditions, a claim disputed by pilots. Mitsubishi Heavy Industries, which acquired the CRJ program from Bombardier in 2020, pledged full cooperation. (Read Deeper)

Protesters Rally Against Elon Musk’s DOGE In NYC On Presidents' Day

On Presidents' Day, over 10,000 protesters gathered in New York City to oppose Elon Musk’s Department of Government Efficiency (DOGE), a controversial initiative created by an executive order from President Trump. The protests, part of nationwide demonstrations, criticized DOGE’s sweeping reforms, which have included firing nearly 10,000 federal workers, offering buyouts to 75,000 more, and dismantling key government agencies.

Why It Matters: Protesters expressed concerns over Musk’s increasing power as an unelected official, particularly regarding DOGE’s access to sensitive personal data and its influence over the Treasury’s digital payments system, which manages trillions of dollars in federal transactions. Many voiced fears that these actions could undermine national security, promote unchecked corporate power, and threaten democracy. (Read Deeper)

ENTERTAINMENT & SPORTS

Everton Fans Get First Look At New Stadium: 'It's Out of This World'

Everton fans got their first look at the club's new stadium at Bramley-Moore Dock during an under-18s friendly against Wigan. The £750 million, 52,888-seat stadium, set to open fully in the 2025-26 season, blends modern design with historical elements. Fans were awed by its size and futuristic structure, which includes restored features like a Victorian hydraulic tower. The South Stand, open for the event, offered stunning views of the Liverpool skyline. (Read Deeper)

Barcelona Edge Past Rayo Vallecano To Reclaim Top Spot In La Liga

Barcelona beat Rayo Vallecano 1-0 to move back to the top of La Liga for the first time since December. Robert Lewandowski scored the only goal of the game with a first-half penalty, his 20th league goal of the season. The penalty came after a controversial VAR decision, with Rayo's Pathe Ciss penalized for pulling down Barcelona’s Inigo Martinez. Rayo was denied a penalty for a similar incident and had a goal ruled out for offside. Barcelona wasted several chances in the second half but held on for the win. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• YouTube sensation MrBeast (Jimmy Donaldson) shared key insights into his business philosophy and approach to content creation. He emphasized the importance of relentless dedication, continuous improvement, and a deep understanding of one's audience. (Listen)

EXTRA BREVITI

• Milei Denies Wrongdoing over Crypto scandal, faces legal and political backlash. (Read More)

• Tesla begins mass production of revamped Model Y in Shanghai factory. (Read More)

• UK Prime Minister Sir Keir Starmer has stressed the necessity of a "US backstop" to ensure any peace deal. (Read More)

• OpenAI is considering granting special voting rights to its non-profit board to prevent hostile takeovers. (Read More)