Meta Introduces Llama 3 😄 Israel Conducts Strike in Iran 🔥

Good morning. It's Friday, Apr. 19, and we're covering, Tesla Move Ahead With Electric Truck Charging Corridor Despite Funding Setback, Meta Introduces Llama 3: A Game-Changer In AI Generative Models, Israel Conducts Strike in Iran Amid Rising Tensions, 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 $2.3 Trillion, a 3.30% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $102.85B, which makes a 5.12% increase.

• The total volume in Defi is currently $7.27B, 7.07% of the total crypto market 24-hours.

• The volume of all stablecoins is now $96.74B, which is 94.05% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 54.09%, a decrease of 0.13% over the day.

As the countdown to the Bitcoin halving event inches closer, the anticipation in the cryptocurrency community is reaching a fever pitch. Adding to the excitement, Bitwise CEO Hunter Horsley has made a bold prediction, suggesting that Bitcoin's price could skyrocket to $100,000 post-halving. ( Read More )

BUSINESS & FINANCE

Tesla Move Ahead With Electric Truck Charging Corridor Despite Funding Setback

Tesla remains undeterred in its pursuit of an ambitious plan to construct an electric big rig charging corridor spanning from Texas to California, despite missing out on federal funding earmarked for such infrastructure projects under President Biden's Bipartisan Infrastructure Law. While Tesla's original vision for the project may undergo revisions, the company is determined to press forward with its electrification efforts. Tesla sought nearly $100 million from the Charging and Fueling Infrastructure (CFI) Discretionary Grant program administered by the Federal Highway Administration (FHWA).

Why it matters: The envisioned 1,800-mile corridor would serve as a vital link between Tesla's North American vehicle factories, including a planned facility in Mexico. Each charging station was originally designed to feature eight 750kW chargers for Tesla Semis and four chargers accessible to other electric trucks. ( Read Deeper )

TSMC Exceeds Expectations in Q1 Amid Soaring Demand for AI Chips

Taiwan Semiconductor Manufacturing Company (TSMC) has outperformed expectations in the first quarter of the year, driven by robust demand for advanced chips, particularly those utilized in artificial intelligence (AI) applications. As the world's leading producer of cutting-edge processors, TSMC continues to attract major clients like Nvidia and Apple, positioning itself at the forefront of technological innovation. TSMC's strategic investments in advanced chip development, including the transition to 3-nanometer technology, position the company for sustained growth in the long term.

Takeaway: In the first quarter, TSMC reported net revenue of NT$592.64 billion, surpassing the NT$582.94 billion expected, with net income reaching NT$225.49 billion, exceeding the NT$213.59 billion anticipated. This performance reflects a 16.5% increase in net revenue and an 8.9% rise in net income compared to the previous year. Notably, TSMC anticipates revenue for the second quarter to range between $19.6 billion and $20.4 billion, demonstrating sustained momentum. ( Read Deeper )

TECHNOLOGY & SCIENCE

Meta Introduces Llama 3: A Game-Changer In AI Generative Models

Meta's release of Llama 3, its latest iteration of open generative AI models. The Llama 3 family includes two models: Llama 3 8B and Llama 3 70B, with 8 billion and 70 billion parameters, respectively. According to Meta, these models represent a substantial improvement over their predecessors, offering enhanced performance across various benchmarks. Meta claims that Llama 3 8B outperforms other open models like Mistral 7B and Google's Gemma 7B on several benchmarks, including MMLU, ARC, and DROP. Similarly, Llama 3 70B competes favorably with flagship generative AI models, such as Gemini 1.5 Pro, surpassing them on multiple metrics.

Takeaway: One of the standout features of the Llama 3 series is its enhanced "steerability" and accuracy across various domains, including coding, creative writing, reasoning, and summarization. Powered by a massive dataset comprising 15 trillion tokens, seven times larger than its predecessor. ( Read Deeper )

Apple Complies with Chinese Order To Remove WhatsApp And Threads From App Store

Apple has confirmed that it has removed Meta Platforms' WhatsApp and Threads from its App Store in China following a directive from the Chinese government citing national security concerns. This move show the challenges faced by tech companies operating in China's tightly regulated digital environment. While other Meta apps such as Facebook, Instagram, and Messenger remain available in the Chinese App Store, WhatsApp and Threads have been delisted in compliance with the order from the Cyberspace Administration of China.  

Why it matters: The reasons behind the Chinese government's national security concerns regarding WhatsApp and Threads are not immediately clear. Some experts speculate that the removal of WhatsApp and Threads could be linked to a new regulation implemented last August, which mandates all apps available in China to register with the government or face removal. ( Read Deeper )

AROUND DE WORLD & POLITICS

Israel Conducts Strike in Iran Amid Rising Tensions

Israel has reportedly conducted a strike in Iran, according to information provided by a senior U.S. official. While Israeli authorities have not officially confirmed the attack, it is believed to be a response to a prior missile and drone assault launched by Iran against Israel. The Biden administration was reportedly informed in advance about the Israeli strike, with a U.S. official noting that they were not taken by surprise by the action. Israeli Prime Minister Benjamin Netanyahu's aide has refrained from providing any comments on the matter, leaving the situation open to speculation.

Takeaway:  Reports from Iran indicate that explosions were heard in Isfahan, a city in central Iran, near an Iranian air force base. Iranian state TV has reported the downing of several drones by air defenses in the region, with further reports suggesting activation of air defense systems across the country. ( Read Deeper )

India Elections: Can Anyone Beat Narendra Modi?

India's highly popular Prime Minister, Narendra Modi, is poised for another victory as the nation prepares for its largest democratic exercise. Despite facing opposition from a coalition of parties, Modi's Bharatiya Janata Party (BJP) is expected to secure a third consecutive win, propelled by economic growth and support from the Hindu majority. The main challenge to Modi's dominance comes from the Indian National Developmental Inclusive Alliance (INDIA), a coalition led by the Indian National Congress (INC). However, opposition parties have alleged that Modi's government has employed tactics such as raids, intimidation, and legal action to undermine their campaigns.

Why it Matters: As the world's largest democracy, India's political stability and foreign policy decisions have global ramifications. The election outcome will shape India's role on the international stage and its relationships with key geopolitical players. ( Read Deeper )

ENTERTAINMENT & SPORTS

Champions League and Europa League: How England Ended Up with No Semi-Finalists in Top Two Competitions

For only the third time in the 21st century, England finds itself without a representative in the semi-finals of the Champions League or Europa League, raising questions about the nation's dominance in European football. Manchester City and Arsenal bid farewell to their Champions League hopes after defeats to Real Madrid and Bayern Munich, respectively, in the quarter-finals. Similarly, Liverpool and West Ham succumbed to Atalanta and Bayer Leverkusen, respectively, in the Europa League quarter-finals. ( Read Deeper )

Why Taylor Swift Fans Are Convinced 'Tortured Poets' Album Is About Joe Alwyn Split

As Taylor Swift's eagerly anticipated album "The Tortured Poets Department" nears its release, Swifties are abuzz with speculation about its content, particularly its potential connection to her former beau, Joe Alwyn. Swift revealed the album's impending launch shortly after clinching her 13th Grammy win, igniting a frenzy among fans who swiftly took to social media to dissect potential ties to Alwyn. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Found yourself wondering why hitting that first $100,000 milestone in your business feels like such a big deal?( Listen )

EXTRA BREVITI

• Meta, is promoting its AI services across its platform. The company has introduced several updates, including integrating its upgraded AI chatbot, powered by its latest large language model called Llama 3 ( Read More )

• Oil Surges 3% and Gold Hits Record High Following Israel's Strike in Iran ( Read More )

• With the highly anticipated Bitcoin halving event just hours away, here's a roundup of essential information to help you navigate the cryptocurrency Space.( Read More )