Microsoft And BlackRock Join Forces To Raise $100 Billion For AI Data Centers

Good morning. It's Wednesday, Sept. 18, and we're covering, Microsoft And BlackRock Join Forces To Raise $100 Billion For AI Data Centers, Neuralink’s FDA Clearance For ‘Blindsight’ Doesn’t Signal A Cure For Blindness, Hezbollah's Rising Tensions With Israel: Could It Lead To War?, 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 $2.08 Trillion, a 2.02% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $77.2B, which makes a 26.65% increase.

• The total volume in Defi is currently $3.63B, 4.71% of the total crypto market 24-hours.

• The volume of all stablecoins is now $70.77B, which is 91.67% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 57.29%, an increase of 0.55% over the day.

Bitcoin Surges Past $60,000 Ahead Of Fed Rate Decision

Bitcoin surpassed the $60,000 mark on Tuesday, buoyed by investor anticipation of the Federal Reserve's upcoming rate decision. The cryptocurrency was trading at $60,394.41, up 4.3% on the day, and reached an intraday high of $61,335.83. (Read Deeper)

BUSINESS & FINANCE

Microsoft And BlackRock Join Forces To Raise $100 Billion For AI Data Centers

Microsoft and BlackRock are leading a partnership to raise $100 billion for developing AI data centers and the energy infrastructure needed to power them. The Global Artificial Intelligence Infrastructure Investment Partnership (GAIIP), which includes Global Infrastructure Partners and UAE-based MGX, plans to initially raise $30 billion with a long-term goal of reaching $100 billion.

Why It Matters: This investment will help meet the rising demand for data centers with powerful GPUs running AI models. Microsoft CEO Satya Nadella highlighted the initiative’s focus on sustainable infrastructure growth. In addition to its role in GAIIP, BlackRock is moving forward with its acquisition of GIP, a deal valued at $3 billion in cash and 12 million shares of BlackRock stock. This acquisition is expected to close on October 1. (Read Deeper)

Federal Reserve Expected To Cut Interest Rates: What It Means For Your Bank Accounts

The Federal Reserve is preparing to cut interest rates for the first time since its aggressive rate hikes began in 2022. This decision marks a significant shift in the Fed’s efforts to control inflation, which peaked at 9.1% last year. After a series of 11 rate hikes to curb rising consumer prices, inflation has now fallen to 2.5%—close to the Fed's 2% target—leading to the anticipated rate cut.

Takeaway: For savers, a rate cut will likely lead to lower returns on checking, savings, and money market accounts, especially high-yield ones. Those using CDs might want to lock in longer-term CDs before rates drop further. For borrowers, lower interest rates will benefit those with personal loans, mortgages, and credit card debt. Credit card holders can expect gradual relief in interest charges, providing an opportunity to reduce debt faster. (Read Deeper)

TECHNOLOGY & SCIENCE

Neuralink’s FDA Clearance For ‘Blindsight’ Doesn’t Signal A Cure For Blindness

Neuralink, the brain-computer interface company owned by Elon Musk, received clearance from the FDA for its "breakthrough device" for its Blindsight technology, which is aimed at restoring limited vision for the blind. However, experts caution that this does not mean Neuralink has developed a cure for blindness, despite Musk’s optimistic claims. Blindsight uses a microelectrode array to stimulate the visual cortex, but current limitations make the visual effects minimal, resembling flickering lights rather than clear images.

Takeaway: For individuals blind from birth, the challenge is even greater. Their visual cortex has never fully developed the pathways necessary for sight, meaning that even with advanced technology, the brain might not interpret visual information in the same way as those who have previously had vision. The breakthrough clearance allows Neuralink to begin human trials, and while the company has made impressive strides. (Read Deeper)

NASA Awards Intuitive Machines $4.8B Contract To Build Lunar Communications Infrastructure

NASA has awarded Intuitive Machines a contract worth up to $4.82 billion to build a satellite constellation for continuous communication and navigation between Earth and the moon. This project, part of NASA's Near Space Network, will support future lunar missions, including plans to land humans on the moon’s south pole by the end of the decade. The initial guarantee is $150 million, but the contract could grow over five years.

Takeaway: Intuitive Machines, which went public last year, has seen substantial growth, reporting a 130% increase in revenue year-over-year, reaching $41.4 million in the second quarter of this year. The company is already involved in several NASA projects, including lunar lander services and the design of a next-gen lunar rover. (Read Deeper)

AROUND DE WORLD & POLITICS

Hezbollah's Rising Tensions With Israel: Could It Lead To War?

Hezbollah, the powerful Shia Muslim militant and political group in Lebanon, has escalated its conflict with Israel, raising fears of a potential full-scale war. Founded in the 1980s with the backing of Iran, Hezbollah was established to resist Israeli occupation in southern Lebanon. Over the years, it has become a political force in Lebanon, while its military wing has become one of the world’s most formidable non-state armies. An explosion, which occurred on Tuesday, resulted in the deaths of nine people and injuries to nearly 3,000, including Hezbollah fighters and Iran's envoy to Beirut.

Takeaway: Recent clashes began on October 8, 2023, a day after Hamas, another militant group, launched an unprecedented attack on Israel from Gaza. Hezbollah responded in solidarity by firing rockets into northern Israel, triggering a fierce Israeli counterattack. The clashes have resulted in hundreds of deaths, with both Hezbollah fighters and civilians affected, as well as Israeli casualties. Despite the violence, analysts believe both sides are trying to contain the situation to avoid an all-out war. (Read Deeper)

Secret Service Investigates Deleted Elon Musk Post About Biden And Harris

The U.S. Secret Service has acknowledged a now-deleted social media post by Elon Musk in which he questioned why there have been no assassination attempts on President Joe Biden and Vice President Kamala Harris. Musk made the comment on X (formerly Twitter), which he owns, after a man was arrested for allegedly plotting to assassinate former President Donald Trump. Musk's post received criticism from across the political spectrum, with many expressing concern that his words could incite violence. The Secret Service is investigating, though Musk later claimed his comment was intended as a joke.

Takeaway: Both President Biden and Vice President Harris, who is running for re-election in 2024 against Trump, issued statements on Sunday expressing gratitude that Trump had not been harmed and condemning political violence. The White House also responded to Musk’s post, with spokesperson Andrew Bates stating, “Violence should only be condemned, never encouraged or joked about. (Read Deeper)

ENTERTAINMENT & SPORTS

Sean 'Diddy' Combs Denied Bail Amid Shocking Allegations Of Sex Trafficking And Involving Guns

Sean "Diddy" Combs has been denied bail after pleading not guilty to charges of sex trafficking, racketeering conspiracy, and other serious crimes. The indictment accuses Combs of using his power to control women, arranging drug-fueled "freak offs" involving sex workers and using intimidation tactics like arson to silence victims. Federal agents raided his home earlier this year, seizing firearms and other incriminating materials. Despite offering a $50 million bond and limited travel, the judge denied bail. Combs’ legal team maintains his innocence as the case moves to trial. (Read Deeper)

Bayern Munich's Record-Breaking 9-2 Win Over Dinamo Zagreb

Bayern Munich made Champions League history with a dominant 9-2 victory over Dinamo Zagreb at the Allianz Arena. The win set a new record for the most goals scored in a game during the Champions League era (post-1992). Despite Dinamo Zagreb narrowing the score to 3-2 early in the second half, Bayern unleashed a barrage of six more goals, with Harry Kane playing a starring role. Kane scored four goals, including a hat-trick of penalties—another first in Champions League history. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• A live conversation with Mark Zuckerberg in front of 6,000 people on Meta’s company strategy, sharing stories from early Facebook history, and his thoughts on the future of AI, VR, and AR. (Listen)

EXTRA BREVITI

• New research is challenging the conventional understanding of life and death, as scientists explore the concept of a third state. (Read More)

• Snap Inc. has unveiled the latest version of its Spectacles augmented-reality (AR) glasses, doubling down on its bet that wearable AR devices. (Read More)

• Former U.S. President Donald Trump announced on Tuesday that he will meet with Indian Prime Minister Narendra Modi next week. ( Read More )