📈Nvidia's Stock Hit A Record High

☀️Good morning. It's Tuesday, Oct. 15, and we're covering, Nvidia Poised To Overtake Apple As World’s Most Valuable Company, Google Partners With Nuclear Startup Kairos Power To Fuel AI Data Centers, Israel Airstrike Kills 21 People In A Christian Town, 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 $2.28 Trillion, a 2.34% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $90B, which makes a 46.20% increase.

• The total volume in Defi is currently $4.73B, 5.25% of the total crypto market 24-hours.

• The volume of all stablecoins is now $81.77B, which is 90.86% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.81%, an increase of 0.06% over the day.

Bitcoin Surges Past $65,000 As Altcoins Rally

Bitcoin surged above $65,000, its highest in two weeks, driven by China's recent economic stimulus efforts, which boosted demand for riskier assets like cryptocurrencies. Altcoins, including Ethereum and Solana, also rallied alongside Bitcoin. Despite optimism for a strong October, analysts remain cautious, warning against relying on seasonal patterns due to market volatility. (Read Deeper)

BUSINESS & FINANCE

Nvidia Poised To Overtake Apple As World’s Most Valuable Company

Nvidia's stock hit a record high on Monday, bringing the company close to overtaking Apple as the world’s most valuable company. Nvidia's market value rose to $3.39 trillion, just below Apple's $3.52 trillion. This surge is fueled by strong demand for Nvidia’s AI chips, which power major tech companies’ AI applications. Analysts expect Nvidia's annual revenue to more than double, despite a delay in its next-generation Blackwell chips. Nvidia, Apple, and Microsoft now comprise about 20% of the S&P 500’s weight. Investors remain optimistic, but cautious about potential slowdowns in AI spending.

Takeaway: Earlier this year, Nvidia briefly held the title of the world’s most valuable company, a position that has since rotated among Apple, Microsoft, and Nvidia as their market capitalizations remained close. Currently, Nvidia's market value sits above Microsoft's $3.12 trillion. Taiwan Semiconductor Manufacturing Co. (TSMC), Nvidia’s primary chip manufacturer, is also benefiting from the AI surge and is expected to report a 40% jump in quarterly profits later this week. (Read Deeper)

Boeing Strike Passes One-Month Mark As New CEO Faces Mounting Pressure

Boeing's factory strike has entered its second month, putting new CEO Kelly Ortberg under increasing pressure. Over 30,000 machinists remain on strike after rejecting a contract proposal, costing Boeing over $1 billion per month. Ortberg announced plans to cut 10% of Boeing’s workforce and delay production of key aircraft models, including the 777X. The strike has halted production at Boeing's factories, and negotiations with the machinists' union remain deadlocked.

Takeaway: Boeing’s stock has dropped 42% this year, marking its steepest decline since 2008. The company hasn’t reported an annual profit since 2018, and Ortberg is expected to address investors for the first time as CEO during Boeing’s third-quarter earnings call on October 23. The labor dispute has become increasingly contentious. Last week, Boeing filed an unfair labor practice charge against the International Association of Machinists and Aerospace Workers (IAM), accusing the union of negotiating in bad faith. (Read Deeper)

TECHNOLOGY & SCIENCE

Google Partners With Nuclear Startup Kairos Power To Fuel AI Data Centers

Google has partnered with nuclear startup Kairos Power to build seven small modular reactors (SMRs) in the U.S. to supply 500 megawatts of nuclear energy to its AI data centers by 2035. This is the first corporate deal to utilize SMRs, which are smaller and cheaper to build than traditional reactors. The first reactor is expected to be operational by 2030. Kairos has received approval for a demonstration reactor in Tennessee, set for 2027. The company is developing and testing reactor components at its facility in Albuquerque, New Mexico.

Why It Matters: Google aims to leverage the new technology to meet the massive energy demands driven by its AI operations. Michael Terrell, Google’s Senior Director for Energy and Climate, emphasized the importance of the deal in scaling nuclear power quickly and cost-effectively. By ordering multiple reactors, Google hopes to expedite deployment and drive down overall costs. (Read Deeper)

Adobe Launches $100 Million Initiative To Bridge Digital Skills Gap

Adobe has launched a $100 million global initiative to address the digital skills gap, aiming to equip 30 million learners by 2030. The program, starting this month, offers affordable courses as low as $49, with certifications in areas like content creation, graphic design, and digital marketing. Adobe’s goal is to help young people thrive in the rapidly growing $250 billion creator economy, driven by platforms like TikTok and Instagram.

Why It Matters: Adobe will also offer $250,000 in scholarships for underprivileged communities. The program targets students of all ages, aiming to bridge the skills gap highlighted by reports from the World Economic Forum and the National Skills Coalition, which note a lack of digital literacy in education systems, particularly among minority groups. Adobe’s initiative will provide training on cutting-edge tools like generative AI, multimedia content development, and responsible AI usage. (Read Deeper)

AROUND DE WORLD & POLITICS

Israel Airstrike Kills 21 People In A Christian Town

Israel’s conflict with Hezbollah has escalated with a deadly airstrike in the Christian-majority town of Aitou, northern Lebanon, killing at least 21 people, including displaced families, according to health officials. Israel’s strikes have typically targeted southern Lebanon and Beirut. The strike represents a shift in Israel's military operations, which have previously concentrated on southern Lebanon, the Bekaa Valley, and Beirut's suburbs. Joseph Trad confirmed that the airstrike targeted a house rented by displaced families, turning the once-peaceful town into a scene of destruction.

Takeaway: Tensions between Israel and the UN peacekeeping force (UNIFIL) have risen, with Israel accused of damaging a UN base. Netanyahu rejected claims of deliberate harm to UN peacekeepers and urged them to evacuate combat zones. The Lebanese government reported that Israeli airstrikes have killed over 2,300 people in Lebanon in the past year, a toll that has increased since Israel expanded its operations in late September. As the conflict rages, the U.S. has deployed troops and advanced missile systems to support Israel, while the U.S. embassy in Lebanon has advised American citizens to evacuate. (Read Deeper)

South African Cities May Face Severe Water Crisis As Reservoir Levels Drop

South Africa’s Gauteng province, home to around 12 million people in cities like Johannesburg, Pretoria, and Ekurhuleni, is facing a potential water crisis as reservoir levels drop. Rand Water, the country’s largest bulk-water supplier, has warned that taps could soon run dry if urgent action isn’t taken to repair leaks and reduce water consumption. Municipalities in the region are exceeding their water allocations, exacerbating the problem during a heatwave with temperatures reaching 37°C. Johannesburg loses 44% of its water supply to leaks and theft, while Pretoria is considering strict usage restrictions.

Why It Matters: The crisis has been worsened by poor infrastructure maintenance, population growth, and delays in a key project to boost water supplies from Lesotho, now expected to be completed in 2029. The El Niño weather phenomenon has also contributed to the problem, causing droughts earlier this year. (Read Deeper)

ENTERTAINMENT & SPORTS

Sean 'Diddy' Combs Faces New Allegations of Sexual Assault in Multiple Lawsuits

Sean "Diddy" Combs is facing new allegations of sexual assault, rape, and abuse after multiple lawsuits were filed in New York federal court. The six lawsuits, filed by two women and four men, involve claims dating from 1995 to 2021, with some incidents allegedly occurring at Combs' celebrity-filled parties. One accuser, 16 at the time, claims Combs assaulted him at a party in 1998, while another accuses Combs of raping her in 2004 when she was 19. Combs has denied all allegations, and his lawyer has stated he "has never sexually assaulted anyone." Combs is also facing federal charges for racketeering and sex trafficking, with a trial set for May 2025. (Read Deeper)

Pep Guardiola Rejects England Manager Role, Set To Extend Stay At Manchester City

Pep Guardiola, the highly successful Manchester City manager, has declined an offer to become the next England national team manager following Gareth Southgate's departure after Euro 2024. The Football Association (FA) had hoped to recruit Guardiola for a long-term role, but the Spaniard is more focused on extending his contract with Manchester City, which expires at the end of the season. Guardiola is reportedly seeking a 12-month extension at City, though he has not ruled out future opportunities. The FA continues to pursue him, but Guardiola's commitment to City makes it unlikely he will manage England. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Deciding whether to pay off debt or keep the money invested depends on several factors, including the type of debt, interest rates, your investment returns, and your overall financial goals. (Listen)

EXTRA BREVITI

• Tesla’s Optimus Robots Controlled by Humans During ‘We, Robot’ Event, Sparking Doubts About Readiness. (Read More)

• The Sahara Desert has flooded for the first time in decades, creating breathtaking lakes amidst its iconic sand dunes. (Read More)

• North Korea has escalated tensions by blowing up sections of roads within its territory, which were part of the infrastructure once used to connect with South Korea.(Read More)