OpenAI Announces SearchGPT 🔍️

Good morning. It's Friday, Jul. 26, and we're covering, Airtel Africa Reports $31 Million Profit For Q1 2024, OpenAI Announces SearchGPT, US Authorities Arrest Mexican Drug Lord 'El Mayo' And El Chapo's Son In Texas, 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 $2.39 Trillion, a 3.59% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $82.09B, which makes a 0.28% decrease.

• The total volume in Defi is currently $4.75B, 5.78% of the total crypto market 24-hours.

• The volume of all stablecoins is now $74.82B, which is 91.14% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 55.22%, an increase of 0.42% over the day.

RFK Jr. Proposes U.S. Bitcoin Holdings To Match Gold Reserves

Presidential candidate Robert F. Kennedy Jr. has unveiled a bold plan to align the U.S. Bitcoin holdings with the value of the nation’s gold reserves, estimated at $615 billion. Kennedy outlined a strategy to acquire approximately 9.4 million BTC nearly 45% of the total Bitcoin supply at current prices to match the value of the U.S. gold reserves. ( Read Deeper )

BUSINESS & FINANCE

Airtel Africa Reports $31 Million Profit For Q1 2024

Airtel Africa has rebounded from a challenging 2023 with a $31 million profit for the first quarter of 2024, marking a significant turnaround from a $151 million loss in the same period last year. For the quarter ending June 30, 2024, Airtel Africa's revenue declined by 16.1% to $1.15 billion. This drop was attributed to currency devaluation and rising fuel costs in Nigeria. To address these challenges, the telecom firm is focusing on cost reduction and energy-saving measures aimed at lowering network expenses.

Why It Matters: Customer growth was a strong suit for Airtel Africa. The number of mobile money users rose by 14.9% to 39.5 million, while data customers grew by 13.4% to 64.4 million. The company’s overall customer base expanded to 155.4 million, supported by investments in infrastructure, including the laying of over 5,600 km of fiber cables. (Read Deeper)

Applied Intuition Closes $300M Secondary Sale Amid Booming AI Investment

Applied Intuition, an autonomous vehicle software startup, has completed a $300 million secondary sale, just four months after securing $250 million in a Series E funding round. This move underscores the intense investment interest in artificial intelligence and autonomous vehicle technologies. The secondary sale, which facilitates the sale of shares by existing and former employees as well as early investors, saw participation from notable new investor Fidelity Management & Research Company, alongside existing backers such as Lux Capital’s Bilal Zuberi, Elad Gil, Andreessen Horowitz, and Mary Meeker’s Bond.

Takeaway: Founded in 2017, Applied Intuition specializes in providing advanced software for the development and testing of autonomous vehicle technologies. Their platform offers simulations that help automotive companies and other vehicle manufacturers evaluate their perception and behavior systems. The company also provides tools to manage and analyze large datasets related to autonomous driving. (Read Deeper)

TECHNOLOGY & SCIENCE

OpenAI Announces SearchGPT

OpenAI unveiled a prototype of its new search engine, SearchGPT, aimed at providing users with "fast and timely answers with clear and relevant sources." The prototype is currently being tested with a small group of users and is planned to be integrated into OpenAI's ChatGPT chatbot. The announcement has implications for Google, whose parent company Alphabet saw its shares dip over 3% following the news.

Takeaway: The announcement of SearchGPT follows the recent launch of OpenAI's new AI model, "GPT-4o mini," an offshoot of its fastest and most powerful model, GPT-4o. The company is focused on "multimodality," offering a wide range of AI-generated media within one tool, enhancing the overall search experience. Since the launch of ChatGPT in 2022, there have been concerns that OpenAI could challenge Google’s dominance in the search market. (Read Deeper)

SpaceX Identifies Cause Of Falcon 9 Failure, Plans Quick Return To Flight

The failure, which occurred during a launch on July 11, involved the rocket’s upper stage experiencing a liquid oxygen leak. This prevented the upper stage from performing a crucial orbit-raising burn, resulting in the premature reentry and destruction of 20 Starlink satellites. This incident was SpaceX’s first in-flight failure since June 2015. A separate preflight explosion occurred in September 2016. The investigation, overseen by the U.S. Federal Aviation Administration (FAA), has led to proactive measures ensuring safety and reliability in future launches.

Why It Matters: SpaceX has removed the failed sense line and sensor from the second-stage engine for upcoming launches. Alternate sensors will cover its functions. The company has tested the design change, conducted enhanced qualification analysis, and replaced sense lines and clamps as needed. SpaceX is ready to return to flight as soon as July 27. The company has submitted a mishap report to the FAA and received approval for the upcoming launch. (Read Deeper)

AROUND DE WORLD & POLITICS

US Authorities Arrest Mexican Drug Lord 'El Mayo' And El Chapo's Son In Texas

U.S. authorities arrested Ismael "El Mayo" Zambada, co-founder of the Sinaloa Cartel, and Joaquin Guzman Lopez, son of Joaquin "El Chapo" Guzman, in El Paso, Texas. Both men face charges related to drug trafficking, including fentanyl. The arrests are very important, given Zambada's long-standing influence and Guzman Lopez's role in his father's operations. The Sinaloa Cartel, accused of being a major fentanyl supplier to the U.S., is now facing potential instability. This joint FBI and HSI operation highlights ongoing efforts to combat drug trafficking and the opioid crisis. Attorney General Merrick Garland stated the Justice Department's commitment to holding cartel leaders accountable.

Why It Matters: The Sinaloa Cartel, which operates in over 50 countries, is one of the two most powerful organized crime groups in Mexico. Zambada and El Chapo's sons represent different generations and styles within the cartel, with Zambada known for his discreet, "old-school" methods, while El Chapo's sons are more flashy and attention-seeking. (Read Deeper)

Harris Urges Netanyahu To End Gaza War And Secure Hostage Release

Vice President Kamala Harris urged Israeli Prime Minister Benjamin Netanyahu to reach a cease-fire with Hamas to secure the return of hostages held in Gaza. Harris emphasized the urgent need for a deal, echoing President Joe Biden’s call for an end to the conflict, which has resulted in over 39,000 Palestinian deaths. In a meeting with Netanyahu, Biden also discussed improving aid flow to Gaza and addressing threats from Iranian-backed groups. The U.S.-backed proposal aims to release hostages in three phases, with Biden and Netanyahu committing to this plan. Netanyahu's visit to the White House sparked protests in Washington, with some demonstrators condemning his actions and others supporting Israel.

Takeaway: President Joe Biden met with Netanyahu to discuss closing the remaining gaps in the proposed U.S.-backed, three-phase deal aimed at bringing home the remaining hostages and establishing an extended cease-fire. Thousands of protesters gathered in Washington to oppose Netanyahu's visit, with some displaying effigies and slogans condemning his actions in Gaza. (Read Deeper)

ENTERTAINMENT & SPORTS

Top 10 Signings Of The 2024 Summer Transfer Window

The 2024 summer transfer window has been brimming with excitement, highlighted by some noteworthy moves that have reshaped the football landscape. From blockbuster deals to strategic acquisitions. The standout move of the window, Mbappe, considered the best player in the world, joined Real Madrid on a free transfer. (Read Deeper)

Elon Musk’s Daughter Vivian Responds To His Comments On Transgender Issues

Vivian Jenna Wilson, Elon Musk’s 20-year-old daughter, has publicly addressed her father’s recent comments regarding her transgender identity. Musk had claimed that Wilson was negatively influenced by the "woke mind virus" and accused her of being "tricked" into seeking gender-affirming care. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Oleg Golynker, a prominent figure in technology and innovation, discusses his strategies for staying ahead of market trends and driving innovation. ( Listen )

EXTRA BREVITI

• Intron Health Secures $1.6M in Pre-Seed Funding to Advance AI Technology. (Read More)

• Satellite Images and Doctor Testimony Reveal Severe Hunger Crisis in Tigray. ( Read More )

• The Moral Bankruptcy of Marc Andreessen and Ben Horowitz (Read More)