🤝OpenAI Tap Google Cloud

☀️Good morning. It's Thursday, Jul. 17, and we're covering, Nvidia CEO Jensen Huang Sells Another $37M In Stock As AI Boom Continues, OpenAI Taps Google Cloud To Power ChatGPT Amid Soaring Demand, Eight Babies Born Using DNA From Three People, Free Of Inherited Disease, 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 $3.8 Trillion, a 1.49% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $206.46B, which makes a 10.77% increase.

• The total volume in Defi is currently $45.99B, 22.28% of the total crypto market 24-hours.

• The volume of all stablecoins is now $197.91B, which is 95.86% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 61.83%, a decrease of 1.06% over the day.

Dogecoin Falls 7% As Bitcoin Pulls Back From $123K Record High

Dogecoin led the crypto sell-off on Tuesday, plunging 7% to $0.19 amid a broader market correction following Bitcoin’s retreat from a record $123,000. Bitcoin dropped 3.7% to $117,148, with over $460 million in leveraged positions liquidated. Analysts view the dip as a healthy pullback, not a sign of weakening momentum. Crypto markets are experiencing high volatility as Bitcoin sets new highs. Dogecoin’s sharp drop underscores the risk of meme coins during market corrections. (Read Deeper)

BUSINESS & FINANCE

Nvidia CEO Jensen Huang Sells Another $37M In Stock As AI Boom Continues

Nvidia CEO Jensen Huang just sold another 225,000 shares, worth $37 million, as part of a prearranged trading plan to offload up to 6 million shares. So far in 2025, Huang has sold 1.2 million shares for a total of $190 million, following over $700 million in stock sales last year. The sales come amid Nvidia’s meteoric rise — now the world’s most valuable company with a market cap over $4 trillion. The AI chip giant’s dominance has also vaulted Huang past Warren Buffett on Bloomberg’s Billionaire Index.

Why It Matters: Stock sales highlight Nvidia’s surge, Huang is capitalizing on historic highs. Board member Brooke Seawell also sold $16M in shares. Nvidia said this week that it’s set to resume sales of its H20 chips to China, after receiving assurances from the U.S. government that export licenses will be granted. (Read Deeper)

TSMC Profit Soars 61% As AI Chip Boom Continues

Taiwan Semiconductor Manufacturing Company (TSMC) crushed expectations in Q2, posting a 61% year-on-year surge in profit, driven by insatiable demand for AI chips. TSMC’s revenue jumped nearly 39% YoY, marking a new record as the world’s top chipmaker continues to benefit from producing advanced semiconductors for Nvidia, Apple, and other AI powerhouses. Revenue: NT$933.80B ($31.7B) vs. NT$931.24B expected. Net Income: NT$398.27B vs. NT$377.86B expected.

Why It Matters: TSMC remains at the heart of the global AI supply chain. U.S.-Taiwan trade tensions could disrupt chip flows. AI chip demand is rewriting the earnings playbook in semis. (Read Deeper)

TECHNOLOGY & SCIENCE

OpenAI Taps Google Cloud To Power ChatGPT Amid Soaring Demand

OpenAI is expanding its cloud infrastructure — and now Google Cloud is officially part of the mix. In a move to scale up computing power for ChatGPT and its API, OpenAI is diversifying beyond its original reliance on Microsoft Azure. The partnership gives Google a major win in the high-stakes AI infrastructure race, as its cloud division continues to compete with industry giants Microsoft and Amazon. Google also hosts workloads for Anthropic, another AI firm founded by former OpenAI executives.

Why It Matters: OpenAI now relies on Google, Microsoft, CoreWeave, and Oracle to support its models globally — with Google’s infrastructure running in the U.S., Japan, the Netherlands, Norway, and the U.K. The shift comes amid major capacity constraints. (Read Deeper)

Scale AI Cuts 14% of Workforce, Retreats From Core Data-Labeling Business

AI data-labeling firm Scale AI is laying off 200 employees (14% of staff) and dropping 500 global contractors, according to Bloomberg. The cuts come as Scale retreats from the data-labeling business that made it a key player in the AI ecosystem. In a memo, interim CEO Jason Droege said the company had over-expanded its labeling business and will now focus on enterprise and government sales. The downsizing follows a major shakeup: Meta hired Scale’s CEO Alexandr Wang in a $14.3B deal, and multiple clients have since walked away.

Takeaway: Even high-profile players like Scale AI are struggling to maintain momentum. Losing Wang may have cost Scale its biggest clients. The company is shifting focus to enterprise/government contracts, a big bet on stability. AI startups are consolidating or evolving fast as competition and costs grow. (Read Deeper)

AROUND DE WORLD & POLITICS

Eight Babies Born Using DNA From Three People, Free Of Inherited Disease

Eight babies have been born in the UK using DNA from three people — their mother, father, and a female donor — to prevent incurable mitochondrial diseases, which can cause severe disability or death in early childhood. The cutting-edge technique, pioneered at Newcastle University, replaces faulty mitochondria in a mother’s egg with healthy ones from a donor. This gives the child over 99.9% of their DNA from their parents and just 0.1% from the donor, ensuring they are genetically related to their mother and father but free from the defective mitochondrial DNA that would otherwise be passed on.

Takeaway: A real-world solution to a previously incurable, inherited disease. The altered mitochondrial DNA is passed down — offering hope to future generations. The UK uniquely combined research, regulation, and healthcare to make this happen. The genetic editing is highly targeted and therapeutic, not cosmetic. (Read Deeper)

Republican Senators Warn Trump: Firing Fed Chair Powell Would Shake Market Confidence

As President Trump signals he may attempt to fire Federal Reserve Chair Jerome Powell, Republican senators are urging caution, warning that such a move could severely damage the Fed’s independence and rattle global markets. While some GOP lawmakers back Powell’s removal, others stress that firing the central bank chief could erode economic stability and invite legal battles.

Why It Matters: The Federal Reserve’s independence from political pressure is a cornerstone of U.S. economic credibility. Trump's threats to oust Powell over interest rate policies—and now a Fed building renovation—risk triggering market turmoil and a constitutional showdown. (Read Deeper)

ENTERTAINMENT & SPORTS

DOJ Fires Prosecutor Behind Diddy And Epstein Cases Amid Political Backlash

Maurene Comey, a veteran federal prosecutor involved in major cases against Jeffrey Epstein, Ghislaine Maxwell, and Sean "Diddy" Combs, has been dismissed by the U.S. Department of Justice without explanation. Her firing comes amid a broader purge of officials tied to politically sensitive investigations, including probes into Donald Trump. Comey's dismissal adds fuel to concerns about political interference in the U.S. justice system under Trump’s current administration. (Read Deeper)

Norwegian Olympian Audun Groenvold Dies At 49 After Lightning Strike

Audun Groenvold, a Norwegian Olympic bronze medalist and former national ski cross coach, has died at 49 after being struck by lightning during a trip to his family's cabin. Groenvold, who medaled in ski cross at the 2010 Vancouver Olympics, was remembered as a towering figure in both alpine and freestyle skiing. Groenvold was not just a decorated athlete, but a beloved coach, sports ambassador, and commentator who helped shape Norwegian skiing. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Improving an investing operating system with Vitaliy Katsenelson, a well-known investor and author, would likely involve incorporating his insights and methodologies into various aspects of investment analysis and decision-making. ( Listen )

EXTRA BREVITI

• Peter Thiel Bets Big on Ether — Shares of Bitmine Surge. (Read More)

• AliExpress, TikTok, WeChat Face EU Privacy Complaints Over Data Access. (Read More)

• Samsung Chairman Jay Y. Lee Cleared of Merger Fraud by South Korea’s Top Court. (Read More)

• Trump-Linked Crypto Token $WLFI Approved for Trading, Sparking Ethics Concerns. (Read More)