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Techmeme
August 5, 2024, 10:30 AM
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Top News

Tanaya Macheel / CNBC:
Bitcoin drops below ~$50,000, its lowest level since February 2024 and down nearly 16% since August 3, and ether drops 15% to ~$2,300, as global markets plummet  —  Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears.  —  The price of bitcoin sank more than 14% …
Financial Times:
Investor letter: Elliott Management says megacap tech stocks, particularly Nvidia, were in “bubble land”, and AI is “overhyped” and “not ready for prime time”  —  Hedge fund tells clients many supposed applications of the technology are ‘never going to actually work’
Aditya Soni / Reuters:
Apple, Nvidia, Alphabet, Amazon, Meta, and Microsoft stocks led a tech stock sell-off amid US recession fears; AAPL drops 5%, NVDA drops 7%+, and MSFT drops ~4%
Bloomberg:
CrowdStrike says Delta CEO Ed Bastian failed to respond to an assistance offer from CEO George Kurtz; CrowdStrike hopes Delta will “agree to work cooperatively”  —  The allegation, in a letter Sunday from attorneys for the technology firm, builds upon CrowdStrike's claim last week …
Evan Gorelick / Bloomberg:
Analysis: the vast majority of damages from July's CrowdStrike global IT outage will go uninsured; CrowdStrike reported nearly 24K enterprise customers in Q1  —  - Insured losses estimated between $300 million and $1.5 billion  — The days-long outage took a $5.4 billion toll on Fortune 500
Anne VanderMey / Bloomberg:
AI chip startup Groq raised a $640M Series D led by BlackRock at a $2.8B valuation, up from $1B after raising $300M in 2021, and adds an Intel executive as COO  —  Cisco and Samsung invested in the $640 million deal  —  Artificial intelligence startup Groq Inc. has raised $640 million in new funding …
Rachael Levy / Reuters:
Elon Musk says Neuralink has implanted its device in a second trial patient, who had a spinal cord injury, and 400 of the implant's 1,024 electrodes are working  —  Neuralink has successfully implanted in a second patient its device designed to give paralyzed patients the ability …
Wall Street Journal:
Sources: OpenAI developed a watermarking method for detecting text written by ChatGPT with 99.9% reliability, but its launch has been mired in internal debates  —  Technology that can detect text written by artificial intelligence with 99.9% certainty has been debated internally for two years
Alex Wickham / Bloomberg:
The UK says “there's no justification” for Elon Musk saying that “civil war is inevitable”, and calls on social media companies to moderate more misinformation  —  UK Prime Minister Keir Starmer's administration hit out at the suggestion by the billionaire Elon Musk …
Cade Metz / New York Times:
Elon Musk revives his OpenAI lawsuit, filing a complaint in California to allege that OpenAI, Sam Altman, and Greg Brockman breached OpenAI's founding contract  —  The Tesla chief executive has renewed claims that the A.I. start-up put profits and commercial interests ahead of the public good.
Bloomberg:
An interview with Mark Zuckerberg on laughing at the memes about him, rebranding Facebook as Meta, learning from the mobile era, Llama, his hobbies, and more  —  Now in his 40s, Meta's CEO says he's more comfortable in the spotlight but just as focused on breaking his company's reliance on Apple.
More: KnowTechie
Bart Meijer / Reuters:
The EU Commission says TikTok agreed to permanently withdraw TikTok Lite's “Reward programme” in the EU to comply with the DSA and not launch a similar program  —  ByteDance's TikTok has agreed to permanently withdraw its TikTok Lite rewards programme from the EU to comply …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 10:30 AM ET, August 5, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Nilay Patel / The Verge:
Q&A with LightShed Partners' Rich Greenfield on Paramount's WBD deal, the need to ramp up content production, media as a trophy asset, streaming tech, and more

David Shepardson / Reuters:
Eight US states, including CA, CO, and NY, sue to block Nexstar's proposed $3.54B merger with Tegna on antitrust grounds; DirecTV files a separate suit

Charlie Warzel / The Atlantic:
Q&A with Emanuel Fabian, who says he faced death threats from Polymarket bettors over his reporting on a missile strike in Israel, making him doubt what he saw

More News

Earlier Picks

Zach Dorfman / Politico:
A look at Operation Intering, an FBI-led sabotage campaign in the 1980s to secretly ship millions worth of faulty chips to the Soviet Bloc
David Shepardson / Reuters:
Sources: US Commerce Department plans to propose barring Chinese software in autonomous vehicles and some Chinese wireless communications hardware in US cars
Nicholas Carlini:
A Google DeepMind research scientist details some LLM use cases and argues LLMs are not overhyped and should be judged on what they can do, not what they can't
New York Times:
An investigation finds an active trade in Nvidia chips in China despite US restrictions; some military-tied Chinese organizations have bought restricted chips
Mark Gurman / Bloomberg:
Thoughts on new Apple Intelligence features, which do not yet live up to the excitement, Apple's design team leadership reshuffle, and Apple's Q3 earnings
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