Morning Thrust | Weekly Highlights (98th Edition: 27.10.2024)

Welcome to the 98th edition of Morning Thrust,?your?weekly dose?of?highlights?in future tech,?space economy,?sustainability,?smart cities,?supply chain,?logistics and more! In this edition (27.10.2024), we bring you the?most exciting?developments shaping?our world.?Stay informed and?ahead of the curve?with our curated insights.?Let's dive in!

Elon Musk has reportedly maintained regular contact with Russian President Vladimir Putin since late 2022, raising national security concerns among U.S. intelligence officials. Conversations included a request from Putin for Musk to refrain from activating his STARLINK internet service in Taiwan, highlighting the overlapping interests of Musk and Russia. This situation complicates the U.S. government's reliance on Musk's technologies, especially as SpaceX plays a crucial role in launching national security satellites.

Elon Musk has announced he will give away $1 million daily to registered voters in swing states who sign a petition for his pro-Trump political action committee, America PAC, until Election Day. Speaking at an event in Pennsylvania, Musk called the initiative a "fun" way to encourage voter participation, but legal experts warn it may violate federal election laws. The deadline for signing the petition is Monday, coinciding with Pennsylvania's voter registration closure.

The recent Brics summit in Kazan highlighted internal rifts within the group, delaying further expansion and casting doubt on its future direction. While bilateral talks, particularly between India and China, signalled potential for a new global order, the summit's lack of consensus among members suggests that the West may have additional time to influence global dynamics amidst these divisions.

At the recent BRICS summit in Kazan, a symbolic banknote was unveiled to promote discussions on alternatives to the US dollar and enhance local currency trade among member nations. Leaders, including Russian President Vladimir Putin, emphasized the need for a more independent economic system, signalling a shift towards local currencies in cross-border transactions. The summit concluded with a commitment to strengthen financial integration and reduce reliance on Western financial structures.

Elon Musk's AI startup, xAI , has launched its API for the Grok generative AI model, initially offering a basic version called "grok-beta" at $5 per million input tokens. While the API includes support for function calling and hints at future vision models, users have reported payment issues. xAI aims to leverage X's data to compete with established players like OpenAI, although Musk's plans to incorporate data from his other ventures have faced pushback from Tesla shareholders.

OpenAI co-founder Sam Altman has launched the "World" initiative, which uses iris scans to create "World ID" profiles aimed at combating deepfakes. The system matches videos against eye scan recordings, enhancing online identity verification. Despite previous privacy concerns, the project plans to integrate with popular video platforms and expand scanning capabilities globally.

OpenAI has announced that it will not release its anticipated AI model, Orion, this year, despite earlier reports suggesting a December launch. A spokesperson confirmed plans for other technology releases instead, leaving uncertainty about the company’s next major model. The news follows conflicting information from sources, including The Verge, about the model's expected capabilities and rollout.

Former OpenAI CTO Mira Murati is reportedly seeking over $100 million in VC funding for a new AI startup focused on proprietary models. Announcing her departure from OpenAI, Murati expressed her desire to explore new ventures after leading significant advancements in AI systems. Her exit follows a wave of departures among OpenAI executives amidst the company’s record $6.6 billion funding round.

Asana has launched AI Studio, a no-code tool enabling teams to design and deploy AI agents for various workflows, enhancing productivity by automating tasks like drafting materials and tracking project efficiency. This innovation, unveiled at the Work Innovation Summit, aims to reduce busywork and is positioned as a collaborative assistant rather than a replacement for human roles. Early access is available for Enterprise customers, with broader tiers to follow.

Perplexity 's CEO, Aravind Srinivas, announced that the AI search engine is now handling 100 million queries per week, a significant increase from 250 million in July. The company is exploring ecommerce features for its Pro service and discussing a new advertising model with brands like Nike and Marriott, despite facing legal challenges from publishers over content replication. Additionally, Perplexity is reportedly in talks to raise $500 million at an $8 billion valuation.

Perplexity is reportedly in talks to raise approximately $500 million at an $8 billion valuation, more than double its previous valuation of $3 billion from ソフトバンク . Currently handling 15 million queries daily and generating about $50 million in annual revenue, Perplexity faces criticism from some publishers over web scraping, but its CEO expresses a desire to collaborate with them. This fundraising follows OpenAI's recent $6.6 billion round at a $157 billion valuation.

Investments in generative AI startups soared to $3.9 billion in Q3 2024, driven by 206 deals, with U.S.-based companies receiving $2.9 billion. Despite concerns about the technology's reliability and environmental impact, venture capitalists remain optimistic, betting on its potential in various industries. Major players like Microsoft and Amazon are investing in sustainable energy solutions to meet the increasing power demands of AI.

General Catalyst has raised $8 billion to expand its investments in early-stage startups globally, focusing on the U.S., Europe, and India. The funds will support various strategies, including $4.5 billion for core VC investments and $1.5 billion aimed at aiding repeat founders. The firm plans to leverage AI and foster resilience in key sectors such as healthcare and climate tech, while allocating 25% of the funds to Europe.

Finix has successfully raised $75 million to enhance its competition with Stripe in the payment processing arena, officially transitioning to a payment processor in 2023. CEO Richie Serna announced that the company has quadrupled its revenue over the past year and aims to grow its merchant base, currently at over 12,000. This funding will support team expansion and international growth as Finix develops tailored payment solutions for businesses lacking in-house technical resources.

Waymo has successfully closed a $5.6 billion Series C funding round led by Alphabet, with participation from prominent venture firms like a16z and Silver Lake. The autonomous vehicle company plans to use the investment to expand its robotaxi services into new cities and enhance its autonomous technology for business applications. Waymo now provides over 100,000 paid rides weekly across several markets, focusing on its ride-hailing service after stepping back from autonomous trucking initiatives.

The NAACP has launched NAACP Capital, a $200 million fund of funds aimed at supporting fund managers who focus on issues affecting people of colour. Developed in collaboration with Kapor Capital and other venture managers, the initiative addresses the alarming statistic that Black founders received less than 1% of venture capital last year. Fund of funds allow for broader investment across multiple venture funds, enhancing the impact of capital deployment.

Tesla 's Cybertruck has surged ahead of the Ford Mach-E to become the third best-selling electric vehicle in the US, selling over 16,000 units in Q3 2024. Despite its high price, it reflects the struggles of major automakers like Ford and GM in attracting EV customers. Tesla's recent financial results show $25.2 billion in sales and a profit of $2.2 billion, boosted by cost-cutting measures and new features for Cybertruck owners.

Zoom has announced a partnership with AI medical scribe provider Suki to enhance its telehealth platform, enabling doctors to automate note-taking during patient consultations. This move follows a surge in demand for AI assistants in healthcare, with significant investments flowing into the sector. Meanwhile, Amazon's One Medical is also integrating AI tools to streamline administrative tasks, highlighting the growing trend of AI adoption in the medical field.

DJI has filed a lawsuit against the U.S. Department of Defense, challenging its classification as a "Chinese military company" on a DoD list. The drone manufacturer claims this designation has caused significant financial and reputational damage, asserting it is not controlled by the military and produces consumer drones. DJI's legal action follows over sixteen months of attempts to engage with the DoD regarding the issue.

Nigeria is set to launch four new satellites, approved by President Bola Tinubu, to enhance its space technology capabilities, as announced by Dr. Matthew Adepoju at a recent event celebrating 21 years in space. Three satellites will feature optical payloads and one will be equipped with Synthetic Aperture Radar, aiming to boost Nigeria’s competitiveness in the global space economy. The initiative also seeks to involve the private sector more actively in the country's space ecosystem amidst ongoing challenges in satellite lifespan and funding.

Inflatable space habitats are gaining traction among private firms as a viable solution for off-Earth exploration, with potential applications on the Moon and Mars. This innovative approach builds on historical projects like NASA - National Aeronautics and Space Administration 's Echo balloon satellites and the Soviet Union's early inflatable airlock, highlighting significant advancements in space technology. As the demand for comfortable housing in space grows, these "softgoods" could play a crucial role in future missions.

Researchers at the University of Bristol have successfully tested a teleoperated system for lunar rovers, allowing human controllers on Earth to manipulate tools without camera delays. This innovation could enhance robotic dexterity in tasks like sampling and assembly on the moon, utilising haptic feedback to simulate tactile interactions with lunar regolith. Future missions may also benefit from satellite relays as part of the ESA's Moonlight project.

NASA - National Aeronautics and Space Administration 's Artemis Accords have successfully signed 12 new nations since January, expanding the coalition to 45 as part of a global effort for peaceful deep space exploration. The accords aim to foster international collaboration while promoting principles of safety and sustainability, despite notable absences from China and Russia. Experts emphasize the importance of inclusivity and diplomatic engagement to build a shared future in space exploration.

NASA - National Aeronautics and Space Administration is reviving nuclear thermal technology from the 1950s to expedite manned missions to Mars, collaborating with DARPA and Lockheed Martin. The agency aims to test a nuclear-powered rocket in space by 2027, which promises to halve travel time and double the efficiency of traditional chemical rockets.

A new report from NASA - National Aeronautics and Space Administration reveals that its activities, particularly the Moon to Mars exploration initiative, generated over ￡75.6 billion in economic output in fiscal year 2023, supporting nearly 305,000 jobs across the U.S. The report underscores the agency's role in driving innovation, job creation, and scientific progress while contributing significantly to state and federal tax revenues.

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