Wealt Roundup #60

Good morning ??

Welcome to the new edition of Wealt Weekly Roundup.

This week's highlights include Wealt opening a high-demand investment opportunity for Groq, an AI hardware innovator. SpaceX advances Starlink launches, Anthropic refines AI tools, Meta faces a €798M fine, Google expands AI offerings, Tesla issues recalls, and Klarna confidentially files for a U.S. IPO. Unlock insights into the future of private investments in Wealt's latest blog—your gateway to smarter financial opportunities.

Stay informed with Roundup – your guide to finance and tech trends!

Highlights from Wealt

High demand sparks the second investment round in Groq! ??

We are excited to announce that we are opening another round to invest in Groq Series D, one of the most advanced AI hardware startups and cloud solution providers. The first round ended in August and was 120% over-subscribed as investors seized opportunities in Groq’s unique technology and high growth profile.

Groq simplifies computing to accelerate workloads in artificial intelligence, machine learning, and high-performance computing. It develops advanced AI hardware and software solutions. Groq aims to provide fast AI inference in the cloud and on-prem AI computing centres.

Why Groq?

• ?? Groq specializes in high-performance AI inference chips, driving industry-leading speeds and efficiency for generative AI applications with their cutting-edge AI technology.
• ?? Groq made strategic partnerships with major players like Meta and global tech firms to validate Groq’s position in the AI chip market and open-source ecosystem.
• ?? Groq's diversified solutions include groundbreaking products like Whisper Large v3 Turbo, optimized for speech recognition, and the GroqCloud, providing developers with fast, efficient, and reliable AI tools.
• ?? Groq is poised to challenge Nvidia's dominance with its innovative, cost-effective AI chips, positioning the company to capture significant market share.
• ?? With AI's increasing adoption across industries, Groq meets the demand for faster, scalable, and cost-effective hardware solutions.

Check out our specialised fact sheet for more detailed information about the AI hardware market and Groq investment information.

How to register interest?

Register your interest via the Wealt App or Web Form.

Portfolio news

SpaceX launched 24 more Starlink satellites into orbit on Thursday morning from Cape Canaveral Space Force Station in Florida. This was the 18th flight for the first-stage booster supporting this mission. The launch was part of a double launch, with another SpaceX rocket lifting 20 Starlink satellites into space from the Vandenberg Space Force Center in California five hours earlier. The next SpaceX launch is set for Monday in Boca Chica, Texas, where the sixth Starship flight test will take place.

Read more.

Anthropic has introduced new features in the Anthropic Console to help developers improve prompt quality and manage examples. The prompt improver allows users to leverage advanced prompt engineering techniques to refine existing prompts, while the example management tool makes adding, editing, and evaluating examples easier. These features aim to increase the accuracy, consistency, and performance of AI applications built with Claude.

Read more.

Groq announced a 6x speed boost for its Llama 3.1 70B language model by implementing speculative decoding. It uses a smaller and faster 'draft model' to generate tokens verified on the primary model. This new version, called llama-3.1-70b-specdec, is now available on GroqCloud with competitive on-demand pricing and is expected to enable faster and more efficient language processing for various applications.

Read more.

Market updates

• ?? AMD has announced layoffs of 4% of its workforce, aiming to reduce costs and adapt to the challenging semiconductor market.
• ?? OpenAI hints at a January release for its new AI agents, promising tools seamlessly integrating with its existing AI ecosystem.
• ?? Meta has been fined €798M in Europe, marking its largest penalty for violating strict data privacy regulations.
• ?? Google introduces its Gemini AI app on iOS globally, offering enhanced conversational capabilities through advanced AI technology.
• ??? ChatGPT expands functionality by integrating with macOS desktop apps, allowing users to access AI features directly within their system.
• ?? The UK’s recent pension reforms are expected to drive billions into corporate investments, boosting confidence in the domestic market.
• ?? Google's experiment to exclude news articles from EU search results is already drawing heavy criticism and resistance.
• ?? SEC Chairman Gary Gensler faces a lawsuit over his aggressive cryptocurrency regulations, which have sparked controversy in the industry.
• ?? Amazon confirms that a MOVEit breach led to the theft of sensitive employee data, raising concerns about its cybersecurity measures.
• ??? Elon Musk and Vivek Ramaswamy propose creating a "Department of Government Efficiency" as part of a potential Trump administration.
• ?? Swedish fintech giant Klarna has confidentially filed for a U.S. IPO, signalling its ambitions to expand its presence in the competitive payments industry.
• ?? Tesla issued a recall for cybertrucks to replace faulty inverters, emphasizing its commitment to ensuring safety and reliability.
• ?? OpenAI, Google, and Anthropic face hurdles in creating robust AI systems, with alignment and scalability challenges slowing progress.
• ?? Apple's $1 billion investment into generative AI highlights its ambition to rival competitors like OpenAI and Google in the transformative AI space.
• ?? CoreWeave secures $650M in a secondary sale, showcasing investors' strong interest in AI infrastructure startups.

Wealt blog spotlight

This week’s selected blog is Mastering the Market with Private Investments.

Private investments have outperformed public markets, with factors like value creation, market inefficiencies, long-term focus, and diversification benefits. Accessing them typically requires connections or being an accredited investor. Key future trends include democratization, lower entry barriers, lower interest rates, and emphasis on sustainability.

Read more.

Stay ahead of the curve…

We will continue to be here every week. Stay tuned for more in your inbox or on LinkedIn. To learn more about wealth management and Wealt, join our community and drop us a ??.

With warm regards and enthusiastic spirits,

Wealt Team ???