Weekly Market Report. January 26, 2024

Greetings, curious minds! Join us on a journey into the cutting-edge. This newsletter unveils the latest trends shaping our world.?

Let's explore together! ????

?? Top Reads

Tesla erases $80 bln in valuation after Musk's sales warning ??

Musk said on Wednesday that growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries.

OpenAI turns up the AI heat with smarter GPT-4 and cheaper GPT-3.5 Turbo ??

OpenAI has released new models, including an updated GPT-4 Turbo preview model, and it has dropped the price for GPT-3.5 Turbo application programming interface (API) access. The company has also introduced new ways for developers to manage API keys and understand API usage.

PayPal to launch AI-based products as new CEO aims to revive share prices ??

It is the first major announcement under Alex Chriss, who joined PayPal in September, and the new products are another example of how companies are trying to tap investor enthusiasm for AI, which helped drive U.S. stock markets to record highs this month.

?? Market Data

2024 Halving Date ETA: April 12, 2024

?? Important News This Week

AI

• Cerebras Systems Weighs IPO as Soon as 2024
• Apple Podcasts now offers auto-generated transcripts in iOS 17.4
• Ex-Salesforce Co-CEO to Win Funding for AI Startup at Near-$1 Billion Value, Sources Say

Tech

• Apple Confirms Next-Generation CarPlay Launching in 2024
• Microsoft lays off 1,900 Activision Blizzard and Xbox employees
• Intel stock sinks as early 2024 outlook comes up short

Business

• Mercedes -Branded $1 Billion Tower Is Dubai’s Latest Bet on the Super Rich
• Japan ’s Foreign Worker Tally Tops Two Million For First Time
• Visa Profit Climbs Amid Higher Payments Volume

Crypto

• Saudi Arabia, Qatar Rumored 1M BTC Buy Could Come Next Week
• XRP Army Banking On Mega Bull Run
• Celsius Moves $1B+ ETH to Exchanges, selling pressure looms

?? Notable Companies Secure Impressive Investments

• Paper Ventures has launched a $25M VC fund for blockchain startups
• Masa has raised $5.4M in a Seed funding round led by Anagram?
• Polymer Labs raised $23M in a Series A funding round?
• Bagel has raised $3.1M in a Pre-Seed funding round led by CoinFund
• PECland has secured $600k in an Alpha funding round
• Zorp has raised $5M in a Seed funding round led by Delphi Ventures?

?? Meme of the Week

?? Top Cryptocurrency Trends to Watch For in 2024

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Constantin Kogan

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