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NVIDIA Becomes the Largest Public Company in the World 🌎

VOLUME 44

Happy Friday, everyone!

As you may or may not have noticed, these reports typically come out on Thursdays, but today’s is out on Friday (obviously).

I just got back from speaking at Collision in Toronto, hence the delay. And I needed a day to recover.

But I’m back, and better than ever! I haven’t missed a week since I launched this newsletter, and that’s not gonna happen anytime soon 😉 

So as always, thanks for your patience and support!

Anyway, without further ado. This week’s biggest stories in tech and culture below. Stay tuned!

Jacob Pace

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NVIDIA Becomes the Largest Public Company in the World

Well, it looks like AI chip manufacturer NVIDIA has been on yet another tear. Just this past Tuesday, the tech behemoth jumped pass Apple and Microsoft in market cap, becoming the world’s most valuable company.

Earlier this week NVIDIA’s share price hit an all-time high, closing at nearly $136, creating a total of $3.335 trillion in market cap.

What’s causing this growth you may ask? NVIDIA’s role in the production of computer chips essential for artificial intelligence (AI) software has significantly grown the company’s sales in the past couple years. The high demand for AI has led to company’s rapid growth, with the company’s stock price nearly doubling since the start of this year.

What’s the market saying? Despite all the growth and enthusiasm, there are voices of caution. Many analysts question the sustainability of NVIDIA’s high valuation amid increasing competition and potential challenges in monetizing AI software. For instance, Barclays credit analyst Sandeep Gupta has raised concerns about NVIDIA’s ability to maintain its large market share, due to AI chips becoming cheaper to produce over time.

But if history can tell us anything, I wouldn’t bet against NVIDIA CEO Jensen Huang and his team. They’ve proven to be right so far. Plus, the guy has some great wisdom.

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UK Parliament Launches First AI Candidate

What sounds like something out of a sci-fi movie, I’d like to introduce you AI Steve, the first AI candidate running for a seat in the UK Parliament. In a first-of-its-kind move, AI Steve is set to appear on the ballot for the United Kingdom’s general election next month.

AI Steve is represented by Sussex businessman Steve Endacott, who will appear on the ballot alongside traditional candidates in the Brighton Pavilion area. Endacott, the chairman of AI technology company Neural Voice, describes AI Steve as an AI co-pilot, helping him connect with voters and understand their needs in real-time.

How does it work? So here’s the gist. Voters can engage with AI Steve through a dedicated website, asking policy questions or sharing their concerns. The AI, powered by a large language model, provides responses based on a database of information about Endacott's party policies. If the AI doesn’t have an immediate answer, it conducts internet research and encourages voters to suggest new policies.

If successful, AI Steve would be the first AI legislator in public office, setting a precedent for future political campaigns. Endacott’s candidacy has already sparked considerable interest, with around 1,000 calls to AI Steve in one night following its announcement. The top issues raised by voters include concerns about Palestinian safety, local infrastructure, and immigration.

Endacott has clarified before that his venture is not a marketing ploy, but a genuine effort to bring more human interaction into politics through AI.

So, what are your thoughts? Would you vote for an AI candidate?

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Jake Paul Partners with Walmart on Launch of Men’s Grooming Line 'W'

Jake Paul AKA The Problem Child is expanding his career portfolio yet again, this time with the launch of a men’s personal care line appropriately called W.

According to Paul, after a trip to CVS, he was frustrated by the lack of innovative options on the shelve, which inspired the creation of his line. He feels he’s seen a lack of innovation specifically in that department at most stores, especially with many recent change in consumer behaviors to favor more natural products.

Partnering with entrepreneurs Geoffrey Woo, Woodie Hillyard, and strategic advisor Nakisa Bidarian, the new line includes body wash, body spray, and deodorant, and will be sold exclusively at Walmart for the time being. Paul has also recently roped in MMA champion Suga Sean as a partner in the brand as well as social media influencer Rubi Rose.

Beyond the current products, Paul envisions W expanding to include a variety of bathroom essentials and even streetwear.

While I think it’s great to see more creator-led products, I think the space is getting a bit saturated, and I’m yet to see anything that really impresses me. But, I wish Paul and his team the best!

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OpenAI Co-Founder Ilya Sutskever Launches New AI Company

Ilya Sutskever, one of OpenAI’s co-founders and former chief scientist, has launched a new company called Safe Superintelligence Inc. (SSI), just one month after dramatically leaving OpenAI. This new venture, founded with former Y Combinator partner Daniel Gross and ex-OpenAI engineer Daniel Levy, aims to tackle the challenges of AI safety and the development of ‘superintelligent AI systems’.

In case you don’t remember or never read about it, Sutskever’s departure from OpenAI came after a disagreement with the leadership over AI safety approaches. He has long been a vocal advocate for addressing the risks associated with superintelligent AI, predicting that AI with intelligence superior to humans could emerge within the decade and that it may not be pretty.

SSI is focused on creating safe superintelligence, with its entire business model, team, and investors aligned towards this mission. Unlike OpenAI, which started as a non-profit before restructuring, SSI is designed from the ground up as a for-profit entity, aiming to insulate its progress from short-term commercial pressures.

SSI is currently recruiting technical talent through its simple, but effective website to join its mission.

Given Ilya’s previous role as chief scientist at OpenAI, I’m excited to see what SSI brings to the table. I’m also just personally excited for the AI revolution in general - what a time!