đ Novo Nordisk eclipses Tesla
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Hereâs what you need to know
Novo Nordiskâs market cap eclipsed Teslaâs. The Ozempic and Wegovy maker has a new weight loss trick up its sleeve: Amycretin, and itâs a pill. As for Tesla, the EV-maker might actually lose money this year⌠likely about $1 billion alone at its factory in Germany, but thatâs related to arson.
Google and Meta are making billions on Temuâs U.S. push. Executives at the tech giants were taken aback by how much the Chinese e-retailer has spent advertising with them.
Meanwhile, Nvidia insiders are making millions off of the companyâs stock rally. One director sold off 200,000 shares for a crisp $170 million this week.
Google is stepping up its cyberdefense efforts. The tech giant just opened its first Asia-Pacific cyberdefense hub as China steps up cyberattacks.
Rivian surprised with not one but two new EVs
In addition to the anticipated R2 SUV ($45,000 starting price) being revealed yesterday, electric car marker Rivian told unsuspecting investors that itâs also going to make R3 and R3X crossover SUVs (both models are currently unpriced, though Rivian said R3 will be even cheaper than R2).
Itâs part of Rivianâs bet that cheap(er) new electric SUVs will save its business, and the way the stock market reacted to that strategy could be a sign of smoother roads ahead.
What is going on with New York Community Bank?
And more importantly, should you care if youâre not in a New York Communityâ˘?
Yes and no, explains Quartzâs Melvin Backman. The current troubles of the 28th biggest bank in the U.S. arenât nothing, but they arenât at the level of, say, Silicon Valley Bankâs famous failure last year.
That said, Federal Reserve chair Jay Powell did a lot of reassuring the public after that collapse and the collapse of Signature Bank, so another public bank failure wouldnât be good for consumer confidence. Hereâs what to know.
Metaâs video ecosystem is going all in on AI
The algorithms, theyâre about to get LLM-ified! Facebook and Instagram owner Meta said itâs turning to large language models and generative AI to run its whole video ecosystem.
The price tag for buying all the chips that will make this possible is costing the social media company billions of dollars. But Meta thinks itâs worth the investment.
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Surprising discoveries
Adam Sandler was Hollywoodâs highest-paid actor last year. His Netflix movies are fan favorites.
Reminder: Smuggling greenhouse gasses into the U.S. is illegal. Plus, there are enough in the air.
Anthropicâs chatbot Claude 3 seemed to know when it was being tested. If you put a random question about pizza amid a lot of other text, Claude might take offense.
Scientists think they found the worldâs earliest fossilized forest. The trees that once stood in what is present day Southwest England resembled palms.
Caecilians feed their young milk. The worm-like amphibians also lay eggs.
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Our best wishes for a productive day. Send any news, comments, pizza tests, and British palms to [email protected]. Todayâs Daily Brief was brought to you by Morgan Haefner and Susan Howson.