The AI Arms Race

Google: Rebrands Bard

Google has discontinued Bard and rebranded it as Gemini, introducing its most sophisticated language model yet, Gemini Ultra, as part of a premium offering. This service, available at $20 monthly through a new Google One tier, includes 2TB of storage, access to Google One features, and integration with Google Workspace apps. The Duet AI brand will also be merged into Gemini.

With its $20 monthly fee, Google's premium AI service is priced similarly to competitors like ChatGPT but offers additional features, leveraging Google's existing profitable Google One plans. Google's highlights its dedication to advancing and significantly funding AI, which they refer to as assistants or agents. These terms encompass a variety of tools, from chatbots to coding aides and various productivity enhancers.

In the future, these AI agents might be capable of organizing group gatherings by checking calendars for scheduling conflicts, arranging travel and activities, purchasing gifts for family and friends, or even carrying out specific job roles like conducting outbound sales. However, as of now, the capabilities of these tools, including Gemini, are mainly confined to summarizing information, creating task lists, or assisting in coding.

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PINTEREST: Earnings Are In

Pinterest's stock value fell in after-hours trading due to a disappointing forecast and revenue report, but losses were mitigated following the announcement of a new partnership with Google. Revenue increased by 12% year-over-year to $877.2 million, with net income jumping to $201 million from $17.49 million.

Monthly active users rose to 498 million, exceeding expectations. However, the global average revenue per user was $2, slightly below the forecasted $2.05. Pinterest expects first-quarter revenue to grow by 15% to 17%, aiming for $690 million to $705 million, slightly below the analyst expectation of $703 million. The report comes as the digital ad market shows signs of recovery, with major players like Meta, Alphabet, and Amazon reporting growth.

SEC: New Rules On Funds

US regulators are introducing stricter requirements for hedge funds, compelling them to report detailed investment activities confidentially. These new rules, set by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), aim to enhance oversight and risk monitoring within the financial system.

These new rules focus on larger hedge funds, specifically ones with over $500 million in assets. This move will aid in regulatory enforcement and assessing market risks. Hedge funds are very upset with these new rules and have been very outspoken against them.

Headlines You Need To Know: 🎙

• Pepsi earnings top estimates

• Bitcoin breaks over $47,000

• China’s property crisis is starting to ripple across the world

• US CPI revisions offer relief

• Sam Altman seeks trillions of dollars

• Cloudflare stock jumps 21% on earnings

The History of Vegas

In the heart of the Mojave Desert, Las Vegas was not always the glittering oasis of neon lights and high stakes it is today. Its story began in 1905, not with casinos and luxury hotels, but as a humble railroad town. The city's founding is a tale of visionary ambition during the Western expansion. With the auction of 110 acres of railroad land, the nascent city emerged as a crucial stopover for trains traveling between Los Angeles and Salt Lake City.

Vegas' fate took a dramatic turn with the legalization of gambling in 1931. It wasn't long before the city's glittering potential caught the eye of notorious mob figures in the 1940s and 1950s. Visionaries like Bugsy Siegel, who saw beyond the desert's barrenness, were pivotal in transforming Las Vegas into a gambling and entertainment mecca. Siegel's Flamingo Hotel, despite its initial rocky start, became the blueprint for the future of Las Vegas, blending luxury, entertainment, and, of course, high-stakes gambling.

Chart of the Day

📊 Taylor Swift vs. Super Bowl

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