• GRIT
  • Posts
  • The AI Arms Race

The AI Arms Race

Google, Pinterest, SEC

Good Morning! 👋

Happy Friday! We hope everyone has a great Superbowl weekend!

👉 Google rebrands Bard

👉 Pinterest earnings are in

👉 Hedge Funds have new rules

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.

Source: Medium

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.

🎯 GRIT TAKE: Well folks, it is officially time to get your ...upgrade to VIP to read the full GRIT Take. 

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.

Source: TechCrunch

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.

Source: Yahoo

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.

Source: Pinterest

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

Source: Statista

GRIT Meme of the Day 😂

Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇

Source: @unstructuredcapital

Don’t follow us on social yet? Follow us on Instagram, TikTok, and Twitter.

Do you have feedback to share? Click HERE.

Interested in being featured in our GRIT Newsletters? Click below!

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.

Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.

Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.

By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

If you have any questions please contact us at help@gritcap.io

Reply

or to participate.