Dow Soaring to New Heights and GPT-4o Launch

Author

Adam Valenta
May 17, 2024

Happy Friday! OpenAI releases GPT-4o, a faster model that's free for all ChatGPT users, while Perplexity CEO Aravind Srinivas takes shots at Google. Anduril moves ahead in Pentagon program to develop unmanned fighter jets. The Dow crosses 40k for the first time ever.

TL;DR

  • OpenAI releases GPT-4o, a faster model, free for all ChatGPT users.

  • Perplexity CEO Aravind Srinivas criticizes Google.

  • Anduril advances in Pentagon program for unmanned fighter jets.

  • The Dow crosses 40k for the first time ever.

OpenAI’s new GPT-4o is faster and free for everyone. Does the “o” stand for Omnipresence?

OpenAI launches GPT-4o, a faster iteration of GPT-4, enhancing text, vision, and audio capabilities. It’s free for all users, with paid users getting higher capacity. The model is multimodal, supporting voice, text, and images. New features include an advanced voice assistant mode. The API is cheaper and faster than GPT-4 Turbo.

Perplexity CEO takes shots at Google

Perplexity AI CEO Aravind Srinivas remains unfazed by Google's AI-summarized search results, noting his startup has provided similar tools for nearly two years. He criticizes Google's shifting marketing and business model, highlighting a conflict between user service and ad revenue. Perplexity has raised $62.7 million, valuing it at over $1 billion.

Anduril progresses in unmanned fighter jet initiative

Anduril Industries has been chosen to develop and test small unmanned fighter jet prototypes, beating major defense companies like Boeing, Lockheed Martin, and Northrop Grumman under the Air Force’s Collaborative Combat Aircraft (CCA) program. Along with General Atomics, Anduril will design, manufacture, and test prototypes. The program aims to produce at least 1,000 combat aircraft, which will operate alongside manned platforms. The deal centers around Anduril’s autonomous air vehicle, Fury. The seven-year-old company, valued at $8.5 billion, aims to deliver cost-effective, rapid solutions in defense.

The Dow Jones breaks 40k for the first time in history

The Dow Jones Industrial Average hit a record high of 40,000 reflecting market optimism after a positive inflation report. Rising 40% from its post-pandemic low, the Dow is up 6% this year. Despite being considered outdated compared to the S&P 500, the Dow’s rally signifies renewed investor confidence in the US economy. The S&P 500 and Nasdaq also reached new highs. President Biden highlighted the Dow’s gains to counter public pessimism about the economy.

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Talk soon and have a fantastic weekend!

Cheers,

Adam Valenta

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