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Good day valued readers,

We hope this week's carefully curated selection of news finds you well. In this edition, we cover the latest developments across investing, finance, crypto, AI, and other topics to help you stay informed.

As always, our goal is to provide you with a professional, unbiased roundup of noteworthy news to augment your understanding of what's happening in the world. We take pride in hand-selecting articles from trustworthy sources across a diverse range of industries.

Please enjoy this week's newsletter. We're grateful for the opportunity to share these insights with you and look forward to continuing to be a valuable resource.

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Investing and Finance

As we dive into this week's tech and finance roundup, the landscape is buzzing with significant developments that are reshaping industries and economies alike. AMD's bold $4.9 billion acquisition of ZT Systems marks a decisive move to bolster its AI capabilities, signaling the company's commitment to competing in the rapidly evolving artificial intelligence market. Meanwhile, Goldman Sachs offers a glimmer of hope by lowering the probability of a US recession, although economic uncertainties persist. In the automotive sector, GM's decision to cut jobs in its software and services unit reflects the ongoing transformation and cost-optimization efforts in traditional industries adapting to a digital-first world.

China's creative approach to boosting lending for tech start-ups underscores the global race for innovation dominance. On the employment front, a growing trend of workers seeking new jobs due to wage dissatisfaction highlights the shifting dynamics in the labor market. As economic indicators fluctuate, the price of gold has hit another all-time high, extending its rally and reinforcing its status as a safe-haven asset. In the streaming world, Netflix's stock has reached a record high, not seen since 2021, following successful strategies in advertising and password sharing crackdowns.

These developments paint a complex picture of our current economic and technological landscape, where innovation, financial strategies, and workforce dynamics intersect to shape the future of industries and investments alike.

1. AMD Expands AI Portfolio With $4.9B Purchase of ZT Systems - Read more

2. Goldman Sachs Lowers Probability of US Recession - Read more

3. GM Cutting Jobs at Its Software and Services Unit - Read more

4. China gets creative to boost lending to tech start-ups - Read more

5. More Workers Are Seeking New Jobs as Wage Dissatisfaction Grows - Read more

6. Price of Gold Hits Another All-Time High, Extending Year's Rally - Read more

7. Netflix Stock Hits Record High—First Since 2021—After Ads, Password Crackdown - Read more

8. What are common traits of financially mainstream people? Here are some key indicators - Read more

9. Fed Officials Not Signaling Interest Rate Cuts Yet - Read more

10. Meta's ad biz booms with AI - Read more

11. Nvidia Expected To Post Another Strong Quarter on AI Demand, Analysts Say - Read more

12. If populations are declining — how can investors make the most of it? - Read more

13. Federal Reserve Meeting Minutes Show Increasing Support for Interest Rate Cuts - Read more

Crypto News

In this week's crypto pulse, we're witnessing a flurry of activity that's reshaping the digital asset landscape across the globe. Bitwise's strategic acquisition of ETC Group marks a significant expansion into Europe, positioning the firm to capitalize on the continent's growing appetite for crypto-based financial products. Meanwhile, the crypto infrastructure continues to evolve, with Bitcoin staking platform Babylon gearing up for a phased mainnet launch, promising new opportunities for Bitcoin holders to earn passive income.

Tether's expansion of USDT to the Aptos blockchain highlights the ongoing quest for faster, cheaper transactions in the stablecoin space. In a notable market shift, Cardano's ADA has slipped out of the top 10 cryptocurrencies as Tron gains ground, reflecting the dynamic nature of crypto rankings. Brazil's crypto scene is heating up with Hashdex's plans to launch a Solana ETF, further diversifying investment options in the region.

Sygnum's industry-first $50M Bitcoin-backed syndicated loan to Ledn demonstrates the growing sophistication of crypto-based financial instruments. As Ethereum gas fees fall, experts are eyeing a potential ETH price bottom, sparking discussions about entry points for investors. In a stark contrast, Malaysian authorities have taken a hard stance against illegal mining operations, literally crushing Bitcoin mining rigs with a steamroller.

Regulatory landscapes are shifting too, with Nigeria's SEC chief hinting at imminent crypto exchange licenses, potentially opening new avenues for crypto adoption in Africa. Bitcoin miners are adapting to the upcoming halving by upgrading power centers and exploring AI applications, showcasing the industry's resilience and innovation. Tether's development of a UAE Dirham-pegged stablecoin signals growing interest in region-specific digital currencies, while El Salvador continues its Bitcoin adoption journey by launching certifications for civil servants.

1. Bitwise Expands Into Europe With Acquisition of ETC Group, Issuer of the Largest Physical Bitcoin ETP in Europe (BTCE) - Read more

2. Bitcoin Staking Platform Babylon to Start Phased Mainnet Launch This Week - Read more

3. Tether expands USDT to Aptos blockchain for lower fees - Read more

4. Cardano (ADA) loses top 10 crypto spot as Tron sees growth - Read more

5. Hashdex to launch Solana ETF in Brazil - Read more

6. Sygnum Issues Industry-first $50M Bitcoin-backed Syndicated Loan to Ledn - Read more

7. Ethereum Gas Fees Fall as Experts Foresee an ETH Price Bottom - Read more

8. Malaysian Police Crushed Hundreds of Bitcoin Mining Rigs With a Steamroller - Read more

9. Nigeria's SEC Chief Says Crypto Exchange Licenses Are Imminent - Read more

10. Bitcoin miners upgrade power centers and get into AI to brace for slashed revenue post halving - Read more

11. Tether to Develop UAE Dirham-Pegged Stablecoin - Read more

12. El Salvador launches Bitcoin certifications for civil servants - Read more

Artificial Intelligence

In this week's AI digest, we're witnessing a remarkable surge in artificial intelligence developments across various sectors, from robotics to governance and education. A former Huawei 'Genius Youth' recruit has launched humanoid robots, potentially rivaling Tesla's Optimus and showcasing China's growing prowess in advanced robotics. In a surprising political twist, Wyoming voters are faced with a mayoral candidate proposing to let an AI bot run the government, raising intriguing questions about the future of AI in public administration.

The United States continues to dominate the AI landscape, topping the AI ranking index with triple the investment and job postings compared to China and other nations. This lead is further solidified by AMD's $4.9 billion acquisition of server maker ZT Systems, a strategic move to strengthen its AI capabilities in the fiercely competitive chip market.

ElevenLabs' global launch of its text-to-speech app Reader marks another milestone in AI-powered voice technology. However, not all AI initiatives are met with enthusiasm, as evidenced by the backlash from South Korean parents against plans for AI textbooks in schools. This resistance highlights the ongoing debate about the role of AI in education.

As language models continue to evolve, researchers note that LLMs are developing their own understanding of reality alongside improved language abilities, prompting both excitement and concern in the AI community. The push for more powerful AI systems is driving data centers towards nuclear power options, signaling a shift in the energy landscape for tech infrastructure.

In the workplace, 74% of IT professionals fear AI making their skills obsolete, underscoring the urgent need for upskilling and adaptation in the tech industry. Meanwhile, the legal landscape of AI is being tested as authors sue Anthropic, the creator of Claude AI chatbot, for copyright infringement, potentially setting precedents for AI and intellectual property rights.

1. Former Huawei ‘Genius Youth’ recruit launches humanoid robots to rival Tesla’s Optimus - Read more

2. Wyoming voters face mayoral candidate who vows to let AI bot run government - Read more

3. US tops AI ranking index with triple the investment, job postings as China and others: report - Read more

4. ElevenLabs’ text-to-speech app Reader is now available globally - Read more

5. AMD buying server maker ZT Systems for $4.9 billion as chipmakers strengthen AI capabilities - Read more

6. South Korea’s plan for AI textbooks hit by backlash from parents - Read more

7. LLMs develop their own understanding of reality as their language abilities improve - Read more

8. AI to go nuclear? Data center deals say it’s inevitable - Read more

9. 74% of IT pros see AI making their skills obsolete - Read more

10. Authors sue Claude AI chatbot creator Anthropic for copyright infringement - Read more

11. LVMH Founder Bernard Arnault’s Family Firm Invests in AI Companies - Read more

12. China research ‘bridges gap’ between power hungry AI models and the human brain - Read more

13. IDC Spending Guide: Worldwide Spending on AI Forecast to Reach $632B in 2028 - Read more

14. Nvidia unveils advances in digital humans and avatar tech at Gamescom - Read more

15. IKEA Says AI-Powered Warehouse Drones Will Improve the Retail Shopping Experience - Read more

16. Meta’s Self-Taught Evaluator enables LLMs to create their own training data - Read more

17. AI Cheating Is Getting Worse - Read more

18. Artificial intelligence is losing hype - Read more

19. AI initiatives would get $40M annually in draft California journalism bill agreement - Read more

20. Best Buy Introduces AI-Powered Delivery Tracking, Signaling Shift in Retail Logistics - Read more

Top Article Picks this week

In this week's lifestyle and science roundup, we're exploring a diverse array of topics that touch on health, relationships, technology, and personal growth. Nutritionists have compiled a list of the 12 best foods for optimal gut health, offering readers practical dietary advice for improving their overall well-being. On the relationship front, an intriguing article examines how divorce might actually lead to better parenting, challenging conventional wisdom about family dynamics.

The nature of friendship comes under scrutiny as we delve into its complexities, exploring both the wonder and potential pitfalls of chosen relationships. In a lighter yet thought-provoking piece, we investigate the curious case of shrinking toilet paper rolls, a prime example of "shrinkflation" that's become a topic of consumer concern. The concept of "toxic masculinity" is examined through a historical lens, offering insights into its origins and evolution.

Meanwhile, OpenAI's new voice mode pushes the boundaries of artificial intelligence, plunging users into the uncanny valley and raising questions about the future of human-AI interaction. For those seeking personal growth, we present a counterintuitive guide to happiness and explore methods to break free from Spotify's algorithm, questioning whether the streaming giant's approach to music discovery has inadvertently stifled musical exploration.

The age-old debate of cold versus warm water consumption is revisited, along with a look at the purported benefits of drinking eight glasses of water daily. In the realm of science, we encounter fascinating developments, from the unexpected results of feeding the Fibonacci sequence into a quantum computer to the enduring concept of universal basic income.

We also examine the scientific benefits of well-timed cursing and offer insights into enhancing work productivity. This eclectic mix of topics invites readers to ponder everything from the value of letting friendships naturally fade to the potential benefits of early rising, providing a rich tapestry of ideas to stimulate thought and discussion.

1. 12 Best Foods to Eat for Better Gut Health, According to Nutritionists (Reading time: 8 min) - Read here

2. Can Divorce Make You a Better Parent? (Reading time: 5 min) - Read here

3. The Trouble with Friends. The wonder, and the curse, of friendship is choice. (Reading time: 20 min) - Read here

4. Why toilet paper keeps getting smaller and smaller. There is no end to America’s most egregious case of shrinkflation (Reading time: 10 min) - Read here

5. The Strange History of “Toxic” Masculinity (Reading time: 12 min) - Read here

6. OpenAI’s new voice mode threw me into the uncanny valley (Reading time: 5 min) - Read here

7. A Counterintuitive Guide to Happiness (Reading time: 10 min) - Read here

8. How to break free of Spotify’s algorithm. By delivering what people seem to want, has Spotify killed the joy of music discovery? (Reading time: 15 min) - Read here

9. Should You Drink Cold or Warm Water? The Benefits of Drinking 8 Glasses of Water a Day (Reading time: 10 min) - Read here

10. Everything is Fertile (Reading time: 5 min) - Read here

11. Scientists Fed the Fibonacci Sequence Into a Quantum Computer and Something Strange Happened (Reading time: 2 min) - Read here

12. Why It’s OK to Let Friendships Fade Out (Reading time: 6 min) - Read here

13. What Happened When I Forced Myself To Wake Up At 5 A.M. Every Day For A Month (Reading time: 5 min) - Read here

14. The Deep and Enduring History of Universal Basic Income (Reading time: 22 min) - Read here

15. The benefits of a well-timed curse: What science says about swearing (Reading time: 8 min) - Read here

16. 5 Scientifically Proven Ways to Enhance Your Work Output (Reading time: 5 min) - Read here

17. The Experiences of U.S. Adults Who Don’t Have Children (Reading time: 20 min) - Read here

18. Just Five Excellent Science Books You Should Read (Reading time: 2 min) - Read here

19. Daniel Pink: Don’t be deceived by the “intelligent” voice of cynicism (Reading time: 6 min) - Read here

20. 6 Ways to Train Your Brain to Literally Get Smarter (Reading time: 4 min) - Read here

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Book of the week

Capitalism without Capital: The Rise of the Intangible Economy by Jonathan Haskel and Stian Westlake offers a compelling exploration of the increasing significance of intangible assets in the modern economy. The authors skillfully argue that intangible investments, such as R&D, branding, and software, have become the primary drivers of economic success in the 21st century, surpassing traditional tangible assets like machinery and buildings. This shift, they claim, has profound implications for economic productivity, inequality, and the overall functioning of capitalism.

The book is well-researched, drawing on a decade of data to quantify the growth of intangible investments across different countries and industries. Haskel and Westlake present the unique characteristics of intangible assets—such as scalability, synergies, and spillovers—that differentiate them from tangible assets and make managing an intangible-rich economy more complex. While the book is dense with information, it remains accessible to a broad audience, blending technical economic analysis with clear, real-world examples.

The authors also consider the broader societal implications of this shift, including its role in economic inequality and the challenges it poses to traditional economic metrics like GDP. In the latter part of the book, they offer thought-provoking scenarios for the future of an intangible economy, providing practical insights for managers, investors, and policymakers. However, some readers may find the book's focus on the economic aspects of intangibles leaves social and ethical dimensions somewhat underexplored. Overall, Capitalism without Capital is an insightful and timely contribution to understanding the evolving nature of modern economies.

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