Top stories today:

1. OpenAI’s GPT-4o mini released: strongest small model, low pricing
2. CrowdStrike deploying fix for Microsoft outage that hit firms globally
3. Netflix’s revenue +17% to $9.6B in Q2, subscribers +8M to 278M
4. Harris odds jumps to 22%, from 18%, after Obama pressures Biden

0. Data and calendar

1. OpenAI’s GPT-4o mini released: strongest small model with very low pricing

GPT-4o mini’s MMLU of 82% is the highest among small language models, and its pricing is close to being the cheapest:

• “Supports text and vision in the API, with support for text, image, video and audio inputs and outputs coming in the future.”

• 128K context window.

• Oct. 2023: knowledge cutoff.

• $0.60 per 1M output tokens.

• OpenAI has talked to Broadcom about developing new AI chip.

Mistral released its open 12B model NeMo today, performing in line with Google’s Gemma 2 9B and Meta’s Llama 3 8B

• Open models remain 6-12 months behind OpenAI.

2. CrowdStrike deploying fix for Microsoft outage that hit banks, airlines, stock exchanges globally

• American, United, and Delta had grounded all flights.

• London Stock Exchange, McDonalds, and many other companies reported issues.

• CrowdStrike CEO said “a fix has been deployed.”“This is not a security incident or cyberattack.”

• Stock -2% in the pre-market.

4. Netflix’s revenue +17% YoY to $9.6B in Q2, subscribers +8M QoQ to 278M