Top stories today:

1. Trump, Elon discuss advisory role in potential 2nd term
2. CoreWeave plans IPO in H1 2025
3. Mistral releases Codestral model, #1 open-weights coding model
4. GPT-4 leads in 3 out of 4 Scale AI’s new LLM rankings

0. Data and calendar

1. Trump, Elon discuss advisory role in potential 2nd term

• “The role hasn’t been fully hammered out and might not happen.”

• [They] “talk on the phone several times a month,” discussing “immigration, technology and science, including the U.S. Space Force.”

• Elon doesn’t want to only hand out cash, he wants the influence.

2. CoreWeave plans IPO in H1 2025

• Later this year: interviews with investment banks.

• $19B: last valuation.

• $7.5B in debt raised in May.

• $2.4B in revenue was projected for 2024 in 2023, but actual revenue could be even higher.

4. Mistral releases Codestral model, claimed to be #1 open-weights coding model

• Non-commercial use only, with suspicions that it was trained on copyrighted content.

• 22B model.

• Trained on 80+ languages, including Python, Java, C, C++, and JavaScript.

Codestral still underperforms vs. GPT-4 and other closed models (see more below)

5. GPT-4 leads in 3 out of 4 Scale AI’s new LLM rankings

It leads in instruction following (text), coding, and Spanish, while Claude 3 Opus leads in math:

In our favorite LMSYS Chatbot Arena Leaderboard, Gemini’s May version jumped ahead of Claude 3 Opus

Now just behind OpenAI’s GPT-4o:

6. Interesting videos, posts, and memes

7. Other headlines

AI

• Perplexity in talks to raise $250M at $3B from Bessemer.

• Groq reporting 1.1K tokens per second after Samba’s 1K record.

• Altman weighs converting OpenAI into a for-profit corporation.

• Apple to use black box processing to protect privacy in its AI usecases.

• Gavin Newsom surprisingly warns against over-regulating AI.

• Palantir wins $480M AI computer vision deal with Army.

• The Atlantic, Vox Media sign licensing agreements with OpenAI.

Tech

• HP’s revenue -1% to $12.8B in quarter.

• Salesforce’s revenue +11% to $9.2B, as op. margin rises to 18.7%.

• Apple TV+ app likely coming to Android.

• AST SpaceMobile stock +69% after Verizon satellite internet deal.

• Google confirms leaked Search algorithm docs are real.

• Solutions by Text raises $110M after bootstrapping for decade.

Tech & law

• China to impose exports controls on aviation tech starting Jul 1.

Biotech

• Natural Cycles, world’s 1st contraceptive app, raises $55M.

• MDMA may be approved by FDA in Aug.

• Novo Nordisk’s $8B plan to expand its semaglutide production: deep dive.

Business

• China may fine PwC record $138M+ over Evergrande bankruptcy.

• Boeing due to submit plan to FAA on quality breakdowns.

Crypto

• Gemini Earn users will get back $2.2B of crypto in-kind.

• PayPal’s PYUSD on Solana to introduce confidential transfers.

U.S. politics

• Trump jury does not reach decision on 1st day, asks to rehear testimony.

World

• Israel takes control of Gaza’s border with Egypt to prevent weapons smuggling.

• Year-end: when war is expected to last: official.

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