Bankers are shopping Hugging Face at triple the price it gave Nvidia
Cryptopolitan·- AI model-sharing platform Hugging Face has reportedly been approached for an acquisition valuation of $13 billion or higher and is reviewing bids with banks. - This potential valuation is nearly triple its $4.5 billion post-money valuation from 2023, following an earlier rejected $500 million offer from Nvidia that valued the company at $7 billion. - Serving as a core infrastructure provider for machine learning akin to GitHub, Hugging Face recently reached 13 million users and over 2 million public models while closing in on profitability.Instagram’s ‘First Draft’ feature aims to make editing Reels less tedious
TechCrunch·- Instagram announced the rollout of “First Draft,” a new editing feature that automatically trims selected video clips and removes pauses to create an initial cut in under 10 seconds. - The tool aims to save creators editing time and lower the barrier for inexperienced users by eliminating the need to manually work through every clip or use separate editing software. - The feature is initially rolling out on iPhone, enabling users to access it directly from the Instagram camera or the Reels gallery.Moonshot AI Said in Talks With Microsoft, Amazon, Google on Kimi K3 Revenue Sharing, Seeking Up to 30% Cut
TradingKey·- Chinese AI startup Moonshot AI is negotiating with Microsoft, Amazon, and Google for a revenue-sharing agreement of up to 30 % for its Kimi K3 large model on their cloud platforms. - The talks involve a model featuring 2.8 trillion parameters and occur amid US export restrictions, regulatory investigations, and an ongoing Series G financing round. - If finalized, Moonshot AI would become the first Chinese AI company to generate revenue directly through US cloud platforms, though regulatory approval remains uncertain.U.S. Stock Futures Flat Ahead of Nvidia (NVDA) Q2 Results
Tip Ranks·- U.S. stock futures remained relatively flat on Tuesday evening as investors anticipated upcoming inflation data and Nvidia's second-quarter earnings report. - The market awaited the release of the July PCE inflation report alongside results from major technology firms like CrowdStrike, Salesforce, Okta, and HP. - Nvidia was expected to report an EPS of $2.10 on $92.18 billion in revenue, with its market capitalization exceeding $5 trillion giving the report significant potential to influence the broader market.S&P 500 Retreats as U.S.-Canada Trade Talks Crumble
Tip Ranks·- The S&P 500 declined 0.28% following the collapse of trade negotiations between the U.S. and Canada. - Canadian Prime Minister Mark Carney attributed the breakdown to excessive U.S. demands that threatened national sovereignty and key industries. - President Trump criticized Canada for seeking unfair benefits and maintaining tariffs on American farmers after talks failed.Z3 Capital Partners LLC Buys 1,160 Shares of Meta Platforms, Inc. $META
Market Beat·- Meta Platforms reported second quarter earnings with revenue reaching $60.80 billion and earnings per share of $6.18, alongside significant institutional investments and ongoing insider trading activities. - The company faces mixed market sentiment driven by strong artificial intelligence-related ad growth and talent acquisition, contrasted with concerns over heavy artificial intelligence spending and regulatory risks. - Meta Platforms shares opened at $559.02 on Tuesday, maintaining a market capitalization of $1.42 trillion and a consensus analyst rating of Moderate Buy.