100 DeepSeeks
China is poised for a surge of artificial intelligence (AI) innovation, with over 100 DeepSeek-like breakthroughs expected in the next 18 months, according to Zhu Min, former Deputy Governor of China’s central bank. Speaking at the World Economic Forum, Zhu cited China’s vast engineering talent, consumer base and policy support as key drivers, Bloomberg reported.
The Troubling Unknowability of AI
Top AI labs — including OpenAI, Anthropic and Elon Musk’s xAI — are using a method called “chain-of-thought” to get AI models to solve problems step-by-step. While it has helped improve model design, researchers are seeing inconsistencies: sometimes the model’s final answer contradicts its own reasoning. This deepens concerns that developers don’t fully understand how generative AI reaches conclusions, the Financial Times reported.
Tesla Autonomous Ambitions Under Fresh Scrutiny
US regulators are investigating whether Tesla’s [TSLA] new paid robotaxi service in Austin broke traffic laws, citing online videos showing Teslas speeding and veering into the wrong lane, according to Seeking Alpha. Separately, Reuters reported that the company faces a wrongful death lawsuit after a 2024 Model S — equipped with autopilot and full self-driving features — crashed in New Jersey last year, killing three.
Can JD.com Reverse its Slump?
On June 18, founder Richard Liu announced plans to speed up JD.com’s [JD] overseas expansion and diversification, describing the past half-decade as “the most unremarkable and least-valuable five years in my entrepreneurial history”. Given strong financial indicators and forays into the food delivery and travel markets, OPTO explores the bull and bear case for JD stock to see if the company’s darkest period is truly over.
Wegovy’s Next Frontier: India
Novo Nordisk [NVO] will start selling its weight loss treatment in India, the firm announced Tuesday, entering a market that has the world’s third-largest obese population. The shots will sell for $50 a week, a fourth of the US cost of the drug but double the cost of Eli Lilly’s [LLY] Mounjaro treatment in India. In other news, the Danish pharma company has terminated its partnership with Hims & Hers [HIMS], accusing the US telehealth group of marketing copycat versions of its weight loss drug.
Huang Sells Stock
Under a new 10b5-1 plan adopted in March, Nvidia [NVDA] CEO Jensen Huang has started selling the chipmaker’s stock, offloading 100,000 shares worth $14.4m between June 20 and June 23. The plan, common among executives looking to cash in without spooking investors, would allow him to sell up to 6 million shares by the end of 2025, worth an estimated $865m. Huang’s $126bn fortune, almost entirely made up of Nvidia stock, makes him the 12th richest person in the world.
ARK is Hyped About Stablecoin
Writing in ARK Invest’s Disrupt newsletter, analysts David Puell and Frank Downing wrote that the GENIUS Act, approved last week by the US Senate, “removes the most important regulatory overhang on crypto-based dollars”. If the Act is passed by the House, they write, it would be “a step toward shoring up the US dollar as one of the default settlement assets of the internet”. Read OPTO’s recent deep dive into ARK’s stance on stablecoins here.
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