What I Read This Week…

Nvidia has become the most valuable company in the U.S., Claude 3.5 Sonnet sets new benchmarks in AI capabilities, and Congress passes the ADVANCE Act to boost U.S. nuclear energy development.

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Caught My Eye…

Nvidia's market capitalization recently passed the $3 trillion mark, surpassing Microsoft and Apple as the most valuable company in the United States. Nvidia now also accounts for 34.5% of the S&P 500's growth this year. So what's the problem? Nvidia’s growth is partly driven by speculation about the future potential of AI, as well as Nvidia’s central role in shaping that future. However, if these optimistic projections do not materialize as investors anticipate and Nvidia's stock were to decline, it would lead to a significant drop in the S&P 500 as well.

Anthropic released Claude 3.5 Sonnet this week, the first release in a forthcoming Claude 3.5 model family. Notably, Claude 3.5 Sonnet excels in the Graduate-level Proficiency Question Answering (GPQA) assessment, which is designed to assess advanced academic understanding across various disciplines, testing complex reasoning and knowledge application typically associated with graduate-level education. While the average PhD graduate scores 34% on this test and a specialized in-domain PhD scores around 65%, Claude 3.5 Sonnet has set a record with an impressive 67.2% score.

The ADVANCE Act, a bill aimed at boosting nuclear energy development in the U.S., has been passed by Congress and is now awaiting President Biden’s signature to become law. The Act seeks to streamline processes for next-generation reactor development, position the US as a leader in the international nuclear market, and help keep aging reactors operational. While the passage of this bill may accelerate nuclear technology development and deployment, its success will ultimately depend on how well it addresses longstanding concerns about nuclear safety, waste management, and public perception.

Other Reading…

Will Debt Sink the American Empire? (WSJ)

Can AI Startups Outrun Dot-Com Bubble Comparisons? Investors Aren’t So Sure (WSJ)

Waymo Gets Green Light for Expansion Into LA and Beyond (The Register)

The Exponential Growth of Solar Power will Change the World (The Economist)

How Crypto Money Is Poised to Influence the Election (NYTimes)

Ukraine Uses Beach Buggies, E-Bikes to Evade Russian Drones (WSJ)

The Dominant Model of the Universe is Creaking (The Economist)

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