Alibaba's Qwen App Hits 10 Million Downloads in First Week After Relaunch
The Numbers Alibaba's Qwen app drew more than 10 million downloads in the week after its relaunch. That's a strong start for the company's effort to build a ChatGPT rival. Alibaba shares climbed more than 5% Monday in Hong Kong after disclosing the numbers in a WeChat blog post. The rapid ramp follows Alibaba's move […]
"Big Short" Investor Michael Burry Starts $379/Year Newsletter Warning of AI Bubble
The Launch Michael Burry launched a Substack newsletter after deregistering his hedge fund. The "Big Short" investor is capitalizing on the 1.6 million followers he's built on X. His new publication is titled "Cassandra Unchained." It costs $39 a month or $379 annually. For comparison, Citrini Research charges $125 a month or $999 a year. […]
Novo Nordisk Alzheimer's Bet Falls Flat, Stock Tumbles
The Failure Novo Nordisk's closely watched Alzheimer's trials failed. The company tested an older oral version of semaglutide to see if it could slow cognitive decline. It couldn't. The trials were discontinued after two years despite plans for a third year. That suggests the drug offers virtually no benefit in slowing Alzheimer's progression. Novo had […]
U.S. Added 119,000 Jobs in September, Beating Forecasts After Data Drought
The Numbers The U.S. economy added 119,000 jobs in September, beating expectations. The forecast was for 50,000. That's up from the 4,000 jobs lost in August after a downward revision. July was also revised down to 72,000, a decrease of 7,000. The unemployment rate edged higher to 4.4%. That's the highest since October 2021. A […]
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