In partnership with

Good morning readers. Dublin's innovative portal connecting to New York City faced a hiccup as inappropriate behavior led to its temporary closure. Despite heartwarming reunions and even a proposal, incidents of flashing and sharing sensitive content prompted officials to intervene. While acknowledging the vast majority's positive interactions, the Dublin City Council vows to implement “technical solutions” to ensure a seamless experience. Set to expand globally, the portal's aspiration to foster connections remains undeterred by this temporary setback.

Let’s jump into today’s storylines.

In today’s digest:

• Google claps back at OpenAI’s latest release with a few of their own

• Headline Hustle: Congress approves $1 billion arms deal for Israel, Harvard reaches deal with student protestors to end encampments, Walmart lays off hundreds of employees and relocates others back to the office

• Are meme stocks making a comeback?

• Pulse Points: What’s Trending

TECH

Google unveils a full slate of AI features at their annual I/O conference

Just a day after OpenAI’s splashy unveiling of its new ChatGPT model, Google fired back with a dazzling display at its annual Google I/O developer conference, showcasing how AI will revolutionize daily life. The term “AI” was mentioned 120 times during the event—counted, of course, by Google’s AI platform Gemini.

AI everywhere, all at once

CEO Sundar Pichai kicked off the keynote by introducing Gemini 1.5 Pro, Google’s latest AI model. With features like Ask Photos, users can search their photo collections for specific moments, such as when their child learned to swim, or even recall a license plate number from a saved picture. Gemini also summarizes emails and turns textbooks into AI-led lectures, making daily tasks more efficient.

OpenAI had just launched GPT-4o, aimed at making ChatGPT a personal assistant capable of real-time conversations, interpreting screenshots, photos, and documents. Google’s response? Gemini’s “multimodal” capabilities, which can process text, voice, and images, were highlighted in various demos, including a virtual teammate that manages tasks and organizes data.

But Google didn’t stop there.

• It announced improvements to search functionality, enabling users to ask natural questions and receive targeted suggestions, such as kid-friendly restaurants or troubleshooting a camera issue via Google Lens.

• Project Astra, a DeepMind AI initiative, promises AI assistants that use phone cameras to identify objects and find misplaced items, hinting at future augmented reality integrations.

AI on your Android. Later this year, Google plans to integrate more AI features into phones as well. Users will be able to drag and drop AI-generated images into Google Messages and Gmail, and ask questions about YouTube videos and PDFs on their Android devices. A new tool will also detect suspicious activity during calls, potentially foiling scammers.

Google’s commitment to safety: To address potential misuse, the company is enhancing its SynthID feature to detect AI-generated content and partnering with experts to test and improve its models. Despite AI’s risks, such as inaccuracies and biases, Google’s commitment to AI-driven innovation remains strong, with potential collaborations on the horizon, including with Apple.

SPONSORED BY THE RUNDOWN AI

Learn how to make AI work for you.

AI breakthroughs happen every day. But where do you learn to actually apply the tech to your work? Join The Rundown — the world’s largest AI newsletter read by over 600,000 early adopters staying ahead of the curve.

1. The Rundown’s expert research team spends all day learning what’s new in AI

2. They send you daily emails on impactful AI tools and how to apply it

3. You learn how to become 2x more productive by leveraging AI

Subscribe with one click.

IN THE KNOW

Headline Hustle

👍️ Biden administration approves $1 billion arms deal for Israel. The Biden administration has informed Congress of its intention to proceed with over $1 billion in new weapons sales to Israel. This package includes $700 million in tank ammunition, $500 million in tactical vehicles, and $60 million in mortar rounds. This announcement comes shortly after a temporary pause in a shipment of bombs intended for an Israeli operation in Rafah, highlighting the complex balance the U.S. seeks between supporting Israel and responding to international concerns about military actions in densely populated areas. The new arms deal is seen as a signal of ongoing U.S. support for Israel, despite recent tensions over the conduct of operations in Gaza.

🏫 Harvard reaches deal with student protestors to end encampments. Harvard University has reached a resolution with pro-Palestinian protesters, agreeing to dismantle their encampment one week before commencement. This peaceful resolution contrasts with the more confrontational scenes at other universities. As part of the agreement, Harvard will reconsider the disciplinary actions against involved students and will also engage in discussions concerning the university's endowment, though the protesters maintain that these discussions are not tantamount to divestment. Similar negotiations and adjustments have occurred at other universities like Cornell and Princeton.

🛒 Walmart is laying off hundreds of employees and relocating others back to the office. Walmart is conducting layoffs of hundreds of corporate workers and relocating many to its headquarters in Bentonville, Arkansas, as part of a consolidation effort. This move, detailed in a memo from Chief People Officer Donna Morris, aims to bring more employees back to the office post-COVID-19. The restructuring comes just days before Walmart's earnings report and follows other cost-cutting measures, including the closure of 51 health clinics. Walmart is the nation's largest private employer and is currently developing a new 350-acre campus in Bentonville, featuring multiple office buildings and amenities, signaling a significant investment in its corporate infrastructure.

FINANCE

Roaring Kitty’s tweet sparks meme stock frenzy

All it took was a single tweet. Shares of GameStop and other meme stocks skyrocketed, proving once again that internet-fueled trading can move markets in a flash.

Keith Gill, better known as “Roaring Kitty” on YouTube and “DeepF—ingValue” on Reddit, broke his three-year silence on Sunday with a simple tweet: a picture of a man leaning forward in his seat. No stock tickers mentioned, but that was enough to ignite the trading world.

By Monday, GameStop’s stock had more than doubled at its intraday high, closing up 74% for its fourth-largest one-day percentage gain ever. The frenzy continued on Tuesday, with shares climbing another 60% and in just two days, GameStop’s market value surged by $9.6 billion. Other pandemic-era favorites like AMC, Plug Power, BlackBerry, and Koss also saw massive gains.

The power of meme stocks

This resurgence underscores the lasting impact of “degen” trading, where amateur investors prioritize potential quick profits over business fundamentals. Inspired by Gill’s tweet, traders flocked to platforms like Robinhood, sharing their triumphs on Reddit’s WallStreetBets.

The broader U.S. stock market rose alongside meme stocks, pushing the Nasdaq Composite to new highs.

• GameStop’s surge also inflicted significant losses on short sellers, with S3 Partners estimating over $800 million in paper losses.

• This triggered a short squeeze, where short sellers are forced to buy back shares at higher prices, driving the stock up further.

All eyes are on the kitty: As trading activity ramps up, eyes remain on Roaring Kitty’s social media for the next clue. Investors are eager for another video that could send GameStop soaring once more.

SNIPPETS

Pulse Points

• Comcast announced it will introduce a streaming bundle at a discounted rate for its cable, broadband, and mobile subscribers, combining services from Peacock, Netflix, and Apple TV+.

• Eight TikTok creators sued the U.S. government to block the law requiring ByteDance to sell the app or face a U.S. ban, claiming it violates the First Amendment, according to their attorney's statement on X.

• Boeing is now subject to criminal prosecution after the company violated the terms of a 2021 agreement, which had allowed it to avoid criminal charges for two fatal 737 Max crashes

• OpenAI co-founder Ilya Sutskever announced his departure from the Microsoft-backed startup, following a leadership crisis involving co-founder and CEO Sam Altman.

• Red Lobster is expected to file for bankruptcy as early as next week to reduce its debt, according to sources familiar with the situation.

Was this email forwarded to you? Feel free to sign up using the following link: https://www.pulseofprogress.info/

⚡️ Want to feature in this newsletter?

Elevate your brand's visibility to over 7,000+ decision makers by partnering with Pulse of Progress and seize the chance to connect with our rapidly expanding, highly engaged audience! Reach out for more details.