Latest AI Tech and Crypto Breakthroughs
The Daily Leo #671
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This week marks a wave of innovation in artificial intelligence technology and finance, as Huawei prepares to challenge Nvidia with a new AI chip, while xAI teases an advanced AI model for select subscribers. In the crypto space, Coinbase introduces a Bitcoin-focused investment fund for institutional players, and Thorchain launches a new token to support its user base. These developments highlight the rapid evolution of AI, cryptocurrency, and blockchain technologies, which would reshape human-tech interactions. The featured articles are worth your reading time.
Huawei to Challenge Nvidia with New "Ascend 910D" AI Chip
Huawei is set to test its new AI chip, the Ascend 910D, to rival Nvidia’s dominant H100 processor in the AI hardware market. Huawei is developing integrated computing systems like the CloudMatrix 384 to enhance its chips’ performance, fostering partnerships with Chinese tech firms to accelerate adoption and refinement of the technology. The testing is scheduled to begin in the coming weeks, with sample chips expected to reach Chinese tech firms by late May 2025. The U.S. export restrictions limited China’s access to Nvidia’s advanced AI chips, creating an opportunity for Huawei to supply domestic alternatives and challenge U.S. dominance in the AI hardware market. Mass shipments of the Ascend 910C are planned for May 2025.
Grok-it science: Elon Musk Hints at Grok 3.5 Beta
Elon Musk has stirred anticipation for the release of Grok 3.5 Beta, which will become the latest iteration of xAI's artificial intelligence model. In an announcement made on the X platform, Musk hinted that Grok 3.5 Beta will be available exclusively for SuperGrok subscribers. Grok 3.5 Beta is expected to push the boundaries of AI technology, provide unique answers to technical queries, and potentially benefit industries like space exploration. Grok 3.5 will utilize reasoning from first principles to address technical questions, build on the success of Grok 3, and is expected to disrupt the AI sector with its advanced reasoning capabilities. The beta release is set for the following week
Coinbase Launches Bitcoin Yield Fund
Coinbase is launching a Bitcoin Yield Fund for institutional investors seeking bitcoin yield with mitigated risk. The fund is to provide a conservative strategy that seeks a 4-8% net return in bitcoin per year, over a market cycle, and address security concerns. The fund is initially available only to non-U.S. investors through qualified custodians. The Bitcoin Yield Fund is set to officially open on May 1, accepting monthly subscriptions and redemptions with a five-business-day notice period. Subscribers can use third-party custody integrations to trade, avoiding riskier high-interest bitcoin loans and systematic call selling, and targeting institutional investors to circumvent SEC regulations.
Thorchain's TCY Token: What Worth After Launch?
TCY is a new token being launched by Thorchain to repay affected ThorFi users who had their BTC & ETH stuck in the protocol. TCY will be claimed dropped to ThorFi holders on an equal basis. This token can also be claimed on LEODEX. LEODEX is a cross-chain trading interface for Thorchain, Maya Protocol, and ChainFlip. At launch, LeoDex will support the TCY features introduced by Thorchain and have a dashboard where users can track their TCY purchases and the expected yield to be earned by the protocol. While Aaluxxmyth tells us about the 4 different types of price indiscriminate buyback pressure that Thorchain's TCY token will have after it goes live on May 5th, INLEO's co-founder thinks that TCY will increase significantly after it goes live. Though not financial advice, it's interesting how INLEO and Hive users who are expecting TCY would claim their on LEODEX as well as share their experience on INLEO to earn LEO token.
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