Alphabet Drops Big News

PLUS: Trump names FTC chairman & Optimus goes off road.

Author

Thomas Collins
December 11, 2024

Cyber Snack

Read time: 2 min 45 sec

*what a week, huh?*

*Captain, it’s Wednesday*

Alphabet's 6% stock surge following the announcement of their breakthrough quantum chip, Willow. And Trump's appointment of Andrew Ferguson as the new FTC chair, signaling a shift in antitrust policies. Plus, more robot news, Sam Altman's new ChatGPT model, and more.

Let’s dive in.

Top Story

Alphabet shares up 6% on quantum chip news

The Willow Chip. Via Sky News

What’s happening? Alphabet has struggled recently, with its stock falling while other tech giants rallied. However, after announcing its "Willow" quantum chip, a major leap in quantum computing, the stock surged 6%. This development boosts Alphabet's market value and underscores its leadership in quantum technology, though real-world applications are still years away.

The Detail:

  • Stock Surge: Alphabet's shares rose by 6%, adding $136 billion to its market value, hitting a high not seen since July.

  • Quantum Breakthrough: The "Willow" chip solved a computation in five minutes that would take supercomputers 10 septillion years, showcasing its power.

  • Error Reduction: Willow advances quantum error correction, a key hurdle in scaling up quantum computers.

  • Long-Term Vision: Part of Google's roadmap for quantum computing, aiming for practical applications in fields like drug discovery and energy.

  • Future Outlook: Google plans to scale up to 1 million qubits, but widespread commercial application remains years away.

The Effects

Tech Impacts: The rise of quantum computing increases the need for quantum-resistant encryption. It could disrupt current crypto security while accelerating advancements in AI, cryptography, and materials science.

Business Impacts: Alphabet gains a significant competitive edge in the tech industry, potentially driving more IPOs and mergers in the growing quantum computing sector.

Policy & Power

Trump names Andrew Ferguson as next chair of Federal Trade Commission

Andrew Ferguson looking Happy. Via Bloomberg news.

What's Happening: President-elect Donald Trump has appointed Andrew Ferguson as the new chair of the Federal Trade Commission (FTC), replacing Lina Khan. Ferguson, who already served as a Republican commissioner at the FTC, does not need further Senate confirmation for this role.

Meaning: Ferguson's appointment as FTC chair indicates a shift from aggressive antitrust enforcement, focusing less on tech giants and more on free speech, aligning with Trump's perspective. This could ease merger regulations and prompt case reevaluations. Consumer protection might adopt a more conservative approach to unfair practices, reflecting broader political moves to install conservative regulators, possibly affecting data privacy and digital competition policies.

The Effects

Tech Impacts: Less aggressive antitrust enforcement could lead to more industry consolidation. A focus on free speech may alter content moderation policies. A lighter regulatory climate could boost tech investment and innovation.

Business Impacts: Easier mergers and acquisitions with fewer FTC hurdles. Reduced compliance costs and time, driving growth. Companies may focus more on acquisitions, and relaxed consumer protection policies could shift marketplace standards.

Other Headlines

Tesla Optimus team. Via X.

🦾 Optimus goes off road: A video on X was relased by Tesla showing the Oprimus robot walking off road showing some very impressive balancing skills.

💫 Trump's Investment Incentive: Trump vowed to accelerate permits for those investing $1 billion or more in the U.S., promising an economic boost.

🗡️ Murder Motive: The alleged killer of UnitedHealthcare's CEO is said to harbor "ill will toward corporate America," according to police.

💰 Apollo's Fund Goal: Apollo Global Management is aiming to raise $25 billion for its flagship private equity fund.

🕺 Spotify's Market Surge: Spotify's shares have rallied to add $100 billion to its market value.

🤑 Elon's Wealth Milestone: Elon Musk's net worth has surpassed the $400 billion mark.

🖥️ OpenAI's Canva Partnership: OpenAI is collaborating with Canva to enhance design capabilities with AI.

❓ Amazon Sells Hyundai: Amazon has started selling Hyundai vehicles through its platform.

🥏 OpenAI's Sora Model: OpenAI introduced Sora, a new model focused on video generation and editing.

Thanks for reading.

Until next time!

Thomas & the ONUE team 🚀