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August 20th - According to The Information, citing a source familiar with the matter, Nvidia (NVDA.O) has begun discussions with data annotation service provider Mercor regarding an investment. Mercor helps the chip designer develop open-source AI models. This investment would be part of a $20 billion funding round for Mercor. Existing investor General Catalyst has been in talks to lead this round. Mercor has historically derived most of its revenue from closed-source AI model developers such as OpenAI, Google, and Anthropic. However, Mercors revenue from Nvidia is growing as Nvidia prioritizes the development of its Nemotron open-source model, which aims to compete with the worlds most advanced open-source models. The source revealed that Nvidia paid Mercor tens of millions of dollars last quarter. In addition to Mercor, Nvidia uses data from other providers such as Turing and Scale, and also has its own internal data team.The Federal Reserve will release the minutes of its monetary policy meeting in ten minutes.Market news: The United States plans to halve tariffs on Canadian steel and aluminum in a trade agreement.S&P upgraded Micron Technology (MU.O) to "BBB+" due to improved confidence in the companys near-term demand outlook. The outlook is "positive".On August 20th, US President Trump told reporters at the White House on the 19th that negotiations with Iran might resume "at some point," but Iran must completely abandon its nuclear weapons. When asked if the US would return to negotiations, Trump said, "Maybe at some point. But right now, I think the situation is very good." He then added, "The logic is simple, they have to completely give it up," and "Iran must never have nuclear weapons." Trump reiterated that the US "owns" and "completely controls" the Strait of Hormuz, and stated that Irans "occasionally launching drones does cause trouble."

BTC Fear & Greed Index Signals a Bullish BTC Session Despite Headwinds

Skylar Shaw

Feb 28, 2023 15:15

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Bitcoin (BTC) experienced a 0.25% decline on Monday. Bitcoin finished the day at $23,502, partially erasing a 1.65% rise from the previous day. Bitcoin fell shy of the $24,000 mark for the third day in a row following the negative session.


After a turbulent morning, Bitcoin surged to a peak of $23,891 in the middle of the afternoon. Before going backward, Bitcoin passed through the First Significant Resistance Level (R1), which is located at $23,795. Bitcoin fell to a late low of $23,131 following the turnaround. Before finishing the day at $23,502, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,205.

Fed Concern and Regulation Risk Anxiety Drive Bitcoin Away less than $24,000

As investors processed the G20 news and post-G20 remarks that offered investors a preview of what to anticipate, regulatory risk worries resurfaced on Monday. Although the G20 refrained from openly banning it, the discussion of enacting stringent regulation measures breeds doubt.


A Forbes story on Binance moving $1.8 billion of user assets to hedge funds on Monday challenged mood amid intense regulatory and legislator examination. CZ, the Founder of Binance, had not yet commented on the story as of the time of writing.


US economic indexes and the NASDAQ Composite Index briefly eased the afternoon session. In January, core durable goods sales in the US rose by 0.7%, correcting a 0.4% drop in December.


Analysts predict a 0.1% increase. Goods Purchases Non-Defense Ex Aviation, the Fed's favored measure, rose by 0.8%, correcting a 0.3% decline from December.


The most recent statistics, however, backed a more active Fed interest rate track to bring inflation back to the goal range. The NASDAQ composite Index increased by 0.63% on Monday thanks to assistance from decline purchasers. This morning, the NASDAQ mini gained 10.75 points.


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