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| Here's your daily business briefing. - 💻 Nvidia CEO announces new AI chips
- 🔍 Deep Dive: Tinder downloads drop, but dating apps endure
- 🚗 VW revives U.S. brand for Electric SUVs
Thanks for reading! Shriram
p/Shriram | |
| 1 | | Nvidia introduced its latest AI chip series, Blackwell, featuring the GB200 chipset, to launch this year, aiming to meet the rising demand for powerful GPUs amidst shortages of chips like the Hopper H100. This new series includes a transformer engine tailored for running AI models like ChatGPT based on transformers. More: - Blackwell-based processors boast a substantial performance boost, delivering 20 petaflops in AI performance, a significant upgrade from the H100's 4 petaflops.
- The GB200 will be offered as a server, the GB200 NVLink 2, which combines an Arm-based Grace CPU with 72 Blackwell GPUs.
- With the help of Nvidia's new NIM (Nvidia Inference Microservice) software, businesses may use their current hardware for AI activities by facilitating inference on older Nvidia GPUs.
- The annual license fee for the Nvidia enterprise software subscription, which includes NIM, is $4,500 per GPU.
Zoom Out: - Johnson & Johnson MedTech and Nvidia are collaborating on AI applications for surgery, focusing on analyzing surgical videos and automating post-procedure documentation to enhance efficiency in over 75 million annual procedures.
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What the numbers say: Tinder's annual downloads have dropped by over a third since its peak in 2014, and paying users decreased by 8% in the past year to just below 10 million. Despite Tinder's decline, dating app downloads have more than doubled since 2012, reaching over 36 million in 2023, albeit with a 2% decrease from the previous year. Bumble's downloads have steadily risen since 2021 and are expected to surpass Tinder's this year, with over half its users falling between 18 and 25. Relevance: Dating apps are prominent in American culture, particularly among younger generations seeking potential partners. Tinder and Bumble are adjusting their approaches to appeal to Gen Z users, introducing features such as short-term subscription options and emphasizing relaxed dating environments, while Match Group maintains its industry dominance with a market value far exceeding that of its rivals. More data: Tinder's dwindling downloads mirror a broader trend of evolving preferences in the dating app landscape, where platforms such as Bumble and Hinge are garnering popularity, especially among younger users. Gen Z's distinct dating mindset, prioritizing authenticity and casual interactions, prompts dating app providers to adapt their strategies and functionalities to cater to this demographic shift. | | | |
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| 3 | | Volkswagen is reviving the Scout SUV brand with the launch of Scout Motors, a subsidiary focused on designing and selling electric SUVs, particularly in the U.S. market. Inspired by the nostalgic legacy of Rivian, Scout Motors aims to introduce all-electric off-road-capable SUVs, building on the heritage of the original Scout SUVs produced by International Harvester in the 1960s and '70s. More: - With development already started, Scout Motors intends to invest $2B in its Blythewood, South Carolina, facility.
- In addition to hiring for various roles, the company has a design center with a head of design located in Novi, Michigan.
- Scout's electric vehicles (EVs) will be equipped with modern technology, with a touch of nostalgia but not too much retro.
- The EVs, which will compete with the Tesla Model Y, Ford Mach-E, and Rivian's R2 SUV, are anticipated to be sold in early 2026 for about $45,000.
- Volkswagen seeks to harness untapped opportunities in the U.S. market by integrating Scout Motors into its strategy to attract and retain customers.
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| 4 | | Pfizer plans to sell approximately $2.5B worth of shares in Haleon Plc, reducing its ownership stake from 32% to 24%. This move marks Pfizer's first divestment of shares in the UK consumer health company, which was formed through the merger of GSK's and Pfizer's consumer health units and is recognized for brands like Centrum vitamins and Sensodyne toothpaste. More: - The action aligns with a trend in which pharmaceutical corporations split out their generic medicine and consumer health divisions to concentrate on novel treatments.
- After the news, Haleon's shares dropped more than 3% in early London trading; nevertheless, since separating from GSK in 2022, they have increased by roughly 3%.
- As part of the process, Pfizer will also sell the business roughly $400M worth of Haleon shares.
- Since splitting from GSK in 2022, Haleon has been reducing expenses and optimizing its portfolio; the latest results suggest that revenue growth could reach 6% this year.
- Following GSK, which has raised nearly $3.2B through three prior sell-downs of its shares in the company, Pfizer has decided to lower its position in Haleon.
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| 5 | | Coinciding with her Pink Friday 2 world concert tour starting on March 1, Nicki Minaj has launched Pink Friday Nails, a direct-to-consumer press-on nail brand. The brand offers customizable press-on nails in 11 designs and various shapes and lengths, priced between $19.99 and $24.99, and is available on its website. More: - The brand boasts exclusive customization options, features designs by Minaj's nail designer, Yvett G., and includes styles Minaj showcases at events like the MTV Video Music Awards.
- Minaj dedicated more than a year to creating Pink Friday Nails, highlighting their vegan and cruelty-free nature, aiming to revolutionize the press-on nail market with professionally crafted, affordable offerings.
- Minaj said her need for quick-fix, premium nails as a working mother inspired the brand.
- Pink Friday Nails adds to the trend of celebrity-backed brands like Rihanna's Savage x Fenty and Fenty Beauty, Kim Kardashian's Skims, and Jennifer Aniston's LolaVie, aligning with a report by JLL indicating 60% of such brands were founded in the last six years, with 53% in the beauty category.
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| 6 | | Kroger intends to offload its specialty pharmacy division to a subsidiary of Elevance Health, CarelonRx, with the transaction's terms undisclosed. The deal is slated for completion in the latter half of 2024, with no anticipated impact on Kroger's 2024 guidance. More: - The specialized pharmacy division of the organization is dedicated to providing sophisticated care to individuals with chronic conditions.
- This news was made amid Kroger's attempts to halt its planned merger with Albertsons due to regulatory resistance.
- To address antitrust concerns, Kroger and Albertsons had already announced plans to sell off assets, including 400 shops.
- With the sale of its specialty pharmacy business, Kroger will continue to maintain control over its Little Clinic and in-store retail pharmacies.
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- XPeng's stock gained traction following the debut of its more affordable brand, signaling intensified competition in China's electric vehicle sector with ongoing price reductions by manufacturers.
- Sports Illustrated secured a publishing deal with Minute Media, alleviating fears of a potential cessation of its print edition.
- Gasoline prices are now higher YoY, a trend anticipated to persist due to ongoing drone attacks on Russian oil facilities.
- Hertz's CEO, Stephen Scherr, is stepping down at the end of the month, with Gil West, former COO of Delta Air Lines and GM's Cruise unit, set to replace him.
- Visa and Mastercard have reached a groundbreaking $5B settlement, reshaping the landscape of financial transactions as we know it.*
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 | Freelance Writer | | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. | | This newsletter was edited by Aaron Crutchfield | |
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