Weekly Market Metrics

Total Crypto Market Cap: down 7.7% to $2.171T
Total AI Sector Market Cap: down 11.5% to $22.4B

Top Movers (7 Days):

📈 Dojo Protocol (DOAI): up 49.2% to $0.03102
📈 Nosana (NOS): up 30% to $2.16
📈 DeepBrain Chain (DBC): up 15% to $0.002435

Weekly Highlights

Rapid fire updates full of alpha

News

Nvidia’s Director of Dev Tech confirmed the continuation of Akash integration with Brev, making Akash an indirect partner of Nvidia 🔥

Brian Armstrong, CEO of Coinbase, announced that CoinbaseDev enabled their first AI to AI crypto transaction. CoinbaseDev is building a API for AI agents that will enable them to onramp fiat, create secure wallets, send free USDC payments on Base, and interact with smart contracts. Sounds like Coinbase is bullish agents 👀

Nvidia reported record-breaking quarterly earnings, with revenue of $30.0 billion (up 122% year-over-year) and Data Center revenue of $26.3 billion (up 154% year-over-year), exceeding Wall Street expectations. NVIDIA's revenue composition has shifted dramatically towards data center sales due to the AI compute infrastructure boom.

Elon Musk shared a video of Tesla’s AI supercluster (basically a warehouse of computer hardware). The world’s largest companies are investing trillions in AI. Probably nothing…

A graphic from Felicis shows surging interest in AI agents across research paper mentions, search volumes, open-source repositories, and job postings.

Mark Ermolov, a security researcher, announced the successful extraction of Intel SGX's Root Provisioning Key (Fuse Key0) from a genuine Intel CPU. This breakthrough compromises the Root of Trust for Intel SGX, a critical secure enclave technology, potentially undermining the security of systems relying on SGX for tamper-proof operations 😱

Releases

Morpheus released of an updated Morpheus-Lumerin Compute Node, featuring improvements in user interface, documentation, node configuration, and software updates for Windows builds.

Atoma Network, a project addressing trust in AI through decentralized verifiable inference, has released its whitepaper.

Mizu, a project driving community-built AI datasets, has released a telegram bot for data mining. In return, you will receive points, which we assume will convert to tokens in Q4 when their TGE is scheduled.

Nous Research announced the release of Hermes Function Calling V1, a new open dataset designed to enhance AI models' tool use and structured output capabilities. This is the same data set used to train their Hermes 2 Pro.

Fundraising

Space and Time raised $20 million in a Series A funding round, bringing total funding to $50 million. SxT is building a decentralized data warehouse that provides fast SQL querying of onchain and offchain data for smart contracts.

Edge Matrix Chain, a decentralized computing network, has raised $20 million in a round led by Amber Group and Polygon Ventures.

Adot, an AI-enabled search engine, raised an undisclosed amount for its strategic round lead by Aptos.

Alpha on X

Brody rounds up this week’s news in the Bittensor ecosystem:

Gabriel breaks down all 45 Bittensor subnets and their functions:

Rarddd explains how AI agents could be the key to scaling decentralized stablecoin ecosystems:

Weekend Reading

For our DeAI enthusiasts

Must Reads

Grayscale released a comprehensive report on the intersection of crypto and AI, highlighting how decentralized AI could address centralization issues in the AI industry. The report outlines three main categories of crypto-AI projects: infrastructure layers, resource providers for AI development, and solutions to AI-related problems like deepfakes and model verification.

Delphi Digital has released part 3 of their crypto x AI series: DeAI III: Composable Compute (Middleware). For those who aren’t Delphi Pro subscribers, we highly recommend reading Part 1: The Tower and The Square which is available for free.

a16z released a report on the top 100 generative AI consumer apps. The report highlights the growing popularity of creative tools, with 52% of web-based apps focused on content generation or editing, and notes the rise of new competitors to ChatGPT in the AI assistant space. a16z has been investing heavily in AI both in traditional markets and in crypto.

Nous Research released a preliminary report on DisTrO, a new distributed training method for AI models. The technique dramatically reduces inter-GPU communication requirements, potentially enabling large-scale, decentralized training of language models over the internet and fostering more open, collaborative AI development.

Citrini Research released a report on the future of network infrastructure for AI, highlighting an impending massive connectivity build-out cycle for LLMs. Interestingly, this report coincided with Nous Research's DisTrO announcement, which claims to dramatically reduce bandwidth requirements for AI model training, potentially challenging Citrini's infrastructure expansion thesis.

Bagel Network shared a technical overview of Momentum-based Decentralized Natural Policy Gradient (MDNPG), a new approach for decentralized multi-agent reinforcement learning. This method aims to improve coordination among multiple AI agents in a scalable, decentralized manner, potentially advancing the development of more efficient and effective multi-agent AI systems.

Make Your Life Easier With AI

Cool AI tools that caught our eye this week

Cursor: The AI Code Editor

Ricky Robinett from Cloudflare shared a video demonstrating his 8-year-old daughter using Cursor AI to learn coding. In just 45 minutes, she managed to build a working chatbot.

“I don’t know how to code!” is no longer an excuse.

Check it out here.

Bland AI: Automate Phone Calls with AI

Bland AI, an AI phone call agent that mimics human conversation, emerged from stealth this week after announcing a $16 million series A.

The project’s tagline is “Still hiring humans?”, and after watching the demo, we’re pretty convinced this is going to rapidly replace call centre workers 😬

You can check it out (and even give it a call!) here.