🧬 AI-Designed Shapeshifting Proteins, 💻 Japan's EUV Lithography Leap, and 🧪 Traumagel's Bleeding Breakthrough
🧬 AI-Designed Shapeshifting Proteins, 💻 Japan's EUV Lithography Leap, and 🧪 Traumagel's Bleeding Breakthrough
Thomas's Innovation Wrap #91
Greetings,
Here’s your weekly wrap of technology, innovation, and finance news.
🔬 Biology
Dr David Baker's team at the University of Washington has developed AI-designed proteins that change shape on command (see the paper). These proteins contain hinges that allow structural changes when exposed to specific molecules, offering new possibilities in biotechnology.
It’s a “startling advance for the field,” wrote Dr. A. Joshua Wand at Texas A&M University, who was not involved in the work.
Researchers at Western University researchers have discovered a protein with unprecedented DNA damage prevention abilities. Found in the radiation-resistant bacterium Deinococcus radiodurans, this protein, DdrC, acts like a molecular superhero, neutralising DNA damage and signalling for repairs.
"It's as if you had a player in the NFL who plays every game without a helmet or pads," says Szabla, a grad student in Western's Department of Biochemistry. "He'd end up with a concussion and multiple broken bones every single game, but then miraculously make a full recovery overnight in time for practice the next day."
The implications range from potential cancer vaccines to crops withstanding harsh conditions. When added to E. coli, DdrC made the bacteria 40 times more resistant to UV radiation damage.
He says that, in theory, this gene could be introduced into any organism—plants, animals, humans—and it should increase the DNA repair efficiency of that organism's cells.
💊 Health
Australian researchers have shown that AI can select IVF embryos as effectively as senior embryologists but ten times faster, potentially reducing treatment costs and time.
"We're going to continue using artificial intelligence in many different areas of the laboratory over time, including sperm selection and embryo selection and ranking. However, at this point, by no means is it going to replace our embryologists," Dr Mangat said.
In cancer research, Memorial Sloan Kettering and Absci have partnered to discover novel cancer therapies using AI, aiming for clinical trials as early as next year.
A groundbreaking brain-computer interface has restored speech to an ALS patient, allowing 45-year-old Casey Harrell to communicate with his young daughter for the first time in years.
In infectious disease news, the WHO's declaration of a global health emergency due to a new mpox variant has sent shares of Danish vaccine manufacturer Bavarian Nordic soaring by 48% over the week. The company makes the world’s only vaccine.
The FDA has cleared Traumagel, a gel-based therapy that rapidly stops severe bleeding from traumatic injuries. This algae-derived gel could be a game-changer in emergency medical situations and on battlefields.
Traumagel is different from currently available treatment methods like gauze and tourniquets because the gel doesn't require pressure to work, and its effects happen within seconds, unlike other methods that can take several minutes to kick in, Joe Landolina, CEO of Cresilon, told Forbes.
💎 Artificial Intelligence
Elon Musk's xAI has released Grok-2, featuring improved reasoning and image generation on X. It also features a lack of guardrails that has led to users pushing the bounds of copyright in ways other AI generators typically block.
A Knowledge@Wharton article draws parallels between the AI and mobile revolutions, suggesting lessons from the mobile era could guide AI adoption.
"This technological revolution is unstoppable. This revolution will create phenomenal wealth. The price of many kinds of labor (which drives the costs of goods and services) will fall toward zero once sufficiently powerful AI joins the workforce."
Walmart's CEO reported impressive AI-driven productivity gains, improving 850 million catalogue data points with significantly less staff than traditional methods.
"We've used multiple LLMs to accurately create or improve over 850,000,000 pieces of data in the catalog. Without the use of generative AI, this work would have required nearly 100X the current headcount to complete in the same amount of time"
In biotech, Xaira Therapeutics is leveraging AI for drug discovery, tackling "undruggable" targets with a recent $1 billion raise.
AI startup Exists has unveiled a platform enabling users to create 3D games from text prompts.
Bloomberg profiled Worldcoin in this 14-minute video. The Sam Altman-founded startup aims to revolutionise identity verification in the age of AI by scanning irises to create unique digital IDs. Last month, Fast Company wrote that the startup is looking like a dud.
If you allow Worldcoin to scan your iris, two things happen. You get a small chunk of the Worldcoin cryptocurrency, and you're certified as a real living human.
💻 Chips and Computing
Huawei's Ascend 910C is set to challenge NVIDIA's H100 when it launches in October. Major Chinese tech firms have already placed initial orders worth $2 billion. This could be a significant development for China’s AI ambitions, potentially allowing Chinese tech firms to reduce their reliance on embargoed NVIDIA technology.
DIGITIMES Research predicts 217% annual growth for cloud server GPUs in 2024, with high-end cloud GPUs and ASIC accelerators projected to grow at 44% and 52% CAGR, respectively, from 2023 to 2028.
Japanese researchers have developed a new EUV lithography technology that could significantly reduce costs and energy consumption in semiconductor manufacturing. It could also potentially disrupt ASML’s monopoly in the EUV market.
OIST's breakthrough centers on its simplified optical system, which has dramatically reduced the number of mirrors needed to direct EUV light.
ON Semiconductor's $2 billion investment in Roznov pod Radhostem is set to transform the sleepy Czech town into a key player in Europe's semiconductor industry.
Also, ARM is developing consumer gaming GPUs, while Samsung is investing in XR chip development to rival Apple's Vision Pro.
Capital Brief wrote a profile on Morse Micro, an Australian semiconductor startup that I'm an early investor in.
🛰️ Space
Jeff Bezos unveiled Blue Origin's colossal New Glenn rocket, designed for up to 100 reusable flights (see the 1h12m tour video).
Steve Wozniak's Privateer aims to be the "Uber of space data".
In April 2024, Privateer announced the purchase of Palo Alto-based space startup Orbital Insight, which had previously raised $218 million from investors including Google Ventures and Sequoia. The acquisition expanded the range of data and software Privateer has in its armory, enabling the company to combine different sources, such as images and radar, to analyze everything from sub-sea to Earth orbit.
Scientists have detected a massive underground ocean on Mars using NASA's InSight Lander data.
AST SpaceMobile's stock surged over 50% after confirming its first commercial satellite launch.
PCB manufacturer Compeq reported booming LEO satellite orders, signalling a thriving space tech industry.
Compeq Manufacturing is one of the Taiwan-based PCB manufacturers aiming to prioritize low Earth orbit (LEO) satellite and AI server applications in 2024. Compeq, which has a long history in the LEO sector, posted a July revenue of NTT$6.73 billion (US$207.3 million), an increase of 26.3% sequentially and 11.5% year-on-year, signifying the beginning of peak season.
A NASA astronaut captured a stunning aurora borealis time-lapse from the ISS during a recent "severe" G4 level solar storm (1m48s video).
SpaceX is set to launch the first crewed polar orbit mission. The Fram2 mission will send four space rookies on a 3-5 day journey to study auroras and capture the first X-ray image of a human in space.
⚙️ Mobility
Nikola is now finding success with its hydrogen-powered semi trucks.
It’s got nearly double the usable hauling range of a battery-powered semi and, critically, refueling takes about 20 minutes or so versus hours of plug-in time.
Korean researchers have re-invented the wheel, taking inspiration from water surface tension. This shape-shifting technology could improve mobility for wheelchairs and robots on uneven terrain.
Chinese autonomous vehicle company WeRide has received approval for passenger-carrying tests in California, marking a significant milestone ahead of its upcoming IPO.
🤖 Robotics
Caresyntax has raised $180 million to develop the "Android of robotic surgery".
In the operating room, Caresyntax deploys IoT and edge computing solutions to create a unified data stream. This approach enables real-time analysis and post-surgery insights. The company’s solutions are present in over 7,000 operating rooms and are used by more than 40,000 surgical teams globally.
Brinc, a drone startup founded by 24-year-old Blake Resnick, is partnering with ground radar specialist Echodyne to help emergency services obtain FAA permission for flights beyond visual line of sight (BVLOS). This could significantly extend the range and effectiveness of drone first responders, potentially saving lives in emergency situations.
Brinc currently provides irs specialized drones to over 500 U.S. public safety agencies, and more than 10 percent of the nation's SWAT teams, which use them for emergency response, evolving crimes, and hostage situations.
📱 Mobile Devices
Epic Games has launched its own iOS app store in the EU, enabled by the EU's Digital Markets Act. The new app store offers a maximum 12% commission rate compared to Apple's 30%. However, installing the Epic Games Store on mobile is complex, requiring up to 15 steps on iOS and 12 on Android. Despite these hurdles, Epic aims for 100 million new installs by end-2024. The store launches with Fortnite, Rocket League Sideswipe, and Fall Guys Mobile, offering promotional rewards for early adopters.
"The European example shows that this kind of regulation can have teeth and can succeed," Sweeney said, adding that this can be a template for other regulators.
Google's Made by Google 2024 event showcased a range of new products and AI integrations, with Gemini AI taking centre stage across their lineup (see the 1h20m Keynote). The event featured live demonstrations of Gemini's capabilities, including email generation from voice prompts. Google Pixel Watch 3 added a “loss of pulse detection” feature.
Apple is expanding NFC capabilities on iPhones, allowing third-party developers to create apps for contactless transactions beyond just Apple Pay.
🌞 Renewables
Wind and solar power generation is overtaking coal in the US this year. These clean energy sources have already edged past coal through July, accounting for 16% of US power generation.
"I think it is an important milestone," said Ric O'Connell, who leads GridLab, a clean electricity consulting firm. "I think you're seeing a solar surge and a coal decline and hence the lines are crossing."
As renewables grow, virtual power plants (VPPs) address grid challenges. Origin Energy's VPP in Australia has reached 1.385 gigawatts, rivalling a coal plant by aggregating solar panels, batteries, and smart appliances.
“We would have the largest VPP, I think, in Australia, certainly on a residential basis, even perhaps globally on a residential basis,” Mr Lucas said, adding that it had 390,000 customer devices connected, compared with about 170,000 for the virtual power plant operated by UK retailer Octopus Energy, in which Origin has a 23 per cent stake.
💲 Finance
SoftBank and several Asian conglomerates are joining a new $130 million fund focused on making quick, sizable investments in AI startups. The fund aims to facilitate collaborations between established companies and AI startups, potentially leading to larger investments or acquisitions.
🤩 Advertising
Meta is rolling out new features to improve ad attribution and targeting.
Reddit traffic has nearly tripled between August 2023 and April 2024, thanks to Google's “Helpful Content Update,” leading to more publishers advertising on the platform.
“No matter where you are in digital, Reddit is the elephant in the room right now,” Finser said. “According to Ahrefs and Semrush, Reddit increased its organic traffic sevenfold in the last nine months. That’s big, exponential growth on an already big number.”
📚 Regulation
The US Department of Justice is considering dismantling Alphabet following a court ruling that found it monopolised the online search market. Potential divestments include Android, Chrome, and AdWords. The DOJ is also exploring less drastic measures, such as forced data sharing with competitors and AI development restrictions.
⚡ Other Snippets
E Ink Holdings, the leader in e-paper, is improving colour displays and expanding into e-paper billboards.
CrowdStrike's President Michael Sentonas accepted the "Most Epic Fail" award at DEF CON's Pwnie Awards. The cybersecurity company earned this dubious honour after accidentally bricking millions of Windows devices with a faulty update. Sentonas chose to face the music head-on:
"Definitely not the award to be proud of receiving," he told the audience. "We got this horribly wrong... And it's super important to own it."
Have a great week,
Thomas
About Thomas Rice
Thomas Rice co-founded Minotaur Capital, a technology-driven, AI-led global equities fund, and is based in Sydney, Australia. He can be found on the X at @thomasrice_au.