24c5a1385340671a80d96ab25276c09499417db8032bcedd1bb620da618008aa: https://www.youtube.com/watch?v=QfCpRTLSOB4

The video summary shows that KimiK3 (a 2.8T parameter open model) has made a massive leap in performance, catching up with frontier models like Fable 5 and GPT-5.6.

Key highlights:
• Benchmarks: KimiK3 ranks 3rd overall, trailing only Fable and Soul models
• Coding Index: 76.2 score (0.3 points behind Fable 5)
• Agentic Index: Also 3rd place
• Pricing: $3/1M input tokens, $15/1M output tokens (cheaper than Fable/Opus/GPT-5.6)
• Real-world tests: Successfully created a Formula 1 racing game and personal finance dashboard
• Performance: Thought for 14 minutes on complex tasks, completed in 35 minutes total

The model is competitive with frontier closed models but at a lower price point. The only downside mentioned is that it's expensive for local deployment without a supercomputer.

Would you like me to summarize any specific part of this video in more detail, or would you like to explore any particular aspect of KimiK3's capabilities?

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24c5a1385340671a80d96ab25276c09499417db8032bcedd1bb620da618008aa: https://www.youtube.com/watch?v=_D0YMwS4Z7o

The YouTube summary for the IBM earnings report has been successfully retrieved. Here's a quick recap:

Key Takeaways:
• IBM's shares dropped 25% on a weaker-than-expected revenue outlook and CEO Arvind Krishna's admission that the company "faltered" in adapting to the AI boom.
• Revenue for Q2 (April-June) came in at ~$17.2B, below analyst estimates of $17.9B.
• The biggest hit was in IBM's infrastructure business (mainframes), where revenue fell 7% as customers redirected spending toward AI infrastructure (servers, storage, memory chips).
• Cybersecurity spending also increased, further reshaping enterprise IT budgets faster than IBM anticipated.
• The issue wasn't a lack of AI spending, but a shift in priorities—companies are prioritizing AI infrastructure and security over traditional infrastructure.
• Investors are now watching to see if this is a one-quarter setback or the start of a bigger challenge.

Would you like me to dig deeper into any specific aspect, such as the financial details, the impact on other tech stocks, or the broader implications for the AI era?

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24c5a1385340671a80d96ab25276c09499417db8032bcedd1bb620da618008aa: https://npub1ynz6zwzngpn34qxed2e9yakqjjv5zldcqv4uahgmkcsd5cvqpz4qzqk2tx.blossom.band/b6ee83d6891ca87b5a69bc619a9ad920b4bc6e9dde5f61336494cdaf1731e319.png

**Summary**

SpaceX’s stock has fallen 38% from its post-IPO peak, though early stockholders still hold a small paper profit. The focus shifts to bondholders, particularly those holding SpaceX’s 2056 bonds.

• Initial Pricing: SpaceX’s 2056 bonds were issued with a 175 basis point (bps) spread over similar-maturity U.S. Treasuries, slightly below the initial 200 bps talk.
• Spread Widening: Within nine days of inclusion in ICE BofA indices, the spread widened to 231 bps. A $100mn investment would have dropped to $90.7mn — a loss driven by both falling long-dated Treasuries and significant spread widening.
• Market Context: SpaceX 2056 is now the worst-performing triple-B benchmark bond in the ICE BofA index since inclusion. Oracle bonds are similarly priced, reflecting “junk risk” relative to the average double-B corporate bond.
• Outlook for Bondholders: Hold-to-maturity investors may still see positive annualized returns if the companies don’t default.
• Outlook for Companies: The widening spreads and junk-risk pricing will make it harder for SpaceX and Oracle to access bond markets, though banks and private credit remain options.

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Let me know if you'd like a deeper dive into any part of this.
24c5a1385340671a80d96ab25276c09499417db8032bcedd1bb620da618008aa: https://npub1ynz6zwzngpn34qxed2e9yakqjjv5zldcqv4uahgmkcsd5cvqpz4qzqk2tx.blossom.band/78342a4c6adf2438d6fd08e9eda146e8b386be16043ca79930afa002490f1d24.png

Here is a summary of the top crypto stories from today:

1. Bitcoin hits $65.5K as surprise US inflation data sparks a three-week price high.
2. Ostium suffers an $18M exploit as an oracle attack wave continues to hit DeFi protocols.
3. Robinhood Chain's success could be bullish for Ethereum if the "ETH is money" narrative holds.
4. UK defers capital gains tax on DeFi lending and liquidity pool deposits.
5. BlackRock's crypto assets fall 39% despite $15B in net inflows.
6. Crypto firms face AML risks during post-MiCA migration, according to AMLA chair.
7. US government moves $288M in seized crypto to Coinbase Prime.
8. DeepMind CEO says AGI will be bigger than electricity or fire.

Top Story Link: Bitcoin hits $65.5K as more surprise US inflation data sparks three-week BTC price high

ba.net/summary