Good morning. It's Thursday, July 10, and we're covering flash floods in New Mexico, the firing of Formula 1 executive Christian Horner, and much more. First time reading? Join over 4.5 million intellectually curious readers. Sign up here.
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At least three people have died after historic flash flooding in the mountain town of Ruidoso, southern New Mexico. Two and a half inches of rainfall triggered a runoff in the Rio Ruidoso river Tuesday, causing waters to rise roughly 20 feet—the highest spike since 1978. At one river gauge, waters rose 19 feet in less than an hour. Vehicles and at least one entire home were swept away (see video). At least 85 people were rescued.
Wildfires last year near the river—including the South Fork and Salt fires—may have contributed to the flooding. Fires reduce the vegetation and roots holding soil in place; they can cause the soil to become unstable and more susceptible to flash floods. The floods this week come amid the North American monsoon season, impacting the US Southwest from July to early- or mid-September.
Separately, the death toll from central Texas floods has risen to 120 people. Over 170 people are believed to be missing. See live updates here. |
Chipmaking giant Nvidia became the first company to surpass $4T in market value yesterday. Shares rose 2.8% after opening to reach an intraday all-time high of $164 each, powered by growing investment in artificial intelligence.
Nvidia was founded in 1993 with a focus on developing graphics processing units, primarily for the video game market. Unlike central processing units in a typical computer, GPUs are built to parallel process specific tasks (see more, w/video).
With tech giants like Microsoft, Amazon, and Alphabet reliant on Nvidia’s high-powered chips to power their AI systems, the company’s valuation has skyrocketed in recent years—from under $600B valuation two years ago to the world’s most valuable company today. The California-based company commands close to 90% of the semiconductor market, far outpacing competitors like Advanced Micro Devices and Cerebras Systems.
Learn more about Nvidia from 1440 Topics here. See the AI boom in graphs here. |
Red Bull Racing fired Christian Horner yesterday as team principal and CEO. Horner, who has led the decorated Formula 1 team since its 2005 debut, will be replaced by Laurent Mekies, the principal of sister team Racing Bulls (see F1 overview here).
Red Bull provided no reason for the ouster, but it comes over a year after Horner was accused of inappropriate behavior toward a female colleague, including sending sexually suggestive messages. He denied and was later cleared internally of the allegations, but the scandal created strain, with star racer Max Verstappen’s father openly criticizing Horner. His firing follows the exits of key leaders like car designer Adrian Newey and a disappointing midseason standing. Typically a top-three team, Red Bull currently sits in fourth place.
While F1 remains most popular in Europe, its US fan base has grown 10% since last year. The league, worth over $25B, largely credits the rise to investments in US-based races and media, including a Netflix docuseries and feature film starring Brad Pitt. |
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In partnership with Miso Robotics |
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Elon Musk: 'Robots Will … Do Everything Better' |
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And it’s already happening.
Just look at fast food. Miso Robotics is already delivering an AI-powered fry-cooking robot that can cook perfectly 24/7. With the restaurant industry desperately grappling with 144% turnover rates and skyrocketing minimum wages, it’s no surprise major brands like White Castle and Jack in the Box are turning to Miso. Now, after selling out the first run of their first fully commercial robot in one week, Miso’s scaling production to 100,000+ US fast food locations in need. In fact, with new manufacturing happening now, they’re currently finalizing their latest major brand partnership and other significant announcements.
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Sports, Entertainment, & Culture |
> President Donald Trump to attend Sunday's FIFA Club World Cup final between Chelsea and Paris Saint-Germain (More) | Brazil national soccer coach Carlo Ancelotti gets one-year prison sentence in Spain for failure to pay taxes (More) |
> “Ne Zha 2,” Chinese animated film that made $2.2B at global box office, sets Aug. 22 release date for English-language version, which will include Michelle Yeoh as part of the voice cast (More) |
> Max officially reverts its name back to HBO Max just two years after initial switch (More) | "Big Bang Theory" spinoff series confirmed for HBO Max (More) |
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> Researchers isolate the oldest proteins ever analyzed, recovered from the enamel of an extinct rhino species at least 18 million years old (More) |
> New study estimates 27 million tons of nanoplastics—plastic particles smaller than the width of spider silk—exist in the North Atlantic Ocean; results raise concerns over the penetration of such particles into marine food chains (More) |
> Significant weight loss triggers mechanisms in cells to begin recycling harmful lipids and the removal of senescent, or no longer dividing, cells; study is the most detailed to date on how weight loss impacts fat tissue (More) |
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In partnership with Pendulum |
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> US stock markets close up (S&P 500 +0.6%, Dow +0.5%, Nasdaq +1.0%) (More) | President Donald Trump sends letters detailing new import tariffs to at least seven more countries (More) | Federal Reserve's meeting minutes from June show officials divided over tariff-driven inflation and number of interest rate cuts (More) |
> X CEO Linda Yaccarino steps down after over two years in the role; shake-up comes after Elon Musk merged X with Grok chatbot maker xAI in March (More) | Retailers log $7.9B in online sales in first 24 hours of Amazon's four-day Prime Day event, up 9.9% year over year (More) |
> Pharmaceutical giant Merck to buy UK-based Verona Pharma for roughly $10B; acquisition is Merck's largest since its nearly $11B purchase of Prometheus Biosciences in 2023 (More) |
Mortgages: Today's 1440 Business & Finance newsletter explores how most Americans finance their home purchase. Email comes out at 8:30 am ET—sign up here to receive! |
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> US Justice Department sues the California Department of Education for allowing transgender athletes to compete in school sports; alleges the state is violating antidiscrimination laws (More) | President Donald Trump hosts five African leaders through Friday, with a focus on the continent's economic potential (More) |
> The US resumes sending some weapons to Ukraine after pausing deliveries earlier this month (More) | Russia launches record attack on Ukraine, per Ukrainian officials (More) | European Court of Human Rights rules Russia violated international humanitarian law in Ukraine, shot down Malaysia Airlines Flight 17 in 2014 (More) |
> French police raid the headquarters of the far-right National Rally party as part of a probe into whether the party broke campaign finance laws (More) | Seoul repatriates six North Koreans who accidentally drifted into South Korean waters, the first such return under South Korean President Lee Jae-myung (More) |
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> How Smell Guides Our Inner World
Quanta | Yasemin Saplakoglu. How our sense of smell intricately links odor molecules to memory, emotion, and brain function, reshaping our understanding of the way scent influences our inner universe. (Read)
> The Origins of Magic Words
Storied | Staff. The history of famous magic words like "abracadabra," "hocus-pocus," and "open sesame" highlights the evolution of such phrases from ancient languages, religious rituals, and early magical traditions. (Watch) |
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In partnership with Miso Robotics |
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What Do Nvidia and Amazon Have In Common? |
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