Sunday, July 28, 2024, Amazon Web Services Data Center in Stoneridge, Virginia, USA.
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This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
fall from height
U.S. stocks were mostly lower on Wednesday. this S&P 500 Index Down 0.19% Dow Jones Industrial Average It fell 0.7% after hitting a record high earlier in the session. this Nasdaq Index Closed near the horizontal line. The Stoxx 600 Index in Europe fell 0.11%. Investors focus on Stoxx Europe 600 Bank Index fell 0.73% UniCredit Bank potential merger Commerzbank.
Google and Microsoft
Google An antitrust complaint was filed with the European Commission, the EU’s executive arm, on Wednesday Microsoft’s The practice of cloud computing industry. Google accuses Microsoft of using unfair licensing contracts to “lock in” customers and control the cloud market.
Completes sale of Nvidia
NVIDIA CEO Jen-Hsun Huang has now completed the sale of company stock. In March of this year, Huang Jensen formulated a plan to sell up to 6 million Nvidia shares by the first quarter of 2025. early. Additionally, manufacturers like Nvidia may face a global shortage of AI chips as demand increases, according to a Bain & Company report.
Turn VR into reality
Yuan Another step towards making virtual reality a part of our daily lives. The company’s Reality Labs division announced its latest VR headset, the Quest 3S, which will be available on October 15 starting at $299.
(PRO) It’s time to buy
That little green bird—— Duolingo The sign – it looks a little annoying when it reminds you to practice Japanese for the hundredth time, but analysts are interested in it. Stocks like Duolingo Hewlett Packard Enterprise and Robloxone of the names on Wall Street banks’ “buy” lists.
bottom line
The release of ChatGPT by OpenAI in 2022 triggered the initial craze for generative artificial intelligence. Billions of dollars invested in OpenAI.
Although OpenAI, the company behind ChatGPT, is not publicly listed, several companies have benefited greatly from the generative AI craze it sparked.
(Speaking of OpenAI, the company’s CTO Mira Murati announced Wednesday that she is leaving the company. OpenAI also plans to reorganize into a for-profit business.)
NVIDIA It is the first beneficiary of the artificial intelligence era. The company’s stock price soared in 2023, a year after ChatGPT was released, when it became clear that the semiconductor company’s chips were the brains behind the chatbot.
Then big tech companies jumped on the bandwagon. Microsoft, Yuan and Google parent letter Released its own version of chatbots and AI-infused tools. These characteristics have helped push the stock price higher, although it’s certainly difficult to attribute the stock’s movements to a single cause.
AI tailwinds appear to be starting to drive a third wave of AI-related companies forward.
If the chip is the brain of artificial intelligence, then the data center is the body of artificial intelligence. Hewlett Packard Enterprise The company’s shares rose more than 5% after Barclays upgraded the company on strong demand for artificial intelligence data centers. Recall that Oracle’s surge this year has been driven largely by the company’s artificial intelligence cloud services powered by its data centers.
The next ones to be affected by artificial intelligence appear to be energy companies.
Oracle’s Founder Larry Ellison said a new data center the company is designing “will rely on three modular nuclear reactors.”
view Corp shares of Texas-based power company Corp rose nearly 6% on expectations it will use one of its nuclear power plants to power an artificial intelligence data center. Likewise, Constellation Energy Shares rose about 22% on Friday after the company announced plans to restart nuclear power plants and sell power to Microsoft.
That said: The waves of artificial intelligence will continue to ripple through the oceans for some time. Big tech or semiconductors are lucrative catches, but a wider net could bring other prizes.
– CNBC’s Kif Leswing, Jonathan Vanian, Jordan Novet, Brian Evans and Jesse Pound contributed to this article.
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