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Today β€” 25 July 2024Yahoo! Finance: Google News

Nvidia Stock Falls Again. Why AI Fears Are Spooking Markets.

25 July 2024 at 09:26
Nvidia stock looked set to dip again on Thursday as the fear that the artificial intelligence trade could be about to fizzle out continued to weigh on the chip maker. Alphabet beat Wall Street’s profit and revenue goals for the quarter ended June 30, but poured more money than expected into AI and cloud computing as it bids to fend off threats to its core search business. β€œAI has been such a driver of expectations and has led to an extraordinary surge in revenue forΒ NvidiaΒ as the hyperscalers like Google, Amazon and Microsoft cloud units race to build capacity,” Steve Clayton, head of equity funds for the U.K.-based financial services company Hargreaves Lansdown, said after Alphabet posted earnings.

Rich People Are Like the Rest of Us. When Their Stocks Fall, They Lose Money.

25 July 2024 at 07:30
The broader market tumbled, hurt by quarterly reports from big tech companies Tesla and Google’s parent, Alphabet while LVMH β€”often cited as one of Europe’s answers to the Magnificent Seven U.S. big tech stocksβ€”similarly delivered downbeat results. Meanwhile LVMH, the first European company to reach a $500 billion valuation, and a frequent contender for the continent’s most valuable company, saw its sales miss the mark. In both cases, the earnings reports did little to comfort investors already concerned that the shares were lagging behind the broader market over the past year.

Big Tech forecasts, China's luxury consumers: Market Domination

24 July 2024 at 22:28
Market Domination hosts Julie Hyman and Josh Lipton guide investors through the final trading hour of Wednesday, July 24, as US equity markets (^DJI, ^IXIC, ^GSPC) react to earnings out from Alphabet (GOOG, GOOGL) and Tesla (TSLA) and anticipate more results from Big Tech. Citi head of US equity strategy Scott Chronert comes on the program to talk about the role Magnificent Seven tech stocks will have in the ongoing market rotation. Former Chairman of LVMH North America Pauline Brown discusses the consumer pullback from China that is hitting luxury retail brands, including the likes of LVMH (MC.PA, LVMUY) and Burberry (BRBY.L). Other top trending stock tickers on the Yahoo Finance platform include Enphase Energy (ENPH), Ulta Beauty (ULTA), and Lamb Weston Holdings (LW). This post was written by Luke Carberry Mogan.

Bing previews its answer to Google's AI Overviews

24 July 2024 at 22:17
Microsoft this afternoon previewed its answer to Google's AI-powered search experiences: Bing generative search. Available for only a "small percentage" of users at the moment, Bing generative search, underpinned by a combo of large and small generative AI models (mum's the word on which models exactly), aggregates info from around the web and generates a summary in response to search queries. For example, if a user searches "What is a spaghetti western?" Bing generative search will show informa
Yesterday β€” 24 July 2024Yahoo! Finance: Google News

Tesla investing in xAI 'makes sense,' analyst outlines

24 July 2024 at 22:00
Lackluster earnings results from Tesla (TSLA) and Alphabet (GOOG, GOOGL) sent markets under pressure in Wednesday's trading session. Deepwater Asset Management managing partner Doug Clinton joins Market Domination to discuss both companies and their trajectories. Tesla may be investing $5 billion in xAI, CEO Elon Musk's artificial intelligence startup. Clinton believes that the move "makes sense," adding: "What sets xAI apart as a large language model competitor is their ability to think about the physical world from all the things that Elon does at SpaceX, at Tesla. So I think there's synergies there that could be interesting." He believes that the technology being developed at xAI could really benefit Tesla, and the EV company could invest even more to get more value down the road. On the Google front, Clinton says, "we're sticking with it even though it's been volatile today." While some investors were worried about the tech giant's capital expenditures (CapEx), Clinton explains that he's not concerned. He believes that its investments in AI are worth it, explaining that if a tech company walks away from the technology, "everyone else continues and they get it right." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl
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