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Mag Seven to Lag Seven: When ‘One Decision’ Stocks Stumble
The Wall Street Journal64d agobearish
Mag Seven to Lag Seven: When ‘One Decision’ Stocks Stumble

​📈 Follow our live markets data and coverage. Wharton School finance professor Jeremy Siegel, a cheerleader for staying invested as the 1990s bull market bubbled higher, made a surprising argument at the time. The boom-and-bust Nifty Fifty stocks of the early 1970s, long trotted out as a cautionary tale of falling in love with one group, weren’t so bad.

As AI Companies Race for Power, Amazon and Google Have the Lead
The Wall Street Journal64d agoneutral
As AI Companies Race for Power, Amazon and Google Have the Lead

Amazon’s chief executive has said that power is the “single biggest constraint” in its cloud and artificial-intelligence business. Here, Amazon has an incumbent advantage. It is the world’s largest cloud provider and has been building a lot of data centers over the past two decades.

Nvidia pours cold water on AI fears
TheStreet64d agoneutral
Nvidia pours cold water on AI fears

Every technology boom eventually gets a villain the public can picture. For the railroads, it was land grabs. For artificial intelligence (AI), it became a data center quietly drinking a town's water while a chatbot wrote someone's emails. That picture is not imaginary. Massive computing warehouses ...

Bloomberg64d agoneutral
Micron Earnings Take on New Gravity With Market on Edge Over AI

(Bloomberg) -- Micron Technology Inc.’s earnings report on Wednesday afternoon is shaping up to be one of the most important in months as investors find themselves suddenly on edge over the sustainability of the AI rally.Most Read from BloombergStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some Roles‘FOMO Really Got Me’: Taiwanese Go Deep Into Debt to Amp 100% Stock RallySpaceX Falls for Third Day, Erases $600 Billion in Marke

Bloomberg64d agoneutral
ByteDance Seeks $20 Billion in Its Largest-Ever Offshore Loan

(Bloomberg) -- ByteDance Ltd., the developer of TikTok, is in preliminary talks with banks for a borrowing of about $20 billion, people familiar with the matter said, in what would be the firm’s largest offshore loan yet at a time when it’s boosting investments in artificial intelligence.Most Read from BloombergStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some Roles‘FOMO Really Got Me’: Taiwanese Go Deep Into Debt to Amp 100%

Amazon Prime Day gives Wall Street a $22B reason to take notice
TheStreet64d agoneutral
Amazon Prime Day gives Wall Street a $22B reason to take notice

Amazon’s next major retail test arrives with more riding on it than discounted headphones, Kindles, and grocery deals. The company’s 12th annual Prime Day runs from June 23 to June 26, providing Prime members a 96-hour shopping event that is coming a little earlier than normal on the retail ...

Alphabet, Google's Parent, Is Joining the Dow
The Wall Street Journal64d agoneutral
Alphabet, Google's Parent, Is Joining the Dow

Google parent Alphabet will be added to the Dow Jones Industrial Average beginning Monday, the index’s operator, S&P Global, said Tuesday. The company represents the fifth of the so-called Magnificent Seven growth stocks to enter the price-weighted index, which has historically been less vulnerable to tech swings than the Nasdaq Composite Index or the S&P 500. “Adding Alphabet will broaden and strengthen the DJIA’s exposure to these dynamic areas of the U.S. economy,” S&P said in a written statement.

Billionaire Hedge Fund Manager: AI Could Produce the First $10 Trillion Company as We Enter the “Intelligence Age”
24/7 Wall St.64d agoneutral
Billionaire Hedge Fund Manager: AI Could Produce the First $10 Trillion Company as We Enter the “Intelligence Age”

Philippe Laffont, billionaire founder and portfolio manager of Coatue Management, framed artificial intelligence as the defining economic shift of the coming decades and predicted that the first $10 trillion company is on the horizon. Laffont argues AI is the “Intelligence Age,” following the Industrial Age that ran a couple hundred years and the Information Age ... Billionaire Hedge Fund Manager: AI Could Produce the First $10 Trillion Company as We Enter the “Intelligence Age”

Worried About Amazon’s AI Bill? What If It’s Already Paid For?
Trefis64d agoneutral
Worried About Amazon’s AI Bill? What If It’s Already Paid For?

If you follow Amazon.com (AMZN) stock, you’ve heard the main worry. The company is spending a fortune to build out its artificial intelligence infrastructure, and with the stock having trailed the index over the past year, investors are clearly nervous about the size of the bill. The price appears to give little credit for this investment, with a trailing price-to-earnings multiple of 27.5, toward the low end of its 10-year range.

GameStop CEO Cohen spurns $35 billion pay plan to focus on eBay deal
Reuters64d agobullish
GameStop CEO Cohen spurns $35 billion pay plan to focus on eBay deal

Ryan Cohen, the billionaire CEO of GameStop, will not receive a potential performance award from ‌the videogame retailer and plans to unveil more details ‌about his bid to takeover eBay soon, the company said on Tuesday. GameStop unveiled ​a compensation package worth roughly $35 billion for Cohen in January, hinging on a turnaround that requires him to lift the struggling company's market value more than tenfold and sharply boost its profit. EBay ‌rejected a $56 billion takeover ⁠bid from the much smaller GameStop in May, citing financing doubts and calling the proposal "neither credible ⁠nor attractive."

Bill Ackman just showed what’s inside his $5B fund
TheStreet64d agoneutral
Bill Ackman just showed what’s inside his $5B fund

Retail investors have spent decades watching Bill Ackman make concentrated bets from the outside, The Motley Fool noted, piecing together his moves through quarterly filings that arrive months after the trades close. That dynamic changed when Pershing Square USA (PSUS) began trading on the New York ...