Q2 earnings: AI sector enters flat spin as consumer disinterest in chatbots intensifies
Despite unbridled optimism and massive spending, generative AI is still a solution looking for a problem. Go to Source
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‘Magnificent seven’ stocks shed $2.6T in lead-up to busy earnings week
The world’s best-performing tech stocks have bled an average $125 billion market cap per day for the past 20 days while crypto market cap has risen 11%. Go to Source
TSMC becomes first Asian company to reach $1T as AI demand surges
The company is now worth more than Broadcom and closing in on Meta. Go to Source
Former Tesla, OpenAI exec founds ‘AI native’ education startup Eureka Labs
The startup aims to create virtual teaching assistants using generative AI. Go to Source
From Microstrategy to Gamestop — Backed Introduces 5 New Tokenized Equities
Backed, a firm specializing in real-world asset (RWA) tokenization, has launched five new tokenized equities. The newly introduced tokens represent stocks of prominent companies, offering non-U.S. investors exposure to these assets via blockchain technology. RWA Firm Backed Launches 5 Tokenized Stocks Backed‘s new tokenized equities include bMSFT (Microsoft), bGME (Gamestop), bMSTR (Microstrategy), bTSLA (Tesla), and … Read more
Tony Blair Institute says AI is good for UK because ChatGPT said so
According to the researchers, automation will save the U.K. billions starting almost immediately but outside analysts aren’t so sure. Go to Source
Over 50% of US hedge funds have exposure to Bitcoin as BTC crushes stocks in 2024
Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin. Go to Source
Bitcoin uses more renewable energy, but will Tesla accept it again?
Tesla removed Bitcoin payments citing environmental concerns, but Elon Musk pledged to reinstate them if renewable energy use on the network increased. Go to Source
Tesla investors sue Elon Musk for diverting resources, talent to xAI
Shareholders accused Tesla boss Elon Musk of “brazen disloyalty” with his xAI startup that created “billions in AI-related value at a company other than Tesla.” Go to Source
Bitcoin vs. Buffett: BTC holders’ 104% CAGR dwarfs ‘steady growth’ portfolio
Since its trading debut in 2011, Bitcoin has delivered an impressive average annual return of approximately 104%, surpassing the returns of Warren Buffett’s portfolio and U.S. stock markets. Go to Source