The Iran war could upend AI. Here’s how.
It isn’t just oil that’s at risk in an extended war. Key chip-making ingredients like helium and bromine come from the Middle East—as does an increasing amount of AI funding. Source
Tag: tech stocks
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Wall Street ends narrowly mixed, trading volatile after air strikes on Iran
* Tech and defense stocks offset broader market losses * Airline and cruise stocks take a hit * BlackRock-led consortium to acquire AES Corp for $33.4 billion (Updates to US market close) By Sabrina Valle and Pranav Kashyap March 2 (Reuters) – US stocks ended close to flat on Monday after a volatile session that…
Quote of the Day by Warren Buffett: ‘We let a genie out of the bottle when we developed nuclear weapons. AI is…’
“We let a genie out of the bottle when we developed nuclear weapons. AI is somewhat similar — it’s part way out of the bottle.” —Warren Buffett The world is rapidly changing at an unprecedented pace ever since artificial intelligence got deployed in the mainstream space as AI chatbots like ChatGPT and Gemini gained popularity….
Infosys shares slide over 20% in February, set for worst monthly drop in 13 years amid AI concerns
Shares of Infosys, the country’s second-largest software maker, are on track to post their worst monthly performance in over a decade amid investor concerns over disruptions linked to artificial intelligence. The sell-off is not limited to Infosys; other tech majors have also seen their stocks melt heavily on exchanges, erasing billions from their market value….
Citrini Scare Marked the Bottom, Says Fund Betting on Bounce
(Bloomberg) — Sydney-based hedge fund GCQ Funds Management said the bottom is in for the software selloff, snapping up about A$200 million ($143 million) worth of tech stocks caught in the downdraft. The fund sold some of its top-performing stocks, including European luxury goods companies, to invest in beaten-down software stocks. In recent weeks, it…
Infosys share price slides 27% from 1-year high. Here’s how much domestic funds have lost
Infosys share price remained lower for the fourth straight session on Monday, February 16, closing with a modest decline of 0.26% at ₹1,365.90 apiece, taking its four-day cumulative losses to 9%. The recent fall has driven Infosys share price 17% lower in February so far, marking its biggest monthly drop since April 2022, and has…
IT Stocks Crash: Shares of IT companies including Infosys, TCS fell by 7 percent – why such a huge fall? – market
All the shares of the index closed in the red. Infosys shares fell the most by 7.5 percent, making it the top loser of the day. Shares of sector giant Tata Consultancy Services declined by about 6 percent. At the same time, shares of HCL Technologies fell by 5.5 percent. Shares of Wipro and Tech…
US stock futures point to flat start for Wall Street after Anthropic AI-led tech selloff
US stock futures edged higher on Wednesday, signaling a flat-to-slightly positive start to trade on Wall Street, a day after a sharp tech-led sell-off dragged software and mega-cap stocks lower. Dow Jones Futures traded 0.33% higher at 49,512, while S&P 500 futures were trading higher at 6,962.75, up 0.31%, indicating that the US stock market…
This earnings season is still all about AI. That won’t last.
The bank sees collective S&P 500 profits for the three months ending in December rising by around 7% from 2024 levels. That is modestly shy of the 8.8% growth rate collated by LSEG, but BofA notes that upward revisions to fourth-quarter forecasts on Wall Street could see companies topping expectations and delivering an overall growth…
‘The Big Short’ fame investor Michael Burry remains bearish on AI, has put options against this major US tech stock
Famed investor Michael Burry, the hedge fund manager who predicted and profited from the US housing sector collapse during the 2008 financial crisis, has drawn attention over recent months for his firm bear position on artificial intelligence (AI) led technology stocks, including market darling Nvidia. Now, Burry has revealed his latest move — betting against…
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