Markets
The US market falling behind didn’t stop Europe and China from catching up. Empowered by the strides in AI, $HSI sharply rose again, by 3.27%. Europe also rose by more than a full percent. Meanwhile, $BTC continued descending, to below $85k mark. The first cabinet meeting was held, where Musk expressed confidence in reducing fiscal expenditure by 15%. $NVDA reported strong earnings, beating estimates.
Headlines
• Nvidia’s Bumper Sales Show AI Bonanza’s Strength
Sales rose 78% to $39b. Projects $43b, ahead of estimates of $42b.
• Salesforce sees annual results below estimates as Agentforce adoption lags
The slower adoption of its AI platform is deemed the reason.
• Trump says Zelenskyy to visit U.S. to sign critical rare minerals deal on Friday
• The Federal Reserve’s favorite recession indicator is flashing a danger sign again
US10Y is below US3M.
• Amazon unveils revamped Alexa with AI features for $19.99 per month, free for Prime members
Alexa is powered by generative Ai.
• S&P 500 ekes out gain on Wednesday, ending four-day run of losses: Live updates
In Trump’s first cabinet meeting he said tariffs against Mexico and Canada are underway.
• ‘Is Anyone Unhappy With Elon?’ Trump Defends Musk at First Cabinet Meeting
Musk stated his confidence in reducing the $7t annual fiscal expenditure down by $1t
• Iran Has Enough Highly Enriched Uranium for Six Nuclear Weapons
• Alibaba makes AI video generation model free to use globally
Alibaba is open sourcing that are a part of its Wan2.1 series.
