Microsoft announces custom AI chip that could compete with Nvidia
- Microsoft is introducing its first chip for AI, along with an Arm-based chip for general-purpose computing jobs. - Both will come to Microsoft’s Azure cloud, Microsoft said at its Ignite conference in Seattle. -mThe Graviton Arm chip that cloud leader Amazon Web Services introduced five years ago has gained broad adoption. Source: CNBC, Stocktwits
Pershing Square (Bill Ackman) discloses updated portfolio positions in 13F filing
Increased positions $GOOGL (to ~4.35 mln shares from ~2.19 mln shares), $HLT (to ~10.31 mln from ~9.33 mln), $HHH (~16.8 mln shares, from ~16.6 mln) Maintained positions in: $QSR (~23.35 mln shares), $CP (~15.1 mln shares), $GOOG (~9.38 mln shares), $CMG (~0.95 mln shares) Decreased positions in: $LOW (to ~7.07 mln shares from ~7.47 mln shares) Source: Ripster
No buyers left? hedge fund net exposure to magnificent 7 was 12% at the start of the year. It is now 99%...
Source: Goldman Sachs, www.zerohedge.com
There are few assets that can provide meaningful diversification benefit in a portfolio, particularly from a real return / purchasing power standpoint
In an environment where stocks and bonds are so highly correlated, notable to see the low correlation across commodities - Source: Bob Elliott.
Property foreclosure filings have been increasing recently
This is the result of high interest rates resulting in rising mortgage defaults. Source: Game of Trades
Apple cash warchest put into perspective
by Linas Beliūnas
President Joe Biden and China’s President Xi Jinping have their first in-person meeting in about a year
This is the first time since 2017 that Xi has stepped foot on American soil. Although the US-China relationship is breaking, experts and U.S. officials caution not to expect markedly improved relations post-meeting. Mrs Yellen might be rather in favor of some kind of cooperation... Source image: Michel A.Arouet
In case you missed it: Tuesday's rally was not driven solely by the Magnificent 7
Russell 2000 index of small-cap stocks soared a staggering 5.4%, as investors bet the Fed is done raising rates and could be cutting interest rates much sooner than expected. Source: HolgerZ, Bloomberg
