Nvidia stock, $NVDA, is now down 7.5% as President Biden restricts AI chip sales to China
The stock has erased nearly $100 billion in value in just over 24 hours. Is it the the beginning of a new trade war with China? Source: The Kobeissi Letter
Through FY24 to FY27, Nvidia $NVDA is projected to generate a total of $342B in revenue
That forecasted total is more than double Nvidia’s lifetime revenues of $160.3B through the end of FY23. Source: Beth Kindig
Microsoft $MSFT is devoting more than 13% of CAPEX to artificial intelligence, the highest amount out of the world’s top cloud service providers
Baidu $BIDU follows with nearly 10%, while Google $GOOG and Meta $META are putting between 6-7% of CAPEX to AI. Source: FT
A $90 BILLION VALUATION FOR OPENAI?
OpenAI is in discussions to possibly sell shares in a move that would boost the company’s valuation from $29 billion to somewhere between $80 billion and $90 billion, according to a Wall Street Journal report citing people familiar with the talks. Employees would be allowed to sell their existing shares rather than the company issuing new ones, the Wall Street Journal said. In April, OpenAI picked up just over $300 million in funding from backers such as Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global at a valuation of $29 billion. That was separate to a big investment from Microsoft announced earlier this year, which closed in January. The size of Microsoft’s investment was believed to be around $10 billion. Source: Techcrunch
$AMZN Amazon to invest up to $4B in AI startup Anthropic
💰 Largest investment ever for AWS. 🔎 Google previously invested $300M. 🤖 Anthropic's Claude LLM-based chatbots rivals OpenAI's ChatGPT. The generativeAI battle is heating up. Source: App Economy Insights
A tale of 2 markets: S&P 500 "big AI" stocks 12-month forward P/Es vs. S&P 500 "ex-big AI" stocks 12-month forward P/Es
Source: TME, Macrobond
McKinsey annual State of artificial intelligence survey is here, and the results confirm 2023 is all about generative AI:
by McKinsey & co
Nvidia Insider Trading Alert 🚨
Nvidia CEO Jensen Huang dumped another $27 million worth of $NVDA shares. He has now sold almost $100 million worth of shares over the last week. Source: Barchart
