The current earnings season has largely been a rough one for cloud software providers.
Source: Win Smart, Factset
Software stocks got hammered yesterday.
iShares Tech Software Sector ETF finished -5.8% (biggest daily drop since the pandemic w/Salesforce DOWN 20% (worst session in ~20 years), UiPath -35%, Okta -6%, Mongo DB -24%. Source: Bloomberg, HolgerZ
Chinese BYD launches plug-in hybrids with a 2100 km driving range
Source: WSJ
The cost of training the ChatGPT-5 model could range from $1.7 to $2.5 billion, according to HSBC.
This is 17.5 times more expensive than ChatGPT-4 and nearly 400 times more expensive than ChatGPT-3. Only a few can afford such a race in expenses, so the leadership in AI technologies will remain with the current market technology leaders. Source: Vlad Bastion Research, HSBC
Is this sustainable? Nvidia results tonight might give us a clue...
Source: Mac10
Meanwhile in China...
What if China starts doing to US "tech champions" what China did to US Rust Belt "industrial champions", US unions, & the US working class 2001-10? Source: Bloomberg / Luke Gromen
The number of public companies has fallen fast
https://lnkd.in/d3w7QajA Source: Barry Ritholtz, Chartr
Fund flows: there is tech and the beaten rest...
Source: Michel A.Arouet
