Bitwise Asset Management, a prominent player in the cryptocurrency investment space, has recently made headlines with its filing for a spot XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This move marks a significant milestone as it is the first attempt to create an ETF specificallyRead More →
Meta, the parent company of Instagram, has announced that voices of Dame Judi Dench and John Cena will be available as options for its AI chatbot. Moreover, users can access information through AI representations of celebrities such as Awkwafina, Keegan-Michael Key, and Kristen Bell. Meta is hopeful that this newRead More →
Tesla posted its third-quarter vehicle production and deliveries report on Wednesday 2nd October 2024 – the stock fell 3.7%. Total deliveries Q3 2024: 462,890 – Total production Q3 2024: 469,796 Analysts had projected Tesla would deliver 463,310 vehicles by the end of September 2024. However, other sources indicated a larger shortfall; the averageRead More →
Chinese firms are reportedly intensifying their efforts to develop a competitive alternative to Nvidia’s AI chips, as part of Beijing’s ongoing initiative to reduce its reliance on U.S. technology. China faces several challenges that are impeding its technological progress, including U.S. export restrictions that limit domestic semiconductor production. The lackRead More →
Cryptocurrencies fell on Tuesday evening 1st October 2024, with Bitcoin retreating to the $60,000 level following an unstable beginning to what is typically one of its best performing months. Shares associated with digital currencies also fell in after-hours trading. Crypto exchange Coinbase saw a decline of about 1%, and MicroStrategyRead More →
Shares of many Chinese property stocks listed in Hong Kong soared to their highest levels in more than a year, propelled by the ongoing stimulus rally in China The real estate sector emerged as the top performer in the Hang Seng Index on Wednesday 2nd October 2024. Chinese stocks experiencedRead More →
Freetrade acquires Stake’s UK customer base, increasing domestic presence amid intense competition with similar apps such as Robinhood The British retail investment platform Freetrade is set to acquire the UK customer base of its Australian competitor Stake, highlighting the growing competition in the UK’s digital investment sector. The acquisition, initiallyRead More →
The retail investment platform Robinhood has announced the introduction of cryptocurrency transfers in and out of its app for European customers As part of its international expansion efforts, the company aims to enhance its product offerings in the region. According to a blog post-dated Tuesday 1st October 2024, Robinhood willRead More →
Chinese stocks continued to rise following state media reports that China’s top leaders have endorsed the government’s recent measures to bolster their economy. The CSI 300 index in Mainland China continued its rally for a seventh consecutive day, reaching its highest point in about four months, subsequent to a meetingRead More →
In a substantial effort to strengthen the infrastructure required for artificial intelligence (AI), BlackRock and Microsoft have unveiled a significant fundraising endeavour. The initiative, dubbed the Global AI Infrastructure Investment Partnership (GAIIP), seeks to secure $30 billion in private equity capital, with the possibility of leveraging up to $100 billionRead More →
Gold prices have soared to unprecedented levels, reaching a new all-time high of $2,585 per ounce This surge is driven by a mixture of economic and geopolitical factors that have heightened investor interest in the precious metal. One of the primary catalysts for this rise is the anticipation of aRead More →
Artificial Intelligence (AI) has become a pivotal battleground in the technological race between China and the United States. “AI is expected to become a crucial component of economic and military power in the near future,” Stanford University’s Artificial Intelligence Index Report 2023 stated. Both countries are significantly investing in AIRead More →
The Australian property listing company REA Group announced on Wednesday that its £5.6 billion ($7.32 billion) cash-and-stock bid to take over Rightmove, Britain’s largest real estate portal, was rejected. REA Group, which is 62% owned by Rupert Murdoch’s News Corp, reportedly did not provide a reason for Rightmove’s refusal ofRead More →
Qualcomm has introduced the Snapdragon X Plus 8-core processor, intensifying its venture into the AI PC market and challenging competitors like Intel and AMD The U.S. semiconductor powerhouse announced that the Snapdragon X Plus 8-core targets PCs priced from $700, aiming to broaden its chip reach to additional devices. Moreover,Read More →
The British luxury fashion house Burberry Group was relegated from the U.K.’s FTSE 100 on Wednesday 4th August 2024, amid declining sales and management upheavals, all adding to the challenges of the 168-year-old retailer This demotion represents a new setback for Burberry, with its share price having plummeted over 53%Read More →
Nvidia $279 billion market cap wipeout — the biggest in U.S. history for just ONE company On Tuesday 3rd September 2024, around $279 billion of value was wiped off of Nvidia. That was the biggest one-day market capitalisation drop for a U.S. stock in HISTORY! Nvidia one-day chart closed 108Read More →
In August 2024, Chinese electric car behemoth BYD set a new sales record for passenger vehicles, with hybrid models outpacing battery-only vehicles in growth. Zeekr, supported by Geely, experienced a rise in deliveries to 18,015 for August, although this was a decrease from the 20206 deliveries reported in June 2024.Read More →
Warren Buffett’s Berkshire Hathaway achieved a $1 trillion market capitalisation on Wednesday 28th August 2024, becoming the first non-technology company in the U.S. to reach this business accolade. The shares of the conglomerate, headquartered in Omaha, Nebraska, have surged over 28% in 2024, outperforming the S&P 500’s 18% increase. ThisRead More →
Nvidia has announced earnings surpassing Wall Street forecasts and has issued guidance for the current quarter that exceeds expectations. As the artificial intelligence boom continues, Nvidia remains a major beneficiary. Despite a stock price dip, after trading hours, the stock has risen approximately 150% this year. The question remains whetherRead More →
Nvidia investors have been on a rocket ride to the stars. But recently they have come back down to Earth, and it has become more of a roller coaster ride. Benefiting significantly from the artificial intelligence surge, Nvidia’s market cap has increased approximately ninefold since late 2022 – a massive marketRead More →
The Dow Jones Industrial Average (DJIA) reached a new record high on Monday 26th August 2024, closing at 41240. Investors have responded positively to the Federal Reserve’s recent indications that interest rate cuts are highly probable to commence in September 2024. Market dynamics and sentiment The rise of the DJIARead More →
OpenAI has partnered with the global magazine conglomerate Condé Nast to enable ChatGPT and its search engine, SearchGPT, to showcase content from renowned publications such as Vogue, The New Yorker and GQ. The agreement represents the most recent in a series of deals made by OpenAI with prominent media companies.Read More →
Highs and lows of one volatile week in the U.S. stock market U.S. stocks climbed on Monday 19th August 2024, continuing the market’s rebound as investors prepared for the highly anticipated Federal Reserve symposium at Jackson Hole later in the week. The S&P 500 ended the day at 5608 TheRead More →
The video game industry is experiencing sluggish growth in 2024 for several reasons Slow console sales Gaming console sales have not met expectations. For example, sales of Sony’s PlayStation 5 have decreased from 3.3 million units in the same period last year to 2.4 million units in the fiscal firstRead More →
Intel has divested its 1.18 million share stake in the British chip company Arm Holdings, according to a regulatory filing. Intel is undergoing significant restructuring and cost-cutting to address competitive challenges in the semiconductor industry. The recent transaction, disclosed on Tuesday 13th August 2024, is believed to have earned IntelRead More →
Japanese stocks led gains across Asia on Friday 16th August 2024, poised for their best week in four years, with the Nikkei 225 climbing over 3% following a Wall Street rally. The surge came as new economic data alleviated concerns of a U.S. recession. In the U.S., retail sales sawRead More →