Observe. Think. Chat. Do. Trade. Repeat…
This agreement reportedly grants the institute access to significant new AI models from each company before and after their public release.
Recently, several AI developers and researchers have voiced concerns regarding safety and ethics within the growing profit-driven AI industry.
Sustainable Metal Cloud has announced that its immersion cooling technology is 28% less expensive to install compared to other liquid-based cooling methods and can cut energy use by up to 50%.
The surge in artificial intelligence has increased the need for more robust processors and the energy to cool data centres.
This presents an opportunity for Sustainable Metal Cloud, which runs ‘sustainable AI factories’ consisting of HyperCubes located in Singapore and Australia.
These HyperCubes house servers equipped with Nvidia processors immersed in a synthetic oil known as polyalphaolefin, which is more effective at dissipating heat than air. The company claims this technology can reduce energy consumption by as much as 50% when compared to the conventional air-cooling systems found in most data centres.
Additionally, the Singapore-based company states that its immersion cooling technology is more cost-effective to install by 28% than other liquid cooling options. The HyperCubes are modular and can be integrated into any data centre, utilising spaces that are currently unoccupied within existing facilities.
The P/E ratio of the market is a common measure of valuation. Currently, the P/E ratio is significantly higher than historical averages, indicating that stocks are priced much higher relative to their earnings.
When stock prices rise rapidly without a corresponding increase in earnings, it often signals overvaluation. This has been observed recently, especially with some of the major tech stocks.
The current market valuations are almost as high as they were at the peak in January 2022, which was followed by a significant correction.
Metrics like the Buffett Indicator (market capitalisation to GDP ratio) and Tobin’s Q (market value of assets divided by replacement cost) also suggest that the market is overvalued.
While these indicators point towards overvaluation, it’s important to note that markets can remain overvalued for extended periods, and other factors like strong earnings growth can sustain high valuations for some time
The U.S. stock market, according to some analysts suggests that the current market appears to be overvalued by around 68%.
By comparison, at the peak of the Dot-com bubble, on 24th March 2000, the market was 89.5% overvalued. When the market bottomed out 2.5 years later, it had dropped around 50% from its previous all-time high and was undervalued by nearly 21%.
The fact that the market currently appears overvalued does not necessarily mean it will correct any time soon. The forces pulling the market toward the long-run equilibrium are relatively weak and allow the market to stay over or undervalued for extended periods of time.
From 1954 to 1970, the market stayed continuously overvalued for over some 15 years, and from 1973 until 1987, it stayed undervalued for about 14 years.
The analysis clearly suggests that U.S. stocks are overvalued – but that doesn’t necessarily mean a downturn any time soon – but it will, in time, adjust.
The discovery of the 2,492-carat diamond marks the world’s second-largest find, over a century since the unearthing of the 3,106-carat diamond in South Africa in 1905.
It was found in a Botswana mine owned by Canadian firm Lucara Diamond.
The 2,492-carat diamond is the world’s second-largest discovery and comes more than a century after a 3,106-carat gem was found in South Africa in 1905. That stone, known as the Cullinan Diamond, was cut into nine large pieces, many of which were incorporated into the British Crown Jewels.
Lucara reported that the diamond was unearthed at the Karowe Diamond Mine in northeastern Botswana, utilizing X-ray technology.
The mining company has not disclosed a value for the newly found stone.
The discussions were reportedly described as professional, pragmatic, candid, and constructive.
The agreement includes measures for both countries to collaborate on capital markets, cross-border payments, and monetary policy. Representatives from various financial institutions and regulatory bodies from both nations participated in the meeting.
This cooperation aims to enhance financial stability and address potential financial risks more effectively. It’s a significant step towards fostering economic collaboration between the two largest economies in the world.
See full report here
The constellation, named “Thousand Sails,” comprises over 15,000 satellites in low-Earth orbit that are anticipated to provide worldwide internet coverage.
China plans to have 648 satellites in orbit by 2025 as part of the first phase of the constellation’s deployment, aiming to establish a global internet network, as reported by state media CCTV.
The satellite system will be in direct competition with Elon Musk’s Starlink.
Protection against market downturns
Gold is viewed as a safe-haven asset. In times of market crashes or economic instability, investors tend to turn to gold to protect their savings and investments. For example, during the financial crisis of 2008, the price of gold soared by more than 100%, contrasting sharply with the losses experienced by other assets.
Inflation hedge
As inflation increases, the purchasing power of the dollar diminishes. During periods of high inflation, gold often appreciates, offering a potential return for investors.
Diversification
Diversifying an investment portfolio across various assets can help in minimizing losses. Gold, which usually has a low correlation with stocks and bonds, can bolster diversification and diminish overall risk.
No income generation
In contrast to stocks, which distribute dividends, or bonds, which accrue interest and can appreciate (or depreciate) in value, gold does not produce income. It’s worth is dependent entirely on its appreciation in price.
Additional costs
Owning and storing physical gold involves various expenses. These include transportation costs, storage fees, and insurance, especially if the gold is kept at home.
Physical gold
You can buy gold bars or coins. Owning physical gold provides tangible ownership and is a classic tried and tested way to invest.
Gold Mining Stocks
Investing in shares of gold mining companies can be a strategic move, as these stocks are impacted by gold prices and the operational performance of the mines.
Gold Exchange-Traded Funds (ETFs)
ETFs track the price of gold. They’re an efficient way to invest without holding physical gold.
Gold mutual funds
These funds aggregate investors’ capital to invest in assets related to gold.
Options and futures contracts
For more advanced investors, trading gold options and futures can provide exposure to price movements.
Gold can be a valuable addition to your investment strategy, especially for long-term goals. Consider your risk tolerance, financial objectives, and the role gold plays in diversifying your portfolio. Remember that while gold has held its value over time, it’s not a guaranteed path to wealth. As with any investment, thorough research and a well-thought-out approach are essential.
Remember: always, always do your research…
Recent studies indicate that Mercury’s mantle is composed not of graphene, as was previously believed, but of diamond. The extreme pressure at the boundary between the mantle and core is thought to have facilitated the formation of diamond.
Mercury’s surface is peppered with dark-coloured graphite patches, a form of carbon that has intrigued scientists for many years.
Researchers believe that in Mercury’s early history, it had a carbon-rich magma ocean. As the ocean of magma rose to the surface, it formed the graphite patches that are visible today.
The company has announced plans to eventually incorporate the tool, presently in testing with a select user group, into its ChatGPT chatbot.
The introduction of ChatGPT could have significant implications for Google’s search engine dominance. Since ChatGPT’s debut in November 2022, there has been growing concern among Alphabet’s investors that OpenAI may capture a portion of Google’s market share by offering consumers innovative methods to obtain information on the internet.
OpenAI’s ChatGPT was incorporated into Microsoft’s search engine Bing as Copilot and the companies have kept market dominance with this shrewd AI move. Google, on the other hand, has struggled to keep up in the AI race and may now be suffering the effects.
This announcement could have implications for Microsoft’s Copilot as well.
Official figures from the ONS show that the total government debt amounted to 99.5% of the economy’s value in June 2024, surpassing the peak levels experienced during the coronavirus pandemic.
The current debt level is comparable to that last observed in the early 1960’s.
It is then expected to gradually decline to 10.2 billion by 2100, which is 6% lower than anticipated a decade ago.
The UN in 2022 had reportedly estimated the world population would peak at 10.4 billion by the 2080’s.
See full report here.
$315 trillion or $315,000,000,000,000 is a daunting number, it’s massive. In 2024, the global GDP reached just $109.5 trillion, just over a third of the global debt figure.
To provide some perspective, with the world population at roughly 8.1 billion, if the debt were distributed evenly, each person would shoulder about $39,000 in debt.
As global debt reaches unprecedented levels, concerns naturally arise about its implications and origins.
Global debt includes borrowings by households, businesses, and governments.
Household debt, which many are familiar with, comprises mortgages, credit cards, and student loans. At the beginning of 2024, it stood at $59.1 trillion.
Corporate debt, utilized by businesses for operations and growth, reached $164.5 trillion, with the financial sector contributing $70.4 trillion.
Government debt, on the other hand, finances public services and projects without raising taxes. It can be obtained from other nations or institutions like the World Bank and the IMF, or through bond sales, which are essentially promises to pay with interest from the state to investors.
Public debt was reported to be $91.4 trillion. While often perceived negatively, debt can be advantageous, supporting individuals in education and homeownership, aiding business expansion, and providing governments with means for economic development, social expenditures, or crisis management.
Historical evidence shows that public debt has been around for at least 2000 years, mainly for establishing settlements and financing wars, with governments accruing significant debts from conflicts such as the Napoleonic Wars.
Debt engulfs us all and is here to stay, but at what cost to society?
And who do we owe?
The surge in artificial intelligence (AI) has significantly increased the demand for data centres, essential for the ‘exploding’ tech sector. This necessity has led Europe to consider spatial alternatives for digital storage, aiming to diminish reliance on energy-intensive ground facilities.
The Advanced Space Cloud for European Net zero emission and Data sovereignty (ASCEND), a 16-month study investigating the viability of deploying data centres in orbit, has reportedly reached a ‘very encouraging‘ conclusion, according to the report.
The ASCEND study, coordinated by Thales Alenia Space for the European Commission and valued at 2 million euros ($2.1 million), asserts the technical, economic, and environmental viability of space-based data centres.
“The idea [is] to take off part of the energy demand for data centres and to send them in space in order to benefit from infinite energy, which is solar energy,” according to a spokesperson for ASCEND.
Data centres are crucial for advancing digitalization; however, they demand substantial electricity and water to operate and cool their servers. The total global electricity consumption from data centres could reach more than 1,000 terrawatt-hours in 2026 – that’s roughly equivalent to the electricity consumption of Japan, as reported by the International Energy Agency.
The ASCEND study is not alone in exploring the potential of orbital data centres. Microsoft, which has already trialed the use of a subsea data centre – positioned 117 feet deep on the seafloor, is collaborating with companies such as Loft Orbital to explore the challenges in executing AI and computing in space.
Warren Buffett wisely cautions against investing in businesses that are not well understood. It is crucial to have a deep understanding of the company, its market sector, the broader industry, and its financial stability before committing to an investment.
Take time to research whether it be a company, fund, unit trust or savings account. Make sure you understand what you are doing. Not understanding the investment is a massive failing.
Love the company, but resist falling in love with it. An emotional attachment to a specific stock can obscure your judgement. Keep in mind that investing should be a process of making rational decisions based on data, not on personal emotions.
Successful investing demands patience. Don’t anticipate immediate results; give your investments the necessary time to mature. Resist the urge to frequently check the markets and make hasty uninformed decisions.
Excessive trading, known as churning, can result in significant transaction fees and tax consequences. It is advisable to adopt a long-term investment strategy and minimize superfluous trades.
Consistently timing the market is a difficult task. Instead, the emphasis should be on the duration of market involvement. Steady contributions and maintaining investments yield benefits in the long-term.
Clinging to underperforming investments with the hope of just breaking even can be harmful. It’s crucial to assess each investment on its own merits and be prepared to take losses when needed. Run the winners!
Investing all your funds in a single stock or asset class heightens the risk. Mitigate this by diversifying your investments across various asset types, industries, sectors and regions.
Fear and greed often result in unwise decisions. It’s crucial to remain disciplined, adhere to your investment plan, and resist the urge to make hasty decisions driven by emotions.
Always maintain honesty with yourself when investing. Do not persuade yourself of anything other than the FACTS regarding your investment choices!
Keep in mind that investing is a journey where learning from mistakes is an integral part of the experience. By steering clear of these common pitfalls, you’ll set yourself up for greater long-term success.
Spread out your investments. Diversify. Aim for the long term. Remove emotion. Let the winners run. And doe your RESEARCH!
It is indeed amazing and absolutely true – when the medusa (adult jellyfish) or Turritopsis Dohrnii comes to the end of its life, it descends to the ocean’s depths and commences decomposition – it starts to decay but remarkably, its cells then reassemble, not into another medusa, but into polyps.
From these polyps, new jellyfish are born. In essence, the jellyfish reverts to a previous stage of its life cycle, thus beginning life anew.
This extraordinary capability has led to it becoming known as the “immortal jellyfish.”
Size: Approximately 7,600 feet long
Distance from Earth: It will pass by Earth at a distance of more than four million miles (over 17 times further than our moon).
Visibility: Visible with small telescopes through Sunday, appearing brightest on Friday.
Size: Between 400 and 850 feet long
Distance from Earth: It will fly significantly closer, passing at about three quarters the distance to the moon.
Visibility: Best view from Hawaii or South America, but also visible from the southern United States.
The Sahm Rule is a real-time evaluation tool based on monthly unemployment data from the Bureau of Labor Statistics (BLS). Named after economist Claudia Sahm, it forecasts the onset of a recession when the three-month moving average of the national unemployment rate (U3) increases by 0.50% or more compared to its lowest point in the preceding 12 months.
This simple yet effective indicator helps policymakers monitor economic cycles and respond accordingly
Sahm has reportedly stated that the Fed is taking a significant risk by not implementing gradual rate cuts now. Last week, Federal Reserve officials significantly reduced their forecasts for rate cuts this year, shifting from three anticipated reductions noted in the March 2024 meeting to just one.
According to the creator of a well-established rule for predicting recessions, the Federal Reserve is risking an economic contraction by not lowering interest rates immediately.
Claude has joined the ranks of widely used chatbots such as OpenAI’s ChatGPT and Google’s Gemini. Founded by former OpenAI research leaders, Anthropic has secured backing from major tech entities like Google, Salesforce, and Amazon. Over the past year, the company has completed numerous funding rounds, reportedly amassing approximately $7.3 billion.
The announcement comes after Anthropic introduced its Claude 3 series of models in March, followed by OpenAI’s GPT-4o in May 2024. Anthropic has stated that Claude 3.5 Sonnet, the initial model from the new Claude 3.5 series, surpasses the speed of its predecessor, Claude 3 Opus.
“It shows marked improvement in grasping nuance, humour, and complex instructions, and is exceptional at writing high-quality content with a natural, relatable tone,” the company said in a blog post.
It can also write, edit and execute code in a real time workspace open for the user to engage.
The Technology Select Sector SPDR Fund (XLK), which will rebalance soon, is guided by an index that will adjust based on the market cap value at Friday’s close. According SPDR Americas Research, the recalibration will reportedly position Microsoft as the leading stock, followed by Nvidia, and then Apple.
Without caps, each of the three stocks would exceed a 20% weight in the index. However, the index’s diversification rules restrict the total weight that stocks constituting at least a 5% share of the fund can hold.
Beginning in 2030, Mastercard will eliminate the need for Europeans to manually enter their card numbers during online checkout, regardless of the platform or device used.
The familiar 16-digit card number will be substituted with a randomly generated ‘token.’ This change will enable consumers to complete payments with a single click at the checkout page, authenticated by a thumbprint.
Mastercard reported that 100% tokenization across e-commerce sites will reduce fraud rates dramatically.
The way we pay for products and services online will feel very different in the coming years.
During the 2024 annual shareholder meeting in Austin, Texas, Musk, who reportedly identifies as ‘pathologically optimistic,’ declared that Tesla is not just entering a ‘new chapter,‘ but is on the brink of beginning an entirely ‘new book,’ with Optimus poised to play a pivotal role.
Tesla initially revealed its intention to develop humanoid robots at the AI Day event in 2021, showcasing a performer in a unitard as a stand-in for a sleek, gender-neutral robot prototype.
At the shareholder meeting, Musk was reserved about Optimus’ present capabilities. He suggested that, in the future, these robots could operate in a manner akin to Star Wars’ R2-D2 and C-3PO, undertaking tasks such as cooking, cleaning, factory work, or even teaching children.
In terms of shareholder value, Musk speculated that Optimus might play a key role in boosting Tesla’s market capitalization to $25 trillion eventually. No time scale was put forward.
And, don’t forget about the development of the robot taxi and of the fully autonomous vehicle.
Rare Earths Norway (REN) has announced the discovery of the largest deposit of rare earth elements in Europe at the Fen Carbonatite Complex in southeastern Norway.
The deposit reportedly contains 8.8 million metric tons of total rare earth oxides (TREOs), including an estimated 1.5 million metric tons of magnet-related rare earths, which are vital for technologies like electric vehicles and wind turbines.
This discovery marks a significant advancement in Europe’s efforts to decrease its reliance on imported rare earths, especially from China.
The discovery in Arctic Sweden of over one million tonnes of rare earth metals could significantly aid the EU in reducing its reliance on China for these crucial elements, which are essential for a wide range of high-tech applications.
These findings are critical for the green transition and Europe’s goal of increased self-sufficiency in vital raw materials. It is crucial to acknowledge, however, that the extraction process is intricate and necessitates meticulous attention to environmental impacts.
Due to the required permitting processes and environmental assessments, it could take over a decade for the materials from these discoveries to enter the market.
The Fen Complex, located in Nome, Telemark, Norway, is renowned for its unique assortment of igneous rocks, such as carbonatite. It represents the remnants of a volcanic feeder pipe from a volcano that erupted 580 million years ago, characterised by carbonate-rich magma. The volcanic pipe’s circular formation spans roughly 2 km in diameter.
According to the World Gold Council, the gold mining sector is finding it increasingly difficult to maintain production growth as the reserves of this precious metal become scarcer.
Discovering new gold deposits is becoming increasingly challenging as many potential areas have already been scouted, leaving limited unexplored territories. Large-scale gold mining requires extensive exploration and development, often spanning 10 to 20 years before a mine becomes operational.
Approximately 10% of global gold discoveries produce enough metal for mining operations. The success rates for exploration are quite low, and the chances of a discovery advancing to the stage of mine development are minimal.
Despite record first-quarter mine production in 2024, the overall trend is concerning. Since around 2016-2018, global gold production has plateaued, with no sustained growth.
In 2023, mine production increased by a mere 0.5% compared to the previous year. The growth rates have steadily declined over the past decade.
Globally, around 187,000 metric tons of gold have been extracted. China, South Africa, and Australia are at the forefront of production. The United States Geological Survey estimates that there are approximately 57,000 tonnes of minable gold reserves remaining.
The process of obtaining government permits has grown increasingly difficult, with bureaucratic procedures causing delays in mining operations. Additionally, remote mining projects necessitate infrastructure such as roads, power, and water, which adds to the costs and complexity.
In summary, the glittering seams of gold are thinning. Miners grapple with scarcity, regulatory hurdles, and the diminishing promise of new discoveries.
As we dig deeper, the quest for gold becomes a delicate balance between ambition and reality.
“Diamonds don’t really fit in anymore despite the strong legacy of De Beers under Anglo,” independent diamond industry analyst Paul Zimnisky reportedly said.
According to Zimnisky’s rough diamond index, diamond prices have decreased by 5.7% this year, marking a decline of over 30% from their peak in 2022.
Lab-grown diamonds, potentially up to 85% less expensive than natural ones, are created in a controlled environment using high pressure and heat to mimic the formation of natural diamonds in the Earth’s mantle.
Sales of lab-grown diamonds have increased from a mere 2% of the global diamond jewellery market in 2017 to 18.4% in 2023, as reported by Zimnisky.
A fall in marriage rates as well as growing popularity for gold and lab-grown gems all drove down Chinese demand for diamonds, according to market research firm Daxue Consulting.
The lifting of pandemic restrictions has led consumers to redirect their spending towards travel experiences rather than diamond products.
The preference for lab-grown diamonds plays a critical role in driving down prices of natural diamonds.
This announcement coincides with the recent launches of new artificial intelligence chips by rivals Nvidia and AMD on Sunday and Monday 2nd and 3rd June 2024 – as they compete for dominance in the rapidly growing industry.
Intel is making efforts to catch up with Nvidia and AMD, having been relatively absent from the AI surge that led tech giants such as Meta, Microsoft, and Google to purchase a significant number of Nvidia chips.
This comes half a year after Intel’s release of its 5th Gen Intel Xeon processors for data centre workloads and a couple of months following the announcement of the Gaudi 3 processor for AI model training and deployment.
Intel also disclosed that the Gaudi 2 and Gaudi 3 AI accelerators are priced lower than those of its competitors.
Furthermore, Intel shared architectural details of its forthcoming Lunar Lake processors, aimed at expanding the AI PC category. These processors, slated for release in the third quarter, are set to rival Nvidia’s and AMD’s offerings tailored for AI PCs.
While Nvidia and AMD focus on chip design, Intel stands out by both designing and manufacturing its chips. Nevertheless, Intel’s foundry business has faced challenges, with its operating loss widening to $7 billion in 2023 compared to the previous year.
The firm asserts that this new AI technology will allow customers to not only monitor but also automatically address issues affecting network quality.
Describing itself as the ‘Google Maps’ of the internet, Cisco ThousandEyes offers a comprehensive, end-to-end perspective of every user and application across all networks.
Established 15 years prior, the company has been heavily investing in AI technology in recent years.
ThousandEyes is now implementing significant AI-centric modifications to its platform, which are designed to enhance its clients’ oversight of network quality and robustness.