ONE PIECE OF NEWS

📈Can Nvidia sustain the AI stock rally?

Nvidia will release its earnings report today. While the general health of the economy is questionable, the stocks of AI-related companies have soared since January. Nvidia shares have tripled in 2023, and 13% of this year's S&P 500's 14% gain is estimated to come from AI-related companies, making artificial intelligence the major market driver this year.

Nvidia's stocks hit an all-time high yesterday in anticipation of today's earnings report, but it remains to be seen whether the report can satisfy investors' expectations. The company’s May forecast sent its stock soaring 24%; this time, however, investors won’t be caught off-guard.

If Nvidia fails to impress, it might trigger a wider sell-off. Later this week, Fed Chairman Jerome Powell is expected to speak at the central bank’s annual conference, and chances are the Fed intends to hold rates around current levels or even raise them further, potentially cooling the AI-fueled stock market.

ONE IDEA

Social norms will change: Just had an email exchange with someone where they had a note at the end of their (very good) email that it was 80% AI generated.

So I let my custom instruction version of GPT-4 reply and noted at the end that it was 100% AI, but I approved the message.

- Ethan Mollick on X.

⌚ If you have one more minute:

• ElevenLab's AI voice-generating technology is expanding to 30 languages

• Meta releases an AI model that can transcribe and translate close to 100 languages

• Solar AI wants to make solar power more accessible in Southeast Asia

AI Art of the day 🎨

The Lizard King by Midjourney user u/braneworld.

🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄🌊🏄

That’s it folks!

If you liked it please share it with a friend and make this writer happy that ChatGPT didn’t replace him yet!

Or, did it?