Thursday, 18 April, 2024
(Washington Post) — SAN FRANCISCO — Last June, Inflection AI was riding high. The artificial intelligence start-up founded by veterans of Google’s famous DeepMind AI lab had just raised $1.3 billion from Microsoft and tech billionaires Bill Gates, Reid Hoffman and Eric Schmidt to build out its chatbot business. But less than a year later, the tide has turned. Co-founders Mustafa Suleyman and Karén Simonyan have left Inflection AI for jobs at Microsoft, which also […] Read More
Thursday, 18 April, 2024
European Central Bank Governing Council member Francois Villeroy de Galhau told CNBC that “the question is the next Governing Council which will be early June … and here barring a major surprise we should cut rates because we are now confident enough and increasingly confident about the disinflationary path in the euro area.” The Bank of France governor also said that he’s open to further rate reductions at subsequent meetings, CNBC said. “There is now […] Read More
Friday, 12 April, 2024
No images? Click here AFR: Inflation shocks bond bandits The spike in US inflation has caught equity and debt investors napping. Christopher Joye, portfolio manager, Coolabah Capital Investments Over at the AFR I write that equity and fixed-income investors were shocked during the week by the release of the official US inflation data, which confirmed a massive re-acceleration in services (rather than goods) inflation in March, with the annualised trend now running at an […] Read More
Wednesday, 10 April, 2024
META’s MITA: *META DEBUTS NEW AI CHIP, AIMING TO DECREASE RELIANCE ON NVIDIA. META CHIP IS NEXT VERSION OF MITA PRODUCT UNVEILED LAST YEAR. Follows Intel & Google in launching their new AI chips. All of Nvidia’s biggest customers seem to be working to become their biggest competitors. And if CUDA is the moat, the UXL Foundation is the bridge being built to make Nvidia’s programmer/developer barrier to entry less of a hurdle. Read More
Wednesday, 10 April, 2024
Bloomberg Economics Return to Top ECB Spectrometer: A Guide to Doves and Hawks Niraj Shah Team: Economics BE Economist David Powell Team: Economics BE Economist 1. The Bloomberg Economics European Central Bank Spectrometer The European Central Bank isn’t ready to cut interest rates just yet. Bloomberg Economics expects the stars to align in June. Officials in northern European countries are staying cautious, concerned about elevated wage cost pressures. By contrast, colleagues from southern European nations […] Read More
Tuesday, 09 April, 2024
Musk believes AI could surpass the intelligence of any one human by the end of next year and be smarter than all humans within 5 years. However these advances rely on the supply of both the silicon and the electricity require to power and train the machines. “Last year it was chip-constrained, People could not get enough Nvidia chips. In a year or two electricity supply could be the issue”. The growing theme bullets on […] Read More
Monday, 08 April, 2024
Jamie Dimon Warns U.S. Might Face Interest-Rate Spike — WSJ By Alexander Saeedy (Wall Street Journal) — JPMorgan Chase Chief Executive Jamie Dimon warned that U.S. interest rates could soar to 8% or more in coming years, reflecting the risk that record-high deficit spending and geopolitical stress will complicate the fight against inflation. “Huge fiscal spending, the trillions needed each year for the green economy, the remilitarization of the world and the restructuring of global […] Read More
Monday, 08 April, 2024
US intends to underscore the need for China to shift its industrial policy, according to US Treasury Secretary Janet Yellen’s prepared remarks in Beijing. Says China’s “enduring macroeconomic imbalances” include “weak household consumption and business over-investment, aggravated by large-scale government support in specific industrial sectors” Yellen says she expressed concern to China that some features of the Chinese economy have “growing negative spillovers” on the US and globally Seeing investments increase in industries targeted by […] Read More
Tuesday, 26 March, 2024
Russia’s FSB says Western intelligence services aided Moscow attackers March 26 (AFP) — The head of Russia’s FSB security services said Tuesday that Western and Ukrainian intelligence services had helped the attackers who stormed a Moscow concert venue last week, killing dozens. “We believe the action was prepared both by the radical Islamists themselves and, of course, facilitated by Western special services, and Ukraine’s special services themselves have a direct connection to this,” Alexander Bortnikov […] Read More
Tuesday, 26 March, 2024
Bond giant Pimco fears inflation hit to US Treasuries Fund manager holds lower than normal position in longer-dated US bonds, and prefers UK, Australia and Canada Mary McDougall in London 45 MINUTES AGO https://www.ft.com/content/67fcf3cf-93b0-4ecf-a7f1-33f408944561 Bond fund giant Pimco is holding a smaller than usual position in US Treasuries and prefers the bonds of countries such as the UK and Canada, as it believes inflationary pressures may lead the Federal Reserve […] Read More
