Wall Street Today | AMD Launches New Data-Center AI Chips, Software to Go Up Against Nvidia
MACRO
Inflation Slows Again, CPI Shows, and Might Keep Fed on Sidelines
Increase in core CPI in past year slips to 5.3%. Consumer prices rose a scant 0.1% in May, kept in check by cheaper oil. Inflation more broadly showed little sign of rapid deceleration, however.
The yearly rate of inflation slowed to 4% from 4.9%, marking the lowest level since March2021. Grocery and gas prices have been on the wane after helping drive up inflation last year.
McCarthy Restarts House Votes as Dissidents Press for Spending Cuts
House Speaker Kevin McCarthy (R., Calif.) passed the first test of his truce with far-right conservatives in a procedural vote that passed along party lines Tuesday afternoon, clearing the way to resume business on the floor following a week of paralysis.
SECTORS
Renters Are About to Get the Upper Hand
Apartment rent growth is declining fast, shifting the rental market to the tenant’s favor for the first time in years.
The average of six national rental-price measures from rental-listing and property data companies shows new-lease asking rents rose just under 2% over the 12 months ending in May.
Nvidia Officially Closes in $1 Trillion Territory, Becoming Seventh U.S. Company to Hit Market-Cap Milestone
Nvidia Corp. officially joined vaunted company Tuesday, becoming just the seventh public U.S. company to finish a trading session in $1 trillion territory.
The chip giant accomplished something it had failed to do late last month as it officially closed with a market capitalization above $1 trillion. Nvidia shares previously flirted with intraday levels that would have equated to a $1 trillion valuation but failed to finish a trading session above the mark.
COMPANY
Cathie Wood's ARK Dumps Some Tesla, Nvidia Stock While Scooping up Meta Shares
Cathie Wood's ARK Investment unloaded some shares of Tesla Inc. and Nvidia Inc. across several funds Monday, new disclosures showed.
ARK sold a combined 393,000 shares of $Tesla(TSLA.US$ worth $92 million based on Monday's closing levels. The sales primarily came from the $ARK Innovation ETF(ARKK.US$, which dumped nearly 325,000 shares Monday, according to ARK's daily trade disclosures posted to its website. Tesla represented about 1% of that fund after the sale.
AMD Launches New Data-Center Ai Chips, Software to Go up Against Nvidia and Intel
$Advanced Micro Devices(AMD.US$ said on Tuesday its most-advanced GPU for artificial intelligence, the MI300X, will start shipping to some customers later this year.
AMD's announcement represents the strongest challenge to $NVIDIA(NVDA.US$ , which currently dominates the market for AI chips with over 80% market share, according to analysts.
Source: Bloomberg, Dow Jones, CNBC
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二胡少根弦 : Not a grade.
brody4201 : my comment for my post today is that well yeah it's a record breaking of a 4.8 annual income so the United States for any of you is at the highest it has ever been in the United States history so in order for be able to keep the annual income of 4.8% they're going to take the money out of like food stamps or they're going to raise the cost of living they're going to raise restaurant month in basically raise interest fees on banks of the US revenue
brody4201 : yeah I just thought I want to comment on the fact that knowledge is key in life dude and there's no amount of money that can buy and knowledge and simply fact that there's a game that's being played out there and the question is are you going to be playing the game or you going to get played and basically it just comes with wealthy people first within the socks and they get into business and they get into real estate but the question is what are you going to do with that money or you going to give it back that's what I learned that's what you got to give back to get
73238818 二胡少根弦: Yes, I think so too