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AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. The Global X Robotics & Artificial Intelligence ETF (BOTZ.O) received $35.5 million in net inflows in the week ending on Wednesday, its strongest since June earlier this year, according to Lipper data. "Improved inflation data and the likelihood of rate cuts in the second half of 2024 have maintained market optimism throughout November, contributing to investor interest," said Tejas Dessai, AVP, Research Analyst at Global X. So far this year, the Global X fund has gained 27.7% year-to-date, supported by the 233% rally in shares of its top holding Nvidia (NVDA.O), whose graphics processing units (GPUs) dominate the market for AI. The Global X fund, which has total net assets of $2.2 billion, has seen net inflows of $554.8 million so far this year.

Persons: Dado Ruvic, chipmaker, Aniket Ullal, Bansari Mayur, Shweta Agarwal Organizations: REUTERS, chipmaker Nvidia, Robotics, Intelligence, Federal Reserve, Tejas Dessai, Global, Nvidia, Wall, Thomson Locations: ., Bengaluru

☆ Amazon rallies on cloud optimism as it chases Microsoft for AI business
▼ + stars: | 2023-10-27 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

Smaller cloud rival Microsoft (MSFT.O) rose 1.5%, while Alphabet (GOOGL.O) was down about 1.3%. Amazon shares have rallied about 40% this year, but they have lost nearly 8% in the past two days after Alphabet (GOOGL.O) warned that cloud customers were curbing spending. In the July-September period, Amazon posted its first quarter-on-quarter increase in cloud growth in nearly two years. The 12.3% growth in AWS was slower than the 29% rise seen at Microsoft's (MSFT.O) Azure cloud business, which had topped market estimates. To be sure, Amazon's cloud business is larger than that of Microsoft and Google.

Persons: Pascal, Andy Jassy, Bernstein, brokerages, Morningstar, Dan Romanoff, Aditya Soni, Arun Koyyur Organizations: REUTERS, Microsoft, Amazon, Amazon Web Services, Reuters Graphics, Tech, Google, Tejas Dessai, Thomson Locations: Bengaluru

Microsoft's chief financial officer Amy Hood said on a conference call with analysts that higher-than-expected AI consumption was responsible for a 3 percentage point boost to its cloud business. Alphabet has prioritized snaring AI startups as customers for its cloud division, while Microsoft has relied on its existing relationships to secure larger customers. Azure revenue rose 29%, higher than a 26.2% growth estimate from market research firm Visible Alpha. RBC Capital Markets has previously estimated that Microsoft will clock over $3 billion in revenue from generative AI offerings this fiscal year. Quite surprising to see strong growth reacceleration in the Azure Cloud segment, which is clearly driven by AI-as-a-service related demand," said Global X analyst Tejas Dessai.

Persons: Microsoft's, Bob O'Donnell, Bing, Bard, Amy Hood, Krishna Chintalapalli, capex, Akash Sriram, Anna Tong, Max Cherney, Yuvraj Malik, Greg Bensinger, Stephen Nellis, Sayantani Ghosh, Sonali Paul Organizations: Microsoft, Wall, Microsoft's, TECHnalysis, Parnassus Investments, DAZZLES, Alpha, RBC Capital Markets, Reuters Graphics Microsoft, Tejas Dessai, AWS, Thomson Locations: Bengaluru, Anna, San Francisco

☆ Nvidia's blowout results are exciting analysts so much, one of them even said the AI chipmaker will be 'most important company to civilization'
▼ + stars: | 2023-08-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

AI chipmaker Nvidia posted record second-quarter revenues of $13.51 billion. One jubilant analyst made a bold call: He thinks Nvidia will be the "most important company to civilization" in the next decade. Even Daniel Ives, an analyst at Wedbush Securities, gushed in a tweet: "It's all about AI demand and use cases. "AI needs specialized chips to run on, and trillions worth of processing chips will be up for replacement through this decade." Dessai added there are other opportunities for AI chips as they eventually make their way into other products including smartphones, laptops, cars, and medical devices.

Persons: Angelo Zino, Daniel Ives, Dessai Organizations: Nvidia, Service, Yahoo Finance, Wedbush Securities, gushed, Tejas, Global Locations: Wall, Silicon

☆ 5 stocks that are best-positioned over the next 10 years to capitalize on the AI boom promising to transform the economy, according to Global X's lead AI researcher
▼ + stars: | 2023-06-14 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Tejas Dessai says AI is still in its early stages, and he's taking a long-term investing outlook. Dessai is the lead AI researcher at Global X. The firm's AI ETF is up 38% this year. According to Dessai, the lead AI research analyst at ETF issuer Global X, AI adoption throughout the economy will be a slow process and likely span the next decade. Dessai's research helps inform the holdings in the Global X Artificial Intelligence & Technology ETF (AIQ), which is up 38.6% this year.

Persons: Dessai Organizations: Tejas, Global, Nvidia, Meta, Tejas Dessai, Intelligence, Technology, TrueMark Technology, Learning, Facebook, Google

☆ Why AI stocks could return outsized performance in the next 18 months, and 7 leading names with direct exposure, according to an ETFs analyst
▼ + stars: | 2023-02-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

There are mature, large-cap companies that investors could stick to for exposure to the sector. A sudden interest in artificial intelligence has brought the more than decade-old technology to the forefront of investors' minds. It has additional ETFs focused on sectors that will be heavily impacted by AI including the Cloud Computing ETF (CLOU) and Cybersecurity ETF (BUG). They are broken down into innovators, early adopters, early majority, late majority, and finally, the laggards. Mature companies like Microsoft that are developing AI use cases could move AI into a mature stage rapidly.

☆ Lyft says lower prices to hit profit, shares drop 30%
▼ + stars: | 2023-02-10 | by ( Nivedita Balu | ) www.reuters.com time to read: +3 min

President John Zimmer said in an interview with Reuters that the company planned "lower prices" and fewer hours of peak pricing, which he called "less prime time." Lyft had room to lower prices because the market was strong, he added. Uber shares were down 2.5%, a day after Uber reported a surprise fourth-quarter profit and forecast a current-quarter profit well above the average analyst estimate. Lyft forecast first-quarter revenue of about $975 million, below analyst estimates of $1.09 billion, according to Refinitiv data. Chief Financial Officer Elaine Paul blamed the forecast on seasonality and lower prices, including fewer Prime Time hours.

☆ Lyft shares plunge as lower pricing plan weighs on revenue forecast
▼ + stars: | 2023-02-09 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

"Which means lower prices and less prime time." Lyft forecast first-quarter revenue of about $975 million, which fell below analyst estimates of $1.09 billion, according to Refinitiv data. Lyft forecast first-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a key measure of profitability that strips out some costs, of between $5 million and $15 million. For the fourth quarter, Lyft reported an adjusted EBITDA of $126.7 million, excluding the $375 million it had set aside for increasing insurance reserves. Active riders rose 8.7% to 20.36 million for the fourth quarter, Lyft said, above the FactSet estimate of 20.30 million.

☆ Lyft's weak revenue forecast knocks down shares
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Lyft Inc (LYFT.O) on Thursday forecast current-quarter revenue below Wall Street estimates, blaming the impact of extremely cold weather on some of its major markets and lower prices during peak hours, sending its shares tumbling 28%. Lyft forecast first-quarter revenue of about $975 million, which fell below analyst estimates of $1.09 billion, according to Refinitiv data. Lyft forecast first-quarter adjusted earnings before interest, taxes depreciation and amortization (EBITDA), a key measure of profitability that strips out some costs, of between $5 million and $15 million. For the fourth quarter, Lyft reported an adjusted EBITDA of $126.7 million, excluding the $375 million it had set aside for increasing insurance reserves. Active riders rose 8.7% to 20.36 million for the fourth quarter, Lyft said, above the FactSet estimate of 20.30 million.

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