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☆ SoftBank's Arm soars in market debut to notch $60 bln valuation
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 14 (Reuters) - Shares in SoftBank's Arm Holdings ARM.O opened 18% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and steadily extended gains to just over $60. "The Arm IPO is the most hyped listing we've had in the markets for a while." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

Persons: Rene Haas, Brendan McDermid, SALMAN MALIK, ANSON, ” OWEN LAU, JORDAN STUART, “, ” “, ’ ” DANIEL KLAUSNER, HOULIHAN, haven't, ”, ” KYLE RODDA, ANDREW Organizations: Nasdaq, REUTERS, Holdings ARM.O, OPPENHEIMER, FEDERATED HERMES, OF, PUBLIC, ROSENBLATT, Global Finance, Markets, Thomson Locations: New York, U.S, “

☆ It's time to see whether AI is the new internet – or the next Metaverse
▼ + stars: | 2023-07-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

AI could transform business like the internet – or end up in the tech graveyard like the Metaverse. Companies will have a chance to show that their increased spending on AI tech helped them make more money, over the quarter in which ChatGPT fully established itself in the public consciousness. Zealots have used early success stories like Nvidia, Tesla, and other mega-cap names to argue that AI is like a new version of the internet – technology that outlasts a period of initial hype, and then transforms the way that business is done forever. But for every dot-com boom there's so-called "disruptive tech" like crypto or the Metaverse – fads that end up losing companies money, rather than boosting their profits. In other words, soon companies will have to show that AI can raise their profits like the internet did – or else it'll be consigned to the tech graveyard like the Metaverse was.

Persons: Jensen, Jordan Stuart, Federated Hermes Organizations: Morning, America, Semiconductor, Nvidia, Tesla, Federated Locations: ChatGPT

☆ AI has to show it's like the internet in 1995 – not the Metaverse in 2021
▼ + stars: | 2023-07-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

AI could transform business the way the internet did – or be consigned to the tech graveyard like the Metaverse was. Companies will have a chance to show that their increased spending on AI tech helped them make more money, over the quarter in which ChatGPT fully established itself in the public consciousness. But for every dot-com boom there's so-called "disruptive tech" like crypto or the Metaverse – fads that end up losing companies money, rather than boosting their profits. "But finding companies that can actually make money using this technology is going to be really difficult." In other words, soon companies will have to show that AI can raise their profits like the internet did – or else it'll be consigned to the tech graveyard like the Metaverse was.

Persons: Jensen, Jordan Stuart, Federated Hermes Organizations: Morning, America, Semiconductor, Nvidia, Tesla, Federated Locations: ChatGPT

☆ A.I. enthusiasm drove up stocks this year. Here's how investors can catch the next opportunity
▼ + stars: | 2023-07-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Six months later, the promise of generative AI has boosted the Nasdaq Composite 31.7%, notching its best first half since 1983 . Betting on Nvidia Nvidia took Wall Street by storm this year. No matter how AI evolves, Nvidia was seen by many investors as a main beneficiary. Even with the stock's stellar performance, and recent entrance into the $1 trillion market cap club, investors aren't shying away just yet. "There will be an opportunity to get into some of these stocks at probably better levels than you're at now," Szilagyi said.

Persons: ChatGPT, Ken Mahoney, Mahoney, Jan Szilagyi, aren't shying, Sylvia Jablonski, Paul Meeks, Meeks, it's, Jordan Stuart, Eli Lilly's Mounjaro, Stuart, Szilagyi Organizations: Microsoft, Nasdaq, Nvidia, Meta, Apple, Mahoney Asset Management, Nvidia Nvidia, Nvidia —, Independent Solutions, Management, Investors, Big Tech, Federated Hermes, Novo Nordisk's Ozempic Locations: Hong Kong

Fund managers say they are fielding more queries from clients about the odds of an invasion of Taiwan by China. Russia's invasion of Ukraine early last year has also made investors more wary of war risk, analysts said. Goldman Sachs' Cross-Strait Risk Index, which gauges the intensity of geopolitical risk between Taiwan and mainland China, hit a record high last August after then-U.S. House of Representatives Speaker Nancy Pelosi's trip to Taiwan. Jordan Stuart, client portfolio manager at Federated Hermes, says he cut China exposure last year while holding onto some small stocks that can "fly under the radar". The Taiwan Strait is a major route for ships transporting goods from East Asia to the United States and Europe.

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