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- Chatbot Wars: Everyone's got an A.I. now
🌞Buenos Dias🌞
Today we're focused on a few speeches (Biden and Powell), still balloons, and recession favorites: alcohol & gambling.
Let's jump in--
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Trends 💃
Falling numbers of meat buyers hurt Tyson Foods’ profit. Shares of the largest meat company in the US fell more than 5% after first-quarter earnings missed expectations. (QZ)
Match Fixing Has Existed for Centuries. Gambling Apps Are Making It Worse (BBG)
🧿: I am no sports expert but just the other day I saw some budget video with an ex-NFL player supposedly saying the seasons are fixed... conspiracy theory alert? ⚠️👁️
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Economy 📊
Fed has to go higher-- last weeks jobs report came in far above expectations putting pressure on the Federal Reserve to continue raising rates to fight inflation. Chairman Jerome Powell speaks today to reaffirm the Fed's stance (markets should react to this). (BBG)
🧿: The growth in US jobs and shrinking unemployment numbers makes it difficult for the Fed to hold on to credibility. Today's speech will lilely be focused on reiterating their plan to continue to raise rates to fight inflation, likely drawing markets down (if credible) or pushing markets up (if not credible).
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Technology 🦾
Baidu:The Chinese search-engine operator confirmed plans to launch an artificial-intelligence chatbot in March. Baidu’s Hong Kong-listed shares jumped 15% and its American depositary receipts surged ahead of the opening bell. (WSJ)
Search engines are reading rivals to ChatGPT. Google is preparing to release Bard, a lightweight version of its LaMDA AI engine. (GIZMODO)
🧿: The A.I. wars are on and the winnger will inherit the coveted search market. Microsoft's huge investment into OpenAI was the first stone. Let's see if Google or Baidu's product can compare both in quality and ability to get-to-market.
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Earnings 💵
Activision Blizzard beat Q4 earnings-per-share (EPS) estimates on record quarterly net bookings and higher than expected monthly active users; the firm is to be acquired by Microsoft for $69B by Q2 2023 (YH)
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Chart of the Day 📈
Meme Digestif ☕️
