This is you Tech Industry Daily: Breaking News & Analysis podcast.
Tech Industry Daily: Breaking News and Analysis. Wall Street's software selloff intensified yesterday, with investors dumping stocks vulnerable to artificial intelligence disruption, as noted by Bloomberg Technology hosts Caroline Hyde and Ed Ludlow. FAANG companies felt the heat: Amazon shares dropped 5.58 percent in the latest session, trading at $210.32 with an oversold relative strength index of 35, according to EBC forex analysis, while Alphabet fell 2.54 percent to $322.86 and Meta declined 1.31 percent to $661.46.
In fusion energy innovation, Twilio founder Jeff Lawson raised $450 million in Series A funding for Inertia, capitalizing on surging electricity demand from AI data centers, Bloomberg Technology reports. SpaceX's acquisition of AI startup xAI merges satellite tech with advanced models like Grok, aiming to accelerate deployment amid fierce competition from OpenAI and Anthropic. Fujitsu announced manufacturing of sovereign AI servers in Japan today, bolstering data security for enterprises.
Market trends show AI capital expenditure reshaping valuations, turning Big Tech into capital-intensive utilities focused on utilization and pricing power, per EBC. Waymo, Alphabet's robotaxi unit, targets one million weekly paid rides by year-end, signaling autonomous vehicle scale-up.
For businesses, prioritize AI-aligned hardware over legacy software; consumers, watch for cheaper energy from fusion advances. Practical takeaway: Investors, eye Apple's bullish RSI above 60 as a safe haven amid volatility—consider reallocating from oversold Amazon.
Looking ahead, expect AI capex payback in 2026 if revenue accelerates, but regulatory scrutiny on mergers like SpaceX-xAI could intensify. Fusion funding points to cleaner power for AI growth.
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