Monthly Archives: June 2024
OpenAI competitor Anthropic announces its most powerful AI yet
(CNBC)OpenAI competitor Anthropic on Thursday announced Claude 3.5 Sonnet, its most powerful artificial intelligence model yet. Claude is one of the chatbots that, like OpenAI’s ChatGPT and Google’s Gemini, has exploded in popularity in the past year. Anthropic, which was founded […]
Investors shifting to private credit as bonds lose hedging appeal, says Bobby Jain
(Hedgeweek) Bobby Jain, founder and CEO of New York-based hedge fund firm Jain Global, said that hedge funds face growing competition from private credit firms for investor capital, on a panel at the UBS Singapore Family Wealth Forum on Thursday, […]
A marathon, not a sprint: Apple’s AI push faces big challenges in China
(CNBC) The uncertain path in China comes at a time when Apple’s market share is being eroded in the world’s second largest economy by a resurgent Huawei and other local smartphones players, which are talking up their AI features. Apple […]
Point72 AM to launch $1bn AI-focused hedge fund
(Hedgeweek) Steve Cohen’s Point72 Asset Management is planning to raise approximately $1bn for a new hedge fund focusing on AI, marking the firm’s first new hedge fund in decades, according to a report by Bloomberg. To read this article:
M&A hedge funds outperform with 7.7% return, says Goldman Sachs
(Hedgeweek) The ‘Long Magnificent Seven’ trade, a strategy focused on mega-cap US technology companies, is the most crowded trade for the 15th consecutive month, according to report by MarketWatch citing Bank of America’s Global Fund Manager Survey. To read this […]
Hedge funds double down on ‘Long Magnificent Seven’ trade
(Hedgeweek) The ‘Long Magnificent Seven’ trade, a strategy focused on mega-cap US technology companies, is the most crowded trade for the 15th consecutive month, according to report by MarketWatch citing Bank of America’s Global Fund Manager Survey. To read this […]
OpenAI co-founder Ilya Sutskever announces his new AI startup, Safe Superintelligence
(CNBC) OpenAI co-founder Ilya Sutskever, who left the artificial intelligence startup last month, introduced his new AI company, which he’s calling Safe Superintelligence, or SSI. “I am starting a new company,” Sutskever wrote on X on Wednesday. “We will pursue safe superintelligence in a […]
S&P 500 futures are little changed as Wall Street looks for Nvidia to keep leading market
(CNBC) S&P 500 futures were little changed on Wednesday as investors look for the benchmark to add to its latest record high. Futures tied to the broad market index added 0.04%, while Nasdaq 100 futures advanced 0.1%. Dow Jones Industrial Average futures pulled back 0.1%. Stocks […]
X boss Elon Musk softens ‘go f— yourself’ comment as he tries to woo advertisers back
(CNBC) Elon Musk on Wednesday tried to walk back remarks lashing out at advertisers fleeing his X social media platform. At the Cannes Lions advertising festival in Cannes, France, Musk was asked by WPP CEO Mark Read what he meant […]
S&P 500 futures are little changed as investors await May retail sales data: Live updates
(CNBC) S&P 500 futures are near flat Monday night after a winning day on Wall Street as investors gear up for May retail sales data. Futures linked to the broad market index inched higher by 0.05%, while Nasdaq 100 futures ticked down […]
Activist Starboard sues Autodesk in bid to mount proxy fight
(CNBC) Starboard Value sued software maker Autodesk on Monday to delay the company’s annual meeting and reopen the board nominating window and allow the activist to mount a proxy fight. Starboard confirmed in a letter on Monday that it has a stake in Autodesk valued at […]
Nvidia to get 20% weighting and billions in investor demand, while Apple demoted in major tech fund
(CNBC) Nvidia’s blistering rally will force a major technology exchange-traded fund to acquire more than $10 billion worth of shares of the chip giant while cutting dramatically back on Apple. The index that the Technology Select Sector SPDR Fund (XLK) follows will soon […]
