logo
Tiruchelvam: AI Tech Investment Similar to That in Railways in 80s

Tiruchelvam: AI Tech Investment Similar to That in Railways in 80s

Bloomberg28-01-2025

Chinese startup, DeepSeek has upended global markets, as its cost-effecient AI model can mimic human reasoning, rivalling or outperforming leading US developers on industry benchmarks. Nirgunan Tiruchelvam, Aletheia Capital's Head of Consumer and Internet spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche, on the overnight fame of this new tech. (Source: Bloomberg)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Stocks making the biggest moves midday: Nucor, Sunrun, Affirm, Zoetis, Circle and more
Stocks making the biggest moves midday: Nucor, Sunrun, Affirm, Zoetis, Circle and more

CNBC

time31 minutes ago

  • CNBC

Stocks making the biggest moves midday: Nucor, Sunrun, Affirm, Zoetis, Circle and more

Check out the companies making headlines in midday trading. Steel stocks– Shares of steel producer Nucor jumped more than 3%. The company issued rosy guidance for its second-quarter earnings, calling for $2.55 to $2.65 per share, while FactSet consensus estimates sought $2.36 per share. In contrast, Steel Dynamics' guidance fell short of Wall Street's estimates, ranging from $2.00 to $2.04 per share, while analysts were looking for $2.73 per share. The stock slipped 1%. The moves follow the completion of the Nippon Steel-U.S. Steel deal . Shares of peer companies Cleveland-Cliffs and Reliance were little changed. Scholar Rock Holding — Shares jumped nearly 15% after the biotech reported its experimental drug showed it was able to help patients taking Eli Lilly 's obesity drug lose less muscle as they shed pounds. Lilly shares were down slightly. Affirm — The consumer finance stock rose 3% after Affirm announced the creation a new loan sale facility with Prudential's PGIM Fixed Income business. Prudential will buy as much as $500 million of Affirm's consumer loans at any one time, with a total investment of $3 billion over the next three years. Sunrun — Shares of the solar company rose 5% despite a downgrade to sector perform from outperform by RBC Capital Markets. The stock on Tuesday recorded its biggest one-day loss in its history amid a sell-off in solar names. Other solar stocks including Enphase Energy , which was up nearly 5%, and Solaredge , which gained 7%, were also higher. Bausch Health — Shares climbed 8% after John Paulson, its nonexecutive chair, acquired 3.6 million shares of the pharma company's stock. The purchase came on the heels of a $14.7 million purchase disclosed last week. Paulson now owns about 9% of the company's outstanding stock. CERo Therapeutics Holdings — Stock in the immunotherapy company pulled back more than 30%. On Tuesday, the U.S. Food and Drug Administration gave the company's acute myeloid leukemia drug CER-1236 an orphan drug designation . Shares rose more than 188% on that news. Chemours — The chemical stock rose 8% after an updated second-quarter forecast showed weakness in a key profit metric. Chemours said it expects consolidated adjusted EBITDA — or earnings before interest, taxes, depreciation and amortization — of $215 million to $225 million for the period. Wall Street expectations called for $236 million, according to FactSet. Regencell Bioscience — Shares dropped 26% after an eyewatering move higher this week . The Hong Kong-based developer of traditional Chinese herbal treatments has said it can treat childhood ADHD and autism. Regencell jumped 30% on Tuesday, and soared 283% Monday, following a 38-for-1 stock split. It's gained more than 59,000% this year. Oracle — The software company gained more than 1% after Guggenheim raised its price target on the stock to the highest on the Street. Analyst John DiFucci said Oracle is "on the precipice of a narrative shift that has been decades of technology innovation in the making." Zoetis — Shares of the animal health company slipped 3% following a downgrade at Stifel to hold from buy. The firm said it expects Zoetis' revenue growth to decelerate further amid increasing competition. Korn Ferry — Shares of the consulting firm gained 9% after fourth-quarter results surpassed analyst estimates on the top and bottom line. Korn Ferry earned $1.32 per share, excluding items, on revenue of $712 million. Analysts polled by FactSet expected a profit of $1.26 per share and revenue of $689.9 million. Circle Internet Group — Stock in the company behind stablecoin USDC advanced almost 16%, after the U.S. Senate passed the GENIUS bill . The legislation is the first of its kind and establishes federal guidelines for digital dollars that are pegged to the greenback. — CNBC's Brian Evans, Sarah Min, Michelle Fox, Alex Harring, Fred Imbert, Yun Li, Jesse Pound and Darla Mercado contributed reporting.

Texas Instruments plans $60 billion U.S. investment amid Trump's onshoring push
Texas Instruments plans $60 billion U.S. investment amid Trump's onshoring push

CNBC

timean hour ago

  • CNBC

Texas Instruments plans $60 billion U.S. investment amid Trump's onshoring push

Texas Instruments said it would spend more than $60 billion to expand its U.S. manufacturing footprint, the latest chipmaker to ramp up domestic production amid pressure from the Trump administration to reshore the semiconductor supply chain. The funds will be used to build or expand seven chip-making facilities in Texas as well as Utah, and will create 60,000 jobs, TI said on Wednesday, calling it the "largest investment in foundational semiconductor manufacturing in U.S. history." The company did not give a timeline for the investment. Unlike AI chip firms Nvidia and AMD, TI makes analog or foundational chips used in everyday devices such as smartphones, cars and medical devices, giving it a large client base that includes Apple, SpaceX and Ford Motor. The spending pledge follows similar announcements from others in the semiconductor industry, including Micron, which said last week that it would expand its U.S. investment by $30 billion, taking its planned spending to $200 billion. Analysts have said they see the spending commitments as overtures to U.S. President Donald Trump, who has repeatedly threatened to kill the $52.7 billion 2022 CHIPS and Science Act and warned of potential new tariffs on semiconductor imports. Texas Instruments, which won as much as $1.61 billion in CHIPS Act funding last year, already has a large U.S. presence. It had been building two facilities in Texas and one in Utah as part of efforts to boost in-house manufacturing and stave off rising competition from Chinese analog chipmakers. Like other companies unveiling such spending commitments, TI's announcement includes funds already allocated to facilities that are either under construction or ramping up. It will build two additional plants in Sherman, Texas, based on future demand. "TI is building dependable, low-cost 300 millimeter capacity at scale to deliver the analog and embedded processing chips that are vital for nearly every type of electronic system," said CEO Haviv Ilan.

Novogratz Says Stablecoin Bill Will Push Traditional Finance Toward Crypto
Novogratz Says Stablecoin Bill Will Push Traditional Finance Toward Crypto

Bloomberg

time2 hours ago

  • Bloomberg

Novogratz Says Stablecoin Bill Will Push Traditional Finance Toward Crypto

Billionaire Michael Novogratz said that the passage of landmark stablecoin legislation will bring more traditional financial institutions into the cryptocurrency market. 'We set up Galaxy in 2017 with the idea that institutions would finally come to the market and they're here,' Novogratz, the founder and chief executive officer of Galaxy, said during a Bloomberg Television interview on Wednesday. 'We will get the stablecoin bill and hopefully a market structure bill and it will bring TradFi into this technology.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store